AARP Hearing Center
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount.
Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) as a one-time transaction or must I hire the CFP full-time to manage my entire financial portfolio (cd, mutual funds, Social Security, etc.) for what could be a multi-year deal at about $5,000 a year?
Also, if I do hire a CFP to handle all of my finances at $5,000 a year, would it be expected that the CFP would save me money and make me more money that would offset the $5,000 fee?