FAQ
- What does FIRE mean?
FIRE stands for Financial Independence, Retire Early. It's a community and a lifestyle where people aim to save and invest enough money so they can retire way earlier than the traditional retirement age.
- What does it mean to be a Fee-only financial planner?
A Fee-only financial planner is like a money coach. Unlike other financial advisors who might earn commissions by selling you certain financial products, fee-only advisors charge you a straightforward fee for their advice. No hidden agendas, no secret handshakes with big corporations – just you and your financial coach working together. Biggest benefit is objective advice since the advice isn’t swayed by outside financial incentives.
- Are you a fiduciary?
Yes
- Are your financial planners certified or accredited?
Absolutely. Our financial planners hold at least a bachelor's degree and have achieved and consistently uphold the esteemed CERTIFIED FINANCIAL PLANNER™ designation. This prestigious qualification demands a minimum of 30 hours of continuing education every two years, ensuring our team stays at the forefront of industry knowledge and best practices to better serve your financial needs.
- How do you get paid?
We're compensated exclusively by our clients, with payment options of a monthly flat fee or a quarterly assets under management fee.
- Do you have to manage my investments?
Not at all. For financial planning clients, we offer education and recommend portfolios aligned with our investment philosophy. The choice is yours – whether you prefer a hands-on DIY approach or would rather entrust us with managing your investments, we've got you covered. Our goal is to empower you with the knowledge and options that suit your financial preferences.
- Why focus on physicians and high-income earners?
We recognize the unique challenges and opportunities physicians and high-income earners face. Our expertise allows us to address the specific financial intricacies associated with medical professionals and those in high-income positions, ensuring our clients receive personalized and effective guidance that aligns with their distinct financial goals. By concentrating on this niche, we can deliver a more focused and specialized service that caters to the specific needs and aspirations of our clients in these professions.
- What is the typical timeframe for developing a financial plan?
The initial foundation financial plan is typically delivered within 4 to 6 months, taking into account the client's schedule. For more details, check out the Typical Year One Agenda.
- What happens if my financial situation changes during the engagement?
Great question! Financial planning is a dynamic process, designed to adapt to life's twists and turns. We understand that life is full of changes, and we don't expect your financial plan to be any different. Rest assured, we're here to pivot and adjust your plan as needed, ensuring it remains a tailored fit for your evolving circumstances.
- Do you prepare tax returns?
No. While we have a strong understanding of tax strategies, we’re not tax experts. That’s why we encourage clients to collaborate with a dedicated tax professional—like our sister firm, Focused Tax Partners, LLC—for expert tax planning and preparation.