Finding an advisor means looking beyond the word “fiduciary.” Don and Tom explore what it takes to find someone who puts your interests first all the time, why experience and a team matter, and what an ongoing fee should buy beyond portfolio management. They also discuss the challenge of handing over the financial reins—and making sure your spouse has someone to call.
Listener questions tackle adding bonds before a career change, the tax tradeoffs of bonds in a brokerage account, why retirement accounts are not an emergency fund, and how to evaluate Roth conversions when spouses have different retirement timelines.
01:04 Finding a fiduciary who always puts you first 02:08 Why a do-it-yourself investor hired an advisor 05:03 Minimums, experience, and a backup team 07:47 Financial planning beyond the portfolio 09:14 What advisory fees should buy 14:12 Letting go of the financial reins 17:10 Keeping personal biases out of investment decisions 19:44 Adding bonds before a career change 22:47 Bond interest and taxable accounts 26:13 Emergency savings belong outside retirement accounts 29:31 Roth conversions and two retirement timelines 35:17 Disclosures
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