U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-03-2019, 04:23 PM
 
6,284 posts, read 4,740,348 times
Reputation: 12889

Advertisements

Planning for retirement is a lot more than just saving up some money to take trips.

Anyway this whole thread seems sort of pointless. The OP just did not like or trust the financial advisor and seems to want to vent. There is nothing unique about mistrust for an advisor. Even very competent advisors might not click with every potential client.
Reply With Quote Quick reply to this message

 
Old 07-03-2019, 06:16 PM
 
Location: USA
1,099 posts, read 376,665 times
Reputation: 907
Quote:
Originally Posted by Dad01 View Post
Hello
I'm asking this question as in the last yr I met twice with a "retirement planner" ( which was offered through my job) and apart from the usual investing/stocks talk they kept asking me about retirement goals.
When stated my goals are like follows
1-be in the best health i can be so i can take care of my grandkids
2-live close to my kid and siblings
3-maintain a modest house and have a paid off car
4-Maximize my SS benefits

The financial planner got condescending and tried to make me feel guilty for aiming too low and not enjoying my "golden years" and was really surprised that I did not want to travel and see the world.

Now I'm 40 and So I'm assuming ( if I'm healthy enough ) I will work full time till 65 yrs of age. I travelled a bit in my younger yrs and still I have a couple of places I want see in my life ( but Ive already saved for it and have a definite timeline when to visit them and it will be well before I'm 55).

I feel like not everyone had a wanderlust and not everybody wants to hang out in a beach resort with a margarita all day and go gambling.It seems to me that the planner was about to pitch me some unscrupulous retirement plan /managed funds, and was wooing me by presenting this rosy picture of retirement .So I got a little snippy and left.

But it got me thinking am I underestimating or not anticipating a mid-life crisis or retirement blues that seniors face and that is why they travel so much ? or is it just highly variable ? And thoughts , ideas appreciated

p.s My parents unfortunately did not save much for retirement but they put 3 of their kids to college w/o loans so it turned out to be an excellent retirement plan for them as they lived with us until they passed.So their example is of not much help

Good plan but note, they keep raising the retirement age for SS


Good luck
Reply With Quote Quick reply to this message
 
Old 07-03-2019, 06:23 PM
 
2,240 posts, read 553,474 times
Reputation: 3913
Quote:
Originally Posted by Clemencia53 View Post
Now i have thought about going to Antarctica - but then i see how destructive those trips can be to that environment - and maybe not. Destructive might be too harsh of a word.
I did an Antarctica trip. It wasn't destructive at all. "Take nothing but pictures; leave nothing but footprints." I got my passport stamped "British Antarctic Territory" which at the time was pretty cool.

Be prepared to be seasick.
Reply With Quote Quick reply to this message
 
Old 07-03-2019, 06:45 PM
 
6,323 posts, read 5,064,142 times
Reputation: 12848
Quote:
Originally Posted by RationalExpectations View Post
I did an Antarctica trip. It wasn't destructive at all. "Take nothing but pictures; leave nothing but footprints." I got my passport stamped "British Antarctic Territory" which at the time was pretty cool.

Be prepared to be seasick.
Ok - will put it back on my list. I did view some videos about the crossing.
Reply With Quote Quick reply to this message
 
Old 07-03-2019, 06:48 PM
 
Location: Loudon, TN
5,788 posts, read 4,843,885 times
Reputation: 19489
Quote:
Originally Posted by Dad01 View Post
Hello
I'm asking this question as in the last yr I met twice with a "retirement planner" ( which was offered through my job) and apart from the usual investing/stocks talk they kept asking me about retirement goals.
When stated my goals are like follows
1-be in the best health i can be so i can take care of my grandkids
2-live close to my kid and siblings
3-maintain a modest house and have a paid off car
4-Maximize my SS benefits

The financial planner got condescending and tried to make me feel guilty for aiming too low and not enjoying my "golden years" and was really surprised that I did not want to travel and see the world.

Now I'm 40 and So I'm assuming ( if I'm healthy enough ) I will work full time till 65 yrs of age. I travelled a bit in my younger yrs and still I have a couple of places I want see in my life ( but Ive already saved for it and have a definite timeline when to visit them and it will be well before I'm 55).

I feel like not everyone had a wanderlust and not everybody wants to hang out in a beach resort with a margarita all day and go gambling.It seems to me that the planner was about to pitch me some unscrupulous retirement plan /managed funds, and was wooing me by presenting this rosy picture of retirement .So I got a little snippy and left.

But it got me thinking am I underestimating or not anticipating a mid-life crisis or retirement blues that seniors face and that is why they travel so much ? or is it just highly variable ? And thoughts , ideas appreciated

p.s My parents unfortunately did not save much for retirement but they put 3 of their kids to college w/o loans so it turned out to be an excellent retirement plan for them as they lived with us until they passed.So their example is of not much help
Retirement blues? What in the world is that? Almost every retiree I meet is thrilled not to have to work anymore. Now there are a few exceptions, those who were involuntarily retired, or who identify so strongly with their work, and enjoyed it so much that they miss actually miss either the actual job duties, or the daily structure and personal engagement with their co-workers or customers. For the rest of us, that is the vast majority of retirees, blues is not a word in our vocabulary. What people want to do, and where they want to do it, ARE highly variable. Thank goodness. If everyone wanted the same place, and the same activities, that would be a problem.

