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So, this retirement thing

Thread in 'Finance / Investing' started by StuP, Jan 24, 2020.

  1. StuP

    StuP The Hen that laid the Golden Legos Supporter

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    It seems my working life may be somewhat shorter thank expected, (not a good thing).

    Can anyone provide any guidance on finding a retirement planner with experience of helping people in a "close to retirement / few assets" situation ?

    I know, I know, I doubt even Walmart will employee me when the time comes, so preparing for the worst......
     
  2. Mister Heavyhand

    Mister Heavyhand ODT Junkie!

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  3. StuP

    StuP The Hen that laid the Golden Legos Supporter

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    Thanks, really looking for a local fee based planner with a proven track record. Lots of 'how to' guides out there, not so much on real life feedback.
     
  4. Outlier

    Outlier Frontiersman Supporter

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  5. Greybeard

    Greybeard Frontiersman

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    Best advise, you.

    Make a list of what you owe and what you have. Make a budget and see what it cost you to live one in a month vs what you have coming in.

    I retired in 2012, have not looked back. You would be surprised (if you make a budget) and see what you need to live on.

    A cfa will tell you to do the same and tell you to come back in a month. At that time he will tell you that you need between 2 and 5 million in the bank. That doesn’t work for everyone.
    If you use fidelity as a ira or 401k they have a good planner to use and plug in the numbers. I think it is also free to use online without a account. That would give you some hard core numbers without any cost. Then decide if you need to use a cfa. Just a thought and it doesn’t cost anything.
     
    jmartinroe and BillsCamino like this.
  6. Lightfoot

    Lightfoot Survivalist

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    Vanguard.com. Max out all your allowed retirement contributions until retirement (401k, IRA, Roth IRA). Many retirement planners take a fee which will take from your funds. You can do it yourself.
     
  7. Bagman

    Bagman Dental Floss Tycoon Supporter

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    Doesn't cost anything to sit down with a Fidelity advisor. They'll help you get a plan together.
     
  8. StuP

    StuP The Hen that laid the Golden Legos Supporter

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    A fine strategy, but does rather presuppose the disposable income's available to implement ;)
     
  9. StuP

    StuP The Hen that laid the Golden Legos Supporter

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    Certainly worth investigating.
     
  10. jeep78

    jeep78 The Hen that laid the Golden Legos Supporter

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    Not being smart, but if you have no disposable income, there is really no planning to do, other than learning what social programs you qualify for..
     
    Smoothie likes this.