Today’s Smart Money Question:
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Here Are Just A Handful Of Things You’ll Learn:
I was talking with a friend of mine recently who’s a commercial banker, where a small deal for him might be a $10 million deal. We were going back and forth about his team and how they dissect a deal to see if it’s doable.
He talked about the financials he needs from the company and what their intentions are, but he said they also go back and take the deal all the way down to the studs. He has to know the questions he needs to get answered to be able to see if he can structure a deal for the bank and the client.
This made me think about conversations I have with clients about risk and how much risk they should have in their portfolio. In your own life, you need to take your deals down to the studs so you know the questions that have to get answered.
Some questions to consider: What is your money doing for you? Where are you putting it? Are you getting out of it what you were expecting? You should be able to see an escalation in the value of what you’re investing in.
I have clients who come in and say they know they should be aware of the risk in their investments, and they wonder if they should remove some risk from their portfolio. How much risk can you handle, and how will your emotions play a role if you see your numbers dip?
Some people get so afraid that they take their money out of the market and don’t get back in. It’s important to know that we can’t look at history as an indication of future success.
Listen to the full episode or use the timestamps below to jump to a specific section.
1:19 – Down to the studs
5:33 – Removing risk
8:27 – What can I expect?
10:33 – When will you retire?
13:15 – Money in retirement
“You need to take your deals down to the studs so you know the questions that have to get answered.“
-Matt Hausman
Additional Podcast Episodes:
- Mandates and Forced Retirement – What Questions to Ask
- How Much Money Do I Need to Retire?
- Should You Take Advice From Financial Gurus?
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The host: Matt Hausman – Contact – Resources – Call: 610-719-3003
