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It might surprise people that my husband and I pay a financial planner, given that I spend a lot of time on financial, tax, and investment planning at work. However, hiring a planner has delivered a return that can’t be quantified: peace of mind.Here are some key reasons we pay for financial advice.1) We wanted a second opinion on a few important decisions.I wanted a different perspective on less-familiar subjects, such as handling employer stock, and whether we needed long-term care insurance. We could have confronted both issues on our own, but having professional guidance helped us move forward more confidently.2) We found a business model that makes sense for our situation.We were delighted to find a financial planning firm that could work with us on an hourly basis to address our specific questions, rather than ongoing portfolio management. Paying for financial advice on an ongoing basis, via an assets-under-management fee or other arrangement, can be right for some people. Shop around to find a business model that fits with the type and level of service you need. This requires clarity on what you want.Most holistic financial planners, including ours, are uncomfortable answering questions without fully understanding your financial situation. My question about long-term care insurance seemed straightforward, but our planner could only answer confidently if she understood our retirement assets, expected Social Security, and anticipated in-retirement spending. A good-quality planner needs time to review your total situation before giving answers. (I consider it a red flag if a planner is willing to give targeted advice without a comprehensive review.) That can mean more fees than you anticipated.3) It gave us an impetus to get, and stay, organized.A holistic financial planner also requires you to share a lot of informationstatements for all your financial accounts, tax returns, pay stubs, and so forth. If you’re paying hourly, it’s in your best interest to gather all that documentation yourself rather than turning over piles of disorganized paperwork. Gathering the documents was not a light lift, but I was able to cull a lot of financial paperwork through that process. That initial organization blitz has continued to pay dividends: We maintain just a small sheaf of financial documents and can readily access anything we need.4) We love having a succession plan.As an unexpected benefit to working with a planner, they now have current information on every financial relationship we have: our bank accounts, company retirement plans and IRAs, and insurance policies. Our accounts are linked to the firm’s financial planning portal so that our planner can see what’s happening with them in real-time, without needing fresh documents. Any of the planners in the firm could also access our information in a pinch. If something happened to us, our loved ones would have a one-stop resource to help them sort things out. You can keep scrupulous records and develop your own succession plan, but storing all of our documentation with a third party helps alleviate worries about records being damaged or lost.5) A third party can help give us “permission to spend.”My husband and I don’t deprive ourselves, but we’ve spent our lifetimes earning and saving. Turning the spending switch “on” in retirement could be mentally challenging. Our planner’s retirement projections (including stress tests for big market downdrafts and tax-law changes) have provided tremendous peace of mind. There are other avenues to help with the “permission to spend” problem, but for me a financial planner can provide a lot of value in this context. For our own peace of mind as we age, it’s a relationship we plan to maintain. This article was provided to The Associated Press by Morningstar. For more personal finance content, go to https://www.morningstar.com/personal-finance.Christine Benz is director of personal finance and retirement planning for Morningstar.Related Links When IRS Guidance Goes Wrong: How to Avoid Costly IRA Mistakeshttps://www.morningstar.com/retirement/when-irs-guidance-goes-wrong-how-avoid-costly-ira-mistakes A Checklist for Retirees to Finish This Yearhttps://www.morningstar.com/retirement/checklist-retirees-finish-this-year 4 Smart Moves to Cut Your 2025 Tax Bill Under New Ruleshttps://www.morningstar.com/personal-finance/4-smart-moves-cut-your-2025-tax-bill-under-new-rules Christine Benz of Morningstar
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In a surprising move, Trump Media and Technology Group (DJT) said on Thursday that it is fusing itself to a fusion company. The company will merge with TAE Technologiesa privately held fusion energy firm thats backed by Alphabet, Chevron Technology Ventures, and othersin a deal thats worth more than $6 billion. Its an all-stock deal, which is expected to close sometime next year, and is a huge and eyebrow-raising move for Trump Media, which is best known as the owner of President Trumps social media platform, Truth Social. When all is said and done, shareholders of both companies will own approximately 50% of the combined company on a fully diluted equity basis, per the company release. Following the announcement, DJT shares jumped nearly 30% during premarket trading. The stock was up almost 35% in early trading on Thursday as of this writing. However, shares are down nearly 70% year to date, and are down roughly 92% from their peak in March 2022. Why is this merger happening? As for the logic behind the surprising merger, the combined company aims to build massive fusion power plants that can supply energy to power the ongoing AI boom. In 2026, the combined company plans to site and begin construction on the worlds first utility-scale fusion power plant (50 MWe), subject to required approvals,” the company’s statement reads. “Additional fusion power plants are planned and expected to be 350 500 MWe.” It added: Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the A.I. revolution and maintain its global economic dominance. Devin Nunes, chairman and CEO of Trump Media and a former California congressman, echoed the sentiment in a statement included in that releasein true Trumpian fashion. Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now were taking a big step forward toward a revolutionary technology that will cement Americas global energy dominance for generations, he said, adding that “fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s.” Notably, there are not currently any operating fusion power plants. A report published in October by the Clean Air Task Force, a nonprofit environmental group, counts 29 fusion energy startups in the U.S. that have attracted significant funding in recent years. Further, the latest annual survey from Fusion Industry Association found that 75% of respondents dont expect fusion power plants to start supplying energy to the grid until the 2030s.
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Update Thursday, December 18, 1:35 p.m.: Shares of Trump Media and Technology Group (Nasdaq: DJT) remained elevated throughout early trading on Thursday following the Truth Social parent company’s eye-opening announcement that it will merge with the privately held fusion energy company TAE Technologies. As of midday, the stock was up more than 40% to roughly $14.67 a share. The stock is still down roughly 56% year to date. Shares had peaked for the year in January, early into President Trump’s second term. Original story: In a surprising move, Trump Media and Technology Group (DJT) said on Thursday that it is fusing itself to a fusion company. The company will merge with TAE Technologiesa privately held fusion energy firm thats backed by Alphabet, Chevron Technology Ventures, and othersin a deal thats worth more than $6 billion. Its an all-stock deal, which is expected to close sometime next year, and is a huge and eyebrow-raising move for Trump Media, which is best known as the owner of President Trumps social media platform, Truth Social. When all is said and done, shareholders of both companies will own approximately 50% of the combined company on a fully diluted equity basis, per the company release. Following the announcement, DJT shares jumped nearly 30% during premarket trading. The stock was up almost 35% in early trading on Thursday as of this writing. However, shares are down nearly 70% year to date, and are down roughly 92% from their peak in March 2022. Why is this merger happening? As for the logic behind the surprising merger, the combined company aims to build massive fusion power plants that can supply energy to power the ongoing AI boom. In 2026, the combined company plans to site and begin construction on the worlds first utility-scale fusion power plant (50 MWe), subject to required approvals,” the company’s statement reads. “Additional fusion power plants are planned and expected to be 350 500 MWe.” It added: Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the A.I. revolution and maintain its global economic dominance. Devin Nunes, chairman and CEO of Trump Media and a former California congressman, echoed the sentiment in a statement included in that releasein true Trumpian fashion. Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now were taking a big step forward toward a revolutionary technology that will cement Americas global energy dominance for generations, he said, adding that “fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s.” Notably, there are not currently any operating fusion power plants. A report published in October by the Clean Air Task Force, a nonprofit environmental group, counts 29 fusion energy startups in the U.S. that have attracted significant funding in recent years. Further, the latest annual survey from Fusion Industry Association found that 75% of respondents dont expect fusion power plants to start supplying energy to the grid until the 2030s.
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E-Commerce
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