Dennis Roubal

Dennis Roubal CFP®

About Dennis

“Fee-only financial planning. No Sales- No Commissions, Just Practical Investment Advice. ”

Certifications

Designations

Registrations

Firm CRD #125029

Certified Financial Planner (CFP) is a designation issued by the Certified Financial Planner Board of Standards

Educational/Exam Requirements:

  • Completion of CFP-board registered study program, or alternative degree or certification, demonstrating mastery of over 100 topics surrounding financial planning
  • Pass 10 hour exam testing knowledge in financial planning situations

Prerequisites/Experience Requirements:

  • A bachelor’s degree (or higher) from an accredited college or university, and
  • Three years of full-time personal financial planning experience

Public Disciplinary Process? Yes

Continuing Education Requirements: 30 hours every two years

*Disclaimer:

I am a fee-only financial planner and a Registered Investment Advisor.  I provide advice that is solely in the interest of my clients.  My services are defined in contractual agreement along with a comprehensive financial plan.  Therefore any information provided in an online forum should be considered general information and not specific investment or financial planing advice. 



Typical Clients

How I Can Help

Fee Structure

Asset-based Fee-only Commissions Hourly Other Contingency
Learn more about how advisors are paid in our Guide to Advisor Compensation.

Contact:

Phone: (906) 451-5142 Address: 16 Timber Creek Rd
Marquette, MI 49855
denroubal@yahoo.com

Dennis has answered 3 questions

Results per page:
Sort By:
Dennis Roubal
Answer added by Dennis Roubal | 8573 views
12 out of 17 found this helpful

You did not state you age which would likely influence the advice you receive.  If you are past

more »

You did not state you age which would likely influence the advice you receive.  If you are past 60 you could consider purchasing an annuity with a portion of the money to provide lifetime income. Look for a non-commission product, as many annuities have very high commissions.

The advice to find out if a special needs trust is appropriate is a very good idea.

It seems you will need to derive lifetime income from this bequest.  I think that the best way to do that is through a portfolio of dividend stocks, real estate investment trusts (REITs), and Master Limited Partnerships (MLPs)  These can all be purchased through a discount broker.  There are also some Exchange Traded Funds (ETFs) that hold portfolios of these.

I am not very keen on bonds now that the Fed has forced interest rates down.  They may not be able to do that forever and a significant rate increase would lower bond prices substantially.  Shorter term bonds aren't affected as much, but they also don't pay much income. 

There are many companies that have paid significant and growing dividends for decades.  I would look to own some of those companies.  The younger you are, the more significant their income and growth capabilities will be to maintain your purchasing power. 

Interview some Fee-only planners. Select one that you feel comfortable with.  Keep an eye on the costs of your investments and the advice.  Expenses matter a lot in what will likely be a prolonged slow economy.

Dennis Roubal
Answer added by Dennis Roubal | 141 views
1 out of 2 found this helpful

I would start by looking at rates online.  Start with your own bank.  Also look at local Credit

more »

I would start by looking at rates online.  Start with your own bank.  Also look at local Credit Unions, since they provide very competitive rates.  All institutions are happy to loan to someone who makes a large down payment.  It means the borrower is more likely to repay the loan. 

Then speak with a loan officer at the places that look best.  They may offer something special to you for being an attractive loan risk.

Best of Luck

Dennis Roubal
Answer added by Dennis Roubal | 860 views
1 out of 3 found this helpful

I would start by deciding how much you will pay for your next house and what 10-20% of that amount would

more »

I would start by deciding how much you will pay for your next house and what 10-20% of that amount would be. 20% or more down should get you the best rate. 

Determine, based on  your cash flow, how long that will take you to accumulate. Likely 3 to 5 years.

Set up an auto withdrawal to have that money set aside.  It has to be something safe like a money market or Certificate of Deposit.  You could ladder the CDs taking one out each year with a shorter maturity.  

To be on top of your finances and be really prepared for you mortgage application, start tracking your Net Worth and Cash Flow. 

You will likely be able to save more if you track where your money is going.  This will likely get you to your goal faster.

Also, you will be a more attractive applicant when you demonstrate this financial knowledge maturity to your future loan officer.

Good luck in your endeavors,

Filters

Results per page:
×

Let's get started.
It's free!

or

Already have an account?

Add Video

Upload

Add Video

100%

Please wait while your file is being uploaded.

Add Video

How to Save for a Mortgage

Video Uploaded

Add Another I'm Done

Preview Video

×