Financial Planning Large Purchase Planning

The Power of Financial Advice Helping You See All the Possibilities

When you're planning to make a big purchase—a car, a home, a new swimming pool—it's important to consider more than just the purchase itself. We look at taxes, your long-term goals, your budget, and even family dynamics to help you create a plan that really works for you and your family.

Before you sign on the dotted line, we'll help you make sure you have considered all your options.

  • New Home Puchase

  • Vehicle Purchase

  • Major Home Improvements

  • Vacation Home Purchase

  • Trips

  • Wedding

Resources & Links How to Plan for a Big Purchase

Large purchase planning is like making sure you look left and right before you cross the road. Use these links as you do your research.

Is now a good time to change homes?

It may be, but buying homes is expensive. You can expect 2-3% in closing cost expenses on top of the down payment. When you a professional real estate broker, selling expenses can range from 7.5% to 9.5%, depending on where you live. If you sell it yourself, you can still see a 2.5% to 3.5% cost depending on selling taxes and title and escrow/attorney closing fees. For something this expensive, you want to make sure that you minimize the number of transactions. Making sure it is the right house for a long time can help reduce the risk.

I’m thinking of buying a Condo or house with a Home Owners Association (HOA)

A homeowners association is comprised of the different owners with your complex of condo. They will have covenants and restrictions on what is and isn't allowed. Some are well run with consistent dues and thoughtful maintenance. Others can be financial nightmares with surprise assessments and rowdy meetings. We have a list of items to consider when shopping for a condo in this blog post.

I’m planning on buying and selling at the same time. What options should I consider?

Whenever you are buying one house before selling another, there a lot of risks to consider. Hot real estate markets can cool quickly and leave you stuck owning two homes. Working with an advisor can help you identify strategies that may help manage your risk. Any good strategy will take into consideration how long you will need the funds, the tax consequences of any sales, and the costs of borrowing.

Should I borrow money from my 401(K) to buy my RV?

While borrowing from your retirement plan is often described as borrowing from yourself, it is usually not the first place to use when planning your RV purchase. Almost anything tied to a model year, like an RV is going to be a depreciating asset. Its value will continue to decline most of the time you own it. An advisor can help you get beyond the payment to make sure you plan for the full cost.

Our Process Getting Started with Large Purchase Planning

Discovery

We want to know you— your goals, concerns, dreams and values. During your initial meeting, we’ll spend time finding out who you are and what you want your money to do for you. We'll answer any questions you have and let you decide if we're the right firm for you.

Collaborative Review

We'll get to work creating a plan, and when it's finished, we'll schedule a follow up appointment where we will present the recommendations. We really value your input and will be happy to implement any changes you would like to see. 

Implementation Meeting

Once you are completely comfortable with the plan as presented, we’ll have you fill out paperwork to open any necessary accounts and assist in any transfers from other financial institutions. Over time, we'll stay as involved as you'd like us to be.

Schedule an APPOINTMENT

Working with Us Transparent, Upfront Pricing

Unlike most financial advisors, we believe in complete and total transparency when it comes to pricing. We also believe that you should only have to pay for the services you need. That's why we work hourly—no hidden fees or unexpected costs here. Plus, we're able to offer special pricing for families and non-profits.

See Our PRICING

How Much Does it Cost? Financial Planning Fees

LRIA typically charges a fixed fee and/or hourly fee for financial planning services. These fees are negotiable, but generally range from $250 to $2,000 on a fixed fee basis or from $50 to $300 on an hourly rate basis, depending upon the level and scope of the services and the professional rendering the services. If the client engages LRIA for additional investment advisory services, LRIA may offset all or a portion of its fees for those services based upon the amount paid for the financial planning and/or consulting services.
Administrative $50 / Hour
Para Planner $250 / Hour
Junior Advisor $250 / Hour
Senior Advisor $300 / Hour

All accounts require a $500 down payment.

These services may be included in our ongoing wealth management services. Click here for pricing.