- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Nearing Retirement - Advice
Posted on 9/14/24 at 9:52 pm
Posted on 9/14/24 at 9:52 pm
I am contemplating retirement. What I am looking for is someone to look over my plan going forward and see if I am overlooking something or if it is even feasible. The trouble is, the financial planners I have talked to want me to turn all of my investments over to them and let them manage for a periodic percentage of the total. As I said, I am not looking for someone to manage my investments for me.
Any idea what kind of professional could/would do what I am asking?
Any idea what kind of professional could/would do what I am asking?
21
Posted on 9/14/24 at 9:55 pm to Spankum
Who are your investments with?
Check with them.
Check with them.
Posted on 9/14/24 at 10:02 pm to Spankum
“Fee only” advisor is what you’re looking for, Ai think.
Posted on 9/14/24 at 10:03 pm to Spankum
I will let you know for 1% commission
Posted on 9/14/24 at 10:53 pm to makersmark1
quote:
Who are your investments with?
Check with them.
My first thought. Talk to them first.
Posted on 9/14/24 at 10:59 pm to makersmark1
quote:
Who are your investments with?
Check with them.
My investments are I primarily in a 401K….additionally I have mutual funds and bank accounts outside of a 401K as well as a company pension.
Posted on 9/14/24 at 11:01 pm to kywildcatfanone
quote:
My first thought. Talk to them first.
At least Edward Jones would have taken all my money by this point so I wouldn’t have much left to worry about.
Posted on 9/14/24 at 11:04 pm to Spankum
quote:
I am contemplating retirement. What I am looking for is someone to look over my plan going forward and see if I am overlooking something or if it is even feasible. The trouble is, the financial planners I have talked to want me to turn all of my investments over to them and let them manage for a periodic percentage of the total. As I said, I am not looking for someone to manage my investments for me. Any idea what kind of professional could/would do what I am asking?
Post up your situation here. There’s some really smart people on this board that will give some good advice and point you in the right direction.
This post was edited on 9/14/24 at 11:06 pm
Posted on 9/14/24 at 11:07 pm to Spankum
quote:
My investments are I primarily in a 401K….additionally I have mutual funds and bank accounts outside of a 401K as well as a company pension.
Age, balances, and current spend will go a long way on this board.
Posted on 9/15/24 at 4:23 am to Spankum
quote:
My investments are I primarily in a 401K….additionally I have mutual funds and bank accounts outside of a 401K as well as a company pension.
Some of the company plans offer some advisor services for “free.”
There are Monte Carlo simulators available online that allow you to see what is likely to happen outcome wise.
Posted on 9/15/24 at 4:40 am to Rize
quote:
Post up your situation here
This. I work with a ton of FAs in my law practice. Most I wouldn't give $1,000 to invest. There's a lot of savvy people on here and on r/reddit FIRE subreddits
Posted on 9/15/24 at 8:57 am to Spankum
I’m about 5yrs away and we recently sat down with our tax people. They offer financial planning as well. We filled out paperwork to include all of our accounts and they did a monte carlo simulation for a basic fee. We sat down for an about 2hrs with them as they explained if we are on the right track for that 5-10yr window. We went this route because we already had a 20yr relationship with them doing our taxes and I wanted to be advised with future tax liabilities in mind.
Posted on 9/15/24 at 10:00 am to Spankum
I’m always jealous when I see boomers on here post about retirement. When millenials get to boomer age all president aoc will give us for “retirement” is a Canada shot
Posted on 9/15/24 at 11:40 am to Spankum
If they don’t know tax then run. Go with Fee only. If they want to run it then you run. You’ll prob want estate planning and trusts if you don’t have that already. Medical planning and any long term care should be up front too.
Posted on 9/15/24 at 12:19 pm to Spankum
Look for a planner with an Retirement Income Certified Professional (RICP) designation.
Posted on 9/17/24 at 7:13 am to Spankum
"Fiduciary Financial Advisor" is what you're looking for. I have accounts at Fidelity and Vanguard. Each over a one time fee to meet with an advisor and go over your finances and make recommendations. They each also have "Robo" advisors that you can use and pay a bit of a fee.
Both Fidelity and Vanguard have free retirement calculators you can use that will get you pretty close. Do you use those?
Both Fidelity and Vanguard have free retirement calculators you can use that will get you pretty close. Do you use those?
Posted on 9/17/24 at 8:33 am to el Gaucho
Nearing Retirement - Advice
el Gaucho
I’m always jealous when I see boomers on here post about retirement. When millenials get to boomer age all president aoc will give us for “retirement” is a Canada shot
____________
Victim mentality
el Gaucho
I’m always jealous when I see boomers on here post about retirement. When millenials get to boomer age all president aoc will give us for “retirement” is a Canada shot
____________
Victim mentality
Posted on 9/17/24 at 12:26 pm to KWL85
quote:
Victim mentality
Nice try Millenial
Posted on 9/17/24 at 2:01 pm to Spankum
quote:I am still a ways from retiring but I love researching retirement planning.
I am contemplating retirement. What I am looking for is someone to look over my plan going forward and see if I am overlooking something or if it is even feasible.
I have a friend who is being aggressive in retirement..he has 18 months of expenses in a safe investment (eg, money market)...that is his emergency fund...and then he has the rest in equities...total stock market index, index 500, etc...
not sure you need to hand anything over to someone...but definitely talk to someone about tax avoidance strategies in retirement.
This post was edited on 9/17/24 at 8:56 pm
Posted on 9/18/24 at 6:05 am to Victor R Franko
quote:
I have accounts at Fidelity and Vanguard. Each over a one time fee to meet with an advisor and go over your finances and make recommendations.
Fidelity’s retirement calculator is Monte Carlo based and is pretty good. It allows you to input assumptions at a high level or detailed level if you so choose. I’m pretty sure it’s free to use, but if you have funds with Fidelity and are near an office, they’ll sit with you to go through it free of charge. I’ve found it to be pretty conservative in its estimates, but that’s a good thing. They may offer to manage, but they don’t push it hard.
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News