Firm:
Eugenio Financial
Job Title:
President
Biography:
Eugenio Financial is a Registered Investment Advisor (RIA), and Michael Eugenio is a Certified Financial Planner (CFP®), dedicated to custom building and managing growth oriented, risk-averse portfolios for each individual client. Michael's clients receive exceptional service, assuring smooth, informed, independent decision-making for all their investment and money matters.
Michael founded Eugenio Financial in 1990. His mission from the outset is to provide individuals and their families with the objective, independent financial advice that they want and deserve. Michael and his team serve clients in Oregon and Washington. His clients include pre-retirees 50+, retirees, people who have self-managed their investments and now see a need for an advisor and people seeking a second opinion.
Michael, who has been involved in the financial services business since 1986, believes in a long-term consultative investing approach with the goal of achieving steady, consistent growth. Each one of his clients is unique. By taking the time to really get to know them, Michael and his team gain the necessary insight to design an investment approach that is uniquely geared to their goals. This enduring approach has historically survived the most severe economic and market challenges.
When not working, he enjoys spending time with his wife Ellen, and spoiling his grandchildren, Tyler, Marissa, Joey and Silas. Michael has a passion for seeking out and collecting fine wines. He is also an avid Mariners fan, enjoys reading about US History and is very much at home in front of his Big Green Egg BBQ.
Eugenio Financial works with clients from Oregon and Washington state.
Education:
BA, History, Mount St. Mary's University
Assets Under Management:
$22 million
Fee Structure:
Fee-Only
CRD Number:
2475700
Disclaimer:
The information provided is solely for informational purposes and is not meant to be, and should not be construed as advice or used for investment or Financial Planning purposes. It is recommended that before making any decisions regarding Financial Planning or Investment Advice that you seek the counsel of a Trained & Certified Fee Only Professional.
Michael Eugenio CFP, is an Investment Representative of Cascade Financial Concepts, Inc DBA Eugenio Financial, a Registered Investment Advisor
Read more: Michael Eugenio CFP® | Investopedia https://www.investopedia.com/advisor-network/advisors/82428/michael-eugenio-cfp-/#ixzz4hZFb8DZl
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A Chartered Financial Analyst (CFA) is highly trained and skilled in portfolio management, and analysis. They usually manage vary large sums of money typically with mutual funds, investment houses, hedge funds etc. They also act as research analysts in a variety of functions
A Certified Financial Planner (CFP®) is a trained professional who can skillfully work in several areas of personal finance, such as Cash Flow Analysis, Insurance, Tax Planning, Retirement & Estate Planning, and of course personal Investment Management. Many CFP®'s will specialize in a couple of these areas and develop alliances with other skilled professionals, such as tax professionals and Estate Planning lawyers.
For personal financial planning and investment management you are usually better off with a CFP® who will take a holistic view of your complete financial picture and objectives.
Occasionally you will see Financial Advisors with both designations, however they generally work with very large portfolios to start out.
Always make sure your Financial Advisor has a well regarded designation such as CFP® before you hire them. There are a lot of poorly trained folks trying to pass themselves off as Advisors when they are nothing more than commissioned sales people.
If your new employer will allow you to roll money from your prior 403(b) into your new 401(k) that is certainly a worthy option.
You may also consider moving the money into a Traditional IRA. If you open the account with a Fee Only Investment Advisor your investment options will be much greater and you will have greater control over investment selection and rebalancing. Additionally you will be better able to diversify your overall portfolio. A personal IRA is also more eaccesible than a 401(k). Of course beware of possible taxes and early withdrawal penalties.
An Inherited IRA can be handled a couple of different ways. Because the IRA was already making distributions, the beneficiary must also continue the distributions. I am going to assume the decedent, your Mother's Sister, was past age 70 ½ which would require annual minimum distributions (RMD.)
Your Mom can choose to continue those distributions based on her sister's life expectancy had she lived, or her own life expectancy. Potentially, taking the RMD based on the longest life expectancy will result in receiving more money over time, even though the amount will decrease annually.
Because you are the new beneficiary, if you Mom dies with a balance in the IRA, you will cointinue with those distributions. However you can choose to take distributions based on your life expectancy, which would reduce the taxable amount and allow for possibly more money over time.
The amount that you can contribute to a Roth IRA is regulated by a couple of things.
First your Joint Adjusted Gross Income will determine your eligibility. If your Joint AGI is below $184,000 then you may be eligible to fully fund your Roth.
The second consideration is if you have deposited any money into a Traditional IRA.
The combined limit (Traditional IRA and Roth IRA) is $5,500 per person. If you are over 50 the Govt allows for a "Catch Contribution" of an additional $1,000 per person
Before you decide how much to contribute to your 401(k) take several things into consideration
Do you have an Emergency Reserve Fund that equals 6 months of living expenses? This money should be readily available to cover the OMG moments of life. Having this account fully funded is critical and should be done before worrying about your 401(k)
You rightfully show concerns about the fees but say nothing about risk or performance.
A well crafted portfolio will balance the risk you take against the expected rate of return.
To shun your employers 401(k) because of the high fees may not be your best road to travel. The tax breaks of fully funding your 401)k) vastly outweigh the cost of managing the funds.
Discuss with with a well qualified Fee Only Financial Advisor before you make any decisions