HFWR
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DIY
Seeking ER this year (actually 5 weeks away) I too may end up using a FP to verify my AA and FI. All tools indicate I should be in great shape, but a second opinion may help my sanity.
Although the biggest challenge I would like answers from a FP is on the strategy in taking the money out. This is vastly different than the accumulation stage. Given the tax implications, SS strategies, when to take pension, etc this part to me seems pretty complex and something I don't want to mess up on.
Although the biggest challenge I would like answers from a FP is on the strategy in taking the money out. This is vastly different than the accumulation stage. Given the tax implications, SS strategies, when to take pension, etc this part to me seems pretty complex and something I don't want to mess up on.
The first misstep was going to an insurance agent and a stock broker for advice.
When she mentioned this & suggested switching to Vanguard her boss discontinued the 401k plan! No more company match...
Since then we've kept our mouths shut, and done our own planning.
I think this is excellent advice. Our tax preparer provides it & has saved us way more than he costs. A big thing is taking LTCG and keeping them taxed at 0% Fed tax rate - below ~$72K taxable income. Minimizing other income helps accomplish this. Note that we use a FA too, but that's pretty immaterial to this issue.Seeking ER this year (actually 5 weeks away) I too may end up using a FP to verify my AA and FI. All tools indicate I should be in great shape, but a second opinion may help my sanity.
Although the biggest challenge I would like answers from a FP is on the strategy in taking the money out. This is vastly different than the accumulation stage. Given the tax implications, SS strategies, when to take pension, etc this part to me seems pretty complex and something I don't want to mess up on.
Hey, I was young (21), fresh out of college, and these folks were recommended by one of my brothers . At least I made that mistake early in life while I was single. Its been all uphill since then.
Tried that for one year with the upfront understanding that if the net growth did not surpass the S&P 500 he would loose my business. Was told that this would not be a problem based on his past performance. I was his customer for 1 year.Curious how many on this blog used financial planners versus did their planning themselves? What did you do?
I explored fee-only financial planers through napfa, but all (three) of the local ones I called wanted "percent of assets under management". I said "What!?! I want a couple hours of your time and you want to charge me ten grand?"