Three Key Reasons To Use A Fee-Only Financial Specialists There are three different kinds of financial advisors: the commission broker who sells an item for a commission, the fee-based consultant who offers investment management for a percentage of the assets invested, and the fee only financial planner who provides a comprehensive financial plan for an hourly fee. Here, we will talk about five main reasons why you may choose a fee-only financial planner over the other types of financial advisors: 1. Fee-only means no bias. One of the key reasons people choose fee-only financial planners over other consultants is the fact that they are not compensated based on the investments they recommend. Fee-only financial planners are only paid out by their clients, hence there's no bias when making investment recommendations. They get paid the same whether they recommend an index fund or an annuity or various stocks and bonds. 2. Help with pension planning, budgeting, taxation and even more. Most commission brokers and investment managers only provide investment advice, leaving you to struggle through planning for retirement on your own. Fee-only financial planners may aid you with all of your financial questions including are you saving sufficient for retirement, do you still require life insurance, how can you minimize your taxes, and much more. 3. Only the advice you require, when you need it. With fee-based consultants, you pay an annual fee for them to manage your portfolio. With fee only financial planners, you just pay for suggestions when you need it. While most people like to check in with their financial planners once a year to make sure they're still on track to meet their targets, it's entirely up to you how much time you wish to spend with your financial planner. You can meet with your financial planner three times a year or once every three months, it's your choice. Tips On How To Apply For Social Security Benefits Social Security was originally created to provide retirement benefits to workers, but the program has grown tremendously and now Social Security provides disability benefits, death benefits and other family benefits in addition to retirement benefits. Have You Planned To Start Saving For Retirement? Getting ready for retirement is a lot harder than it used to be. Companies no longer offer pensions and many are reducing or eliminating matching contributions to 401K plans. In addition, Social Security benefits are expected to be smaller and you may have to wait longer to collect them. Social Security Spousal Benefit: What Benefits Is Your Spouse Eligible For? Can a spouse collect on her husband's social security if she reaches retirement age before her husband? No. In order for a wife to collect Social Security benefits on her husband's earnings the following requirements must be met: A Few Key Exceptional Roth IRA Withdrawal Rules Which Might Assist You To Take Money Out Of A Roth IRA Roth IRAs are governed by the IRS; as such there are many Roth IRA withdrawal rules that must be followed before you take money out of your account. In this article we'll discuss Roth IRA distributions; when they can be taken, when and if they are taxable, when and if penalties might apply. On The Subject Of Social Security Impairment: What You Must Be Aware Of Prior To Filing For Handicap Benefits Most people think of retirement when they hear Social Security, however Social Security provides benefits to people who are disabled as well. The list of requirements that must be met for Social Security disability benefits is pretty long, and many people don't meet those requirements. What You Need To Know About Financial Planners There are many different types of financial planners. Not only are financial advisors compensated differently, but the services they provide vary quite a bit as well. Here is a quick summary of the different types of financial advisors and how they can help you. The Way To Get A Social Security Cost Of Living Increase A cost-of-living increase is basically a reassessment of the average amount of money that a person needs in order to survive. Cost of living increases are often provided by employers to employees to make sure that people's incomes are substantial enough for them to meet the basic costs of living. Are Social Security Benefits Increasing In 2012 The millions of people who depend on Social Security to get by will be thrilled to know that it will be increasing in 2012. This is the first time in years that Social Security benefits have been increased. |
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