We’re also following Pro-Palestinian protests at UNC-Chapel Hill, when we could see our first 90-degree day of the year, and a preview of the new Dueling Dinosaur exhibit before its grand opening tomorrow. Watch WRAL-TV at 7 and search for these and other stories on WRAL.com.

On WRAL at 7: 6-month-old infant shot, 1 killed. What we’re learning about more victims

The "Dueling Dinosaurs" exhibit opening this weekend at Raleigh's North Carolina Museum of Natural Sciences will feature what's believed to be the most complete T. rex skeleton ever discovered.

'Dueling Dinosaurs:' One-of-a-kind dig at Raleigh science museum opens this weekend

DinoLab at North Carolina Museum of Natural Sciences

Homeowners insurance doesn't cover floods, so purchasing separate flood insurance is crucial in North Carolina, especially in high-risk areas.

Homeowners insurance doesn't cover floods: How to protect your home in North Carolina

Princeville residents weigh options after Hurricane Matthew

All assets associated with the tag: financial planning

Financial planning Coverage

Not all financial advisors are created equal. And there are more options now than ever. Here's what you need to know to make the best decision for you. 

<p>There's a lot of confusion surrounding financial advisors. A recent magnify money survey found that while 45% of people without a financial advisor think they are more expensive than they are. 95% of those who use one say they are worth the money. So is having a financial advisor worth it. We think so. And here's what you need to know when choosing one, choosing an advisor or choosing a fiduciary planner is a huge piece that most people come to us for whether they're using certain programs um online or hear us through radio or TV. The big thing about an advisor is fiduciary. There isn't a specific designation or designation that makes one a fiduciary and that's what's confusing in the industry. Even some newer designations are using the word fiduciary, but that just means to one classification of the management. A true fiduciary always has your needs ahead of their ears. As you're looking for an advisor, whether they are independent or working for a broker dealer, you may hear about the standards that they're held to when working with clients. The thing is there's a big difference between suitability and fiduciary standards Now, the suitability standard basically is a, is that questionnaire you probably answered before I ask you a whole bunch of questions uh about your, your risk tolerance and your understanding of money. And then the advisor will score that based on what you say, they pick certain different investment vehicles that are suitable for you. Based on your answers to me. That's a shortcut and it's ridiculous and it's not professional, a true fiduciary standard has a true, the advisor has a true conversation with you and your family seeing what makes you tick, what's important to you, what you don't like what you really do like and they put a plan together for you that has no commissions coming out and put and, and it will give you that lifetime income. It's a plan based on your answers based on what you need with no games, gimmicks or financial termites for some. It may seem wise to bypass going to an advisor altogether. An E marketer survey showed that in 2021 3.5 million Americans used a Robo advisor to handle their portfolios. That number is expected to grow to 5.2 million by 2025. Although they're growing in popularity. How effective is a Robo advisor? Are they held to the same standards as human advisors, Robo advisers. There, there is a classification. I know there's a lot of question behind this and we honestly don't know how it's regulated yet even from our side of the table. Robo advisors being a fiduciary, I, I can see how the answer could easily be. Yes or no. But as we've kind of seen, Robo advisors are becoming less and less um kind of popular than they were just a handful of years ago. Mainly because of the volatility, the inflation and the interest rate environment. We're in their algorithms could not take into account an emotionally driven market because data wasn't there supporting the pricing of the market. There was a limitation that a lot of actuaries didn't take into account. But I think technology algorithms robo advising, I think financial advising is going something that is more behind the screen. But I still want would like to have a hands on approach it. Like I love that airplanes can use autopilot but I need to know if there's something unforeseen that there's someone in that cockpit hands on that can make changes whether your adviser is in person or behind a screen. The real question still lingers how much will it cost to work with a financial advisor? Is there a difference between how one is paid versus the other fiduciary advisor compared to other advisers? The way they're paid can either be a fee only where you have agreed upon fee you pay the fiduciary every single year. I don't like that because I mean, now you're starting from below the if the objective of financial planning in the financial world is to have more money year over year. If you have an adviser taking a yearly fee out, we've seen other, we've seen some charge $10,000 or more a year to put a plan together for you and then ongoing maintenance of that plan. Well, then you're starting every year in a $10,000 hole. So you have to earn 10,000 just to break even. It's kind of scary. So, a true fiduciary plan should be one that is totally transparent, you know what's going on and you're not paying fees, you're not paying commissions unless it's agreed upon. And I really think there are so many different strategies out there that don't require commissions and fees that the lazy way is to pay a planner and then pay them again for the products. So don't do that. You've worked hard for your savings and there are some financial advisors that are nothing more than lines of code following algorithms created to follow an unpredictable market. And some advisors choose to hold themselves to a higher standard than others. If you have questions about who you should choose an advisor, come meet with coach Pete and the certified fiduciary planning team at capital financial, take advantage of the no cost, no obligation and financial review to understand the ins and outs of your retirement plan, a customized plan based on your wants and needs contact us today. Also, be sure to like this video and subscribe to this channel for more retirement help.</p>

Money Desk: Retirement help center episode 9: how to choose an advisor

Retirement help center episode 9: how to choose an advisor

A report released this week by the San Francisco-based financial services company LendingClub shows 61% of Americans are living paycheck-to-paycheck.

