This chapter explores money fungibility and the importance of strategic financial planning, particularly concerning taxes. It highlights the value of consulting tax professionals and discusses buffer assets like HELOCs and home equity conversion mortgages for accessing cash during market downturns.
Here's what we learned by hiring a financial advisor for a fixed fee of $1,000. Rather than pay a costly ongoing assets under management (AUM) fee, we wanted to test out this increasingly popular fee-for-service advisement model. Eric and Jason discuss each hired the same fee-only, advice-only advisor for $1,000 to evaluate their portfolios and answer a variety of key questions. They share how they found this advisor, what the process was like, the specific questions + answers they had, and who they think could benefit from such a service. Is this the right option for you? Maybe.
Show notes: https://twosidesoffi.com/1Kadvisor