The Most common Questions About Working With Me
Here are my responses to questions that potential clients frequently ask
Financial Planning FAQ for Millennial Women
Most Millennials who work with a financial advisor reach an "Oh, s&*#!" moment that prompts them to reach out for help. A meaningful life change or even just an argument at home typically prompts Millennial women to actually start the process. But even then, they may have so many questions about financial planning. So I've written my responses here to the best questions to ask a financial advisor, whether you're speaking with me or someone else.
Most Millennials who work with a financial advisor reach an "Oh, s&*#" moment that prompts them to reach out for help. But even then, so many questions about financial planning may remain. I hope my responses here help you get a feel for whether Illumint is the right fit for you.
Recognition
A "Best financial advisor for millennials"
Business Insider
"40 Under 40" Class of 2021
InvestmentNews
"Top 100 Financial Advisor in the U.S."
Investopedia
"Best of D.C." Money Management Services
Washington City Paper
"Top Financial Advisor"
Washingtonian
Recognition
"Best financial advisor for millennials"
Business Insider
"Top 100 Financial Advisor in the U.S."
Investopedia
"Top Financial Advisor"
Washingtonian
From my perspective, any aspect of your life that touches your finances should be fair game as part of comprehensive financial planning for Millennials. So of course, we'll work on tax planning, retirement planning, insurance planning, and estate planning. But let's not forget other important financial topics to you, like child care, housing decisions, college savings, and inheritance advice.
What does financial planning for Millennial women include?
Are you ready to Take Control of Your Financial Future?
Illumint offers financial planning for Millennial women. I welcome people from all backgrounds and in all financial circumstances. More specifically, Illumint specializes in inheritance advice for Millennial women. As our parents get older, more Millennials must confront the sadness, stress, and guilt that can arise from inheriting money. But an inheritance also offers opportunities, which I help clients make the most of. You can learn more about my "why" here.
What does Illumint specialize in and why?
Are you between the ages of 25-45? Have your savings grown in recent years? Are you trying to take a more proactive approach to growing your money, minimizing your taxes, and setting yourself up for the life you want? Have you received or are you expecting an inheritance? You don't need to check all of these boxes. But if you said "yes" to any of these questions, then most of my clients are like you!
How do I know if I'm a good fit for Illumint?
The best way to make you feel comfortable about investing specifically depends on when you think you may want to use your money. Retirement, for example, demands a different asset allocation than a college tuition bill two years from now. In all cases, we will diversify your investments as much as possible, often using total stock market index funds.
What if I'm a little nervous about investing my savings?
I'll respond to your application in three business days or less. If we seem to be a good fit for each other, I'll send you a calendar link. You can pick your preferred date for us to chat in more detail for about 20-30 minutes. There's no cost for this meeting and you don't need to commit to becoming a client. After this conversation, I'll give you some time to think about my responses to your questions. When you're ready to start, you can let me know over e-mail, and I'll send you a few initial admin items and a little light homework. I estimate that many clients complete these tasks in about 30 minutes or less. We should then be able to hold our first meeting in the following week or two.
What happens after I apply to work with you?
I publish my fees on my website because you deserve to know in advance what financial advice will cost. Only then can you make a truly informed decision. I'm a fee-only financial advisor who doesn't earn any money from commissions, referrals, or product sales. You can see Illumint's current pricing here. And yes, as a Certified Financial Planner, I'm held to a strict standard of fiduciary duty. I must always put my clients' interests ahead of my own when giving financial advice.
How much does working with you cost, and do you always act as a fiduciary?
Nope! Illumint is based in Washington, DC, but Kevin Mahoney, CFP® works virtually with Millennial women across the country. I'm permitted to conduct business where licensed (D.C.) or exempt from licensure.
Do I need to live in Washington, DC to work with Illumint?
Yep! I work with Millennial women both individually and with their partners. When we work as a couple, you and your partner are equal parts of the planning process. Unless you tell me otherwise, we will aim to put together a strategy that incorporates both your individual and relationship financial needs.
Do you also work with Millennial couples?
Do you manage investments, or will I need to do that myself?
I do offer investment management, but it's not required for clients. It's totally up to you. Some clients want recommendations and prefer to implement them themselves. Others want me to manage their investments for them. We'll decide together which approach makes sense for you.
No minimum income, savings, or investments required to work with me. Whether we both feel like we're a good fit for each other matters much more. Over the years, I've found that clients find me most helpful when they have one or more significant money decisions to make. Especially when you've build a solid foundation and want to start making the most of your financial opportunities.
Do I need a certain amount of money to work with Illumint?
Reviews
"Thanks to Kevin's advising, I now feel more confident and knowledgeable making financial decisions for my family."
– Meg M.
(36)
"Kevin is calm, non-judgmental, and excellent at asking questions that help you drill down to core goals."
– Laura F.
