I'm a 61-year old federal employee (in excellent health) planning on retiring potentially within the next year. My mother died at 90 in fall 2023; after her entire estate is settled I will have in the low-to-mid seven figures. I currently rent and I live in a HCOL metropolitan area.
I've read many forum posts about advice-only planners (i.e. ones who don't charge by AUM).
Question for the forum: Do forum member think these planners can or could handle complicated, multiple-pending decision financial situations with many moving parts and/or many potential different life scenarios?
--Whether or not I marry my long-time girlfriend (age 55).
--Whether or not we live in her nearly paid-off house - which has pluses and minuses.
--Whether or not I keep my late mother's house, and/or modernize it and live in it. Her house is in a very desirable neighborhood and community.
--Whether or not I ultimately continue living in the HCOL metropolitan area, or move somewhere else.
--Tax planning, especially related to the high six figures worth of IRAs inherited form my mother.
--Needed insurance coverage updates.
I'm starting to realize I am confident about how to save and invest, but am fairly anxious thinking about retiring and having to spend what I've saved, invested, and inherited - while almost simultaneously trying to make a lot of other big life decisions.
Thanks very much!
I've read many forum posts about advice-only planners (i.e. ones who don't charge by AUM).
Question for the forum: Do forum member think these planners can or could handle complicated, multiple-pending decision financial situations with many moving parts and/or many potential different life scenarios?
--Whether or not I marry my long-time girlfriend (age 55).
--Whether or not we live in her nearly paid-off house - which has pluses and minuses.
--Whether or not I keep my late mother's house, and/or modernize it and live in it. Her house is in a very desirable neighborhood and community.
--Whether or not I ultimately continue living in the HCOL metropolitan area, or move somewhere else.
--Tax planning, especially related to the high six figures worth of IRAs inherited form my mother.
--Needed insurance coverage updates.
I'm starting to realize I am confident about how to save and invest, but am fairly anxious thinking about retiring and having to spend what I've saved, invested, and inherited - while almost simultaneously trying to make a lot of other big life decisions.
Thanks very much!
Statistics: Posted by SierraRainShadow1 — Sat Aug 24, 2024 10:04 am — Replies 8 — Views 445