Brother needs help

[bigla]

Hi, long time lurker. Hope all are healthy during these crazy times.
My brother is 67 and still working out of necessity but would like to retire. He is great at assessing his financial situation. He is in San Diego area looking for an advisor who basically would do a FIRE assessment with him in order to provide him with facts and reality of his situation and when he could retire safely. He is not looking for someone to manage his IRA's, etc. Does anyone know of such a thing in the San Diego area. I am on other side of country.
I will definitely try to get him to join the group.
Thanks in advance for any help.

 

[DrRoy]

Try searching NAPFA: The National Association of Personal Financial Advisors for a fee only advisor that would be close to him.

 

[Helen]

Try searching NAPFA: The National Association of Personal Financial Advisors for a fee only advisor that would be close to him.

And make sure when they say fee only it means by the hour or by the task and not AUM.

 

[Helen]

The Garrett Planning Network has fee only FAs who work by the hour or task. I went to one who had just passed her CFP exam and also had a JD. The report was so filled with errors that I received a full refund. Hopefully she wasn't representative of their planners.

https://www.garrettplanningnetwork.com/about/

 

[pb4uski]

Have you tried running his situation through FIRECalc?

 

[mrfeh]

Have you tried running his situation through FIRECalc?

+1

First step is understanding his expenses and income. If he's done that, he should be able to take a shot at this himself.

 

[Chuckanut]

Consumer show host Clark Howard has often recommended somebody from the Garret Planning Network. Fee only and preferably a fiduciary.

I have never used Garret and cannot vouch for them or any advisor. I'm just passing on what I have heard on his podcasts and shows.

You might ask for an advisor with more experience than Helen's. Just a thought.

 

[Sunset]

Hi, long time lurker. Hope all are healthy during these crazy times.
My brother is 67 and still working out of necessity but would like to retire. He is great at assessing his financial situation. He is in San Diego area looking for an advisor who basically would do a FIRE assessment with him in order to provide him with facts and reality of his situation and when he could retire safely. He is not looking for someone to manage his IRA's, etc. Does anyone know of such a thing in the San Diego area. I am on other side of country.
I will definitely try to get him to join the group.
Thanks in advance for any help.

Hope he joins, to help his thinking about retirement.
At 67 he has missed the E part. So he could possibly Financially Independent Retire (FIR).

I also recommend FIRECALC.
For a simple view he can just look at his savings and take 3.8% of that number, add it to his SS and pension? To see if that is more than his spending.

Finally, he should be tracking his spending to the penny so he knows exactly how much he actually spends each year. Without that it's all just a guess.

 

[WyomingLife]

So he could possibly Financially Independent Retire (FIR).

I make a motion we inaugurate the acronym FIR TREE (Financially Independent Retire, Thoroughly Relaxed, Enjoying Everything).