Tips for overcoming financial planning hurdles

The CEO of Edward Jones, Penny Pennington, joined TheStreet to discuss how to overcome hurdles when mapping out financial goals.

Transcript

00:00 And one of the hardest things it seems,

00:01 it's investing and financial planning, is getting started.

00:06 What is the hurdle that you see before people make it to you,

00:11 who have it on their mind?

00:12 Well, every person has got an origin story

00:17 for how they feel about money.

00:20 And many times it starts with the way they were brought up,

00:23 with experiences they might have had as a young person,

00:26 as young people, with experiences they're having today

00:29 with their budgeting, or their cash flow,

00:32 or decisions they're making about student debt.

00:35 All of that comes home to roost in an individual

00:39 and how they feel about money and the confidence

00:41 that they have in approaching a professional financial advisor

00:46 to learn and get advice.

00:47 And sometimes people feel like, I don't have enough money,

00:50 or I have too much money, or I don't

00:53 know what questions to ask.

00:55 I don't know what all these financial terms mean.

00:58 And so all of that becomes a stopper

01:00 that we want to break through for clients.

01:03 You and I were talking earlier, and the metaphor

01:05 that I used is, if we own a car, we

01:07 know we have to take that car in for maintenance

01:09 on a very regular basis.

01:11 I have no idea what's going on under the hood.

01:13 I don't even know what pieces part,

01:16 and I don't know what questions to ask.

01:18 But it doesn't stop me from taking my car

01:20 in when I know that it needs some maintenance or worse.

01:25 The same is true for good financial advice.

01:28 You deserve good financial advice,

01:31 so have confidence in that.

01:33 And then choose a professional who

01:35 will open up a conversation about you and who you are

01:38 and what's important to you, really

01:40 discover those things about you, and then learn as you go.

01:45 [BLANK_AUDIO]