Northbrook Financial Planner Takes Listener Calls on WGN Radio 720
Northbrook financial planner Patrick L. Doland answered listen’s financial questions over the weekend on The Money Show, a WGN Radio call in program hosted by Bill Moller. “Bill likes to have NAPFA advisors as guests,” Doland stated, “because listeners understand that planners who are compensated by commissions are more likely to be bias in how they address certain issues.” Doland was referring to the National Association of Financial Planners (NAPFA) which only allows members who are paid directly by the client and who are prohibited from receiving any commissions on the sales of various investment or insurance products.
During the Saturday afternoon program Doland addressed questions on college planning, asset allocation and retirement planning. In response to one caller, Doland indicated that 529 Plans offer families a great way to set aside college funds because any growth within the account is not taxed if the money is used for a qualified educational expense.
Another listener asked if it’s better to contribute money to an IRA or to create an emergency fund. Doland cautioned the caller to make sure he has at least six months of living expenses available before starting to save for retirement.
The Money Show is a favorite with many WGN listeners and Moller has had Doland on as a guest on several occasions. “This is the second year I took questions on the last Saturday of the year.” Doland commented. “With people looking back on the prior year, and forward on what may be ahead, it provides an interesting perspective when compared to caller questions during other times of the year,” Doland added.
Doland, a CERTIFIED FINANCIAL PLANNERTM practitioner with Reason Financial Advisors, started his career in banking and became a fee-only planner over ten years ago. He specializes in retirement planning and works primarily with middle market and high net worth clients through the Chicago area.
Reason Financial Advisors is an independent fee-only financial planning and investment advisory firm.