“It depends” is an answer we don’t like to hear and is usually one we don’t like to give. Yet it is often the best answer we can get.
Early in my career as a financial advisor, “the answer” is what I thought I needed to give. With my study and knowledge of the technical ins and outs of financial planning, I thought the answer was the value I provided.
It didn’t take long to understand that a reply of “it depends” was the best answer for the client. How could I provide a recommendation until I understood: the family situation, income, savings, tax bracket, home ownership, debt, and plans for the future, among a myriad of other details?
So I learned that “it depends” was the most fitting reply and gave me the opportunity to ask the questions that would help me come to know the situation. It provided the client an opportunity to share the details but more importantly to share their goals and dreams with me.
When you hear “it depends” know that is not an out or an escape. It is an attempt to custom fit and make to order. We should be so lucky to give and receive this answer.