The First Steps in Working with a Financial Planner
Begin your financial planning journey with confidence
It's no surprise that, as a busy optometrist, handling your own finances can feel like a whole extra job on top of your actual job. Between student loans, saving for a practice, or dreaming of early retirement, there’s a lot to navigate! That's why talking to a financial planner can be such a wise move. But what does that first step actually look like?
What to expect at your first consultation
Think of your first meeting with a financial planner like a check-up for your money. The focus isn't on finding a "quick fix" but rather on getting a big-picture view of your finances, goals, and any areas where you might need some guidance.
Here's a general outline of what you'll likely cover:
Get to know you time: Your planner wants to understand who you are, what money means to you, and what your financial dreams look like (even if they're a bit blurry right now).
The numbers rundown: Be prepared to discuss things like your income, savings, debts, big expenses you're planning, and any retirement accounts you have.
Your biggest questions: Now's your chance to fire away! Is buying a practice realistic? Can you afford to cut back hours? Everything's on the table.
Pro Tip:
Your initial meeting isn't about judgment. It's about gathering information and setting a roadmap for the future.
How to prepare for your first planning meeting
The more info you bring upfront, the better! Here's a helpful checklist:
Gather your financial paperwork: Bank statements, investment accounts, retirement plans, tax returns, insurance policies, etc.
Jot down your goals: Even general ones like "retire early" or "buy my dream home".
Come with questions: Write down anything you've been wondering about, from specific strategies to how the whole planning process works.
The importance of goal-setting
What good is a map if you have no destination in mind? Talking about your goals helps tailor the financial advice to your life, not just generic strategies. So, think about these before your meeting:
Time horizons: Are you aiming for short-term goals like building an emergency fund, or big long-term ones like retirement?
Your "why": What does financial security mean to you? Travel? Less work stress? A comfortable future for your family?
Be honest: It's okay if your goals seem huge or a little vague – that's where the planning magic happens!
Pro Tip:
Goals give shape and purpose to your financial plan.
Why work with Foresight Financial Planning?
Optometrist-focused: We 'get' the unique challenges and opportunities facing eye care professionals because that's all we do.
Fee-only, flat-fee structure: Advice is always in your best interest, not driven by commissions or by how much money you have.
Fiduciary standard: We are legally and ethically bound to put your needs first.
Ready to take your first step?
If getting a handle on your finances feels overwhelming, or you're dreaming of a future where money worries less, it might be time to partner with a financial planner. Schedule a free introductory call with Tyler Day, founder of Foresight Financial Planning, to discuss your situation and see if we're a good fit.
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