Evaluate the immediate financial choices carefully, such as cashing out investments versus utilizing tax-advantaged accounts like 529 plans for long-term goals. Understanding the benefits of avoiding capital gains taxes can enhance wealth accumulation strategies. Additionally, address urgent financial actions like reallocating risky funds from a portfolio and reassessing debt obligations, including mortgage pay-down, to optimize overall financial health.
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