Richard Feight

CFP, EA
Retirement, Investing, Small Business
89%
Helpful
22
Answers
4
Articles
15
Followers
“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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October 2016
    Personal Finance
August 2017
    Personal Finance
November 2016
    Investing, Stocks
September 2016
    Estate Planning

All Answers
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    Personal Finance, Real Estate, Women & Money
Are there any tips on saving more or better ways to save to purchase a new home?
84% of people found this answer helpful

There are really two ways to save. The first is just start putting "x" amount in a separate account every month or paycheck and let it grow. The hope is that your other expenses adjust, and you don't incur any debt. 

The second way to save is to look at all your income, subtract your taxes for your net income. Then you review your expenditures using a program like mint.com or quicken, total them up and subtract that from your net income.

If you have money left over, you save this moving forward. If you have no money left over, you are over-spending and need to look at your expenses and figure out where to make cuts. Reduce your insurance premiums by changing carriers and qualifying for "new business" discounts. Maybe cut back on latte's as David Bach explains in his book "The Automatic Millionaire", or get rid of cable and go with a sling, etc.

The best way to reduce expenses quickly is to look at the big two - home and auto. The key is to have no debt. Most people have more than enough when they do not have debt payments. So the next time you want something, save for it. If you pay off debt, don't get anymore, save! Good luck.

May 2016
    Financial Planning, Real Estate
Given our financial situation, should we rent or buy a house?
67% of people found this answer helpful
September 2016
    Life Insurance
What is the difference between term and universal life insurance?
65% of people found this answer helpful
September 2016
    Annuities
What is the average long term return on an equity index annuity?
60% of people found this answer helpful
September 2016
    ETFs, International / Global
How should a young Canadian professional invest in US ETFs?
60% of people found this answer helpful
September 2016