[NedFlanders]

Fidelity is a good choice. There are lots of us who do the same thing, including early retirees like me, and it works well. A bonus with Fidelity is that they have investor centers where you can walk in and ask questions, which is something that other low fee brokerages like Vanguard lack.

If you are planning to retire at 57, managing healthcare costs will be one of your biggest challenges. Start reading up on the ACA rules, especially on the premium subsidies that scale with your income. Keeping your taxable income / MAGI low while on the ACA is the right approach, so study up on how withdrawals from the various accounts impact MAGI and thus your ACA costs.

You mentioned Bogleheads...if you don't already know, they have a good forum with people that are really good with finances. Recommend you consider posting there as well to get feedback on your financial plan.

[RoboVil]

Ameriprise convinced my wife to buy an insurance product just as she was about to retire tying up the assets for 10 years. Had to take it out and lose some of the principal and invest it (best decision ever). So, I don't trust Ameriprise at all. The company should have stopped the agent from doing this.

[MrFlorida]

Retiring before age 65 means no Medicare insurance... Health insurance is very costly, hope you figured that in to early retirement.

[BuyckCabin]

Yes. I’ve got one account that’s SGOV.

[BuyckCabin]

Originally Posted by NedFlanders

Fidelity is a good choice. There are lots of us who do the same thing, including early retirees like me, and it works well. A bonus with Fidelity is that they have investor centers where you can walk in and ask questions, which is something that other low fee brokerages like Vanguard lack.

If you are planning to retire at 57, managing healthcare costs will be one of your biggest challenges. Start reading up on the ACA rules, especially on the premium subsidies that scale with your income. Keeping your taxable income / MAGI low while on the ACA is the right approach, so study up on how withdrawals from the various accounts impact MAGI and thus your ACA costs.

You mentioned Bogleheads...if you don't already know, they have a good forum with people that are really good with finances. Recommend you consider posting there as well to get feedback on your financial plan.

Yep. MN offers reasonable healthcare to all MN residents. Or my wife’s plan if she keep working.

[BuyckCabin]

Originally Posted by Nordhagen

You know they like to riot in Minnesota, don’t you?

In the community I'm from and the surrounding communities. Those types of people are met with the loud end of a firearm. Plus where I'm going, it's really easy for a person to get lost and never be heard from again. We don't seem to have those problems in my area of MN.

[Nordhagen]

Originally Posted by BuyckCabin

In the community I'm from and the surrounding communities. Those types of people are met with the loud end of a firearm. Plus where I'm going, it's really easy for a person to get lost and never be heard from again. We don't seem to have those problems in my area of MN.

I agree. Other than Mpls and the Diluth area, Minnesota has some fine upstanding folks. Unfortunately, the big population centers keep electing the same buffoons.

[MrFlorida]

I thought everything was free in Minnesota ?

[BuyckCabin]

Originally Posted by MrFlorida

I thought everything was free in Minnesota ?

As a kid, there was a billboard at a prominent intersection.

"MN Land of 10,000 taxes, but the welfare is good."

[BuyckCabin]

.
.
.

[BuyckCabin]

Originally Posted by NedFlanders

Fidelity is a good choice. There are lots of us who do the same thing, including early retirees like me, and it works well. A bonus with Fidelity is that they have investor centers where you can walk in and ask questions, which is something that other low fee brokerages like Vanguard lack.

So for free or even a reasonable flat fee. If I have a tax question regarding how to spend my various retirement accounts. I can call or walk into Fidelity and have a conversation and get valuable guidance?

[CoachKandSportsguy]

Originally Posted by BuyckCabin

Gotcha. I never understood the secrecy with money.
1. I’m anonymous.
2. Nobody cares about my money.
3. The only way someone can truly help is to have details.

LOL!

1) no you are not anonymous, you think your "BuyckCabin" is anonymous, but its not. Its called tracking cookies, linked with other accounts ON YOUR PC which you also use..
2) Scammers care about your money, you can become a mark. . .
3) Details are for trusted relationships. . you don't have any here on TOTV


Now to your point about retirement.

you do not have enough to retire yet, especially at 62. . .

taxes are the least of your problem. .

I have a 20 year financial plan excel model, with taxable / not taxable, taxes, SS,

The whole key is:
what's your current expected cost of lifestyle when retired, annually, all in, including
saving for a new car
saving for new appliances
saving for house maintenance
total home expenses: property taxes, utilities, insurance, other, misc
total car expenses: mileage related maintenance, insurance
total food expenses: groceries, eating out,

discretionary spending:
holidays, travel, children gifts,

itemize them all,
then increase all costs by 5% per year, all of them, this is a higher inflation figure than the recentUS average, which means its conservative estimate.
and see what the total is by the time you are 70

then calculate your assets appreciation value, using equity at 8% per year,
no fixed income appreciation, but average 3% per year interest/dividend income for your fixed income investments. .

look back at history, and find all your investments biggest drawdowns. .
and insert that somewhere into your future asset growth stream. . but don't expect your assets to recover all of that the next year, still compound at the long term average of 8% (this is called stress testing your investment future)


so, i can jam all this into my excel model for you, and then send it back to you to play with. If you would like that, please PM me your email, I can send you a heigh end estimate, using just the figures here for income, and then we can have a call if you want. . or not, and you can have the excel model..

my wife's cousin and his wife used it, and made a basic mistake by listening to their financial advisor. . I pointed it out, they understood the issue, but at least they can put the numbers in and see what the decision means. .

But remember:

there are only two choices:
1) you fund assets to support a cost of lifestyle,
2) you are forced into a cost of life style by your assets

the only other alternative is an evergreen lottery ticket of numbers which have not been picked.

my offer, others have taken it up. .

now go delete all your personal money numbers

[kingofbeer]

Originally Posted by BuyckCabin

In the community I'm from and the surrounding communities. Those types of people are met with the loud end of a firearm. Plus where I'm going, it's really easy for a person to get lost and never be heard from again. We don't seem to have those problems in my area of MN.

Brilliant. You sound like a hillbilly from the north country.

[BuyckCabin]

Originally Posted by kingofbeer

brilliant. You sound like a hillbilly from the north country.

and proud of it!

[kingofbeer]

Originally Posted by BuyckCabin

As a kid, there was a billboard at a prominent intersection.

"MN Land of 10,000 taxes, but the welfare is good."

if you don't like it there - Move to Mississippi .