Charles Stanley Wealth Managers: Questions are powerful because they create change
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Whether it's your first foray into investing or you're exploring your options for the future, curiosity through questioning gives rise to understanding and confidence
The Bath branch of Charles Stanley Wealth Managers are here to encourage more questions, so we can provide more answers. When our curiosity is triggered, we think more deeply and rationally and come up with solutions that are more creative.
Questions are powerful because they empower someone to create real change. Taking an active interest in planning your finances – from ensuring you are up to date with tax exemptions and allowances to planning for retirement – can maximise your income and boost your overall wealth. This is one area where using your innate curiosity really can transform your life.
How much do you really save each year? Where are you spending too much? Are you borrowing money in the most efficient manner? Do you know what your maximum ISA allowances are this year? What about Junior ISAs – or JISAs – for your children or grandchildren? Will this be a tax-efficient way to help future generations? How much will good financial planning save from the taxman when my inheritance is eventually distributed to those I love?
You should be confident asking questions – even if you think you are at risk of being seen as lacking knowledge. As the old Chinese proverb goes: "He who asks a question remains a fool for five minutes. He who does not ask remains a fool forever."
Sometimes, we ask questions simply to start a conversation. It is the endpoint of these conversations that produces a transformative course of action. Never be afraid to ask questions – however basic – as these will add fuel to your curiosity.
The more you question, the more your knowledge and understanding grows. This means you are better prepared for the future to delve into your future planning more deeply. Columbia University in the US cited four basic rules of questioning in its journalism course. They are as follows:
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- 4 Win a champagne and jewellery shopping day in Harrogate worth £500
- 5 Win a Stay at The Merchant's Yard, Tideswell in the Peak District
- 6 These are the Cornwall beaches awarded Blue Flag status in 2022
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- Prepare carefully, familiarising yourself with as much background as possible.
- Establish a relationship with the source conducive to obtaining information.
- Ask questions that are relevant to the source and that induce the source to talk.
- Listen and watch attentively.
Being curious about your financial future today can help you feel confident about tomorrow, by giving you the peace of mind that your finances will be robust and secure.
Edward Playne is Investment Manager at Charles Stanley Wealth Managers in Bath.
For more information on how we can help you be more curious, contact a member of our Bath team for your free financial health checklist.
The value of investments, and any income derived from them, can fall as well as rise. Investors may get back less than originally invested. Charles Stanley & Co. Limited is authorised and regulated by the Financial Conduct Authority.