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By Terry Savage on June 25, 2024 | Financial Planning / Retirement

I have never used a financial advisor, and would like to know about costs and what there responsibility would be. And in addition what powers would I have to allow the advisor to take control of?

Terry Says

Read this:  Pam Krueger Wealthramp – Terry Savage

You don’t give away power to a financial advisor — ever.  But you do have long discussions about all sorts of issues, including not only investments, but plannign for income in retirement, taxes, estate planning, long term care and other issues.  The ultimate responsibility for your money always belongs with you — but a good, trusted FIDUCIARY advisor will explain all these issues to you — and your spouse/children — who should certainly be involved to some extent.

Try this process.  Have one meeting with one or more advisors.  Each will quote a fee depending on the work needed and the time involved.  Then trust your gut.  Ifyou start with a pool of FIDUCIARY FEE-ONLY advisors (like you get from Wealthramp) your only choice is your good feelings about the personality involved.

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