“How much did it cost?” is a question I often get asked.
The better question is, “Did you get what you paid for?”
The first question doesn’t distinguish quality.
The second considers value.
If you are sick or injured, and need surgery or healthcare to get better, cost weighs into the decision less than it does for many other areas of your life.
This is often the case because our health matters so much.
Closely tied to health is wealth.
There are many aspects of wealth that matter beyond money, but when it’s an issue in life that can really only be solved by money, then there really are not many substitutes.
Therefore, getting your wealth right is similar to getting your health right. When it comes to getting it right, cost matters less and value matters more. Will you really allow just any surgeon to operate on you? Most likely, you will not choose simply based on the lowest cost.
Likewise, with your wealth.
When it comes to your wealth management, your wealth planning, and your retirement planning, what matters more than cost is value, which comes down to getting what you pay for. Too often, people are paying for wealth management and wealth planning, but only receiving one. Not a good value.
Value is when you receive what you pay for, and even receive more, including tax planning, legacy planning, and tax management, that all work together along with your wealth management and wealth planning.
When you are seeking professional advice, be sure you are getting what you pay for (and expect more).
If you are wondering if you are getting what you are paying for, request a review of your current fees and cost in a complimentary 22-Minute Retirement Success Conversation.
“Price is what you pay. Value is what you get.”
– Warren Buffett