Talk of The Villages Florida - Transition from saving to spending

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)

- The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)

- - Transition from saving to spending (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/transition-saving-spending-325647/)

We were where you are

Quote:

Originally Posted by biscuitgirl (Post 2021764)

Hi all. My husband and I are recent arrivals in TV. We’re looking for a professional to advise on taking withdrawals from our savings to fund retirement. We’ve always made our own investment decisions and feel pretty comfortable with that. But we have a few big-ticket items coming up with the house, as well as day-to-day expenses, and I’m struggling to figure out when and from which accounts to take money to minimize tax impacts. There seem to be plenty of people around that will sell you an annuity or manage money for an ongoing fee, but surely there must be people that specifically advise on the withdrawal side of things. Can anyone recommend a good fee-based advisor who can help guide us through this, or even identify the type of professional I'm looking for to better target my google search? Thanks.

We were not sure we were making the best choices. We met Samantha at Fidelity and she walked us through every facet of the transition from working and saving to using and preserving those savings. We had talked to other advisors but they always charged for nothing or wanted to sell us something. Fidelity does not do that. The process should be something that you are comfortable with. Anyone who says "don't worry about it, we will handle everything" is the one to walk away from!!!

Quote:

Originally Posted by Boomer (Post 2022595)

After all these paragraphs I just wrote — (sigh) — I should have just said sit down with a CPA who is about your age. (The reason I say the age thing is because our last two CPAs were in the same boat as us, but now a whippersnapper has taken over the business and I have had to teach him a couple of things — like how the methods of doing a QCD can vary depending on where the accounts are held.)

Boomer

This is all great advice and I will look for a good CPA. I'm very grateful that you took the time to write the full post - I learned some new acronyms and I think the better educated I am the more productive a meeting with a professional will be. Thank you Boomer!

Quote:

Originally Posted by Bay Kid (Post 2022457)

I'm working on spending my kids inheritance.

And don't forget: Fly first class -- or your kids will.

Seriously,
Boomer

Quote:

Originally Posted by Boomer (Post 2023362)

And don't forget: Fly first class -- or your kids will.

Seriously,
Boomer

And use up your frequent flier miles!

Quote:

Originally Posted by Boomer (Post 2023362)

And don't forget: Fly first class -- or your kids will.

Seriously,
Boomer

1st class both ways and a private driver from the airport to my Village home!