Jacob Melamed

Comments:

• I routinely book our vacation car rentals through Costco's travel service. Costco consistently offers the best price on car rentals. The cost of my Executive membership is easily covered by the money saved on car rentals.

  Post: Best/worst deals at Costco

  Link to comment from July 20, 2024

• Yes - because of circumstances we all are likely to face. Simply put, as one ages, the risk of cognitive decline increases. For many of us, our ability to manage our financial lives will become more difficult and burdensome. As we enter our 70s and if we make it to 8o and beyond, cognitive decline becomes a real issue. Establishing a relationship with a well-vetted financial advisor is facing this risk directly. The 1% fee is actually a form of insurance. Having a “second set of eyes”on one’s financial life can prevent costly if not disastrous mistakes. In the event that you are incapacitated or die, a financial advisor can step in and help your spouse or partner manage their financial affairs. For the readers of this blog, who are actively engaged in managing their investments and financial matters, the optimal time to hire a financial advisor is likely when one is in one’s early 70s, before there is a crisis and there is time to establish a solid relationship with the advisor.

  Post: Is a good financial advisor worth 1% of assets per year?

  Link to comment from July 29, 2023