What Your Financial Planner Wishes You Knew

As a headshot photographer, I work with a lot of small business owners, influencers, and entrepreneurs. The topic of money comes up frequently. Who has it, who doesn't, how to get it and how to keep it? I thought it would be great to ask Denver financial advisor Julia Bourlakov from Gaia Wealth Management a few questions. Here's what your financial planner wishes you knew. By the way, this applies to everyone not just business owners.

1. Julia, what is something you think your clients are too hard on themselves about?

I would say budgeting. People think that to be strong financially they have to budget. I view it differently: if you pay yourself first and spend less than what you make, I don’t think strict budgeting is required. I think regular reviews of where the money is going is a must though!

2. What is something most people might not know about your job or be surprised by?

That it’s not all about number crunching. It’s more about defining your goals, values, and getting on the same page with your spouse.

3. What do you wish more people knew about investing?

That investing is like going to the gym or having a successful relationship: consistency and persistence can bring great results over time and deeper fulfillment.

4. What are two things people should definitely do and two things they should avoid doing?

Two things that people should do are:

1. Review their bank accounts and calendars to make sure that they invest their most precious resources: time and money into something that aligns with their values.

2. Invest systematically and allow their dividends to reinvest if they don’t need the income.

And two things to avoid:

1. Day trading – it’s very stressful and hard to succeed with consistently!

2. Investing all their money into crazy ideas – if it sounds too good to be true – very often it is…

5. What’s your best tip for someone trying to create a good relationship with their financial advisor?

What a great question, Deanna! They need to make sure that they have a good open relationship based on trust and it grows from talking to them regularly, asking questions and engaging with them! Get to know them an allow them to know you as a person!

Great advice Julia!

The great thing about Julia is she’s got a great no nonsense way of talking about financial planning. You don’t need to be an expert to follow along with her. If you’ve been considering contacting a professional financial advisor she’s really wonderful at helping you define your financial goals and planning for the future.