I am emboldened to do this post because as an IFA sometimes you tend to ignore these questions. You do not give enough emphasis on “attitude” towards money. When I speak to a person and he says “can I get at least 18% in equity” my question is “why do you need 18% in equity” – and normally they do not have an answer. Instead try these probing questions:

  1. What do you think are your 3 smart money moves in your life?
  2. Did your parents fight over money?
  3. Who managed money in your parental home?
  4. Who manages money in your current home?
  5. Why  do you think you are better than your spouse for handling money?
  6. If you had all the money that you needed to live, what will change in your life?
  7. How important are your goals?
  8. Do you realize that there is too much clutter in your life – investing and otherwise?
  9. What are your top 3 financial worries?
  10. How much do you think you can spend on your kid’s education / marriage?
  11. In your happiest 3 moments of your life, did money play a role?
  12. What time do you reach the railway station for say a 6 pm train?
  13. What time do you reach the railway station for say a 6 am train?
  14. What is the minimum amount with which you can live in a worst case scenario?
  15. If you are out of work how long can your savings/ other assets last for you?
  16. Even if you have money, will you panic if you were told your job is over?
  17. How prepared are you for a long illness?  financially, mentally, and physically?
  18. Name 4 friends who are financially smart and WHAT DO YOU THINK they got right?
  19. Do you compare with your friends?
  20. Are your hobbies sucking your money?


Honestly many more questions….but how many will you remember?

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