Skip to main content

Our Trusted Partners

Browse the logos below to find our vetted, trusted, senior care partners and click their logo to visit their website. Otherwise, click here to schedule a consultation our team can help.

 
 

What is an Elder care Financial Advisor?

Elder care financial advisors provide a wide range of services to help seniors maximize their financial resources and protect their assets. They are specialized in understanding the financial needs of the elderly, with specific knowledge of the laws, regulations and resources available to seniors.

What services does an Elder Care Advisor Provide?

1. Investment planning: Elder care financial advisors can help seniors develop and implement a sound investment strategy that meets their individual goals and objectives. They can help seniors evaluate their current investments, identify potential new investments, and develop a plan to ensure that the investments are managed in a way that will produce the best returns.

2. Retirement planning: Elder care financial advisors can help seniors develop a retirement plan and determine the best way to make their retirement funds last. This may include looking at the different types of retirement accounts, such as 401(k)s and IRAs, and helping seniors decide which is best for their situation. They can also help seniors create a budget and develop strategies to maximize their retirement savings.

3. Tax planning: Elder care financial advisors can help seniors understand the tax implications of their investments and retirement plans, as well as how to maximize deductions and credits. They can also provide advice on how to minimize the impact of taxes on their retirement income.

4. Estate planning: Elder care financial advisors can help seniors create an estate plan that will ensure their assets are distributed according to their wishes. They can help seniors determine the best type of trust or will for their situation and can provide advice on how to minimize estate taxes and protect their assets from creditors.

5. Insurance planning: Elder care financial advisors can help seniors select the best type of insurance for their needs, such as life insurance, long-term care insurance, and health insurance. They can help seniors evaluate the different types of policies available and determine which will provide the best coverage for their situation.

Elder care financial advisors can help seniors make the most of their financial resources and ensure their assets are protected. They can provide invaluable assistance with retirement planning, estate planning, and other financial matters.

What is the costs when using a Financial Advisor?

Financial advisors can be valuable assets when it comes to making smart investment decisions, but it’s important to understand the costs associated with their services before hiring one. The most common cost associated with financial advisors is their fee structure.
  • Flat fees. Same  amount no matter what type of investment or financial advice you need.
  • Hourly rate. The more time they spend working with you, the more money they’ll make.
  • Commission-based. Compensated by earning a percentage of the assets under their management or a commission for every transaction they facilitate on behalf of their clients.
  • “Assets under management.”  Calculated as a percentage of the assets you have invested with the advisor, typically around 1% annually. So, for example, if you have $1 million invested with an advisor who charges 1% per year, you’ll pay $10,000 annually for their services.
Keep in mind that there may be additional costs associated with financial advisors, such as administrative or account maintenance fees. Some advisors may also charge a minimum account balance or require a certain amount of investment before agreeing to work with you.
Remember, a good advisor can help you grow and protect your wealth over time, making the cost well worth it in the long run.
We're Here To Help.
We have carefully vetted these senior care resources so that they can be easily accessed when needed. If you’d like additional assistance, our experienced team of Senior Care Advisors are available to help via our consulting packages.
Schedule a Consultation
Save or share this content:
Want to write articles or advertise with us? Click here for Senior Care Questions partnership opportunities.