HFH Planning Inc.
Hank Hanau CFP®, Financial Strategist, owned and operated a multi-million dollar business from 1964 through 1979 before selling it and joining the investment firm of Bache Halsey Stuart Shields (now Wells Fargo Securities) and becoming a Vice President of Investments.
Hank created HFH Planning for two reasons: Firstly, the commission based structure of major brokerage firms does not favor the middle-income individual who is most in need of a financial plan. Secondly, due to the same fee structure, major brokerage firms, generally, may only suggest financial products for which they receive a commission – that is not always the best product for the client.
HFH is one of the few firms to use clients' income and net worth to determine an appropriate fee for ongoing advice and direction. The advice Hank and his team provide is based solely on our expertise — not on any commissions or hidden fees they might earn by recommending a particular product. Using income and net worth is truly objective, fair, transparent and aligned with clients' goals at all times. It also makes Hank and his team's services accessible to clients of any and all income levels. As Certified Financial Planner™ professionals, they are required to always put the interest of their clients before those of their firm. And they wouldn’t do business any other way.
BS, Management, Indiana University Bloomington
Use a financial advisor such as my firm, HFH Planning Inc., that does not charge commissions, and works on an hourly rate or a retainer fee. We choose mutual funds based on their performance and one of our criteria is the fee the fund charges. Of course, if you want to trade stocks, look for a broker that has very low trading fees. There are a number of them.
The answer is simple, the cost. Investments have two aspects, the growth of the investment (such as an investment in the S&P 500) and the cost of the investment which reduces the growth. Think of the investment vehicle as a boat proceeding through a channel. If the boat's engine is able to drive the boat forward at 5 miles per hour in a vacuum, it will, in 1 hour, go 5 miles. However, if there is a 2 mile an hour headwind, the boat will only go 3 miles. When talking about investments, the cost of the mutual fund or annuity is the headwind. You should generally look for vehicles that cost the least.
Investing in a diverse mutual fund through a 529 Plan by a company such as Vanguard should keep up with inflation. I can think of no other relatively safe way of investing for college. Contribute what you can whenever you can and the odds are the tuition will be, at worst, not a burden.
Why not roll the funds to an IRA account and take distributions as they are needed. You will then be paying taxes only on the funds you withdraw and that rate will be mitigated by the medical expense deduction when you file the tax return.
They don't. There is no known predictor of any market. What you should do is find an advisor who will assist you in creating a diversified portfolio based on various factors such as age, available assets, and spending needs.