Hi all I've got > $1M in investments like stock (self selected) and property (that I live(d) in). Lots of unrealized gains. My tax bill last year was shocking. I also have an accountant that isn't helpful (does the minimum job) and I have no financial advisors or lawyers. Looking for advice and recommendations. Advice on whether you see value in a financial advisor, and if you have recommendations for a tax or financial person. Thanks
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Advisors can help you with a lot of questions about complex situations, but they are expensive and risk averse. Whether you need one is highly personal and situation dependent. Reasons to get an advisor: - You feel off-track for retirement and need someone else to do save/spend projection - You need an outside voice to help slow your (or your spouseโs) spending - Youโre considering financial instruments you donโt understand and want coaching on like rental property or insurance Reasons not to get a financial advisor: - You want to make your own stock picks (or stock picks at all - most will steer you away from such risk) - You are happy with index fund performance - You feel your retirement is in order
Thanks, and as an aside thanks for the only meaningful answer
Waiting for the eventual roast on 'can't reveal my TC' ๐ฟ
Why do you have a shocking tax bill on unrealized gains?
Cant reveal TC? What, are you under investigation somewhere? Or did you mean "won't"
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