Any suggestions on a great financial / retirement professional in The Villages?
 

Moving to The Villages and need a new Financial / Retirement professional ? I have worked with Merrill / Goldman in the past but looking for a local more personal experience going forward. Thanks all !

I am DIY as I do not want to pay someone a huge percentage of my investment income for essentially nothing. Be wary, very wary, of sharks.

Check out the Clubs section. There must be at least one club for that?

Be very careful

I would suggest Fidelity. They have a local office at Lake Sumter. You can be a DIYer or get professional help as needed. I think they will also track all of your stocks and other investments in one brokerage account.

If you have someone now, and you trust them...................talk to them now, before you leave. Tell them your plans, get advice from them about how you are positioned now (probably fine going forward) and stay in contact with them via phone, zoom, etc.

There are good individuals down here..............but they all want $$$$.
Stay away from the annunity sellers down here.

Good Luck

I've been thinking about the same thing. I've been a do-it-yourselfer all my life and through dumb luck have done pretty well with it.

I'm thinking about getting an outsider involved and it's a pretty scary proposition, especially since the term fiduciary seems to have been watered down or redefined a little.

I've used citi gold wealth management a little bit I don't think that's the real deal.

My obligatory post to anyone seeking investment advice.

Take time to read Paul Merriman’s 3 FREE ebooks.
1. First-Time Investor
2. 101 Investment Decisions
3. Get Smart or Get Screwed (read this first!)

Found at paulmerriman.com

Also on his site are recommended portfolios for using Vanguard, Fidelity, T.Rowe Price or Schwab for DYI'ers. Much good info, ignore the puffery and sales pitches.

If you do want to know too much about annuities, listen to Stan The Annuity Man® | Brutally Honest Facts About Annuities podcasts.

Podcast - Have Fun With Annuities(R) | The Annuity Man

Last recommendation is FIRECalc: A different kind of retirement calculator , a Monte Carlo simulation of your future.

FWIW

I am not sure in this day and age why you would need someone local unless you want to actually sit at a desk with them (get a free coffee or pop?) when you do your quarterly or annual reviews that we do by a Zoom call even when we were local to them? Just my 2 cents.

Thank you for all the feedback.

Scott Windsor. He’s affiliated with Citizens First Bank and his fees are not outrageous. He also is a fiduciary.

Does anybody know when you turn 73 and you have to take your RMD from an IRA And you deferred compensation plan besides charity donations or switching to a Roth IRA (which is I understand that it’s not possible unless you are employed )are there any other way legally to not take any distributions or to reduce tax liability?

Fidelity has been terrific and the LS staff outstanding.

Careful with the annuity sharks.

If you switch to a Roth, you still need to pay the tax. The only way I know of to avoid the tax is to transfer money directly to a charity.

Rob Luther Group at Merrill Lynch in Sumter Landing has been terrific for us.

So you have been successful,
you haven't paid taxes on part of your earnings,
you have made money like many billionaires, millionaires, and other wealthy investors,
and you think that you shouldn't owe any money like they do?

Taxes are a by product of success, everyone should pay their share, You have been successful? Great! pay your share, and invest the remainder again!
and personally, I would rather be paying taxes than begging for handout from the government.

Lets say your incremental tax rate is 25% on all the RMDs right now
Let's say a reasonable investment return is 8% per year.
You can get back to even within three years. .

So if you still can, roll over as much as you can from your IRA to a Roth or a taxable brokerage account, up to 25% incremental tax rate, and reinvest the after tax dollars in the same way you have or visit with your advisor and reinvest it for 8% target growth. . in three years plus, you will be back to where you are now. . . say 5% interest rate/annual return, you are whole again in 4 years. .

