Jason Holtโs fascination with finance started at an early age.
โGrowing up, I was the kid who would see change on the ground and Iโd be down there picking it up,โ he said with a laugh. โMy parents told me I always had a good eye for spotting money.โ
As Holt got older, his interest in finance grew even deeper. After graduating from St. Cloud University, he went to work as a personal banker and when he was setting up his first 401(k), he discovered a true passion for investments and was eager to learn more about how they worked.
โI didnโt really know what I was doing at the time,โ he said. โI just knew I really liked it.โ
Through his employer, Holt participated in a program that allowed him to earn the licenses he needed to become a financial advisor. And now, after 16 years in the field, he couldnโt be happier with the career path heโs chosen.ย
โI really enjoy helping people retire and get to the next level,โ said Holt, who is the vice president at Wayzata-based Ameriprise Financial Services and also serves on the Mound City Council. โItโs incredibly rewarding to see the people Iโve been working with from the beginning are still going strong.โ
If youโve been thinking about working with a financial advisor – or even if you already are – here are a few of Holtโs thoughts and suggestions for making the most of the relationship:
- Just do it: Talking about finances makes many people uncomfortable because they simply donโt understand them, but by failing to plan, youโre putting yourself – and your family – at risk. For that reason (and many more) Holt encourages people to sit down and meet with an advisor so they can get the ball rolling sooner rather than later. โItโs not a big scary process,โ he said. โAnd once people do it and get a plan in place, they feel a lot more confident than they would have if they were just saving money and crossing their fingers hoping it all works out and theyโll be able to retire one day.โ
- Get a second opinion: Just like you would with a doctor regarding your physical well being, itโs OK to get a second opinion from another advisor to ensure youโre on track for a healthy financial future. This can be beneficial in several ways. First, it can build your confidence in what youโre already doing. Second, it can provide you with a different perspective. Third, it may help you realize that your needs could be better served by working with someone else. โYou want to find someone you jive with,โ Holt said. โAfter all, this is the person whoโs going to be handling your money. You want to make sure you get along with them.โ
- Be vigilant: Once youโve got your plans in place, it can be tempting to go on autopilot and assume everything will pan out in the end. However, constant changes in the economy due to things like politics and the pandemic mean that the investment choices you once made may not be right for you now. For example, Holt often works with clients who set up their 401(k) plans many years ago and never reviewed a single one of their statements. โIโll look at their accounts and see that theyโre in a stable value fund that hasnโt done anything in forever, or theyโre in some crazy aggressive fund that they shouldnโt be in and next year is retirement,โ he said. On the flip side, Holt has clients who closely monitor the market and feel panicked when they see any volatility. In those cases, heโs there to prevent them from making any drastic changes based on their emotions in the moment. Both of these scenarios underscore not only the importance of having an advisor like Holt on your side but also making sure you communicate with them regularly. โDonโt be afraid to talk to your advisor,โ he said. โThatโs what weโre here for – to keep you on track.โ
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