2 CHILDREN. THE FUNERAL SERVICE WILL BE HELD AT 11:00AM AT THE MOUNT OLIVE UNIVERSITY. ACCORDING TO RIA. >> MORE PEOPLE ARE SEEING THEIR ENTIRE PAYCHECK DISAPPEAR WHEN THE BILLS ARE DUE. A NEW REPORT REVEALS 61 PER CENT OF US ARE NOW LIVING PAYCHECK TO PAYCHECK. THAT'S A 5 AND A HALF PERCENT INCREASE IN A YEAR. WRAL'S. MATT TALHELM IS LIVE IN RALEIGH TO SHOW US HOW INFLATION IS CUTTING DEEPER INTO OUR WALLETS. WE SURE FEEL IT. MATT. >> HE HAD EVER WE FEEL IT. EVERY TIME YOU GO TO THE GROCERY STORE OR THE GAS PUMP OR MAYBE PAY THOSE UTILITY BILLS, THE MONEY FLIES OUT AS SOON AS IT'S DIRECT DEPOSITED FROM OUR JOBS. AND IT MAY SURPRISE YOU TO FIND OUT THAT SOME OF THE PEOPLE SCRAPING BY ARE MAKING 6 FIGURES OR MORE. >> SOMEBODY WILL DO A GUY AND I JUST PAID MOST OF US HAVE THAT FEELING WHEN BILLS COME DUE AND MORE PEOPLE ARE LIKE ALLISON FOWLER WHEN IT COMES TIME TO PAY, SOMETIMES YOU HAVE TO PRIORITIZE. AND IF YOU'RE GOING TO PAY THIS VIEW RATHER THAN THAT DEAL, THE MOTHER OF 6 WORKS AT A HOTEL AND IS CONTINUING HER EDUCATION AT WAKE TECH TO TRY TO EARN MORE IN A NEW CAREER. I'M PUTTING IN THAT WORK. I'M ABLE TO SEE THE BIGGER PICTURE NOW. BUT IN THE MOMENT, IT'S TOUGH TO MAKE ENDS MEET WITH SOARING INFLATION FROM THE GROCERY STORE TO THE GAS PUMP HAVE JUST LEARNED HOW TO SAID CERTAIN MONEY ASIDE, IF I DON'T HAVE TO TAKE, I DON'T. BUT MOST OF THE TIME I DO, FOWLER IS AMONG A GROWING NUMBER OF PEOPLE LIVING PAYCHECK TO PAYCHECK. THIS NEW REPORT FROM LENDING CLUB FINDS 61% OF PEOPLE HAVE LITTLE LEFT OVER AFTER PAYING ALL THEIR BILLS. DUE TO IS LENDING CLUB'S MILLENNIAL MONEY EXPERT. WE'RE NOT REALLY SEEING CONSUMER SLOW DOWN THEIR SPENDING HABITS DESPITE THE RISE IN THE COST OF LIVING, IT'S CATCHING UP MOST TO PEOPLE MAKING 100 TO $150,000. THE REPORT REVEALS 52% ARE LIVING PAYCHECK TO PAYCHECK. THAT'S AN 11% INCREASE IN JUST ONE MONTH. IF WE ARE NOT, WE'RE GOING TO SPEND IT. AND WE'RE JUST YOU'RE NOT WHAT WE HAVE TO FIGHT THAT ARE GENTLE TOWNSEND HAS BEEN ADVISING FAMILIES ON THEIR FINANCES FOR 40 YEARS. AND ONE OF THE HARDEST THINGS TO BE FINANCIALLY IS TO LIVE BELOW. >> THAT MEANS IT'S TOUGH. TOWNSEND SAYS IT COMES DOWN TO BUDGETING BASICS, INCREASE SHORT INCOME BY ASKING FOR A RAISE OR GETTING A SIDE GIG AND CUT EXPENSES WHERE YOU CAN MAYBE CANCEL A STREAMING SERVICE OR GIVE UP THAT BEACH VACATION PLANNED CAREFULLY. BE PATIENT THAT PLODDING STEPS FORWARD AND IT WILL PASS >> YEAH, WE HAVE TO HOPE THAT IT WILL PASS SOONER. RIGHT NOW. A LOT OF PEOPLE ARE TAPPING INTO SAVINGS TO GET BY LENDING CLUB'S REPORT FOUND THAT THE AVERAGE SAVINGS ACCOUNT DROPPED 8% IN JUST ONE MONTH. THAT'S ABOUT $517 IN THAT MONTH. THAT DISAPPEARED TO COVER

Inflation forces more families to live paycheck to paycheck

The LendingClub report found 33.5 million Americans spent more than they earned in the past six months.

61% of Americans, more than half of those making $100K+, are living paycheck to paycheck, new report finds

Money

When Fred Schwartz was diagnosed with multiple sclerosis in 1994, the financial challenges that lay ahead were not top of mind.

When a Diagnosis Demands a Long-Term Money Strategy

When Cynthia Hutchins started her career as a financial planner in the 1980s, the concept of "retirement" was simple and straightforward.

Financial planning Coverage

Money Desk: Retirement help center episode 9: how to choose an advisor

Inflation forces more families to live paycheck to paycheck

61% of Americans, more than half of those making $100K+, are living paycheck to paycheck, new report finds

When a Diagnosis Demands a Long-Term Money Strategy

To Pay for Longer, Later Retirements, Consult a 'Financial Gerontologist'