DJH Capital Management, LLC.
Financial Planner | Wealth Advisor
Dominique J. Henderson, Sr. began serving in the financial industry in 1998. He is founder and managing member of DJH Capital Management, LLC. a registered investment advisory firm providing comprehensive financial planning and wealth management to high-net worth individuals and entrepreneurs.
Professionally, Dominique has spent nearly two decades in financial services building a diverse skill set in data analysis, investment research, portfolio management and financial planning. Prior to founding his firm, he spent years in institutional fixed income trading circles where he co-managed a multi-million dollar municipal bond strategy producing annualized returns in excess of 7%.
Dominique uses his expertise to build financial plans and investment portfolios that help his clients find greater financial contentment in their lives. He crafts custom plans to meet the diverse needs of each client in investment, tax, or estate planning. He deeply desires to see people “win” with their hard-earned capital.
Dominique’s financial advice has been featured in such publications as US News & World Report, GoBankingRates.com as well as, as his weekly podcast, Experiencing Financial Contentment. He uses the podcast as a medium to help promote financial literacy, economic empowerment and personal development.
Dominique is also an active member of the National Association of Personal Financial Advisors (NAPFA).
Master of Security Analysis & Portfolio Management, Creighton University
BA, Finance, Prairie View A&M University
Assets Under Management:
The Value of Advice
What do you see as the future of the advisor-client relationship?
What's your perspective on what's important in giving financial advice?
About the e-book...
Congratulations. Although the circumstances under which you are receiving this lump-sum may carry some grief.
1. Sit with a trusted advisor to map out a plan for the money that meets your financial and life goals;
2. Stick with that plan, no matter what. That is not to say you cannot have changes in life or lifestyle, but don't lose the discipline of continuing to invest, save and spend wisely.
3. Remember that someone worked hard, and died for you to receive that. You've been entrusted with a "gift", honor their memory by doing right by them.
One additional point: You may want to hire a CPA for a tax consultation. Depending on how you received the money, you shouldn't have to pay that large a tax bill. I have limited details, so I cannot say that definitively.
If you need any guidance or assistance, feel free to reach out.
I hope that helps!
All 401(k) contributions you make act as dollar for dollar reductions to your taxable income, thereby lowering your tax rate. Any extra after you reach the contribution limit should go to Roth contributions for the tax free advantages.
Of course you have recourse! You are the client, you always have recourse.
Unfortunately there are a lot of advisors that do this to investors by processing the trades as "principal" (e.g. commission) versus "agency" (fee-only) trades. 2-4% is a normal mark-up, but 10% is definitely out of bounds and probably something her broker-dealer needs to be notified about. In an audit, they would get flagged for this type of transaction since it is far outside the median charge. I'm familiar enough with bond markups that I could look at your the data from the trade reporting database (emma.msrb.org) to tell exactly what you paid. Nonetheless, you should have a conversation with your advisor about this and get a refund of the majority of that commission.
I hope that helps!
I agree with the previous response from Will. I'll just add that if there are no employees and you plan to keep it that way, the solo 401(k) allows for a higher amount of contributions to be made because you can make them as an employee and the employer. From a planning standpoint, this is advantageous for maximizing the tax deferral and minimizing taxes (with the deductions).
I hope this helps!
As a self-employed individual, health care premiums are counted as business expenses. These expenses are deducted on Schedule C of your tax return. To prevent double-dipping though, you should only be able to deduct the net expenses (e.g. after the credit has been applied).
I hope that helps.