Jim Shagawat

Partner Advisor at AdvicePeriod and 1 other company
On the record
Recent Quotes
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  • How Much Can You Contribute to a Solo 401(k) for 2019?

    "Though a solo 401(k) takes little paperwork to set up, you should be aware that once your plan exceeds $250,000 in assets, you must file Form 5500 with the IRS every year.", according to Jim Shagawat, a certified financial planner in Paramus, N.J.

    June 18, 2019, 03:51:52 AM EDT By Thomas H. Blanton, Reporter, Kiplinger's Personal Finance,Michael DeSenne, Executive Editor, Kiplinger.com, Kiplinger
    Copy and paste to read full article: https://www.nasdaq.com/article/how-much-can-you-contribute-to-a-solo-401k-for-2019-cm1166101

  • Financial Advisor Fees: Fee-Only vs. Fee-Based

    “The legal obligation is called ‘suitable,’” said Jim Shagawat, a fee-only advisor at Windfall Wealth Advisors in Paramus, New Jersey. This means that the advisor must be able to make a reasonable case that the investment or insurance product fits the client’s general needs. A fee-based advisor who is registered with the SEC is generally bound by fiduciary duty when acting as an advisor; when they sell products, though, the suitability standard generally applies. Make sure you know which hat your advisor is wearing at all times.

    Copy and paste to see full article: https://smartasset.com/financial-advisor/fee-based-vs-fee-only-financial-advisor
    Ben Geier, CEPF® AUG 01, 2019

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