Retirement for Me!

[Tahoe Ray]

Beats the snot out of not putting money into anything.

The primary reason most pre-retirees lack the funds necessary for a comfortable retirement is from lack of saving, not from lack of return.

I guess I should have clarified "anything"...setting aside some money for retirement is certainly better than not setting it aside, but the OP had already made a decision to begin saving (hence the post). The question was how to best get started.

 

[scagnt83]

You guys all make valid points.

I dont want to give off the impression that I think Financial Planners are a joke or anything. Because they certainly are not.

And yes, there are some who offer hourly rates. In my area they start out around $150-$200 per hour.



Here is the thing; all of us are right to some extent.

Fee based Financial Planning is essential for some, recommended for some, and not necessary for others.

The #1 problem with retirement savings in this country is the simple fact of NOT saving.

And something is usually better than nothing.



Find an "advisor" of some sort that you trust and feel confident with. Ask lots of questions. Do your own research; talk about that research with your advisor. Maybe even get a second opinion.
But do something.
There was a thread a while back that talked about living off of SS and having to eat catfood for the rest of your life... lol.

 

[TDFnCali]

You guys all make valid points.

I dont want to give off the impression that I think Financial Planners are a joke or anything. Because they certainly are not.

And yes, there are some who offer hourly rates. In my area they start out around $150-$200 per hour.



Here is the thing; all of us are right to some extent.

Fee based Financial Planning is essential for some, recommended for some, and not necessary for others.

The #1 problem with retirement savings in this country is the simple fact of NOT saving.

And something is usually better than nothing.



Find an "advisor" of some sort that you trust and feel confident with. Ask lots of questions. Do your own research; talk about that research with your advisor. Maybe even get a second opinion.
But do something.
There was a thread a while back that talked about living off of SS and having to eat catfood for the rest of your life... lol.

Thx guys for all the post again, im making it a priority to NOT be 1 of my FE clients, solely dependent on SSI....no way in hell Ill be like that in 20yrs.

Based on a few people's recommendations, Im looking into ROTH IRA (which I had already decided to do, but wanted confirmation) and mostly likely will invest in the Dogs of the Dow strategy with it. Ill also be getting an IUL for me & my fiancee once I get all the info on that. If I dont like it for some reason, Ill look more into FIA.

Thx guys!

 

[xrac]

You can make that point with anything...don't plan because things may change.

You have to work with the what you have in front of you. At the very least, he should pick up a couple of books on the subject. Blindly dumping money into anything is normally not a recipe for success.

Early on accumulation is the most important thing. It doesn't seem smart to me to spend money for a plan until you have some assets accumulated. He can be about as diversified as he wants to me in a good no load mutual fund family. If he is adverse to risk then a FIA would work at this juncture. Most people take financial plans and stick them in the drawer.

However reading some good books is definitely something I agree with pursuing. Being a reader of Forbes, Barrons, Money, etc. can also educate.

 

[smokin goose]

Invest it all in moonshine. Just don't get caught.

 

[amirla84]

Thx guys for all the post again, im making it a priority to NOT be 1 of my FE clients, solely dependent on SSI....no way in hell Ill be like that in 20yrs.

Based on a few people's recommendations, Im looking into ROTH IRA (which I had already decided to do, but wanted confirmation) and mostly likely will invest in the Dogs of the Dow strategy with it. Ill also be getting an IUL for me & my fiancee once I get all the info on that. If I dont like it for some reason, Ill look more into FIA.

Thx guys!

hey whats up dude. how is the final expense biz?