Financial adviser cites 1.25% cost of my portfolio yearly minimum expense to manage my finances. At present, with my estimate, over 20 yrs that comes to over $120 K. Pretty steep but I do not understand tax gains, best way to invest at age 67 with retirement MAYBE 2-3 yrs ? How do I find an accountant just to educate me and help me with my investments.
At this time, age 67, still working, good idea to convert my cash in bank to Roth IRA? Tax ding now but on top of my income, is this good move?
First, you are correct in suspecting that this is a huge fee that you don’t really need to pay in order to get good advice. But, second, you are WRONG in thinking that you need an accountant to help with your investments!
You were smart enough to accumulate this money, so I’m going to get you to a place where you can learn what you need to know about getting financial advice, whom to choose, what to pay. Then write back if you need more help. The website is featured at the center of my website. It is CampaignforInvestors.org — and it is designed exactly to answer your questions.