You've got a long way to go, and 25 years to think about it. Your advisor was just trying to gauge what you were hoping to achieve with your investments, and asking your "goals" in retirement was his way of getting at how much money you're going to need to accomplish that to help him figure out how best to invest with/for you.

Some people's goal is a paid off home in the country and a quiet life. Others might wish for world travel, or a home in one town, and a snowbird condo down south. It's completely variable.
Reply With Quote Quick reply to this message
 
Old 07-03-2019, 10:09 PM
 
Location: Forests of Maine
30,687 posts, read 49,469,539 times
Reputation: 19134
Quote:
Originally Posted by Dad01 View Post
she offered me nothing other than what is already common knowledge about investing. I never said I do not desire more wealth if I can legally get it from my retirement

But I take issue when
1- she looks down upon how i want to spend /use that wealth
2- her claim that she somehow has some magic formula that can save me hundreds of thousands
3- also her assumption that everyone will be in great health to scuba dive, sky dive etc
This advisor is not retired herself. So she has no idea what a happy retirement is.

There are hundreds of magazine articles written on this topic. So she read six of those articles, and now she has an opinion. That does not make her opinion any better than anyone else who has not done it.

If she was advising you to invest in any fund that she is connected to than she was only looking out for her own commission fee.
Reply With Quote Quick reply to this message
 
Old 07-04-2019, 07:48 AM
 
6,284 posts, read 4,740,348 times
Reputation: 12889
Quote:
Originally Posted by Submariner View Post
This advisor is not retired herself. So she has no idea what a happy retirement is.

There are hundreds of magazine articles written on this topic. So she read six of those articles, and now she has an opinion. That does not make her opinion any better than anyone else who has not done it.

If she was advising you to invest in any fund that she is connected to than she was only looking out for her own commission fee.
I am not sure where you came up with any of this. According to the OP, the advisor painted a picture of retirement that the OP did not like. It seems likely the advisor was merely trying to stimulate some interest in saving for retirement, which has been a big problem for many people.

Here is what the OP wrote: "I feel like not everyone had a wanderlust and not everybody wants to hang out in a beach resort with a margarita all day and go gambling.It seems to me that the planner was about to pitch me some unscrupulous retirement plan /managed funds, and was wooing me by presenting this rosy picture of retirement .So I got a little snippy and left."

We only hear one side of the story here but to my way of thinking none of this seems to indicate that the advisor was unscrupulous or incompetent or was even trying to push opinions about what the OP should do in retirement. When someone comes on the internet to complain about an advisor who presented a rosy picture of retirement, I have to think something is wrong with that person's emotional stability. Getting snippy and not even listening is another red flag. Just because someone posts their story here does not mean they have a lick of sense. I just do not understand why the OP would come here to complain about an advisor when they did not even listen to their recommendations.
Reply With Quote Quick reply to this message
 
Old 07-04-2019, 08:51 AM
 
Location: Ypsilanti, MI
2,449 posts, read 3,668,587 times
Reputation: 4820
Be prepared for life's curveball. My wife and I had a goal identical to your goal #1. Our oldest son and his wife cannot have children. They both dreamed of being parents and spent countless hours in discussions with fertility and genetic specialists, but it is not to be. Our youngest son and his fiancee are still not married (or even living in the same State) and are both approaching 40. So our Grandchildren expectation will never be met.

Keep your goals flexible to match what life gives you!
Reply With Quote Quick reply to this message
 
Old 07-04-2019, 09:07 AM
 
563 posts, read 126,592 times
Reputation: 1172
Quote:
Originally Posted by Dad01 View Post
she offered me nothing other than what is already common knowledge about investing. I never said I do not desire more wealth if I can legally get it from my retirement

But I take issue when
1- she looks down upon how i want to spend /use that wealth
2- her claim that she somehow has some magic formula that can save me hundreds of thousands
3- also her assumption that everyone will be in great health to scuba dive, sky dive etc
Then you probably want to find a new advisor, a fee only advisor that is objective and takes your goal into consideration when mapping out a plan.
Reply With Quote Quick reply to this message
 
Old 07-04-2019, 10:11 AM
 
7,245 posts, read 8,652,603 times
Reputation: 9142
When you meet with any financial planner and they talk about retirement (goals or whathaveyou), make some up if you don't have any. No one will hold you to them.

Say things like, "I want to take trips to wherever in the world I might want to go, 2 or 3 times a year." No one's going to check that you aren't actually sitting on the couch visiting your kids.

Or say, "I want to be able to purchase a vacation home or 2nd home or 50ft sail boat" or "I want to buy a new car every 4 years."

It will give the retirement finance person something to ponder, which makes for a smooth conversation. The point is you'll need $$$ in retirement for whatever, even if you do nothing much at all, so make it easy on yourself and let them crunch some numbers.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top