If you think that millionaires / billionaires don't pay taxes as a general rule, you are missing the point of investing. . millionaries/billionaires focus on making money successfully. .

only CPAs are trained to get apoplectic with very large tax bills (the technical term is tax adverse) and i love my CPA friends . .

former finance (not accounting) guy

Tyler Jackson of Raymond James Precision Wealth Management in the Brownwood Paddock Square has done an awesome job for us. Here is his contact information:

Tyler C. Jackson
Vice President, Wealth Management
Phone 352-571-3123 Text 352-309-1331 Mobile 352-406-5975
Web Precision Wealth Management - The Villages, FL
Email tyler.jackson@raymondjames.com
2631 West Torch Lake Drive
The Villages, FL 32163
Florida Insurance License Number: P103415

Financial advisor
 

I cannot recommend Kenneth Wingerter more highly, He is financial VP with Morgan Stanley, down in Venice, FLA. He has been directing my investments for many years and consistently show growth. He bases his management on you business style, ie., agressive, conservative, etc. Yes, he charges you a fee, which is to your benefit. He works for you and not for the company that pays his fees.

Get in touch with Kenneth and do your own leg work with him, vs. someone's recommendation.


ken.wingerter@morganstanley.com


ken.wingerter@morganstanley.com

Fidelity is a great choice if you want self directed. Fisher is great if you want a managed account. Stay far away from parady as they push annuities.

Andy Patrick with Citizens First Bank Wealth Advisors

If your current investment firm has done a good/great job getting you to retirement, why leave them when you have reached your goal. We moved from the left coast and kept our WF Advisor. I can call him and his team at any time. We have quarterly video calls. I monitor investments via an online acct. Easy peasy. No need to change.

I highly recommend Parady Investments. At the very least you should have a sit down meeting with them.

Prepare for a HUGE market slide today. Hold onto your wallets!

Fidelity is right here in Sumter Landing, they pester me all the time.

Why would you need to switch advisors? You don’t need to see the advisor. You have a phone don’t you? Use it with your current advisor.
The only change I would do is get rid of your advisor, keep your investments if they are making you good money, and start doing this yourself. You should have been learning how your advisor invests your money.
The big test for any advisor is: have they been doing anything to prepare you for what’s coming? I bet not. For months, the market has been going sideways at best and been losing money.
Watch out for annuities, very bad, high costs, minimum gains and low payouts for money invested.

What am I missing?

When we moved to The Villages in 2016, our then current financial advisor in PA was retiring. I called the companies we were invested with for advice. They highly recommended PARADY FINANCIAL. It was GREAT ADVICE as Greg PARADY, and is company, have done great things for us. Good luck to you.

Talk to Travis Bender at Blackston Financial on Rt.466. He is a certified Fiduciary. He will find ways to get what you need, and it's a pleasure to do business with. I have made and saved more money with his advice in the last seven years than I have in the last twenty.

Now I see it, can understand a side but hopefully will not be huge.

I think it is way overdue. Japan's market took a dump last night. reuters.com

"Greg Parady, considered by industry peers as the #1 income and annuity professional in the country!"

GROSS!!

I kept my advisor from Ohio. I don’t trust anyone in this area.

Cut and paste from Mayo Clinic charitiable trust site, as this is what a lot of $$$ folks are doing and it is a good option.

"If you are 70½ or older, you may now make a one-time election for a qualified charitable distribution of up to $53,000 (without being taxed) from your IRA to fund a life-income gift."

The $53K is rolled over into a life time annuity that is payable to you and your spouse till death. Most recent rates were above 5%. Other institions also provide this option.

Give From Your IRA | Mayo Clinic

Another vote for Paul Merriman!

My basic rule is: 'As soon as an advisor mentions the word "annuity," run, don't walk, to the nearest exit!'

And one of the biggest customers of the Sun.

Be careful. Some advisors will sell you an annuity and they will never use the word "annuity". They will call it a retirement investment or something else.

A Bank for Investments? NO!!!
 

Clark Howard has said to never deal with a bank concerning your stocks/investments . . . .

“Something that I have discouraged you from doing is never, never, never — not ever — do any investing with the investment side of a bank,” Clark says.

Why You Should Never Invest With a Bank.

Parady Investments
 

I also recommend Parady Investments. Greg Parady was life changing for my husband and I.