[USER]

Just met our financial advisor at Fidelity today to make retirement plan.
Current assets will support our life style until mid 90s if we both retire next year with 3.5M – 23M at the end of the retirement.

No more guessing game! Highly recommended! Best part- it’s free!

Edit to add: it’s free as long as YOU manage your accounts.
For health expenses, we have combined 65K saved which was not included in total assets.

Our projected expenses is 115-120k per year. This includes new car every 10 years.

Total asset excluding our resident.

hope that everyone believes you can do it. If you can get some help for free, why not?!

If you have old 401K from previous job, highly recommend to roll over and you might get some bonus for doing so.

[John]

I thought FA at Fidelity came at a cost? Or are you saying the retirement plan was generated free but is included in the overall FA cost structure?

[Lindsey]

So, is the $3.5M based on significantly below average returns and $23M based on average returns?

I’ve also been looking at these scenarios and trying to determine which retirement age I should base my plan on.

I don’t want to work longer to leave a significant amount of money behind with no kids.

Been wondering if I should maybe use “Below Average” as worst case and plan to zero in that scenario.

[Niamh]

We were contacted by fidelity for a similar opportunity and it’s good to read that it has merit in the service offered.

Do you mind sharing how old you are and if under 65 if they were able to give any information/direction on bridging that gap from 62-65 with healthcare costs etc factored in too? And what’s the range of your annual expenses? Thx

[Julian]

Please just realize that the person you talking to knows very little about investing that’s why it’s free.

[Van]

What’s the starting NW, yearly draw, current age, and probability of success if you can disclose?

[Jeannie]

But it’s not free…you pay an enormous amount of money for this free advice!! This person will make hundreds of thousands of dollars on you…just saying

[Riley]

I concur with the FA being free if you manage your assets at fidelity. I can contact mine as needed.

Hes not really helped but I’m not a great client in making decisions either.

He presented some options which I declined each

[Amy]

3.5 to 23 M. Typo I assume. Totally ridiculous for most people, either end of range.

My hubby and I each retired at same age with each having the same retirement savings approx 7 years ago.

We both draw a similar income to the one we had before retirement, me a fair bit more actually.

And our retirement savings have almost doubled since we retired.

And we aren’t even 65 yet, so government benefits aren’t even being drawn yet.

And our initial amount that we entered retirement was a lot less than the low end you are suggesting

[Stan]

We did something similar with our FA. It is well worth it. You need to spend time to give them a good estimate on how much you are planning to spend, but that also is very valuable.

May I ask what rate of return they are assuming in your retirement?

[Kendra]

Do you mean that your start point will be $3.5M and you’ll end up with $23M at the end?

How long is retirement and what’s your withdrawal rate? It’s possible during a 35 year retirement.

I just ran quick math which would presume a 2% withdrawal rate and linear returns.

However, I would make sure your advisor is giving you inflation adjusted projections so you know what you have in real dollars.

[Author]

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