Fee-Based Advisor

A fee-based advisor has every motivation to be your financial consultant and help you manage the investments you have chosen. The fee-based business model focuses on a relationship – the ongoing supervision of the client’s assets under management (AUM), with part of the advisory fees dependent on the performance of those assets. This encourages a sense of partnership and collaboration in planning your financial future. As a fee-based advisor, I have the same goal you have – the goal of growing your assets. We both succeed when that happens.

Traditional IRA, Roth IRA & IRA Rollover

With a Traditional IRA, you may qualify for a tax deduction on your contributions if your household income does not exceed certain limits. Whereas with a Roth IRA, contributions are made with after-tax money and are not tax-deductible.

Group/Individual 401(k) Retirement Plans

A 401(k) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 401(k) are either tax-deferred pre-tax contributions or after-tax contributions providing tax advantages when you retire. Second, many employers provide matching contributions to your 401(k) account which can range from 1% to 100% of your contributions. The combined result is a retirement savings plan you cannot afford to pass up. Traditional 401(k) accounts provide a tax break now, as contributions are not taxed at the time of investment. Instead, taxes are paid on withdrawals, including any earnings. Getting a tax break at the time of investment will leave more money in your pocket now — money that can be invested, saved or spent. Roth 401(k) accounts provide a tax advantage later. Contributions are made with money that has already been taxed, so you will not have to pay taxes on qualified withdrawals, including earnings. The Individual or sometimes called Single or Solo 401(k) plan isn’t a new type of 401(k) plan. It’s a traditional 401(k) plan covering a business owner with no employees, or that person and his or her spouse. These plans have the same rules and requirements as any other 401(k) plan.


The purpose of insurance is to shift financial risks to insurance companies. It is not only determining the right amount of insurance but also the right kinds of insurance in light of your overall financial situation and your stage in life. If you haven’t examined your life insurance policies, homeowner’s policy, disability policies and other insurance policies lately, they may no longer meet your needs. Your financial circumstances might have changed – perhaps you have children or you have more financial obligations. As a competent and ethical financial planner, I can offer an objective, comprehensive look at what mix of insurance you need, how much and for how long you need it. In addition, as your financial planner, I can work in tandem with your insurance agent if you already have one.

Long-term Care (LTC) Planning

Planning for long-term care is something everyone should do. However, many people simply don’t. Taking a wait-and-see approach may leave you faced with the prospect of using retirement assets to pay for long-term care services.

LTC Insurance as an Option: Five Reasons You Need It

  1.  The cost of long-term care services is high. The national average cost for a semi-private room in a nursing home is more than $79,000 a year. Care received at home can be costly, too. Homemaker services – help with cooking, cleaning, grocery shopping, etc. – run approximately $19 per hour, or more than $36,000 per year based on services received eight hours a day, 20 days a month. And care provided by a home health aide – someone who administers medications, monitors health conditions, etc. – costs even more.
  2.  Most people haven’t saved enough. Even if you think you have saved enough for retirement, you probably aren’t planning to use those funds to pay for long-term care services. Many people who think they can self-fund their long-term care expenses are faced with liquidating assets – selling a home, cashing in stocks or mutual funds or dipping into 401(k) accounts.
  3. You’re probably not covered. Many people mistakenly believe their long-term care costs will be covered by health insurance or Medicare. But health insurance doesn’t cover long-term care services. And Medicare provides a limited amount of skilled care to help you get back on your feet after an illness or injury. In addition, Medicare doesn’t cover custodial care (help with the activities of daily living), which is the type of care most people need. Medicaid, on the other hand, does cover long-term care services, typically in a nursing home, but only for people with limited resources. In order to qualify for long-term care benefits under Medicaid, many people would first have to “spend down” their assets.
  4. Most people don’t want to become a burden to their families. Sure, most family members will step in to help when a loved one needs care, but they may not be able to provide all the care that’s needed. A spouse may not have the physical strength to be the primary caregiver. And kids have their own family and career responsibilities. Assuming the role of full-time caregiver may mean quitting a job, reducing work hours or passing up a promotion, not to mention the strain it puts on otherwise loving relationships.
  5. Long-term care services aren’t just for older people. A prolonged illness or injury can leave people of any age unable to care for themselves. And with medical advances helping to save the lives of people with catastrophic conditions like head injuries, heart attacks, cancer and strokes, people who suffer from these conditions may need years of care.

Ask yourself these questions:

What’s your plan?

How will you pay?

Which asset will you use?

Who will take care of you?

Which child will you live with?

Prolong your independence and preserve your family relationships. LTC Insurance is a product people truly need.

Estate Planning

If you own assets, you have an estate. A Will is critical regardless of your age or the size of your estate, yet more than half of Americans do not have a will. A will specifies who receives what assets when you die and if you have young children, a will can set up a trust for them and designate a guardian to care for them. If you don’t have your own estate plan, known as dying intestate means your state will determine one for you in accordance with state law – one that you and your beneficiaries might not like. For example, if you want all of your assets to go to your spouse but you don’t have a will, state law may dictate that half of your estate goes to your wife and the other half goes to either your children or your parents. Along with a will, another important legal document is a power of attorney, which allows you to designate a representative to perform certain duties for you in the event you can’t. For example, if you become incapacitated or ill, the representative could write checks or make legal decisions on your behalf. All adults, regardless of age or net worth, should consider legal documents necessary to carry out their wishes referred to as advance directives, which may be required each time you are admitted to the hospital…

The three such documents are the following:

  • Medical power of attorney, sometimes call healthcare proxy, which gives a designated representative the power to make medical decisions for you, for example, to continue or not continue life support.
  • Living Will, which is a statement of your personal wishes as to what life-sustaining medical treatment you want or don’t want if you become terminally ill.
  • HIPAA – the federal Health Insurance Portability & Accountability Act of 1999 requires confidentiality of medical records, provides for waivers that allow your agent to obtain the records necessary to make decision or prove incapacity.

Discuss these issues with family members, particularly those who will serve as successor trustees or agents under powers of attorney, so that they’re aware of your intentions and know where to find your important documents.