Personal fire plan

[Littlekings]

Is it appropriate to post my financial plan here and see whether it looks solid to forum members? I have financial advisor and have gone over my plan numerous times but I’m afraid I’m missing something.

It seems many here are more versed in investments and taxes than I am.

 

[gwraigty]

Sure!

 

[Kelor]

One warning. The most vocal people on this board despise financial advisors. Whatever you post will likely be met with a tremendous amount of criticism.

 

[FI_RElater]

...or you could go over to the Bogleheads site and post there; they have a lot of postings like you would want


see their general format that they like, with info on your assets, allocation, and annual costs, along with any pension, etc. They'll give you a LOT of feedback

 

[Red Badger]

One warning. The most vocal people on this board despise financial advisors. Whatever you post will likely be met with a tremendous amount of criticism.

I disagree. While many of us self manage our eggs, the animosity isn't against FA's. It's mostly targeted at the sometimes questionable advice coupled with the high cost of the AUM types and the "active" investors that do well churning accounts and collecting commissions for said churning.

Most of us DIY investors would agree that a fee only FA is often a good recourse for those who can't/wont do same.

OP - feel free to post here. Lots of FI brain trusts that would be eager to help you. And - Bogleheads.

 

[COcheesehead]

...or you could go over to the Bogleheads site and post there; they have a lot of postings like you would want


see their general format that they like, with info on your assets, allocation, and annual costs, along with any pension, etc. They'll give you a LOT of feedback

Careful with BH. If you aren’t drinking the kool aid, you’ll need some pretty thick skin to deal with the lava of mantra that will flow down upon you. I was chastised because *gasp* I own individual bonds.

 

[Littlekings]

Thanks for the warnings. Maybe I’ll hold off. More than once I’ve gone to forums to ask advice only to get snide replies from a$$holes that are most likely making up for some of their inadequacies. If you are in here and giving advice why would you be an ass unless you were jealous or just a jerk?
I’ll stick with my FA and accountant.

Thanks though.

 

[Aerides]

Thanks for the warnings. Maybe I’ll hold off. More than once I’ve gone to forums to ask advice only to get snide replies from a$$holes that are most likely making up for some of their inadequacies. If you are in here and giving advice why would you be an ass unless you were jealous or just a jerk?
I’ll stick with my FA and accountant.

Thanks though.

We're not big on that type here, but of course you ask for opinions on the internet, you'll get a range. As you'll see in our community rules, we know we're going to sometimes disagree, but most decent folk here know how to do that without being disagreeable...

I recommend you review other intro posts here: Hi, I am... - Early Retirement & Financial Independence Community

At the top of that list you'll also see a stickied post about what to typically include.

And, yes, probably about 70/30 against an FA, but I think more of us had them at one point than would care to admit!

 

[pb4uski]

Thanks for the warnings. Maybe I’ll hold off. ...

Nothing ventured, nothing gained.

 

[DrRoy]

But why not self manage your $? Someone who pays 1% to a FA and has a 4% WR is paying 25% of their income for it.

 

[mystang52]

If OP is still checking in: I wouldn't be concerned about snide comments. There might be such comments abut the actual investment allocations, but even then most likely in a seriously constructive vein. I suggest you post the numbers for your requested feedback.

 

[Pellice]

Littlekings, if you look at the "Hi, I am ..." forum you will see that many, many newcomers DO post their financial plan and ask for input, and get good feedback. And, anyway, the post you want to make ISN'T about financial advisers, it is about your plan. You will get good feedback.

 

[Mdlerth]

I'd start a poll but I'm busy packing up my office

One warning. The most vocal people on this board despise financial advisors.

I wonder which generate more vitriol: financial advisors or annuities?

 

[griffithee]

I wonder which generate more vitriol: financial advisors or annuities?

Or taking SS early...

 

[REWahoo]

I wonder which generate more vitriol: financial advisors or annuities?

Or taking SS early...

That's an easy question to answer: an AUM FA who sells variable indexed annuities and advocates taking SS early.

 

[COcheesehead]

I wonder which generate more vitriol: financial advisors or annuities?

or paying off your mortgage or how you define net worth or....

 

[Rianne]

Is it appropriate to post my financial plan here and see whether it looks solid to forum members? I have financial advisor and have gone over my plan numerous times but I’m afraid I’m missing something.

It seems many here are more versed in investments and taxes than I am.

I've learned more here than any article, accountant or FA over 30 years. I say share your stuff.

 

[pb4uski]

If OP is still checking in: I wouldn't be concerned about snide comments. There might be such comments abut the actual investment allocations, but even then most likely in a seriously constructive vein. I suggest you post the numbers for your requested feedback.

Littlekings, if you look at the "Hi, I am ..." forum you will see that many, many newcomers DO post their financial plan and ask for input, and get good feedback. And, anyway, the post you want to make ISN'T about financial advisers, it is about your plan. You will get good feedback.

I've learned more here than any article, accountant or FA over 30 years. I say share your stuff.

+ whatever... unlikely you will gat any negative comments and if you do you are free to ignore them... in fact, the forum even includes a feature that yu can ignore the poster if you wish to.

 

[Bigdawg]

or paying off your mortgage or how you define net worth or....

or side hustles. U R NOT RE if you have a side hustle!!! Lol

 

[Bir48die]

One warning. The most vocal people on this board despise financial advisors. Whatever you post will likely be met with a tremendous amount of criticism.

Despise is a very strong word.

 

[pb4uski]

Despise is a very strong word.

Yes, I just view most FAs as "sub-optimal".

 

[Bir48die]

Perhaps an interview questionnaire for new members that mention FA and then they are kicked out of the exclusive RE “club”. Or if they fibbed in their sheet then tar and feathers are in order.

 

[ckelly78z]

On the subject of FAs, when your bucket is shallow (like mine is), you don't want to share a percentage of it with someone who gains from selling their product, or skims off the top.

I will probably need to consult an accountant about tax advantage strategies in the near future, but doing well without investment help.

 

[gwraigty]

Careful with BH. If you aren’t drinking the kool aid, you’ll need some pretty thick skin to deal with the lava of mantra that will flow down upon you. I was chastised because *gasp* I own individual bonds.

I read BH once in awhile, but don't consider myself one. The above is why I don't intend to join. There isn't a lot of tolerance there for diversity of thought.

 

[kgtest]

When I went to EJ and stated I wasn't going to sign up for any products, and wanted my money to stay at VG, FA said sounds like you are all set on your own. Didn't bother to pitch me anything, told me to watch out for healthcare costs in ER, and I appreciated the reassurance my DIY approach was solid.

Something tells me OP doesn't like the color green...I love it personally. FIRE away!

My #1 advice for newbies, take ownership and be accountable, that will require lots of education. What is a stock, what is investing, what is a bond, etc etc. When should I own bonds? Asset Allocation etc etc. You need to commit to it for sure.

As a famous rapper once said "I keep my mind on my money, and my money on my mind!!"