North Barrington, IL Financial Advisors and Resources



Financial Advisor Firms in North Barrington, IL


CAFG WEALTH MANAGEMENT, INC.

Website

(847) 991-1099

110 S Wynstone Park Drive
Suite 103
North Barrington, IL 60010

SEC#: 801-77473
Years in Business: 8 years

FINANCIAL SOLUTIONS, LLC

Website

(312) 243-0155

108 South Wynstone Park Drive
Suite 110
North Barrington, IL 60010

SEC#: 801-107129
Years in Business: 5 years

FINANCIAL SOLUTIONS, LLC

Website

(312) 243-0155

108 South Wynstone Park Drive
Suite 110
North Barrington, IL 60010

SEC#: 801-107129
Years in Business: 5 years

FINANCIAL SOLUTIONS, LLC

Website

(312) 243-0155

108 South Wynstone Park Drive
Suite 110
North Barrington, IL 60010

SEC#: 801-107129
Years in Business: 5 years


How Retirement-Friendly is North Barrington, IL?

  • Population: 2,982
  • % of Population 62 Years and Over: 26.1%
  • Average Home Value: $684,500
  • Average Monthly Housing Cost: $3,038
  • Average Household Income: $249,361
  • 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.)


North Barrington, IL Financial Advisor FAQs

There are two types of financial advisors. The first, and most common type, is a fee-only advisor which charges a percentage based on the account balance. They typically charge between 1% and 1.5%. The other type is commission based advisors who earn money by receiving commissions from the transactions they make you do, such as turning your IRA into a Roth IRA or buying certain bonds for your retirement portfolio.
Financial experts recommend choosing an advisor with a CFP designation, which can be verified on the website of the NAPFA. If possible, set up a face-to-face meeting with several advisors before making your final decision. You want to know that you can work well with this person before entrusting them with your financial future.
You may need a financial advisor, because advisors can help establish the right protection to suit your income and objective. For example, you'll want insurance coverage for disability and injury that would allow you to continue to work if injured or sick. There is also Medicare which covers certain medical expenses at a high level; but not everyone is eligible and the coverage caps off after awhile. Good planning should start early in life with smaller contributions gradually increasing as life-expectancy sinks lower and lower. You'll want investments so when you retire, these efforts will generate enough income through investment yield instead of just withdrawing from savings accounts.
Ask questions like: What is your investment process? How will my assets be protected? and, How will we keep in touch on developments that might affect my health care during retirement?