A&I Financial Services > Blog > In A Recession, Ask Your Financial Advisor These 5 Questions

When markets go sideways, it can feel like all of your plans do, too. Recessions can bring with them a lot of uncertainty around life plans, from retirement dates to vacations to month-to-month spending to – well, I’m sure you don’t need me to continue the list!

After several years of a strong (if volatile) stock market, a recession can sting particularly deeply. Thankfully, you have a superpower in the back of your pocket for times like these: you have a financial advisor.

Now may be one of the best times to speak with your advisor.  Your advisor will come with his or her own insights depending on your situation, but if you’re struggling to think through what to ask, here are a few prompts to get you started:

  1. What are your thoughts about current market and economic conditions?
    • Pro tip: Don’t be afraid to share your perspective, too – including fears and worries that you may have.
  2. What do different scenarios look like for this market?
  3. How does this impact any of my upcoming plans (i.e., a retirement date, house renovations, etc.)?
  4. Are there any tax mitigation opportunities that the market presents?
  5. If retired: Do I need to adjust my withdrawals and spending?
    • Pro tip: if the answer is no, it may be helpful to talk through scenarios where you would need to adjust your spending, if it is on your mind!

Talking with a financial advisor can bring great peace of mind in the middle of economic uncertainty. Bring these questions – or any other you may have to your next meeting with your advisor.