So, this retirement thing

[StuP]

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..

Not to be obvious, but there's a margin between none and enough to max out everything.

 

[Eggmanmja01]

Sorry to hear of your unfortunate situation and I wish I knew someone to help and give you solid advice.
First place to start is with your monthly income verse bill ratio. Whomever you go to seek help, they need to know this along with your current retirement savings.

 

[whitmo]

Have you checked with your bank or credit union? Some have free financial planning services.

 

[jpm2953]

Not to be obvious, but there's a margin between none and enough to max out everything.

everyone keeps preaching maxing out 401k and IRA. Who has that much spare money?? I need a new career

 

[Bagman]

everyone keeps preaching maxing out 401k and IRA. Who has that much spare money?? I need a new career

If you can't max it out, save as much in there as you possible can. I promise you won't regret it.

 

[Bagman]

Been with Fidelity for years. Meet with one of their advisors.

Here's what you'll need to know:

Current savings
All sources of income, current and anticipated
Monthly obligations/bills/morgage/gas/insurance
Expected monthly Social Security payout based on when you will start collecting (you can request a statement from the SS Admin with those details if you don't already have one)
Will you plan to work part-time after retirement?
Expected monthy obligations once you retire (normally lower since your job commuting costs are eliminated/less, you don't typically spend as much on a monthly basis)

Based on this info, they can help you put together a plan

 

[DirtySouth]

everyone keeps preaching maxing out 401k and IRA. Who has that much spare money?? I need a new career

Well, do you have any vices? I won't preach to anyone but I am able to max mine out because I don't spend it elsewhere.

 

[jpm2953]

Well, do you have any vices? I won't preach to anyone but I am able to max mine out because I don't spend it elsewhere.

no. I live within my means. No car payments. $180,000 house. Just don’t make much money

 

[fastfish66]

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......

Vote a dem for President,sit back and relax. They will provide everything you will need in your short life.

 

[RiverBend]

he will tell you that you need between 2 and 5 million in the bank. That doesn’t work for everyone.

not necessarily true for all, especially if
House /property all paid off
Vehicles all paid off
nothing coming in bill wise except utilities/essentials
credit cards paid off when the bill comes in
a nest egg of a min of 200K for occasional fun/unexpected stuff
income of SS/retirement funds/pensions, etc exceeds outgo by 50%
then you don't need 1 or 2 Million to live comfortably, not cruising round the world often, but comfortable