Hourly Projects

My hourly rate is $210 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 $210/hour works out to a price of $1,260 to $1,680.

 

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 $65 per month (vs. $780 for 3 hours of financial planning), 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 $105 - $210 per month. Factors that increase complexity include:

·         Multiple retirement plan accounts

·         Home ownership

·         Rental property

·         Self-employment

·         Student loan debt reduction strategies

·         Integrating spouse's 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.