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Dennis RoubalCFP®

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

Marquette, MI
Fee-only Financial Planner, Financial Growth Concepts

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10 out of 16 people Dennis's answers helpful

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  • 9 out of 12 people found this answer helpful

    I am receiving an inheritance of $ 450,000 to $500,000. How can I make the most of it?

    Retirement Savings, Personal Finance, Investing, Retirement

    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.

    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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  • 1 out of 2 person found this answer helpful

    How do I find the best car loan?

    Personal Finance, Insurance, Auto Insurance

    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



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  • 0 out of 2 people found this answer helpful

    What's the best way to save up for a down payment on a house?

    Mortgages, Personal Finance

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

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    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,



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Contact Info
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Email
denroubal@yahoo.com
Phone
906-249-2041
Address
16 Timber Creek Rd
MarquetteMI 49855
Firm Website
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Firm CRD #125029
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Please visit FINRA's website to review Financial Growth Concepts's records
While designations are not everything when selecting a financial advisor, they often indicate a certain level of knowledge related to a specific field and/or commitment to certain ethical and professional standards. Please see our detailed Guide to Financial Advisor Designations for more information.
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CFP®

*Financial Advisor 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. 


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