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Thread: How much is your financial advisor costing you?
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Old 07-01-2025, 06:09 AM
vdelaglio vdelaglio is offline
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Originally Posted by manaboutown View Post
I have an accountant who will surely be able to recommend a bookkeeper to handle my household expenses. I shudder to think it may come to that but one never knows.

I agree about the possibility an advisor could cost me a lot in taxes by selling appreciated stocks and ETFs. Some have enormous gains as I have held them since the 1970s and 1980s. That is why I am talking to several to determine their approaches. Frankly, for now, I like things just as I have set them up. I am retaining enough in cash and treasuries to last me through the end of life given my life expectancy and a few extra years.
A good wealth manager will be using tax lost harvesting throughout the year to offset taxes. depending on your situation that might justify fees and always ask if they are a fiduciary.
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