Frequently Asked Financial Questions

Straightforward answers to some of the questions I hear most often about investing, retirement, 401(k)s, Social Security, and working with a financial advisor.

How do I find a good financial advisor in Greenville, SC? 

A good financial advisor should understand what you’re trying to accomplish, explain things in a way that makes sense, and be someone you’re comfortable calling when life changes. I think the relationship matters just as much as the investments.

I work with clients throughout the Greenville area on investing, retirement, rollovers, income planning, and most other financial decisions. The first conversation is really about figuring out whether we’re a good fit.

How much does a financial advisor cost?

Financial advisors can be paid in several different ways, including an ongoing percentage of the assets they manage, commissions on certain products, or planning fees. What you pay should be clearly explained before you agree to anything.

In my practice, the cost depends on the type of account and the work we’re doing. I want clients to understand what they’re paying, what they’re getting for it, and why I believe the relationship makes sense.

Should I roll my old 401(k) into an IRA?

Maybe. Rolling a 401(k) into an IRA can give you more investment choices and make your accounts easier to manage, but it isn’t automatically the right answer for everyone.

I help clients compare the old plan with their other options, including fees, investments, access to the money, taxes, and creditor protections. If a rollover makes sense, I can also help handle the process so you’re not trying to figure out all the paperwork yourself.

I’m getting close to retirement. How do I know if I have enough money to retire?

The real question isn’t just how much you have saved. It’s whether your savings, Social Security, pensions, and other income can support the life you want without putting too much pressure on your portfolio.

I help clients look at what they spend, when they want to retire, how their money is invested, and what could go wrong along the way. Then we can make adjustments before retirement instead of finding out afterward that something doesn’t work.

What’s the best way to invest a $1 million retirement portfolio?

There isn’t one perfect way to invest $1 million because the right portfolio depends on when you need the money, how much income you need, and how comfortable you are with market swings. The goal is to build something around your life rather than force your life around an investment model.

I generally want a portfolio diversified across different types of investments and actively reviewed as markets and your circumstances change. Retirement money still needs to grow, but it also has to support you.

When should I start taking Social Security, and how does it fit with my other retirement income?

The best time to start Social Security depends on much more than just your age. Your health, other income, retirement accounts, spouse’s benefits, taxes, and how long you expect your money to last all matter.

I look at Social Security as one part of the overall retirement-income plan. Sometimes waiting makes sense, and sometimes it doesn’t. The important thing is making the decision alongside your investment and withdrawal strategy instead of treating Social Security separately.

How can I lower the taxes I’ll pay when I start withdrawing money from my IRA or 401(k)?

A little planning before you start taking withdrawals can make a big difference in how tax-efficiently you use your retirement money. The order you take money from different accounts can matter just as much as the investments themselves.

I help clients think through IRA withdrawals, Roth conversions, required distributions, Social Security, and taxable investment accounts together. I’ll also work with your CPA when appropriate because investment decisions and tax decisions often affect each other.

Can a financial advisor help me with more than just investing my money?

Absolutely. Managing investments is a major part of what I do, but clients call me about almost anything in their lives that has a dollar sign attached to it.

That can mean retirement, Social Security, 401(k)s, inherited accounts, debt, college costs, insurance, estate questions, major purchases, or figuring out what to do after a job change. I may not personally provide every service, but I can usually help you understand the options and get you pointed in the right direction.

My spouse died and I’m overwhelmed with the financial stuff. Who can help me figure out what to do?

A financial advisor can help you sort through the accounts, paperwork, beneficiary decisions, investment questions, and other financial issues that come after losing a spouse. You do not have to figure everything out at once.

I try to help clients slow the financial process down and deal with the important things in the right order. When attorneys, CPAs, insurance companies, or retirement-plan providers need to be involved, I can also help coordinate the pieces and explain what’s happening along the way.

Will a financial advisor work with me if I don’t have a lot of money to invest?

Some advisors have minimum account sizes, so it’s always worth asking. I work with a wide range of people, and I don’t believe someone has to already be wealthy before they deserve good financial guidance.

I manage significant portfolios for many clients, but I also help people who are just getting started or who were referred to me with a specific financial question. If I can reasonably help someone, I’d rather have the conversation than turn them away just because of an account balance.