Larson Financial

[mohderm]

Has anyone used Larson Financial planning services? Just curious. They have a pretty good book out that I just read and only work with doctors.

Thanks

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[eefen]

Has anyone used Larson Financial planning services? Just curious. They have a pretty good book out that I just read and only work with doctors.

Thanks

What are you planning on using them for? Retirement planning? You could potentially save yourself a bundle by doing this yourself.

http://www.bogleheads.org/wiki/Category:Getting_started

 

[mohderm]

I was looking for a comprehensive planner--insurance, investing, contract negotion, estate planning, etc. Its not that expensive ($1500 per year)

 

[eefen]

I was looking for a comprehensive planner--insurance, investing, contract negotion, estate planning, etc. Its not that expensive ($1500 per year)

Life insurance?

term4sale.com - buy as much as you can for as long as you'll think you'll need it. Make sure the premium doesn't change throughout the term.

Disability insurance?

http://whitecoatinvestor.com/disability-insurance-introduction/

For home and auto insurance, shop around and make sure you're getting a good deal, +1-3 million in umbrella coverage.

Contract negotiation? Read some books, know what you want/need, and be willing to walk. Have an attorney review your contract before it's signed, just to be on the safe side.

For malpractice insurance, spend some time researching. If you wanted some help, then this might be a good place to talk to Larson Financial.

Investing?

Start reading here and here, and ask any questions you might have here. This stuff is not complicated - it just takes some time to sit down, find some trusted sources, and learn it all.

Estate planning?

The sources listed above are all good resources for this as well. It would also be a good idea to sit down with an estate planning attorney once you have general feel for what needs to be done to be sure that it gets done correctly.

All of this stuff is not difficult - most of it can be done entirely on your own and some of it you only need help once or twice. However, some people don't have any interest in it whatsoever, or don't have the temperament for it - that's fine. Places like Larson Financial are there to help. Just remember two things:

1) Using services like the above for many years in a row will potentially severely drain your eventual returns.

2) Always remember the saying: "Look around the poker table; If you can't see the sucker, you're it."

Whichever route you decide, good luck! 🙂

 

[seattlefan]

Beware the $1500 is only a starting point with Larson. One of my friends had a very bad experience with them. My advisor charges by the hour so that I am not paying for things that I don't need, however as a resident he isn't charging anything because my needs are relatively small and simple. If you want a refferal I would be more than happy to give it to you.

 

[The White Coat Investor]

I reviewed them here:

http://whitecoatinvestor.com/larson-financial-review-friday-qa-series/

I think they're a good firm. But they are pretty expensive as you might expect for a full service firm who markets specifically at physicians. I agree with the poster above that stated $1500 is the starting point. If I were to hire them today as my financial planners and asset managers I'd be paying $6-8K per year, and more as my portfolio grows.

 

[The White Coat Investor]

Beware the $1500 is only a starting point with Larson. One of my friends had a very bad experience with them. My advisor charges by the hour so that I am not paying for things that I don't need, however as a resident he isn't charging anything because my needs are relatively small and simple. If you want a refferal I would be more than happy to give it to you.

If you don't know how you are paying your adviser it is almost certainly through commissions on insurance products and mutual funds. He's not working for free, even if he isn't yet charging you his regular hourly rate.

 

[WeldonM]

They are expensive even that it doesn't look like that at the beginning. As seattlefan says; they charge your hourly and you could end up paying way more than $1500.