Inwood, NY Financial Advisors and Resources



Financial Advisor Firms in Inwood, NY


MYDA ADVISORS LLC

Website

(516) 400-9757

45 Bayview Avenue

Inwood, NY 11096

SEC#: 801-108431
Years in Business: 5 years


How Retirement-Friendly is Inwood, NY?

  • Population: 9,892
  • % of Population 62 Years and Over: 13.6%
  • Average Home Value: $423,100
  • Average Monthly Housing Cost: $1,718
  • Average Household Income: $76,231
  • New York Total Tax Burden: 12.79% (Highest in U.S.)
  • New York Property Tax: 4.40% (6th Highest in U.S.)
  • New York Individual Income Tax: 4.96% (Highest in U.S.)
  • New York Sales and Excise Tax: 3.43% (22nd Highest in U.S.)


Inwood, NY Financial Advisor FAQs

You should ask any financial advisor these following questions when considering whether or not to start working with them or change advisors: What will be the annual cost for this service? How much does it cost for an in-person meeting? What are your qualifications to offer this advice? What are the steps in your advice process?
Financial advisors monitor the financial health of their clients. They work with individuals, families, and small businesses with income in excess of $100,000 per year. Often times they provide advice on things like retirement planning or educational financing.
Financial advisors typically charge a percentage of the assets they manage. The fee an advisor charges depends on their style and how much work they expect to put in.
As with most decisions, the first order of business is researching and understanding what service they're actually offering. Most financial advisors specialize in a few things like retirement, child/education savings, long-term care insurance for someone or yourself (if you're not already retired), and so on. It's wise to know their expertise before considering them as an advisor who can help you more broadly. One of the best ways to judge quality after that is by understanding whether or not they charge commission or solely rely on fees from clients - this determines how motivated they are outside your best interests.