How to find best financial advisor for you - Page 2

esmeraldagooch · ‎03-10-2010

We have a financial advisor but just hired a aditional fiduciary for non biased advice. We are really liking this guy who has no skin in the game.

Catiele · ‎08-20-2012

This is a very serious question for all of us. Personally we wouldn’t have one if my son wasn’t a financial advisor. We have worked hard, always lived within our means. If you own a home and are dept free with a steady income I wouldn’t think you need one. We all know that things can change with one serious health problem. If you think you need one shop around. Talk to his clients if that is possible. My son cares about his clients that’s for sure. Good luck with whatever you decide.

FuzzyFace · ‎03-15-2010

@esmeraldagoochwrote:
We have a financial advisor but just hired a aditional fiduciary for non biased advice. We are really liking this guy who has no skin in the game.

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1) You are SMART.

2) If I wanted a financial advisor that's also a fiduciary, I'd talk to someone at my bank. They may not have the kind of advisor/fiduciary I need but they could probably point you in the right direction. Or call an investment company (Ameriprise is the only one I can think of right now but there's other ones too) and also do your research on the web.

Good luck to you and congratulations on thinking ahead. When DH and I got married 30+ years ago, we didn't have two pennies to our names, and we didn't get started on saving for retirement till we were in our 40's. Thanks for an advisor who is also a fiduciary, we're retired and in pretty good shape.

sissel · ‎08-13-2010

There is a difference between advisor & investor. Advisor will tell you what you need to invest but it's up to you to take advice, investor will invest for you & take commission. Most people don't understand money and just let investor do it & pay commission. I will say if retired or getting ready, pay off your house. Soc.Sec you can't live off of it. Hope you have money in banks like 401K. Medicare & supp. medicare (which you need) will be taken out of your soc sec check. also soc.sec does not take taxes out you have to do that at the end of the year. Everyone should have a ROTH whatever age, now retired we can't put any more money into it now, if before 55yrs take interest money out you pay fine & taxes (not good to do that) but any money you pay into it you can take it out without penalty like a savings acct but better interest. Never have a savings acct only get 2% interest get a ROTH. My 29yr daughter has it but we told her that you take out what you put in not the interest. Also go to a place like a Fidelity or some other bank that does more than banking, they do all this stuff. My bank investor said to spend money & I said well what about assist living I need to be aware of this. He had no concern for that. Very strange, they do banking but find something that is just more than banking. It's your money be aware of what is going on.

Carmie · ‎10-25-2010

@sissel When you have SS, you can elect to have Federal taxes deducted from it each month so you don’t get stuck with a bill at the end of the year.

You have to fill out a form and send it in on your own. The information is on the SS website.

sissel · ‎08-13-2010

Never knew that, by the time they take the taxes & medicare I have ******. but will look into this. thank you, hate to wait til end of year to report taxes, never knew this. thank you