Quantcast
Channel: Bogleheads.org
Viewing all articles
Browse latest Browse all 4603

Personal Finance (Not Investing) • Help! Finance-phobic, need fee-based planner but can't swim!

$
0
0
Hello—
All hands, all hands! This is an urgent plea for advice from someone who is afraid of deep financial water and doesn’t even know what swimming is, let alone how to do it. While I can still poke my nose out and head for solid land, thought I’d post and see who can offer some concrete advice.

My situation:
  • I’m 18 months into retirement from my federal job with the VA (age 68, SF). Right now I live off my federal retirement and social security plus plus some interest income.
  • As of mid-2024 my parents had both died; the estate is likely to settle out sometime in 2025. When that happens, I will have considerably more to get finance-phobic about since most likely this will double or triple my current net worth.
  • I am finance-phobic but I realize that before I make any major decisions about where or what I want to do/see/go for the rest of my life, I need to gather the right info for sound decisions. That means considering things like tax implications, investment strategies (or at least concepts) and similar factors that I have always found intimidating (or during hard times found irrelevant).
  • After lots of research (and self-education) I’ve concluded that I need to hire a fee-only planner for this task.
      I’ve been advised to check out places online like NAFPA, and I’m more than fine with doing this whole plan-thing remotely/online with whoever in the US is the best fit.
    So—how do I choose? And what are the right questions and info I need to gather so he/she/they can properly analyze the short- and long-term costs/benefits of my options? I'm aware there are tax implications, timing questions, and my own goals/needs to consider.... but beyond that, I feel like I’m getting into that deep water I mentioned earlier.

    Other factors:
    • I’m a US Army veteran, with two grown children. One lives with me in Alabama, pays me rent of $1k/month.
    • One of my key goals for 2025 is to rent out my Tuscaloosa house (3.25 interest rate ~1/3 paid off)) and relocate north, to be closer to my large family (in PA/NY/DE/Ottawa CA).
    Anyone? All positive guidance/advice welcome! Thanks!

    -Jen Three

    Statistics: Posted by JenThree — Sat Jan 18, 2025 4:45 pm — Replies 0 — Views 28



    Viewing all articles
    Browse latest Browse all 4603

    Trending Articles