Retirement Planning
Parent Q&A
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looking for retirement advisor
–Jun 30, 2024I have an investment advisor who also does retirement plans but I'd like to talk to someone who is tax centric and can guide me through the best ways to manage my withdrawals with medicare costs in mind, etc. Right now, I feel that I can make mistakes in withdrawal amounts that can put me in a higher tax bracket and a higher medicare cost bracket. I want someone who proactively plans withdrawals and spending to minimize taxes and costs Does anyone have a recommendation for someone who knows this aspect of retirement? Thanks in advance for any guidance you can provide.
Jun 30, 2024Fixed Annuities -- Perspectives from people who have them
–Oct 29, 2023Recently met with a financial advisor at Fidelity my 401k (from a previous employers) is. She ran a couple simulations that showed if we kept our retirement money only in a 401k we would run out of $ when I was in my early 90's. Whereas, if we put assets from my 401k into a fixed annuity, we would not run out of $ during retirement and there would be a small amount of assets (from 401k) that our heirs would inherit (these simulations assuming below market returns and both myself and my spouse would live to late 90's). I've done research online into the pros and cons of fixed annuities but wondered if anyone who has a fixed annuity can chime in whether they are happy with their decision to obtain one and if they had to do it again would they make the same decision. I'm still 10ish years from retirement.
Oct 29, 2023Fee-based financial advisor for retirement planning
–Sep 27, 2021I need help figuring out if I am financially secure enough to retire soon. I will have income from a pension, social security and some savings. But I am not sure how to estimate how long this will last. In addition, I am getting a larger inheritance from my parents in Germany. I believe, there are no taxes due on this, but I would also like to discuss any potential tax effects and help with investing the money from the inheritance.
I would like to work with a fee-based financial advisor. I am not sure if one professional would have the expertise for all these questions, or if I need to work with multiple advisors.
Sep 27, 2021Flat fee financial advisor to plan retirement
–Sep 11, 2021Hi!
I am looking for a recommendation for a flat fee financial advisor. Someone who can easily walk us through some planning and help us figure out our retirement with our limited resources. We don’t have a lot to work with and are also interested in learning about low index funds. We are in our early 40’s , 2 young children, a school teacher and an X-ray tech. We now live on the Peninsula but are willing to drive to the East Bay . Thanks in advance for your recommendation and or advice!
Sep 11, 2021Roth IRA for a Teen
–Feb 18, 2021My teenage daughter earns occasional money from dog sitting. I'm looking to deposit an equal amount into a Roth IRA for her. Looking for some advice on where I could do so without a minimum balance or high fees. My first choice would be Vanguard but they have a $1,000 minimum balance. Once we get to $1k, I plan to transfer the balance to a Vanguard account. Until then, what's a good option? So far we are only starting out with $75 and not sure when the next dog sitting/money earning opportunity would be, but will probably get a couple more sometime this year. Thanks for any advice!
Feb 18, 2021I'm mid-40's, single, no kids, self employed.1) what's an "acceptable" fee to pay a company like Vanguard or Fidelity etc to help manage your retirement investments (SEP/ROTH)? I know this kind of service requires a % fee, but what's considered "average" or acceptable?2) I'd like to find a Financial Advisor or Planner this group highly recommends. I want to learn more about managing my retirement investments, but need some guidance and education initially. (I've been reading a lot online and in books, but having a human to guide and ask questions to would be helpful). I don't want to be sold into specific funds the advisor is affiliated with. I just want guidance so I can eventually mange them myself and reap better returns. My previous investments were lacking in any strategy and I have a lot of catch up I need to do. TIA
Jul 27, 2020
Hello there -- we have just the kind of financial planner/retirement advisor you're seeking: https://elmwoodwealth.com/ Our family has been with Elmwood Wealth Management (510-858-2723) for over five years now, and our in-laws have also come on board. What stands out about the team at Elmwood Wealth is that 1) they operate as a team -- we work closely with Bob, Shannon and Julie, and don't feel "passed along" to junior staff. The principals have even answered my panicked emails late at night at tax and year-end deadlines, though we're always working to minimize fire drills. 2) Tax brackets and implications have been a deep part of all conversations, whether it's real estate, the markets, ROTH contributions or other asset situations like estate planning. And they're helpful at tax time, making sure our CPA has what they need etc. 3) I enjoy their low-key "bedside manner" too. They're the opposite of a type-A, pressured environment. Their fees are fair and clear, and well worth it for our portfolio health and peace of mind. And I always enjoy our meetings with them.