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Non-investment Financial Adviser Advice
  #1  
Old 11-09-2016, 02:07 PM
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Polar Bear Polar Bear is offline
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Default Non-investment Financial Adviser Advice

I'm comfortable managing our modest nest egg. But I'd like to get some general advice on a strictly pay-per-services basis...no fund investments involved at all. Just pay somebody an hourly fee (or something similar) for their advice regarding other financial things.

For example, possible house purchase...how to handle purchase of a home before selling existing home. Financial wisdom...or lack thereof...of doing so. How to best handle the whole process...cash-flow issues, etc. What are the long-term implications of such an endeavor.

This is just one example of the sort of advice I'm looking for. Again, I'm not looking for advice related to or management of our money. I'm just looking for general advice and the answer to some questions.

You folks have any recommendations? (Or warnings? Heh.)

Thanks.

  #2  
Old 11-09-2016, 03:28 PM
NYGUY NYGUY is offline
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A local CPA may be willing to assist you.
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  #3  
Old 11-09-2016, 03:46 PM
Daddymac Daddymac is offline
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I Second that .. Get a Good CPA. He will be able to assist you
  #4  
Old 11-09-2016, 03:52 PM
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dewilson58 dewilson58 is offline
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As a CPA, I would be more specific than the prior two recommendations.

I would get a Tax Practicing CPA............Minimum of 10 years experience.

Most CPA's (in larger firms) are doing audits of financial statements and are not advising individuals. Their experience is with companies.
  #5  
Old 11-09-2016, 07:19 PM
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BK001 BK001 is offline
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Personally, I would look for a CFP (Certified Financial Planner) – these people deal with individuals rather than companies and have training in:

• General Principles of Finance and Financial Planning
• Insurance Planning
• Employee Benefits Planning
• Investment and Securities Planning
• State and Federal Income Tax Planning
• Estate Tax, Gift Tax, and Transfer Tax Planning
• Asset Protection Planning
• Retirement Planning
• Estate Planning
• Financial planning and consulting

If you go to the CFP Board’s website at cfp dot net there is a "Find a CFP" search option on the upper right side of the page. I put in 32162 and came up with several local professionals. The listings provide names, background, compensation method, (some do require a minimum investment to manage, but others do not) disciplinary actions etc. I would call some of them and tell them what kind of help you need. If they can't help you I bet they would be able to refer you to other professionals you can. This is a good resource site.

Last edited by BK001; 11-09-2016 at 07:47 PM.
  #6  
Old 11-09-2016, 08:47 PM
suesiegel suesiegel is offline
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A great and FREE tool is morningstar fund x-ray. You punch in the funds, stocks that you hold and it will show you percentage that you have domestic, foreign, small cap large cap etc. With this tool you can put your holdings in as percentage of the total rather than dollars.

No matter what you decide, it is a GUESS. No one can tell you exactly how long you will live, the rate of inflation till you die, stock market returns, bond market returns, cd returns AND AS I'VE BECOME MORE AWARE OF GOVERNMENT RISK. The simple answer was spend 4% per year of what you have saved
and you will be ok. The simple rule was later cut to 3%. THE TRUE ANSWER IS IT IS ALL AN EDUCATED GUESS.

The FED says they want 2% inflation. Yet, medical costs are rising far more than that. I think they are TELLING US-this week- that inflation is 1.5%. Ten year treasuries pay you 1.5% AND YOU PAY FEDERAL INCOME TAX ON THEM. Oh and even at 2% inflation your money will buy 25% less 18 years from now.

READ-GO TO LECTURES-AND SIGN NOTHING UNTIL YOU ARE SURE YOU UNDERSTAND NO ONLY WHAT THEY ARE TELLING YOU BUT WHAT THEY ARE NOT TELLING YOU.
Non-investment Financial Adviser Advice
  #7  
Old 11-09-2016, 08:57 PM
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Polar Bear Polar Bear is offline
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Default Non-investment Financial Adviser Advice

Again...NOT looking for investment advice. Just a few questions regarding topics in my OP and related matters.

CFP sounds pretty good. Keep ideas coming.
  #8  
Old 11-09-2016, 09:08 PM
Jim 9922 Jim 9922 is online now
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Consider contacting Alisa Mitchell, CPA.; office in Lady Lake I believe she also has a law background, so she should be able to address your areas of concern. 352-572-9388
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  #9  
Old 11-09-2016, 09:15 PM
Investment Painting Contractors Investment Painting Contractors is online now
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Quote:
Originally Posted by Polar Bear View Post
Again...NOT looking for investment advice. Just a few questions regarding topics in my OP and related matters.

CFP sounds pretty good. Keep ideas coming.
If you own your home you can take out a home equity loan to buy your new home. When you sell your present home you pay off the loan. This is cheaper than a bridge loan. I hope this helps. Len
  #10  
Old 11-09-2016, 10:54 PM
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Quote:
Originally Posted by Investment Painting Contractors View Post
If you own your home you can take out a home equity loan to buy your new home. When you sell your present home you pay off the loan. This is cheaper than a bridge loan. I hope this helps. Len
I thought a bridge loan usually was a home equity loan. No?
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