Unlocking the key to financial planning starts with addressing the hurdles that prevent many from taking that first step. The managing partner of Edward Jones, Penny Pennington, joined TheStreet's Sara Silverstein to discuss the steps people can take to overcome personal finance challenges.
Full Video Transcript Below:
SARA SILVERSTEIN: And one of the hardest things that saves us investing in financial planning is getting started. What is the hurdle that you see before people make it to you who have it on their mind?
PENNY PENNINGTON: Well, every person has got an origin story for how they feel about money. And many times it starts with the way they were brought up with experiences they might have had as a young person, as young people with experiences they're having today with their budgeting or their cash flow or decisions they're making about student debt. All of that comes home to roost in an individual in how they feel about money and the confidence that they have in approaching a professional financial advisor to learn and get advice.
And sometimes people feel like I don't have enough money or I have too much money or I don't know what questions to ask. I don't know what these all these financial terms mean. And so all of that becomes a stopper that we want to break through for our clients.
You and I were talking earlier and the metaphor that I used as if if we own a car, we know we have to take that car in for maintenance on a very regular basis. I have no idea what's going on under the hood. I don't even know what piece is part, and I don't know what questions to ask, but it doesn't stop me from taking my car in when I know that that it needs some maintenance or worse.
The same is true for good financial advice. You deserve good financial advice. So have confidence in that and then choose a professional who will open up a conversation about you and who you are and what's important to you. Really discover those things about you and then learn as you go.
