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Tuesday, July 8, 2025
Today's Voicemail Culture & Etiquette
When Is It Time to Hire a Financial Advisor?
Financial advisors aren't only for millionaires.
If you wouldn’t use the term “wealthy” to describe yourself, you’re in good company. Most people don’t need a “wealth manager.” But middle-income families and individuals can benefit greatly from working with a financial advisor. Different financial professionals work with people of different net worths to help them meet personal goals.
Money expert Clark Howard suggests a rule of thumb: if you have less than $50,000 to invest, or if you’re at least 20 years out from retirement, you don’t need a financial advisor. At that stage, just focus on accumulating and investing your money.
Consider starting the search for a financial advisor if you’re asking any of these questions, and especially if they’re causing you stress.
- How close am I to being able to retire?
- How much can I commit to paying for my child’s college?
- I just received an inheritance. What’s the wisest way to invest this money today?
- I’ve never tried to organize my finances. What don’t I know that I need to know?
Then, consider what support you need. Would you benefit from a birds-eye-view assessment of your entire financial life? Look for certified financial planning services. Are you focused on how to invest your portfolio? You might be able to get by with a robo-advisor, “automated investing platform” that analyzes the market and tells you where to put your money. Do you want help solving the problem of retirement or paying for college? It could be worth hiring a financial advisor.
How do I choose a financial advisor?
First, understand the different pay structures. Some advisors (including robo-advisors) take a percentage of the assets they help you invest. That’s the Assets Under Management, or AUM, model. Other advisors are fee-based fiduciaries, meaning they charge a flat fee. Fee-based fiduciaries appeal to smaller investors, and many experts recommend only ever opting for this service model. The fees might be based on an annual retainer, a stand-alone financial plan, or an hourly consultation rate (usually $200 to $400). One sign of a good advisor is a transparent pricing plan that includes dollar amounts, payment schedules, and a clear explanation of the services rendered at each level.
Next, ask around for referrals. A trusted source’s recommendation to a local advisor will be invaluable. A Google search for “fee-only fiduciaries near me” is another place to start, as is the Garrett Planning Network, where you can plug in your zip code for a list of local advisors. You can also search the website of the National Association of Personal Financial Advisors, or NAPFA, using their online tool. All of the advisors listed on NAPFA are fee-based, but they may have minimum requirements for the size of your assets. Another resource is the Alliance of Comprehensive Planners (ACP), which also allows you to search fee-based advisors.
Here are some green flags to look for during your financial advisor search.
- They’re a CFP. A Certified Financial Planner (CFP) has specialized training, passed a rigorous exam, and follows an ethics code for comprehensive financial planning.
- They pass a background check on BrokerCheck https://brokercheck.finra.org/. The Financial Industry Regulatory Authority (FINRA) runs this website to offer consumers a check on financial advisors’ work history and any “disclosure events,” or complaints made against them.
- You feel comfortable with them. After an initial meeting, you should be feeling encouraged and enlightened, not baffled or worried.
- They’re free of conflicts of interest. Some advisors may earn a commission on financial products and therefore have an interest in selling them to you. Ask about whether the advisor stands to gain from any financial advice they give you. Another way to ask this question is to inquire as to whether they have a fiduciary interest to you as their client, meaning they’re professionally bound to put your interests ahead of yours. All CFPs are fiduciaries.
A visit to a fee-based financial advisor is like a visit to the doctor. You can get a holistic check-up of your financial health, or you can ask specific questions like, “How will the health of my portfolio be affected if I make this contribution to my kid’s college fund?” Investing a little time and money into that visit will likely help you to feel less queasy about your financial health, and could place you in a much better position for the future.
Additional sources:
https://money.usnews.com/investing/articles/how-to-find-a-financial-advisor-if-youre-not-rich
https://www.cnbc.com/2024/11/11/red-flags-to-avoid-when-choosing-a-financial-advisor.html
https://www.cnbc.com/2019/10/23/guide-to-choosing-the-right-financial-professional-for-you.html
https://www.letsmakeaplan.org/choosing-a-planner/10-questions-to-ask-your-financial-advisor
https://www.nasdaq.com/articles/to-the-middle-class-financial-advisors-arent-just-for-the-rich
Sunday, July 6, 2025
Five Myths About Hospice Care
Hospice care is all about living well during the time families have together.
Myth #1: Hospice is about killing off the patient.
Myth #2: Hospice is a place.
