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MotorboatingSofaB t1_j5zruru wrote

I just DM'd you. Use my guy. He takes the time to understand your financial goals and puts you on the right path.

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MohnJaddenPowers t1_j610hg8 wrote

I do an annual/once every two years sanity-check with Claudia Mott at https://eponafs.com/ -she's very intelligent, patient, and honest. She's a fiduciary, so she doesn't get any kickbacks from selling a particular product or other.

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diversifyYoBondsman t1_j5zw0mv wrote

Know of a few. What type of advice are you looking for? Personal, 401k, estate, etc?

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[deleted] OP t1_j5zxlx7 wrote

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suspiciousd1rt t1_j605eif wrote

Just remember you do not need to rush into any decision. Make sure whoever you speak to is a fiduciary.

>NAPFA.org (The National Association of Personal Financial Advisors) NAPFA.org provides a database of financial advisors who have a fee-only structure and who are also fiduciaries.

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[deleted] OP t1_j61dht5 wrote

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suspiciousd1rt t1_j61je78 wrote

I'm sorry you are personally offended by my comment, if you are that good for your clients perhaps you should become a fiduciary.

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Gixxerfool t1_j61ch1p wrote

I have someone in Clark I will always recommend if you would like DM me.

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KayakHank t1_j61d7lv wrote

If you have any high interest debt, pay that off.

Max out 401k.

Most people can't get past that.

For tax management on the funds you received. Contact a tax guy.

I use Steven Lissner company in Mountain Lakes

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BF_2 t1_j63mnz9 wrote

There was an article somewhere about a year back that documented that the best financial advisor is none at all. Persons the best at managing their portfolios -- were dead!

You put your money into something that meets your risk tolerance, then leave it alone. Do NOT try to "beat the market." That's gambling and leads to losing.

Log onto some investment website (Charles Schwab, Victory Capital, or many others) and see if they have information available that don't require you to first invest through them. These will show the various risk levels and recommendations for investments for persons of various ages. There are even investments geared specifically to your age that require no other input from you.

My personal recommendation: Invest ONLY in mutual funds. Seek "indexed" mutual funds, an S&P 500 indexed fund being the best in my opinion. Look for no-load mutual funds. Keep some fraction of your money liquid -- maybe 1 year's expenses in a money market fund. You might want to balance your investments between stocks and bonds (i.e., mutual funds that invest in those) so as to land on your feet. And if you are facing a sudden large expense, move some assets to liquid investments beforehand so that a sudden drop in the stock market doesn't blindside you.

Altogether too many "investment counselors" are NOT fiduciaries -- they can use your money for their benefit by buying and selling frequently, gaining commissions every time they do.

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Linenoise77 t1_j5zvm9e wrote

Yes, but, well, he is booked solid for the next 20-30 years, and i don't know if he was able to hang on to his license.

But you seem to be on the right track already looking for ways to combine your needs to save some dough.

Edit: Serious part- What are you looking for? Just a basic accountant type person? A Financial Planner? An investment advisor? What type of structure are you looking for in fees?

The order is typically get a decent accountant to make sure you are maximizing advantages, if you like how that goes, get a planner who doesn't have skin in the game to get you on track to your goals and be able to check others work, and then once all of that is sorted, you get an advisor for, "ok, now i can take some risks, where do i go"

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[deleted] OP t1_j5zxprc wrote

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Linenoise77 t1_j5zz3ye wrote

I'd talk to a planner first, who you are paying essentially a flat rate for, and who isn't making money based off where they tell you to put your dough. They can help you assess where you can take risks and how things will align with your goals, and start the conversation and help educate you as to where you go from there with investments.

Also anyone whose first bit of advice isn't, "ok, lets get the taxes straight on this, sort out any liabilities, retire any 'bad' debt, and then cool our jets for a bit and wrap our heads around it" isn't the right person.

Edit: to clarify, there are different fields, and licensing around financial planning, investment advisement, etc.

The #1 thing you need to ensure is that whomever you are taking advice from has a Fiduciary duty to you. (ie, your financial well being comes before them). They will require some form of payment direct from you for their time and advice, and not be people who say, "I'll manage that money, but i get X off the top".

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