By: Bruce Ruotsala, CPA, Senior Staff Accountant
Most individuals think that when it comes to personal wealth, a financial advisor is enough. Although a financial advisor will assist with money management and reaching your financial goals, you should also consult your accountant. In an ever changing tax environment it is important to examine the tax efficiency of your financial plan in light of your entire financial picture.
Here is a list of the top 5 questions you should ask your accountant relating to your personal wealth:
- Have I asked my financial advisor if my investments are properly allocated for my risk tolerance?
- Should I be considering a 529 plan for my child’s college expenses?
- Do I need long-term care insurance?
- When should I start receiving Social Security?
- Does my will need to be updated, or do I need a living trust?
Melanson Heath knows that every financial situation is different, and is here to be your partner and assist in making the right decision for you.