[bronxliz]

Can anyone recommend someone who can give retirement planning advice, and who will not want to take over all my money, which is already in 401(k)s and IRAs? I just need some planning advice.

[TomW]

I suggest you look on-line at Fidelity or a similar site and get the gist of retirement planning there. It will be difficult to get non-biased advice because most financial service people make their money by selling you a product or service. Most 401ks don't have a wide array of choices and many are limited to mutual funds only. If that is true in your case, you can start with the specifics of what your plan allows you to do. The general rule is to save all you possibly can and be diversified. Good Luck!

[Happinow]

Those people scare me. How about Suzie Orman? She seems to be a wealth of info.

[BobKat1]

Can you get advice from whoever holds/manages your IRA and 401k?

[angiefox10]

I noticed Fidelity has an office in Lake Sumter. I've used Fidelity for advise and major investments.

I use TD Ameritrade for just messing around in the market on my own.

Good luck!

[l2ridehd]

No one can plan or manage your money better then you can. Read, learn, and do it yourself. Go to boggleheads.com and use there recommended reading list and follow that advise. Read books by Bernstein, Ferri, John Boggle, and others. Google "Investment Policy Statement" and develop one that works to meet your goals and objectives. Set up an AA (asset allocation) that your comfortable following and then implement your plan using low cost mutual funds. Only you can manage your investments the way you want.

[Midge538]

If you are fully aware of Florida's laws that affect seniors and their assets ... and if you are fully aware of projected changes being suggested by our our leaders in Washington ..and if you have a clear perspective on the plans that the IRS has for your IRA / 401K plans then you might be able to handle your estate planning without outside advice. That being said, if you are unclear re: any of the above, I would suggest you attend one of the two free workshops being offered next week by Ms. Jean Dorrell .. (C.E.P.) at her building on #441. It will at the least give you some 'food for thought' regarding estate planning and issues for FL residents. (I have no connection or relationship with Ms. Dorrell.)

[BostonCelt]

It kinda depends on what you mean by "retirement planning". That can be a pretty broad brush. That you've already got IRAs and 401ks suggests you (or someone) has already done SOME planning...

I totally agree with the DIY approach unless you've got assets (not including real estate) up over $1 million or so. Unless you've got the big bucks a really good financial advisor (NOT Suze Orman) probably won't have time for you anyway, so you might as well pay yourself.

Estate planning, that's different. I'd take any of those "free" workshops (they usually come with a lunch/dinner voucher or two) with a large grain of salt. Just make sure you leave your checkbook at home. NO ANNUITIES! A good estate planning attorney would be better.

[bronxliz]

Thanks... we've already done our estate planning. I've heard bad things about annuities so that's out too. I guess we need some advice on how much money to withdraw from our IRAs if we want to do some home improvements, or whether it's better to take a home equity loan instead.

[drdodge]

go to one of Parady financial groups seminars. I think you will like what they have to say. Very low key. I have been with them five years and I like them.
drd

[BostonCelt]

Originally Posted by bronxliz

Thanks... we've already done our estate planning. I've heard bad things about annuities so that's out too. I guess we need some advice on how much money to withdraw from our IRAs if we want to do some home improvements, or whether it's better to take a home equity loan instead.

Oh, okay. Well, it sounds like maybe you've already done most of the heavy lifting, that all you really need is a monthly budget that's up to date. Do you know all your income sources AND what it takes to pay your bills each month? Your needs, wants, goals??

If that's all it is, rather than wasting time and money on "advisors", etc, try starting with a hand calculator, paper, and pencil....with an eraser!

[aljetmet]

Originally Posted by Happinow

Those people scare me. How about Suzie Orman? She seems to be a wealth of info.

Actually my 34 year old daughter (birthday today) idolizes Suzie. I'm not a great fan.

At the end of the year she asked me for advice for investments. She wanted to transfer funds to Fidelity. So I recommended 5 funds.
As you know the market has gone up nicely this year.

She thinks I'm a genius! (as she should)

[aljetmet]

Originally Posted by l2ridehd

No one can plan or manage your money better then you can. Read, learn, and do it yourself. Go to boggleheads.com and use there recommended reading list and follow that advise. Read books by Bernstein, Ferri, John Boggle, and others. Google "Investment Policy Statement" and develop one that works to meet your goals and objectives. Set up an AA (asset allocation) that your comfortable following and then implement your plan using low cost mutual funds. Only you can manage your investments the way you want.

I agree, but I have an MBA in finance so I know a little and do manage my investments without "professional" help.

A lot of great articles on yahoo.com / finance. Today read an article how the money for the Nobel prize is managed. Tehy ahd good advice.
I also happen to watch Mad Money. I have listened and bought stocks that Cramer recommends do my due diligence and have been very successful!

You definitly have to do what you are comfortable with. But you can't be an ostrich either!

[angiefox10]

Originally Posted by aljetmet

Actually my 34 year old daughter (birthday today) idolizes Suzie. I'm not a great fan.

At the end of the year she asked me for advice for investments. She wanted to transfer funds to Fidelity. So I recommended 5 funds.
As you know the market has gone up nicely this year.

She thinks I'm a genius! (as she should)

I agree. I spent part of my career as a public speaker and my topic was money. I would have to read everything I could so I would know what I was talking about when someone asked me questions about a book. Suzie appears to be going off the edge. Money is money, it didn't change, but I guess when you are selling books... You have to shake it up or the books don't sell. I remember reading in one of her books, kids in college should live on their credit cards to get through school. Now.... That's dangerous in my book!

As to your daughter.... Better hope the market doesn't take a dive... But then I suspect she thinks you are a genius anyway.... as she should.

[alexort]

I worked in the industry.

Fidelity has really smart people, and they sit on the same side of the table as you.

Other option is to use an RIA firm. Fee based only.

Overall, Fidelity is a great option.