Dearborn County LB: I know you’re an advisor, so I can probably guess your answer to this, but what’s the value in working with an advisor? , save a lot of money?
answer: You may be surprised that we are about to say this, but not everyone needs a financial advisor. Some people like working with numbers and have the time. Frankly, some people are good at doing it themselves. But most people don’t fall into this camp.
Simply put, qualified Trustee A financial advisor is most helpful in two ways: First, you can add real value to your portfolio through things like dynamic investment strategies and portfolio construction (some studies say he averages more than 4% returns per year). , forward-looking tax planning, ongoing analysis and rebalancing, and more.
Second, he or she can offer more qualitative A difficult value to put a price on. For example, by providing comprehensive financial planning, advisors can provide advice on debt management and social security claims strategies, assist with household financial goal setting, provide estate and estate planning guidance, and more. Most importantly, he or she can help prevent you from making an irreparable financial mistake.
So, while not everyone needs the services of a financial advisor, wouldn’t it be great to have an ally and advocate to take a heavy weight off your shoulders? Because I think there is.key; he or she Full-time Trustee.
FS of Monfort Heights: Would you recommend a credit freeze or credit watch?
a: Both of these are useful tools for protecting your personal information, but there are two important differences to point out. Credit Watch does exactly what the name suggests. Only monitor credit reports for suspicious activity, potential errors, etc. Unlike a credit freeze, it does not freeze your credit or prevent fraudsters from opening accounts in your name.
Therefore, if you choose only one of these options, we generally recommend a credit freeze over credit monitoring. You’ll need to set the freeze separately for all three credit bureaus (Experian, TransUnion, and Equifax), but it’s a fairly straightforward process. And, again, it’s free.
The big caveat here, of course, is that if a lender needs access to your credit, for example, to open a new credit card, take out a mortgage, or take out a car loan, it’s temporary. In other words, it is necessary to “unlock” (or “thaw”) the bureau credit freeze used by lenders. So make sure he keeps the PIN in a safe place whenever it freezes.
Also note that every 12 months, you can access your credit report free of charge from each of the three bureaus at annualcreditreport.com. So in a way this can serve as an alternative way to monitor your credit report without purchasing a service. (TransUnion in September, pulled from Equifax in September).
Here’s Allworth’s advice: Credit freezes give you more protection from scammers, so it is highly recommended to have them in place.
Each week, Allworth Financial’s Amy Wagner and Steve Sprovach answer your questions. If you, a friend, or anyone in your family is having money problems or problems, feel free to send your questions to firstname.lastname@example.org.
Responses are for informational purposes only and individuals should consider whether the general recommendations in these responses are suitable for their particular circumstances based on their investment objectives, financial situation and needs. If readers have any doubts about the applicability of any particular issue to their circumstances, they are encouraged to consult a professional advisor of their choice, including a tax accountant and/or attorney. Retirement planning services offered through Allworth Financial, an SEC registered investment advisor. A registered broker/dealer and FINRA/SIPC member, he offers securities offered through AW Securities. Visit allworthfinancial.com or call 513-469-7500..