East Dundee, IL Financial Advisors and Resources



Financial Advisor Firms in East Dundee, IL


JAMES T. BORELLO & CO.

Website

(847) 426-0200

151 Dundee Avenue

East Dundee, IL 60118

SEC#: 801-114233
Years in Business: 2 years


How Retirement-Friendly is East Dundee, IL?

  • Population: 3,181
  • % of Population 62 Years and Over: 28%
  • Average Home Value: $206,300
  • Average Monthly Housing Cost: $1,358
  • Average Household Income: $84,646
  • Illinois Total Tax Burden: 9.52% (9th Highest in U.S.)
  • Illinois Property Tax: 4.00% (8th Highest in U.S.)
  • Illinois Individual Income Tax: 2.11% (19th Lowest in U.S.)
  • Illinois Sales and Excise Tax: 3.41% (24th Highest in U.S.)


East Dundee, IL Financial Advisor FAQs

It's not a matter of need for everyone, but it can be very helpful. Running your own investments is both time consuming and expensive. A financial advisor might help with that. Financial advisors have the ability to invest in more funds than an individual investor without having to slog through all of the research themselves. Plus, they're subject to legal fiduciary rules which means they will always act in your best interest when handling your money where you would not be afforded these protections if you were managing on your own - or if someone is doing it for you without the proper credentials
Financial advisors understand taxes, risk management, investments, the difference between stocks and bonds, what you can borrow money for against your home, what you need to save every year to earn a well-funded retirement in 30 years or less--in short they are holistic planners.
The exact payment system varies from one financial advisor to another. In some cases, the advisor charges an upfront fee for a certain period of time and then receives a portion of your investment returns over that period, typically in the range of 1%. In other cases, advisors charge you fees directly based on the value of assets under management.
A financial advisor should be legal and licensed, with a fiduciary duty to act in their best interest of the client. It is important for you to feel comfortable with your financial advisor, so choose someone with a personality that matches yours.