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Old 01-08-2017, 12:21 AM
Location: Wisconsin
671 posts, read 1,227,590 times
Reputation: 706


Originally Posted by elliedeee View Post
Hubby and I are going to see a retirement analyst/specialist tomorrow...

Are there any questions we should be asking him about our retirement other than can we afford to live? Any advice?

He comes highly recommended and is familiar with my husbands city job so he's familiar with the pension plan etc,

I've heard some horror stories about financial guys taking a percentage but this guy charges a flat fee for this consultation.

We don't plan on signing anything or moving any of our funds during our visit with him but we will take any suggestions he offers and check them out.

I won't be around til later to answer any questions if anyone has any but I look forward to your input.

What are his qualifications? I would only work with a certified financial planner(CFP).
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Old 01-08-2017, 03:25 AM
71,511 posts, read 71,674,131 times
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keep in mind that today retirement planning can be a minefield . everything gets linked to retirement income . social security being taxed , what you pay for medicare , rmd's , aca subsidy's while waiting for medicare age ,use of zero capital gains brackets , surcharges , etc , etc .

throw in low interest rates and an unpredictable stock market and current research has shown that using more integrated strategy's are a much better idea . combo's of single premium immediate annuity's , your own investing and tax free life insurance ploys are far more likely to succeed under a wider field of outcomes then just you and the markets going at it alone shouldering all the risks .

which leads me to the next point . VERY FEW ADVISERS ARE SKILLED IN THE 2ND HALF OF THE GAME .

most grew up with the baby boomers and only know the first half of the game , the accumulation stage . they run on old myth's ,research shown to be wrong and old thinking when it comes to the 2nd half of the game which is the decumulation stage ..

in my search for our own adviser i found fee only to be the worst over all .

many were not up on the latest research because they lacked the education and certifications in a lot of different products .if they had the credential's and education to sell other products they may not be fee only .

so in my experience i gave the fee only guys we researched an "F" . they were to far behind the times in their ideas and lacked the knowledge and ability to really put a good solid integrated strategy together

the guy we found the most knowledgeable in the 2nd half was the commissioned adviser we bought our long term care insurance from .

we worked out a fee only deal with him to pay him for his time . it was only by chance we were interested in a nys partnership plan for long term care and he handled them .

so the word to the wise is while fee only can be a good thing in the first half of the game , the accumulation stage , it may end up a poor choice in the 2nd half of the game if they are not up on all the latest research and study's .

in fact ,very easy test . ask them what they think of michael kitces . michael is one of the most well known , well respected retirement researcher's in the industry today . if the adviser says who ? get another adviser .

Last edited by mathjak107; 01-08-2017 at 03:43 AM..
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Old 01-08-2017, 07:32 AM
Location: The sleepy part of New York City
1,945 posts, read 1,203,775 times
Reputation: 4317
thanks guys..

We're heading out for our appt. now.... which I'm sure will bring up more questions so please don't go anywhere.. Lol
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