Your Money Journey: Lisa Sakai
Are you following financial advice that seems off but can’t quite put your finger on why?
Some advice, even when it sounds professional, could hold you back instead of helping you. Let’s break down the most common bad financial advice, why it doesn’t work, and how you can protect your financial future.
Product Pushing Over Personal Priorities:
Does your financial advisor feel more like a salesperson? The “car salesman” approach in financial advice is dangerous. Advisors—or others claiming to give financial guidance—sometimes push products that benefit their commission, not your situation. Insurance, alternative investments, or even specific stocks might be marketed as your magic solution without real consideration of your goals.
“The right advisor will explore options with you, not push the same solution on everyone.”
Here’s the red flag: If someone’s only steering you toward one product or strategy, chances are they’re not prioritizing you. For example, being pitched an insurance policy when you’re asking about retirement preparedness? That’s a mismatched focus, and it happens far too often.
Pro tip: If you don’t feel comfortable with a product or can’t see how it fits your goals, don’t be afraid to walk away. Go with your gut! The right advisor will explore options with you, not push the same solution on everyone.
Skipping The Risk Conversation:
What’s your comfort level with financial risks? If your advisor hasn’t asked, they’re already missing the mark. Those dull risk tolerance questionnaires don’t cut it. Real conversations uncover how you’d feel about market swings or the possibility of losing money in the short term.
Age often comes up in risk discussions. “You’re young, so you should be aggressive!” or “You’re older, so keep it safe!” might sound logical but ignore your personal comfort. Not everyone in their 30s wants to take big risks, and not every retiree is scared of the market.
Your financial plan should match you—not a generic formula—so don’t let someone shoehorn you into one-size-fits-all strategies.
Ignoring Real Retirement Planning:
Even if you swear you’ll never retire, life happens. Health changes, career choices, or shifts in passion can make retirement unavoidable—or desirable. So why aren’t more advisors digging into retirement planning?
Retirement planning isn’t just about stockpiling savings. It’s about understanding your future income streams, mapping out expenses, and assessing potential taxes. If your advisor isn’t bringing this up, they’re not looking at the full picture of your financial journey.
“Retirement planning isn’t just about stockpiling savings.”
Go beyond, “Will I have enough saved?” Consider what your retirement years look like. How will taxes affect your budget? What income strategies are in place?
Overlooking Tax And Liquidity Needs:
Taxes and liquidity are often treated as afterthoughts in planning. That’s a mistake. While advisors aren’t tax professionals, they should discuss how taxes will impact your investments and withdrawals.
Here’s a common misstep: Piling all your money into tax-deferred accounts or investments you can’t touch for decades. Without proper liquidity, emergencies or life changes can throw your plan into chaos. Every account’s purpose—whether for short-term needs or long-term goals—should be clear.
Ask questions: Will this investment be easy to access if you need cash? What’s the tax impact when you take it out? Advisors who skip this part of the conversation aren’t setting you up for success down the road.
The Big Picture: Holistic Planning Matters:
Financial planning isn’t just about investments—it’s about your life. A supportive advisor doesn’t just manage portfolios; they’re part of your decision-making process for everyday financial choices.
Thinking about buying a car? Planning a big vacation? These “small” moments can ripple through your financial future. Ignoring them leads to blind spots that could derail your bigger goals.
Choosing The Right Advisor:
The financial industry has its flaws, but there are great advisors out there who genuinely want to help. If something feels off with your current advisor, trust your gut. It doesn’t necessarily mean they’re bad at their job—they just might not be the right fit for you.
Think of your advisor as a partner in your financial success. You should feel comfortable reaching out anytime, whether it’s about a major investment or switching to a better interest-earning bank account. If that’s not happening, it’s time to move on.
Note: Investment advice offered through Integrated Financial Partners, doing business as One Vision Retirement, a registered investment advisor. The information in this material is for general information only and is not intended to provide specific advice or recommendations for any individual. Integrated Financial Partners does not provide legal/tax advice or services. Please consult a qualified legal/tax advisor regarding your specific situation.
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About the Author:
Lisa Sakai is a Financial Consultant who works with clients on Bucket List Acceleration and getting to live the life they want now. As the co-founder of One Vision Retirement, she has been working with clients across the country for over 12 years. Lisa’s advice provides easy to understand, logical steps and exercises that people can take action on right away. Learn more about Lisa Sakai here at One Vision Retirement.
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