Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
55 retired two years +
Old 07-09-2011, 10:14 AM   #1
Confused about dryer sheets
 
Join Date: Jul 2011
Posts: 6
55 retired two years +

I've read this forum for awhile now and decided to join the fun! Like many here my DW and I LBYM'd went debt free in '99 and just put away all we could. DW retired in '08 early and we lived on one salary for a year to see if we could. Then my company "packaged" me out the door after 19 years in early '09. Best thing that could've happened - though it pinched my sense of pride a little. Although many here don't like FA's, we have one and it's worth the cost for our peace of mind - and the fact that she is very, very capable. It may have been said - W*rk is a dirty habit! LOL! When my megacorp booted me out the door I called her "Well, I got layed off today. Do I need to find another job?" Her: "Do you want to?" Me: "No". Her: "Then don't, you have enough to live on comfortalby till ya'll are 100" Me: I'm done!
__________________

__________________
shooter is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-09-2011, 10:18 AM   #2
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
Hello Shooter and welcome. I'd dump the advisor just in case you live to 110. (heh)
__________________

__________________
Work is something you do to get enough $ so you don't have to....Me.
73ss454 is offline   Reply With Quote
Old 07-09-2011, 01:37 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Welcome.


Many of us are DIY oriented and have invested the time and effort to understand it and manage it ourselves....


IMO - Using an adviser much is better than making a bunch of common mistakes that cost you money.


I think most of the people on the forum rail on the commissioned sales people that call themselves advisors (e.g., Insurance Agent). Their motivation is often the commission from the sale.
__________________
chinaco is offline   Reply With Quote
Old 07-09-2011, 01:46 PM   #4
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 683
Welcome to the forum.

Now that you have the time, you can teach yourself the basics of investing and potentially move from the FA to doing it yourself.

Using the FIRECALC on this site, and a good knowledge of your expenses, AA and SWR, you'll be all set.
__________________
Coolius is offline   Reply With Quote
Old 07-09-2011, 03:19 PM   #5
Confused about dryer sheets
 
Join Date: Jul 2011
Location: rural
Posts: 6
Welcome. Shooter.

Managing investments isn't for everyone - sounds like you've got a good FA.

Maybe you're enjoying a little personal peace AND freedom now.
__________________
RobertFrost is offline   Reply With Quote
Old 07-09-2011, 03:23 PM   #6
Thinks s/he gets paid by the post
kyounge1956's Avatar
 
Join Date: Sep 2008
Posts: 2,171
Quote:
Originally Posted by chinaco View Post
Welcome.


Many of us are DIY oriented and have invested the time and effort to understand it and manage it ourselves....


IMO - Using an adviser much is better than making a bunch of common mistakes that cost you money.


I think most of the people on the forum rail on the commissioned sales people that call themselves advisors (e.g., Insurance Agent). Their motivation is often the commission from the sale.
Welcome!

I second what chinaco says. Just make sure to use a fee-only advisor to eliminate the nagging question that's always there with a commissioned salesperson's advice: "is this recommendation based on what's best for me, or on what generates the biggest commission for the (so-called) advisor?" Many of us have discovered, to our chagrin, that it was the latter.
__________________
kyounge1956 is offline   Reply With Quote
Old 07-09-2011, 05:18 PM   #7
Moderator
MBAustin's Avatar
 
Join Date: Jul 2010
Posts: 4,158
Welcome, shooter. I manage most of our investments but still have an advisor to help me keep an eye on things and to get a different perspective. Whatever works for you!
__________________
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
----------------------------------
ER'd Oct. 2010 at 53. Life is good.
MBAustin is offline   Reply With Quote
Old 07-09-2011, 08:36 PM   #8
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Welcome, Shooter.
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Old 07-10-2011, 02:34 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,884
Hey Shooter.

Welcome here.

Quote:
Although many here don't like FA's, we have one and it's worth the cost for our peace of mind [/FONT]
Make sure that you understand how much your are actually paying the FA and what services you are actually receiving for the money. You've got the services of over a thousand folks on this forum that can give you more good free advice than what you are paying for with a FA. That said, if you understand what you are getting and what you are paying and still think it's worth the price, stay put.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 07-10-2011, 04:27 PM   #10
Thinks s/he gets paid by the post
frayne's Avatar
 
Join Date: Oct 2002
Location: 19th Hole
Posts: 2,534
Welcome Shooter and congrats on breaking the strings of employment.
__________________
A totally unblemished life is only for saints.
frayne is offline   Reply With Quote
Old 07-10-2011, 07:46 PM   #11
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,617
Quote:
Originally Posted by shooter View Post
Although many here don't like FA's, we have one and it's worth the cost for our peace of mind - and the fact that she is very, very capable.
Here's why many don't like FAs.

When you're busy working & saving for ER, it doesn't seem so much to pay the average FA's average 1% fee for maintaining your portfolio.

When you're ER'd and living off some version of the 4% rule (or less), it suddenly seems like a big deal to be forking over at least a quarter of your portfolio's annual income to the FA. Note that they get pretty much the same fee whether your portfolio is up 15%, up 4%, or down 10%.

But, hey, you could have the FA who proves to be the exception to the rule. And some people are too busy to take care of their portfolios, while others don't care for the emotional stress. But now in ER you can put a much more visible price on the putative value.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 07-12-2011, 10:50 AM   #12
Recycles dryer sheets
WB52's Avatar
 
Join Date: Sep 2008
Posts: 169
Shooter,
Congrats on the retirement. FIRE must be fine. I am working toward that goal, hopefully next year (no, really...2012).
Once you became used to the idea of not going off to w*rk every morning, what have you enjoyed the most? What was different than you expected? Have you found that your expenses went up, down, or the same?
Thanks in advance for the input. It kind of makes my megacorp more tolerable.
__________________

__________________
WB52 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
62, eight days retired, loving it. RobertFrost Hi, I am... 14 07-17-2011 10:37 AM
Five Years RE'd Today youbet Other topics 17 07-12-2011 11:42 AM
61 & retired from admin (secretary) job American-Canadian Hi, I am... 6 06-25-2011 11:02 PM

 

 
All times are GMT -6. The time now is 07:26 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.