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Richard FrazierCFP®

I am a fee-only financial advisor working in Wilmington, NC. I work with individuals regarding comprehensive planning.

Wilmington, NC
Financial Planner, Frazier Financial Consultants
Fee Structure: Fee-only

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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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8 out of 13 people Richard's answers helpful

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  • 2 out of 2 people found this answer helpful

    What should I be looking at to figure out if I'm withholding the right amount on my paycheck?

    Personal Finance, Taxes

    Usually if you are in the same job as last year and your income is consistent from last year to this,

    more »

    Usually if you are in the same job as last year and your income is consistent from last year to this, you can look at last years tax return.  If you received a refund then you are withholding enough. If you had to pay out a significant amount last year in April, then you may want to withhold more.

    If you started a new job this year with a different income level for you, then you can go to your human resources at work.  They will provide you with a worksheet that will calculate how much federal and state taxes you should withhold based on your current situation (married, dependants, home owner, etc).  

    I would also suggest if possible to save some money for April just in case you owe.  If this is the first year in a job it's always a bit of an estimate as to whether you are withholding enough. Next year will be easier!

    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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  • 2 out of 2 people found this answer helpful

    What is the best tax preparation software?

    Tax Deductions and Credits, Personal Finance, Taxes

    I find that using Turbo tax is very easy.  If you are not familiar with tax returns they make it

    more »

    I find that using Turbo tax is very easy.  If you are not familiar with tax returns they make it easy by walking you through an interview process.  You fill out your tax return by answering questions and they do the rest.  It's a little pricey, maybe $90, so you may want to explore going to HR block and seeing how much they charge.  As a student your taxes should be very simple so they may not charge much.

    If you go the Turbo Tax route, or another software, stick with it from year to year. Everything gets transferred from last years taxes and makes every year after the first less work.

    Good luck!

    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 1 person found this answer helpful

    I may loose my Dad to his terminal illness soon, and I have a few questions about what to expect.

    Personal Finance, Estate planning, Retirement

    Im very sorry to hear that.  That is a tough thing to have to face.  As far as lowering death

    more »

    Im very sorry to hear that.  That is a tough thing to have to face.  As far as lowering death taxes there will not be any estate tax associated as you are able to pass over $5 million dollars estate tax free at death.  There may be some inheritance taxes depending on your state of residence.  

    My advice is to start getting financial information together.  Account statements, valuing assets he owns that could be valuable, debts etc.  This will all help to reduce the stressful time of settling his estate.  An estate attorney is very helpful during this time also. 

    Beyond that I would just spend as much time as you can with him.  Getting prepared is a great thing but spending the last moments with him will be most important.

    Good luck.

    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 1 person found this answer helpful

    Are there any tax breaks expiring this year that I should take advantage of?

    Tax Deductions and Credits, Personal Finance, Taxes

    The only tax break that I can think of has to do with charity contributions from your IRA.  You

    more »

    The only tax break that I can think of has to do with charity contributions from your IRA.  You can make contributions from your IRA to qualifying charities and this will satisfy your required minimum distributions (for people over 70.5 years of age).  You do not pay income taxes on this amount.  

    This is set to expire at the end of the year but may get renewed going forward.  I do not know if this helps but this is the only one I can think of off the top of my head!

    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 1 person found this answer helpful

    Hello I am a 24 y/o single male with close to $70K in savings, I have excellent credit and no debt whatsoever, However, I make a $40K a year and still live at home. What options do I have for the following: 1. Moving Out - Is renting w/ a roommate my only realistic option here? (NYC) 2. Investment Opportunities - No 401K from my employer. What gigs are there that exploit compound interest? Thank you in advance for your advice. Sean

    Personal Finance, Investing

    Hi Sean, In terms of finding another place to live, my initial reaction on buying is that it may be tough

    more »

    Hi Sean,

    In terms of finding another place to live, my initial reaction on buying is that it may be tough for you to qualify for a mortgage on your income as NYC prices tend to be very high.  On the other hand you have a great savings account built up which could be used as a down payment.  I would talk to a mortgage broker and see what you might qualify for and then take it from there.

    I would advise you to open a Roth IRA and contribute there.  You do not get a tax deduction for the contribution, but when you withdraw from this in retirement it comes out tax free.  However if you owe a lot come April in taxes it may be wise to open up a traditional IRA instead so you get the tax deduction for your contribution. You can open either through Vanguard.  They have great mutual funds that are very low cost.

