Ask Terry Questions Someone to review my investments and advise on consolidation

Someone to review my investments and advise on consolidation

By Terry Savage on July 05, 2024 | Financial Planning / Retirement

Hi Terry, I looked at Wealth Ramp, but it seems to be a more extensive commitment to working with a financial advisor overtime. I’m 81 years old and want to consolidate the investments I have, and would appreciate having someone to advise on this.
How do I find such a person? Thank you!

Terry Says

I always recommend Wealthramp because you will be connected to a fee-only, fiduciary financial advisor — who is not trying to sell you something or make commissions.

When you ask just anyone about consolidating your investments, you are opening yourself up to advice that may make the advisor richer than you!  As well, there are tax implications to “consolidating” or selling some investments.  Enough gains, and you could put yourself into a higher Medicare Part B premium every month!

And why would you take gains at this stage of your life if you have long-held investment gains — unless you need the money to live on?  Your heirs won’t pay ANY taxes under current law, if you leave the shares to them!  (And that assumes you have a will or revocable living trust, and have properly titled your accounts!(

So you need some strategizing that involves knowing your entire financial picture.  And that’s why I recommend the Wealthramp process!  Pam Krueger Wealthramp – Terry Savage



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