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If you consult a commission-based advisor, they only get paid if they convince you to put your money under their management. This means they are working for themselves first and you second. The fee-based advisor will want to impress you so that you will consider placing your money with them later.
The fee is negotiable, but could be a few hundred dollars depending on what you agree on. For $500, my advisor provided 4 booklets of information: analysis of net worth, projections of retirement income based on current plans, recommendations for changes to investments, and recommendations on what types of insurance we might want to plan for.
In addition to the topics summarized above, it is very important that couples discuss retirement plans so there are no surprises later on, and so that plans can develop over time and include both partners. Some retirement plans cost more than others and couples will be tied together financially.
Brainstorm together about what you each want from retirement, how you want to spend your time, and how to prepare financially.
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