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The Eliot Rose Blog

Jason’s Notes

Top 5 Questions to Ask A Financial Advisor in 2021

We meet with three to five prospects each week looking to hire a financial advisor. Many have done a lot of research to prepare for
the meeting. However, the financial services industry is so confusing that we thought this post needed to be published.

Our goal in this blog post is to help you ask questions…questions where the answers cannot be manipulated!

Jason’s Notes

Best Financial Planners in Rhode Island (2021 Update)

At Eliot Rose, we specialize in helping clients who are transitioning into or living in “retirement.” Retirement is intentionally in quotes because it means so many different things to different people.

However, there are many other niches where we don’t have the right expertise. As Chairman and Past President of the Financial Planning Association (FPA) of Rhode Island, I have come to know many advisors who I deeply respect. This post aims to showcase those advisors that do a great job in their area of specialty.

Jason’s Notes

Is Planning for Retirement Really That Different?

If you are reading this, you probably already know that we specialize in helping our clients transition into and live in retirement. But is the advice we provide really that different from a generalist advisor? We think so!

When you retire, a fundamental shift happens – you go from accumulating assets to distributing assets. This shift changes the entire planning framework and resulting recommendations.

Jason’s Notes

How Much Should You Gift?

It is always a good time to review your estate plan, but now is an especially good time since we are (1) living in a global pandemic and (2) under a new administration. We know this topic is one that is quickly pushed to the back burner because people do not like to talk about their own mortality and these scary “what-if” scenarios.

However, we encourage everyone to periodically review their estate plan because tax law significantly changes over time. And because the tax law changes, your estate plan will require changes, as well.

Jason’s Notes

How to Handle the Next Recession

It is November 2020 and we can finally see some light at the end of this dark COVID-19 tunnel. While infections are still making new highs, vaccines are not too far away, and we can soon put this year behind us. Amazingly, in a year that saw record unemployment and the largest public health crisis since 1918, the market is actually up year-to-date.

The big question now, of course, is whether this rally will continue or if we will retest market lows. While no one has a crystal ball, good financial planning prepares for these “what-if” scenarios and illustrates how to respond to them accordingly.

Jason’s Notes

4 Ways Financial Planners Help

Growing up, the only thing I knew about financial advisors was simply that my father was one. I knew that he served his clients well and greatly cared for the people he helped.

Thirty years later, I think the industry has struggled to communicate what advisors do. Therefore, I thought it would be helpful to share four ways advisors provide value to their clients.

Jason’s Notes

Turning 65? Don’t Make These Medicare Mistakes

Turning 65? You are not alone…about 10,000 Americans are turning 65 everyday between now and 2030. In addition to celebrating this important milestone, I would encourage you to start (if you haven’t already) thinking about Medicare.

This is very important because if you miss key deadlines, you may face gaps in coverage and financial penalties that last your entire life.

Jason’s Notes

Are You Gambling Unintentionally?

Most of you would never put yourself in a position where you could potentially lose $50,000 at a casino.

However, according to a national study, 41% of Americans do not carry any form of life insurance. If those individuals were to die before retirement, far more than $50,000 is at stake. For every year thereafter, there is a lost year of income for their family and loved ones.

Jason’s Notes

Find Out If You Are Ready to Retire

If you are like most people, when you hear the word retirement you may immediately conjure up thoughts of never-ending vacations, warm weather, complete freedom and flexibility, and delicious food (maybe the last one is just me).

The reality is that retirement is not a vacation – it is your next chapter, which could span 2 + decades.

Jason’s Notes

How We Helped Andy and Sarah Prepare for Retirement

I am sharing this short story because I think the term “financial planning” is very abstract and doesn’t capture what you actually receive from working with a financial planner.

Hopefully, this example will shed light on the type of work financial planners actually do. This story is a hypothetical because all of our client conversations are confidential.

Jason’s Notes

Fee-Only vs. Fee-Based Advisors

A fee-only financial planner is compensated only by the fees he or she charges directly to clients and not by commissions earned from a sale of a financial product. An advisor compensated only by fees is called fee-only.

A fee-based or “fee and commission” advisor is generally compensated by both fees for advice and commissions on the sale of financial.

Jason’s Notes

COVID-19 Update

As we all adjust to the uncertain and rapidly changing impact of COVID-19, we want you to know that we have shifted all operations to Work From Home (WFH). This shift is made out of an abundance of caution for our clients and our families.

Jason’s Notes

4 Tips When Choosing a College

Choosing a college can be stressful and exhausting, but that doesn’t mean you should leave your heard-earned money behind. Check out our useful tips on how to get a good education while keeping more money in your pocket.

Take a look at our 4 useful tips and avoid these common mistakes!

Hot Topics

The Larger Issue in the College Scandal

The recent indictment alleges crazy stunts — like having a stand-in take a college entrance exam, large bribes to coaches and faculty, and even photo-doctoring to paste a student’s head onto the body of an athlete!

Hot Topics

NYC Chases Amazon Out!

​Amazon chose Valentine’s Day to cancel plans for a second HQ in New York City!

Hot Topics

What is Financial Planning Day?

I am proud to have organized Rhode Island’s first pro-bono financial planning day.