The tour is being sponsored by the NAPFA Consumer Education Foundation, TD AMERITRADE, and Kiplinger’s Personal Finance magazine. The bus will tour the country during the next year, beginning on October 1, 2009 and will be visiting major city centers to promote the message of saving and financial literacy. At the various stops Fee-Only, fiduciary financial advisors will be on hand to deliver free financial guidance - no strings attached!
Mike Helveston, a NAPFA Registered Advisor, manned the bus today in Harrisburg, PA.He was joined by several other advisors from Rodgers & Associates of Lancaster, PA.
A lady wanted to know how to open an IRA. She has a few thousand dollars to invest but the last time she open a mutual fund IRA she put it all in an international fund which is now about half of what she invested. Mr. Helveston recommended opening an IRA with a low cost provider such as Vanguard or Fidelity and selecting a Target Retirement Fund or a balanced fund for diversification.
A gentleman approached Lee Pelko of Rodgers & Associates about what he should do with his investments.He had his TIAA-CREF and Ameriprise statements with him.Ms. Pelko helped him to figure out his asset allocation between stocks and bonds and also gave him some tax advice on realizing losses in 2008 due to the down year in the stock market.
Rick Rodgers, president of Rodgers & Associates was approached with questions about how to shelter his new income from a gas royalty.The man was concerned because this will probably only last for 1 year.Rick discussed making retirement contributions or a charitable contribution for a tax deduction to offset this gas income.
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