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Fresh Perspective Planning Podcast is about taking a fresh new look at common Financial Planning Topics and simplifying them. With over 40 years of combined experience in the financial planning industry, Mike & Rich are looking forward to simplifying and clarifying various retirement and financial planning topics.
In today’s episode, Michael and Rich cover the fascinating topic of flat fee planning. What does it mean?
Well, many clients, when they engage with a fiduciary planning firm like Milestone Asset Management Group, are looking for comprehensive planning by integrating Tax Planning, Investment Management, Tax Optimized Distribution Strategy, Estate Planning, and developing a comprehensive, actionable plan.
Well, many Fee-only firms do that, but then they ask you to move your money to them, and they will charge you a fee called Asset Under Management (AUM) to work with them. This is a great model and works really well unless you are someone who wants to manage your money yourself. Well, now your list of options is significantly lower because most firms need to charge you an AUM fee. Well, we have seen an influx of new clients that are looking on ongoing planning engagement only. IF this is you – this episode is for you. In this episode, Mike and Rich go over your options and how you can find and work with a Flat Fee advisor like Milestone Asset Management Group.
What is Bitcoin and cryptocurrency, where did it come from, what it does, what are the risks, is it for real, should I invest?
Considering Roth conversions, but have questions? What is the best way to implement a Roth Conversion? How does that impact my social security?
When should you start claiming social security? Does it make sense to delay and do some tax planning? What social security strategy is right for you?