Posts by Jeremy Suschak, CFP®
Financial Advisor
Ask an Advisor: I’m Hiring an Advisor to Manage My $4-5 Million Estate. Should I Choose the $8k Flat Fee Over a $35k Asset-Based Fee?
I’m nearing retirement and I’m wrestling with hiring either a flat-fee or fee-only (AUM) advisor to help with retirement planning and ongoing investment advice for an estate worth between $4-5 million. There is a big cost difference between the two: the flat fee would be about $8,000 a year, while the fee-only advisor charges about… read more…
Financial Advisor
Ask an Advisor: My Advisor Relies on a Sister Company to Manage My Account and Never Reaches Out to Me. Is This How He Should Act?
I’ve had a fiduciary financial advisor for over five years. He recommended a type of sister company working with him to handle my account. I never hear from him unless I email a question or ask to invest in a CD or stock. Is this the way a financial advisor should act? He lets the… read more…
Financial Advisor
Ask an Advisor: My Advisor Charges a 2% Fee But He Doesn’t Provide Tax Advice. I Have an $850k Portfolio. Am I Paying Too Much?
My advisor charges a 2% fee for financial advice. He does not provide tax advice. My portfolio is currently worth around $850,000. Does this fee sound appropriate? – Tim Without knowing the full scope of services delivered by the advisor, 2% may be too expensive for a portfolio of your size and for a relationship… read more…
Financial Advisor
Ask an Advisor: I’m 62 and My Husband Is 68. Can I Collect Spousal Benefits for 5 Years and Switch to My Own at Full Retirement Age?
My husband began drawing his Social Security at age 62. He is 68 now (born in 1955), while I am 62 (born 1961). If I begin to draw my Social Security now it will be reduced, of course. Can I collect spousal benefits from him now and then switch to my benefit at my full… read more…
Financial Advisor
Ask an Advisor: My Advisor Sold My Nvidia Stock When I Hired Him, Costing Me $50k in Potential Profits. How Do I Deal With It?
I’ve had a financial advisor, who is a certified financial planner (CFP), since December of last year. I really find his advice super valuable, but I can’t seem to get over the fact that he sold all of my Nvidia stock when he took over as my CFP. I had bought $20,000 worth of Nvidia… read more…
Financial Advisor
Ask an Advisor: I Have $1 Million and Want It to Work for Me. How Do I Maximize Passive Income and Minimize Taxes?
I have a million dollars and I want to put it to work for me. Where can I put it to make the most amount of passive income from it? Also, how can I minimize taxes on that to be able to keep more of that money? – Andrea While today’s high-interest rate environment has… read more…
Financial Advisor
Ask an Advisor: My Wife Claimed Social Security at 65. Can She Collect the Max Spousal Benefit When I Retire?
My wife started collecting Social Security at age 65, but it’s a tiny amount. I am planning on retiring in two years at 65 (67 is my full retirement age). Can my wife collect spousal benefits of 50% of my full retirement benefits once I retire? – James Unfortunately, the likely answer is “no,” although… read more…