    If it turns out that you qualify and can buy a property, I would make sure that you do not exhaust your savings account on a down payment and IRA contribution.  Make sure to keep a chunk of this in cash for emergencies (at least $10k).

    Hope this helps, and good luck! 

    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

    I'm 39 and have never invested in a 401K. I've been toying with the idea of maxing out my contribution to play catch up. Is this a good use of my money? Or are there better options?

    Retirement Savings, Investing, Retirement, 401(k)

    This is a tough question as each persons situation is different.  I would say that if you can afford

    more »

    This is a tough question as each persons situation is different.  I would say that if you can afford to do so, maxing out your 401k is a great idea.  As long as this does not effect your cash flow and you can live comfortably off of the net amount that will come to you each month without going in to debt.

    If maxing out would reduce your cash flow too much, than at least try and contribute as much as necessary to receive the full employer match.  

    Contributing to a retirement plan such as a 401k has many benefits.  1) Your contributions go to this plan pretax, so you are not taxed on this income that is contributed. 2)  This helps to build your nest egg for retirement. 3).  You may get "free" money if you are employer offers a match.

    All in all, I recommend contributing as much as you can without hurting cash flow.  There are more things to consider but this is a simple blanket answer.

    Good luck!

    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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  • 0 out of 0 people found this answer helpful

    Hello I am a 24 y/o single male with close to $70K in savings, I have excellent credit and no debt whatsoever, However, I make a $40K a year and still live at home. What options do I have for the following: 1. Moving Out - Is renting w/ a roommate my only realistic option here? (NYC) 2. Investment Opportunities - No 401K from my employer. What gigs are there that exploit compound interest? Thank you in advance for your advice. Sean

    Personal Finance, Investing

    Hi Sean, In terms of finding another place to live, my initial reaction on buying is that it may be tough

    more »

    Hi Sean,

    In terms of finding another place to live, my initial reaction on buying is that it may be tough for you to qualify for a mortgage on your income as NYC prices tend to be very high.  On the other hand you have a great savings account built up which could be used as a down payment.  I would talk to a mortgage broker and see what you might qualify for and then take it from there.

    I would advise you to open a Roth IRA and contribute there.  You do not get a tax deduction for the contribution, but when you withdraw from this in retirement it comes out tax free.  However if you owe a lot come April in taxes it may be wise to open up a traditional IRA instead so you get the tax deduction for your contribution. You can open either through Vanguard.  They have great mutual funds that are very low cost.

    If it turns out that you qualify and can buy a property, I would make sure that you do not exhaust your savings account on a down payment and IRA contribution.  Make sure to keep a chunk of this in cash for emergencies (at least $10k).

    Hope this helps, and good luck! 

    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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    • 27 views
  • 0 out of 4 people found this answer helpful

    If your car is financed through a dealer do you have to have full coverage insurance?

    Insurance, Auto Insurance

    I would imagine so.  How you finance your vehicle should not effect what type of insurance you are

    more »

    I would imagine so.  How you finance your vehicle should not effect what type of insurance you are required to hold.  You should still have to be fully covered.

    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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About

Frazier Financial Consultants is a Fee-only financial planning firm with offices in Chapel Hill and Wilmington, NC.  We work mainly with individuals in planning areas not limited to retirement, insurance, investments, estate, tax, cash flow, etc.  As fiduciaries we put the clients needs first in all areas of planning and only make recommendations that are suitable to that particular client. 

We are registered with the NC securities division and are members of NAPFA. 

Details

Contact Info
View contact info »
Email
richfrazier72@gmail.com
Phone
919 260 9682
Web
I am available for web conferencing
Address
5616 Maxwell pl
WilmingtonNC 28409
Address
109 Conner dr, ste 205
Chapel HillNC 27514
Firm Website
Focus Areas
Retirement, Investing, Taxes
Client Specializations
Business Owners, People near retirement, Widows/widowers
Education
Bachelors, Commercial recreation with a business minor, Appalachian State University
Registrations
Firm CRD #112897
Regulatory Records
Please visit FINRA's website to review Frazier Financial Consultants'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.
Designations
CFP®

*Financial Advisor Disclaimer: We try to keep information accurate and up to date, however we cannot make warranties regarding the accuracy of our information.

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