What does a financial planner do?
As a financial planner, I think of myself as your personal trainer for finances. Just as exercise and eating well improves your health, having a financial plan reduces your stress and allows you to pay attention to those things you care most about in life, whether they be your family, your vocation or your hobbies.
I provide the knowledge you need about all things financial - managing your investments, buying a home, saving for college, determining the right amount of insurance, planning retirement, etc. I can also refer you to my network of experts for more complex topics like estate planning. Perhaps most importantly, I'm an "accountability partner" and help you to stick to your plan. We tackle the various aspects of your financial life over time so they don't seem so overwhelming. You can read more about financial planning here.
What happens at an introductory consultation?
It gives you the opportunity to understand more about how I approach financial planning and investing. More importantly, I get to hear about your financial goals,needs and what's really important to you in your life. We can then assess whether working together is a good fit. The first consultation is always free. You can schedule a "Getting Started" meeting here.
Talking about money feels hard. Is this unusual?
As a financial planner, one of my main goals is to reduce your stress and help you feel comfortable. I've heard from so many people who feel embarrassed about their financial situations.
- "I''m 50 and haven't figured out when I can retire!"
- "I have no idea how I'm going to afford college for my kids"
- "I feel guilty at how much money my husband and I have when so many others are struggling"
I am non-judgemental and completely confidential.
How do you get paid?
Honeycomb Financial is a fee-only financial planning and investment management firm. As a fiduciary, I'm committed to eliminating conflicts of interest wherever possible. 100% of my compensation comes from you, not from banks or partners and not from selling products or taking commissions. I am typically paid monthly and my fees vary depending on the level of complexity of your situation.
What are your fees?
I charge a one-time planning and setup fee of $2000.
For ongoing planning and investment management I charge a monthly fee that is based on your income, assets and the complexity of your situation. This amount varies from $50/month - $3000/month depending on your specific circumstances.
My friends say that the stock market is like gambling. What do you think?
Investing in the stock market makes you a part owner of the companies in which you invest. Though it may be a very small share, you're aligning yourself with some of the most successful companies in the US or the rest of the world. There is risk inherent in any investing decision. Over the long run, stocks have had positive returns in ~3 years out of 4 and have returned in the range of 7-10% per year on average. But in any given year, there is no way to predict performance and stocks can have poor returns for years at a time.
There is also risk in doing nothing. By keeping your money in cash, you don't risk losing money in a market downturn but you do risk losing purchasing power due to inflation.
Investing can be scary. By starting with a plan suited to your situation and risk tolerance you increase your odds of having the money you need to live the life you want.
Where will we meet?
I can work with clients in all locations in the US. This is done virtually via video conference generally, though I will visit clients in other western states from time to time.
If you are located in the SF Bay Area, I'm available to meet in person depending on your preference. Some clients really prefer meeting face to face, others prefer the efficiency of electronic communication and virtual meetings. I'm flexible and will work with your preferences.
How often will we meet?
This can vary widely depending on the complexity of your situation. Expect more meetings initially as I gather data and we lay out a plan together. On an ongoing basis, two meetings per year is typical. I'm always available via phone or email for your questions.
I don’t have very much money saved. Can I still work with you?
If you are younger or just beginning as an investor you may not have significant assets. This makes it tough to work with typical advisors, who generally charge based on your assets. At Honeycomb Financial, we have no asset minimums and will work with you to find an affordable solution for the planning and advice.
How can I get in touch if I have other questions?
Please feel free to reach out to me anytime if you have questions. You can contact me via phone, email or by directly scheduling a meeting here. I look forward to talking with you!