CFP vs. CPA vs. CFA: The Only One Most People Need
Summary
Hosts Sean Piles and Elizabeth Ayola help listener Belle, a future vet practice owner, choose between a CPA and CFP for her new business. They discuss the pros of each professional, the importance of checking references, and strategies for consolidating her ten scattered investment accounts to reduce fees. The episode concludes with economist Elizabeth Renter sharing insights on consumer spending and the value of incremental savings.
Topics discussed
Sponsorships: Built and Accenture
Intro: Belle's background and starting a vet practice
Choosing between a CPA and a CFP for business
Vetting financial advisors and checking references
Belle's 10 investment accounts and consolidation
Tax implications and fees of closing accounts
Rolling over 401ks and using aggregator tools
Belle's action plan and sponsor ads
Intro: Liz's 12 years at NerdWallet and lessons
Consumer spending, K-shaped economy, and poverty
Emergency savings and the myth of homeownership
Ignoring macro economic noise and focusing on control
Financial resilience and final thoughts
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