Over the years I’ve lost count of the number of conversations I’ve had with clients about money; how they think and feel about it, how much they might need and so on.
It seems to me that there’s really only one value of money, and that is that money gives you options – more money, more options, less money fewer options.
Interestingly, having more money, and therefore more options, doesn’t seem to mean much more than that. In my experience, it doesn’t mean you’re smarter, funnier, or even better looking than anyone else. It simply means you have more options.
Having more money also doesn’t seem to mean that you’ll choose the right option. A large part of what we do as financial advisers is to help our clients confirm and clarify their objectives, and help them to work out what their realistic options are. I underscore ‘realistic’ because sometimes we need to confirm to clients that some options simply are not realistic, or if achievable, may have ‘unintended consequences’.
As an adviser, I’m never, ever, going to tell a client how to spend their money – that’s just rude! The end result I’m seeking to achieve is to ensure my client has a clear understanding of what their realistic options are, and how to achieve them, such that they can make informed decisions.
Please note this article provides general advice only and has not taken your personal, business or financial circumstances into consideration. If you would like more tailored advice, please contact us today.