Richard Feight

CFP, EA
Retirement, Investing, Small Business
86%
Helpful
22
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4
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12
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“I help self employed business owners and professionals organize their finances so they can retire on time.”
Firm:

IAM Financial, LLC

Job Title:

Managing Member

Biography:

In the 7th grade I knew that I wanted to work with money, like my dad. In 1997 I received a bachelors in finance from Michigan State University. In 2001 I became a Certified Financial Planner because CFPs are the standard for giving financial advice.

The longer I worked in the industry, the more I heard about a group that had an even higher standard - NAPFA. NAPFA, or the National Association of Personal Financial Advisors, has the most stringent membership requirements of any association in my profession. They offer truly comprehensive, fee-only Fiduciary advice with no commissions, surrender fees, or hidden fees. That's why out of the more than 800,000 individuals in the country who claim to be financial advisors/planners, less than 2500 qualify for NAPFA. Because of my love for organizing, and desire to be a part of an even more prestigious group, in 2004 I became a NAPFA Registered Financial Advisor. 

To further enhance my specialty of working with retirees, in 2011 I added a tax service and became an Enrolled Agent with the Internal Revenue Service. Only Enrolled Agents, attorneys and CPAs may represent taxpayers before the IRS. This added service makes it easy for my seniors to have their planning, investment and taxes done in one location.

I currently serve as the membership director for the Midwest Board of NAPFA and on the Strategic Communications Committee for the Small Business Association of Michigan.

In my free time, I enjoy playing golf, teaching Yoshokai Aikido to kids and adults, and working on a personal finance blog, called Thinking Beyond Numbers, that’s changing the way the world thinks about money.

Education:

BS, Finance, Michigan State University

Fee Structure:

Asset-Based
Fixed

CRD Number:

2883774

All Articles
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September 2016
    Estate Planning
October 2016
    Personal Finance
December 2016
    Personal Finance
November 2016
    Investing, Stocks

All Answers
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    Investing, Starting Out
How should I begin to invest with $5,000?
100% of people found this answer helpful

Congratulations on starting so young. If I were investing $5,000 at age 24, and it was for retirement, I'd probably invest in index funds. There are a million to choose from, but something like the Vanguard Total Stock Market ticker VTI (prospectus) is a good place to start. There are 50 or so S&P 500 funds that would work as well. I like Total Stock Market funds because they give you access to large, medium, and small cap at the same time. Some even have international. As you add more funds, you can diversify into international developed and emerging markets.

If, however, you need the funds sooner than retirement, for buying a house, or something, I would not invest in all equities. Any funds needed in 1 to 3 years should be invested in money markets, CDs, or cash. Funds needed in 3 to 7 years can be invested in short and intermediate term bonds index funds. Beyond 7 to 10 years and your equities usually work. It all depends on your investing time horizon, investment plan, and risk tolerance.

To put together an investment plan, or financial plan, I'd suggest going to the National Association of Personal Financial Advisors, or the Garrett Planning Network. They offer good, fee-only, objective advice. Good luck.

January 2017
    ETFs, International / Global
How should a young Canadian professional invest in US ETFs?
100% of people found this answer helpful
September 2016
    Annuities
What is the average long term return on an equity index annuity?
100% of people found this answer helpful
September 2016
    Debt, ETFs, Taxes
What is the best financial move to make with a large tax return?
100% of people found this answer helpful
January 2017
    Financial Planning, Real Estate
Given our financial situation, should we rent or buy a house?
100% of people found this answer helpful
September 2016