Author Topic: Financial Planner or CPA?  (Read 3008 times)


  • 5 O'Clock Shadow
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Financial Planner or CPA?
« on: July 25, 2013, 07:28:12 PM »
I'm 51 and trying to retire early but have most of my assets tied up in IRA-type accounts.   Don't really want to pay a financial planner $2k when all I think I need is a good tax guy to give me some advice on bridging the gap between now and 59 1/2 when tapping the IRA's at 2% a year is easy.   Anyone know where to find a good tax CPA?


  • Handlebar Stache
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Re: Financial Planner or CPA?
« Reply #1 on: July 25, 2013, 07:54:21 PM »
I don't think you even need a CPA as this stuff is pretty simple.  If you are comfy doing so, lay out your situation here or at the boards at and see what you hear.  The obvious things you could do are tap any after tax assets, borrow what you need to live on (possibly via a HELOC) or set up a 72t withdrawal program.


  • Magnum Stache
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Re: Financial Planner or CPA?
« Reply #2 on: July 26, 2013, 10:38:59 AM »
Check out strategy 2 and strategy 3 in this article.

And read more on these forums.  I really like Jim Collins and his writing on investments too.

I think with a little more knowledge, you can be your own financial planner.


  • Bristles
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Re: Financial Planner or CPA?
« Reply #3 on: July 26, 2013, 11:17:30 AM »
I've passed my CPA exam and have worked for CPA's for 6 years.

I haven't ever encountered anyone asking for this type of planning before.

We do however do some RMD type stuff which I suppose is similar.

It doesn't appear that it's all that difficult but I'd probably go ahead and pay for someone to really look at this stuff with you.  Call around a bit and tell them what you want and see if they can recommend someone.

I always recommend a professional when you're navigating anything with substantial economic consequences.

that being said you really need to talk to your IRA administrators because they'll be the ones doing the 72t distributions.  You tax person will just be inputting the forms received from the admins.  1099R's.


  • 5 O'Clock Shadow
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  • Location: Greater Grand Rapids Area, Michigan
Re: Financial Planner or CPA?
« Reply #4 on: July 26, 2013, 03:14:11 PM »
I know there is some sort of distribution to avoid the penalty from the IRS if you retire at 55.  I don't know all the details, but I know it exists.  As far as the gap between, not sure what your options are or if you will have to stay out of the IRA/401ks and use savings/ROTH contributions.


Wow, a phone plan for fifteen bucks!