Greetings from Texas (Y'all)!
Found the forum a few days ago and have enjoyed it, been somewhat educated by it, but mostly baffled with the amount and depth of financial info that's way over my head. I know that in time, I'll learn a little by osmosis.
Question coming, but here are the bullets:
1. DW is 58 and taking ER from education at the end of August
2. I'm 62 and started 'what iffing' when she announced she was done with work
3. I've run the numbers, including Firecalc, and they seem to say we'll be ok for me to pull the pin at the end of this year.
4. We have 2 pensions, my SS and a 401k, and a couple of 457b's.
I know with my traditional investments through a financial advisor there have always been sales charges to buy and fees to pay along the way. I've never been able to crack the secret codes on how to research the actual numbers other than the upfront sales charge that I'm told is a one-time charge to play the game.
Now Dumb Question #1 (I'm going to start numbering them, 'cause there will be more)
DQ#1? When we start to draw down on the annuities, will we be paying additional fees, surrender charges or other hidden tolls, gratuities or ransoms to Franklin Templeton, Hartford, Great Western or the other financial gangs.... and if so, how in the world do I get straight answers or mitigate those handouts?
Thanks in advance for your input... If I can finally figure out the rules of the game they are playing, I think I can make an informed decision to go self-directed and play in a different way.
Found the forum a few days ago and have enjoyed it, been somewhat educated by it, but mostly baffled with the amount and depth of financial info that's way over my head. I know that in time, I'll learn a little by osmosis.
Question coming, but here are the bullets:
1. DW is 58 and taking ER from education at the end of August
2. I'm 62 and started 'what iffing' when she announced she was done with work
3. I've run the numbers, including Firecalc, and they seem to say we'll be ok for me to pull the pin at the end of this year.
4. We have 2 pensions, my SS and a 401k, and a couple of 457b's.
I know with my traditional investments through a financial advisor there have always been sales charges to buy and fees to pay along the way. I've never been able to crack the secret codes on how to research the actual numbers other than the upfront sales charge that I'm told is a one-time charge to play the game.
Now Dumb Question #1 (I'm going to start numbering them, 'cause there will be more)
DQ#1? When we start to draw down on the annuities, will we be paying additional fees, surrender charges or other hidden tolls, gratuities or ransoms to Franklin Templeton, Hartford, Great Western or the other financial gangs.... and if so, how in the world do I get straight answers or mitigate those handouts?
Thanks in advance for your input... If I can finally figure out the rules of the game they are playing, I think I can make an informed decision to go self-directed and play in a different way.