Join Early Retirement Today
Thread Tools Search this Thread Display Modes
FIRECalc used by financial advisors!
Old 10-22-2005, 02:19 PM   #1
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,793
FIRECalc used by financial advisors!

Hey, Dory, I wonder if you're going to see rising FIRECalc hits. A Smith-Barney office in the DC area might start using it to advise their clients.

Last week a friend's work contract ended a little sooner than he'd expected and he networked for a Hawaii job. I asked him if he was ready to retire yet (he just turned 60) and I pointed him to FIRECalc. Here's his response:
"Just after I read your note, I received an email for me to contact my financial planner in DC at Smith Barney. A few months ago I had a meeting with him and he told me that I was in a position to walk away from my job immediately and live very comfortably. After I got "dismissed" last week I sent an email back to him asking that he recheck his figures just to make sure that I could get through to SS eligibility without worry. I just called him and we had a great conversation about the above information. He had never seen the FIRECALC web page so we had a ball going through it while we were on the phone. I think my "percentage" was right up there around 93% after we plugged in all of the numbers. Maybe I won't have to go completely over to the "dark side" after all and will be able to come up with my own mental gymnastics and get myself on the path to true enlightenment!!! I asked my girlfriend what she thought I'd look like in a ponytail. Thanks shipmate!"

I'm not going to get into how much he paid his advisor to plug his numbers into a free website calculator. He's happy and he sleeps well at night so it's working for him.

But you might want to start charging these guys for back-office support...

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords 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 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!

Re: FIRECalc used by financial advisors!
Old 10-23-2005, 06:21 AM   #2 Founder
Developer of FIRECalc
dory36's Avatar
Join Date: Jun 2002
Posts: 1,834
Re: FIRECalc used by financial advisors!

Yeah -- I was thinking about charging a mere 1/2% of the portfolio value... or 3/4% if I have to fudge the results to fit the advisor's preferred outcome...
Often uninformed, seldom undecided.

Twenty years from now you will be more disappointed by the things you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover. Mark Twain
dory36 is offline   Reply With Quote
Re: FIRECalc used by financial advisors!
Old 10-23-2005, 06:46 AM   #3
Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 2,234
Re: FIRECalc used by financial advisors!

Originally Posted by dory36
Yeah -- I was thinking about charging a mere 1/2% of the portfolio value... or 3/4% if I have to fudge the results to fit the advisor's preferred outcome...
A bit greedy. don't you think.
I figure there could be 100's of FP controlling billions of $. Let's see, $10 billion * 1/2% = $50 mil
Of course, if you plan to share with your core loyal forum members, I'll take "my" $100k in $20s. I need some loose change.
I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote

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
2 financial advisors' plans for my MIL - need some better advice WM FIRE and Money 9 05-15-2007 12:56 PM
Financial Engines vs. FIREcalc tlockwood FIRE and Money 12 05-06-2007 09:07 PM
Financial advisors virginia Other topics 2 01-23-2006 08:24 AM
Scott Burns answers financial advisor's Vanguard questions Nords FIRE and Money 19 12-04-2005 12:11 AM
Financial advisors: "We're here for you!" Nords FIRE and Money 20 09-20-2005 09:12 AM

» Quick Links

All times are GMT -6. The time now is 03:30 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.