- Joined
- Nov 27, 2014
- Messages
- 9,201
I told DW that I would be flogged for telling the forum this, but today I signed off on a FA. We will move basically everything to Raymond James (RJ). This FA is paid on a percentage of our investments under management but is not connected with RJ. They are a fiduciary and came highly recommend to me by two previous bosses of mine who are also retired and using this FA.
One of the oddest things regarding the recommendation is that these are two very frugal people. I've never known either of them to waste money. Money they both have plenty of. However, they both feel it's worth it. Their main reason for the FA and one that I have come to share, is that they don't want to have to think as much about the finances. That's not to say that I don't know what's going on now or that I won't know what's going on in the future, it just will not be something I need to concentrate on.
From another point of view, and the main reason I engaged the FA, I want help making good decisions. True, I could research and understand things like whether to take my pension or a lump sum, when to take SS, how to handle a ROTH . . ., but it's a lot of work that I just don't want to do any longer. This FA (a group, not just one person) has great tools and has already been very helpful. The members of this forum have been equally helpful and for that, I'm thankful. It was certainly easier to accumulate than to spend down and make the accumulated money last. I figured that if I'm not happy, I can always cancel the engagement, but so far, I'm happy with them.
Well, that's my update for today. Today, about 9 months into retirement (sort of - I'm on my severance package until 2/1/2019), I handed over the bulk of the work for my finances to a FA. Go easy on me.
One of the oddest things regarding the recommendation is that these are two very frugal people. I've never known either of them to waste money. Money they both have plenty of. However, they both feel it's worth it. Their main reason for the FA and one that I have come to share, is that they don't want to have to think as much about the finances. That's not to say that I don't know what's going on now or that I won't know what's going on in the future, it just will not be something I need to concentrate on.
From another point of view, and the main reason I engaged the FA, I want help making good decisions. True, I could research and understand things like whether to take my pension or a lump sum, when to take SS, how to handle a ROTH . . ., but it's a lot of work that I just don't want to do any longer. This FA (a group, not just one person) has great tools and has already been very helpful. The members of this forum have been equally helpful and for that, I'm thankful. It was certainly easier to accumulate than to spend down and make the accumulated money last. I figured that if I'm not happy, I can always cancel the engagement, but so far, I'm happy with them.
Well, that's my update for today. Today, about 9 months into retirement (sort of - I'm on my severance package until 2/1/2019), I handed over the bulk of the work for my finances to a FA. Go easy on me.