Hourly Projects
My hourly rate is $270 per hour.
Frequently, I’m approached by couples in their late 50’s to early 60’s, who are looking to confirm whether they’re on track for retirement. This project typically takes 6 to 8 hours to analyze and make recommendations. Typical outcomes are:
- Probability of success with the current plan, and suggestions to improve that probability when needed
- Better understanding of your true risk tolerance regarding your investment portfolio
- Suggestions for modifications to your portfolio to match your risk tolerance
- Optimal Social Security claiming strategy
Six to 8 hours at $270/hour works out to a price of $1,620 to $2,160.
Ongoing Financial Planning
The annual fee for ongoing financial planning is dependent on the amount of complexity of your individual situation.
The beginning fee level is $90 per month (which works out to the equivalent of 4 hours of financial planning, at $1,080), which can be paid monthly or quarterly.
This would be appropriate for someone who is single, has a job with W-2 income (not self- employed), is renting, perhaps planning to buy a home at some point in the future, and has a maximum of 2 investment accounts – the employer’s retirement plan, and an IRA or taxable investment account.
More complex situations are priced accordingly. Prices generally range from $135 – $270 per month. Factors that increase complexity include:
- Multiple retirement plan accounts
- Home ownership
- Rental property
- Self-employment
- Student loan debt reduction strategies
- Integrating spousal income/investments/plans
- Financing college for children
Managing Investment Portfolios
Penn Cove Financial, LLC does not have a minimum amount of assets in order to manage client investments. The fee for managing investments is 0.7% annually of the amount of assets being advised. For a portfolio of $100,000 this would work out to $700 per year, and this is the minimum fee, and includes financial planning as discussed above.
Penn Cove Financial, LLC is a registered investment adviser in the State of Washington. The adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transactions in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.