David Rae

CFP®, AIF®
Personal Finance, Retirement, Lifestage Based Planning
99%
Helpful
305
Answers
16
Articles
394
Followers
“David Rae, Wealth Manager and Fiduciary Financial Planner, is committed to using his knowledge of financial planning and investing towards making dollars and sense for people across America for over a decade.”
Firm:

DRM Wealth Management, LLC

Job Title:

President Founder - Financial Planner

Biography:

David Rae is the independent LA CFP®, AIF® to Lead Your Financial Team.  We believe everyone can retire earlier and with more money than they ever thought possible.

David Rae, Certified Financial Planner®, Accredited Investment Fiduciary® and Wealth Manager positions his clients for prosperity.

Name one of the "100 Most Influential Financial Advisors" by Investopedia. 

“Once you get your financial house in order,” he says, “It’s a lot easier for everything else­–personal life, professional life, family life and recreational life–to fall into place too.”  

Working with a wide diversity of clients for well over a decade, he has built a successful career developing comprehensive financial plans to meet life goals, retirement, tax planning, estate issues, portfolio revision, life insurance, portfolio management, business exit strategies and more. While based in Los Angeles, he serves clients across the country. At the same time, he enjoys a solid reputation as a smart, go-to financial guy for both mainstream and LGBT print, broadcast and online media.

Early days

David grew up Irvine, California. His father Mike Rae retired from a career as an NFL quarterback (USC, Raiders, Redskins, Buccaneers) while he was still in elementary school. This gave him a front row seat to retirement planning and money manners early on. His mother, Terri, was something of a financial genius who ran a tight ship, planned carefully, got the most bang for the buck and successfully avoided the financial traps that often snare former athletes and their families.

At the University of Redlands, David majored in Business and Musical Theatre, earning full-ride scholarships in both disciplines. A year studying abroad in Vienna, Austria – in addition to consistent and considerable amounts of world travel that he keeps up to this day – engendered a dimensional world view about peoples and cultures.

Life in finance

Financial planning has proven an excellent fit for fully engages David’s considerable math, social and communication skills. He began in 2003 as a Financial Advisor and hit the ground running. After completing the CFP’s rigorous two-year preparation program, in 2006 he passed the two-day CFP exam (the financial industry’s equivalent of the bar exam) with flying colors, earning him his professional certification. He achieved his Accredited Investment Fiduciary certification in 2015.  He became President of DRM Wealth Management in 2017.  This independent RIA specializes in helping the friends on the LGBT community reach their financial goals.

In addition to building his own business, David has always been active in helping others build their businesses as well. In 2004, he founded the Beverly Hills Breakfast Club chapter of BNI, an international networking group, which has grown today into the largest and wealthiest chapter in Southern California.  He was also named an "Adviser with Heart" by Wealth Management Magazine.

“There’s a significant lack of financial literacy in the general population,” David reports, “Even among those who are very bright. This may be related to being phobic about math since so much about money is really about math too. My function is to translate what may seem to be overwhelming and confusing concepts and programs into something clear, understandable and attainable. Essentially it’s pretty simple. You have a dream or life goal? Great, let’s sit down together, plan a workable strategy on how to finance it and make it a reality.”

Media matters

David Rae is the go to Financial Expert for the media. He has been seen, quoted and published in many national publications including  Nightline, ABC News, CBS News, Fox News, NBC News,  KTLA News, KCAL 9 News, Time Magazine, MSN Money, Men’s Health, NBC News, The Today Show, US News & World Report, Yahoo News and 401(K) Specialist Magazine  and many more. He blogs weekly on financial issues for The Huffington Post where he is noted for his trenchant observations and spot-on wit. He is also a regular contributor to The Advocate Magazine and Investopedia blogs. Recently, David was interviewed by Nightline. He also has his own personal finance blog Financial Planner LA

Personal life

David has completed the 545 mile Aids Lifecycle bicycle ride from San Francisco to Los Angeles for seven years in a row becoming not only a top fundraiser personally but heading a team that raised over a million dollars for the organization. A longtime and enthusiastic resident of West Hollywood, he lives with his husband Ryne Meadors and their two chihuahuas.

More info at www.davidraefp.com

or the top rated www.FinancialPlannerLA.com blog.

 

 

Education:

BA, Business Adminstration, University of Redlands

Assets Under Management:

$38 million

Fee Structure:

Fee-Based
Fee-Only

CRD Number:

4630789

Insurance License:

#OE10562

Disclaimer:

All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security investment or instrument or to participate in any particular trading strategy.

Securities and investment advisory services offered through DRM Wealth Management LLC Registered Investment Adviser.  DRM Wealth Management LLC, Trilogy Capital, TD Ameritrade, SEI and Investopedia are separate and unrelated companies.  www.financialplannerla.com

Videos
  • Fiduciary Rule and Dodd Frank Video From ABC 7 News
  • Record Powerball Lottery What to do if you Win - VIDEO
  • Tax Reform and your Wallet NBC News with David Rae
  • How to get a Friend to Pay You Back KTLA Video
All Articles
Sort By:
Most Helpful
3 days ago
    401(k), IRAs, Retirement, Retirement Plans, Retirement Savings, Small Business
April 2017
    Lifestage Based Planning, Pensions, Retirement, Retirement Plans, Small Business
August 2017
    Investing, Personal Finance
September 2016
    Financial Planning
August 2016
    Financial Planning, Retirement Savings, Taxes

All Answers
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Most Helpful
    Career / Compensation, Financial Planning, Estate Planning
If all of my income is in a deferred compensation plan, will I still be able to make itemized deductions?
100% of people found this answer helpful

In general I love the idea of maxing out your 457 plan to minimize you tax bill.  Where you lose me is the benefit to maxing it out if you are putting your entire income and losing your other itemized deductions. Technically your itemized deductions will be deductible but THEY WON'T LOWER YOUR TAX BILL. So it is like you are losing them.

If you have roughly $11,000 in itemized deductions it may make more sense to put say $46,000 into the 457plan to pay no income taxes this year and next.  This is assuming you don't need the money before retirement.

Make sure you are working with trusted fee-only fiduciary financial planner to help guide you to financial freedom.

 

 

Live for Today, Plan for Tomorrow.

 

DAVID RAE, CFP®, AIF® is a Los Angeles-based  financial planner with DRM Wealth Management, a regular contributor to Advocate MagazineHuffington PostInvestopedia not to mention numerous TV appearances.  He helps smart people across the USA get on track for their financial goals.  For more information visit his website at www.davidraefp.com or the Fiduciary Financial Planner LA blog.

August 2017
    Career / Compensation, Military / Veterans
How should I work towards owning an RIA firm?
100% of people found this answer helpful
September 2017
    401(k), IRAs, Small Business
Is setting up an independent 401(k) plan always better than an IRA for a small business?
100% of people found this answer helpful
August 2017
    Estate Planning, Annuities, IRAs
Should I be listing my brokerage firm as a primary beneficiary?
100% of people found this answer helpful
July 2017
    Taxes, Life Insurance
If I surrender this life insurance policy and take the $40,000, are there any tax consequences?
100% of people found this answer helpful
August 2017