Posts by Wharton Wealth Planning, LLC
How Much Do Fee-Only Financial Advisors Typically Charge?
Most people want to help ensure that the financial advice they receive is unbiased and truly in their best interest. A financial advisor’s compensation structure can make a significant difference in the recommendations they make. Fee-only financial advisors are independent of brokerage firms or insurance companies and are legally held to the fiduciary standard. The fee…
Read MoreIs the Best Place to Invest the Money in Your Retirement Account (or Individual Account) a Target Date Fund?
Is the best place to invest the money in your retirement account (or individual account) a Target Date Fund? It can be common and easy to put your financial planning and retirement investing behind your day-to-day activities. However, it is important not to overlook where you are investing your monthly retirement contributions. Many investors use…
Read More5% CD, Stocks, Bonds: What’s Best for You?
Many individual investors have recently demonstrated a strong appetite for various cash instruments (such as CD’s), especially as yields have been rising. It is important to note, however, that it may not be the best idea to over-allocate to cash right now. Below are some key advantages and disadvantages to think about with respect to…
Read MoreHow to Decide if a Roth IRA is Right for You (Updated for 2024)
What are the benefits of a Roth IRA and how do these accounts work? A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. With a Roth IRA account, you won’t pay taxes as your money potentially grows, and you can make tax-free withdrawals during retirement. The reason these plans are…
Read MoreWhat is Lump-sum Investing and How does it Work?
Lump-sum investing is investing a large amount of money all at once, rather than by making smaller investments over time. Most commonly, significant lump sums come from selling a business or real estate property, stock options (such as Incentive Stock Options (ISO’s) awarded by your employer), receiving an inheritance, a pension payment, or a divorce…
Read MoreWhat is a Fiduciary Advisor and is the Best Advisor to Work with a Fiduciary Advisor?
Advisors who possess a fiduciary duty to their clients are required to put their clients’ best interests above their own at all times. Many people are surprised to find out that this obligation isn’t required of all advisors. In fact, most advisors aren’t required to act as a fiduciary in all their interactions with a…
Read MoreThe Retirement Wisdom Podcast – Podcast Guide to Retirement Income and Saving Strategies and How to Make a Financial Plan
Sound retirement planning can provide you with a solid foundation for your next phase of life. David Rosenstrock, Certified Financial Planner, explains why you should have a formal financial plan as the cornerstone for your retirement planning – and common mistakes you can avoid. Click here to listen to podcast. Transcript for Podcast Below: Joe…
Read MorePlanning for Your Child’s and Family’s Financial Future- Financial Planning Tips for Parents and Grandparents
There are numerous action steps you can take to help set your children for a successful financial future. The average cost of raising a child today from infancy to age 17, excluding college and higher education expenses, is approximately $275,000 based on inflation adjusted U.S. Department of Agriculture estimates. Education costs are one of the…
Read MoreWealth Planning Strategies: What You Should Do to Maximize Retirement Income and Successfully Plan for Retirement
Whether you are a pre-retiree or retiree, there are several major areas you should think about to successfully plan for retirement. Retirement planning can reduce anxiety and increase happiness, security, and peace of mind. If you take the time to plan wisely, retirement can be a richer and more rewarding time of life. The first…
Read MoreWhat to Do When You Receive an Inheritance
When beneficiaries receive an inheritance, it is important to look at how this money fits into their financial plan. This will depend upon the size of the inheritance and the state of their financial situation. Regardless of the size of the inheritance, it makes sense to look for areas of your financial situation where the…
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