Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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#17
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Avoid annuities and anyone pushing them. They are not looking out for you. Also do a “broker check” on them. Google it.
Last edited by STLRAY; 03-25-2021 at 10:58 AM. |
#18
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Unfortunately most people will not devote the time and effort to understand how to take care of their money and rely upon others sometimes with devastating effect.
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#19
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#20
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__________________
"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine Last edited by manaboutown; 03-25-2021 at 01:25 PM. |
#21
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I am going to say that a Fidelity CFP is not a fiduciary but has a commission of assets under management. Now this is from long time fidelity managers who have left fidelity and i have worked with at my current employer(more than one). One of them was a colleague in my finance department and told me of inside stories within fidelity as well as his financial advisor from Fidelity and his response to certain questions. I have also seen some of Fidelity's AI recommendations, and I don't necessarily agree with 100% stocks for a new retiree.
Therefore, I would 100% recommend an independent fee only advisor, who actually will give you an excel model and provide different ETFs or mutual funds with expected capital gains returns and income returns. I want to take the CFP exam prior to relocating so that I can legally provide recommendations along with a model for you to manage your expected incomes, taxes, etc. as income and taxes etc can be a huge mystery for certain personality types. finance sportsguy |
#22
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And eventually the money in your mattress will run out. We'll have an unlimited stream until both my wife and I are dead. We have no children or siblings so it won't really matter what happens after.
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#23
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Although we don't use Fidelity we use another national company and have for 25 years. We were able to retire earlier than we would have had we not had them manage our money.
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#24
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Whatever you do, please do not get conned into a reverse mortgage by our local high pressure salesman!
__________________
"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#25
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I got screwed so bad the first time I let an advisor deal with my investments. Lost a third of my savings. I decided to educate myself and do my own investing. Ignorance is not bliss when it comes to letting people use your money for their own greed or carelessness.
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#26
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Unlimited?????....................request your monthly payment to double, see how unlimited your stream is.
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Identifying as Mr. Helpful Last edited by dewilson58; 03-26-2021 at 07:26 AM. |
#27
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There are several things in all these replies that may or may not be good advise. I will list what I would advise and I have been doing my own and helping others for a long time.
NO to annuities. They tie up your money, significantly increase your risk and reward the person selling it to you with your money. Estate planning is good advise and I use Amy Pittman. She is very good. NO to banks. Commissions are high, products are expensive and returns are usually lower then available. I would contact Vanguard, Fidelity, and Schwab and ask them for a basic investment plan. Make them explain all costs and fees. Using any of those 3 will give you a low cost investment plan. Personally I use Vanguard and my total investment fee’s run about 1/10th of a % a year. Most advisors will charge you 1.5% or more each year plus trading costs. Index funds are your friend. Cost is low, risk is low and returns will typically beat the market. But talk to all 3 and make a decision who you are most comfortable with. Make them explain costs, risks, and expected returns. All 3 have very low cost low risk index funds that can be used to build a very diversified plan. PM me if you have any questions and I will help you any way I can. I have managed my own for over 35 years and have been very happy with my returns.
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Life is to short to drink cheap wine. |
#28
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#29
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Check out Creative Planning they are also a fiduciary investment company with a great business model. We also used them to set up our Revocable Trust.
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#30
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