How to Choose an Excellent Hospice Provider: Questions to Ask
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Myth #3: No one ever leaves hospice care.
Myth #4: Hospice is prohibitively expensive.
- The insured person has been given a life expectancy of six months or less by a physician.
- The care the person is receiving is comfort care only.
- The person has Part A in place.
- The person is enrolled in a Medicare-approved program.
Myth #5: A small hospice provider is always better than a large one.
Sources:
Friday, July 4, 2025
The 'Boommates' Trend: More Boomer Women are Sharing a Home
As part of Senior Spirit's Lifestyle series on Solo Aging, we're taking a look at women aging solo, together.
Looking for a Boommate?
- HomeShare Online, formerly Silvernest, links homeowners with renters of all ages. According to their website, homeowners earn an average of $850/month, and renters save an average of $750/month as compared to a one-bedroom apartment.
- Home Match, from the nonprofit Front Porch, links older homeowners with people of any age seeking affordable housing and a flexible living arrangement. They say: “Home Match benefits everyone. It decreases isolation, provides housing security, and above all, builds community.”
- The National Shared Housing Resource Center is a network of home sharing organizations. They can connect you to local nonprofits that fill a niche in communities across the country. HomeShare Vermont, for example, has 40 years of experience linking up homeowners with potential renters, the Shared Housing Center has been serving Dallas since 1984.
- Also consider reaching out to your local Area Agency on Aging and/or local government. Some municipalities have ways to match people looking for housing with those offering it.
Wednesday, July 2, 2025
Luxury Summer Travel by Train and Bus
Cars and planes are the default summer travel modes within the U.S., but train and bus options are attracting travelers with luxury amenities.
Regional Rail
Luxury Bus Travel
- Red Coach operates in and between Florida, Texas, and Georgia. Their goal is to set the new standard of comfort in bus travel. Most noticeably, that includes the option to upgrade to First Class for the ability to recline 140 degrees with extra legroom–and those extra degrees could mean the difference between a night of rest and the night of discomfort you more often associate with long bus trips. A one-way ticket from Miami to Orlando starts at $24.99.
- Vamoose opened in 2004 to fill a gap in the market: a clean and comfortable bus experience where you could call a real person to book on the phone. Today, they operate daily service between New York City and three suburbs of Washington, D.C. A one-way ticket from Lorton, Virginia to New York City starts around $35.
- Tufesa started in Mexico and now offers service in California, Utah, Arizona, and several other Western states. Fully reclining seats are almost nonexistent on U.S. bus carriers, but they’re common in other parts of the world. Tufesa is bringing that level of luxury here: for an extra fee, you can buy a ticket that lets you take a bus from Los Angeles to Sacramento while basically sleeping in a bed. Be aware that, unlike most U.S. coach buses today, some Tufesa buses don’t offer WiFi. A trip from L.A. to Las Vegas costs in the range of $54.
The Auto Train
Tuesday, July 1, 2025
Famous & 65
Look who's turning 65 this month
July 14
July 22
Born in Colombia and raised in New York City, this actor and comedian is known for infusing his work with cultural commentary and humor. He broke through with performances in films like Carlito’s Way and Romeo + Juliet. In 1995, he earned a Golden Globe nomination for portraying the drag queen Chi Chi Rodriguez in the movie To Wong Foo, Thanks for Everything! Julie Newmar. He’s also known for bringing Sid the Sloth to life in the Ice Age franchise. On stage, his one-man shows—such as Freak, Ghetto Klown, and Latin History for Morons—blend autobiographical storytelling with social critique and have earned him multiple awards. An advocate for Latinx representation in media, he’s served on the board of the National Museum of the American Latino since 2022. Answer: Who is…. (click here to reveal)?
July 30
This acclaimed American filmmaker is known for his philosophical storytelling and innovative approaches to character. He first gained attention with the 1991 indie hit Slacker, which captured the spirit of Gen X through a series of loosely connected vignettes. His Dazed and Confused, a nostalgic portrait of 1970s high school life, became a cult classic. He’s perhaps most famous for his Before trilogy (Before Sunrise, Before Sunset, Before Midnight), which explores love and aging over nearly two decades with the same actors. His groundbreaking film Boyhood, shot over 12 years with the same cast, earned major acclaim for its emotional depth and experimental form. Born in Houston, he lives in Austin, Texas. Answer: Who is…. (click here to reveal)?