Author Topic: Financial Planner/ Early Retirement ????'s  (Read 2894 times)


  • 5 O'Clock Shadow
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Financial Planner/ Early Retirement ????'s
« on: August 21, 2013, 11:10:22 AM »
New here, although I am a frequent reader and lurker. This is my first post and I have a LOT of questions.

Me: early 30's, work full time: make 60K/yr with 40k in TIAA-CREF
Wife: Late 20's, works full time: makes 55k/yr with 20k in 403b
have about 4 months expenses in liquid savings and some more in more non-liquid holdings
Both very happy and settled in our jobs, not looking to go anywhere else until retirement.
Living expenses (everything, including housing (mortgaged house)): 3000/mnth with 2k of that being mort/prop tax/insurance
We are putting away 50%+ of our income after tax and contributing to employer-matched retirement plans.

Will be inheriting a large (to us) sum of between 350-450k in the next few months.
According to FIRECalc, we should be 100% good once we hit 450-500k, but we want to play it safe and work a few more years to pad that number closer to 600-700k to account for health issues and travel more rather than less, as well as buy property elsewhere and build ourselves a nice little homestead

We want to sit with someone (one time fee-based financial planner) to discuss where all the money should go/how to draw it out. By where it should go I don't mean portfolio allocation in the traditional sense.
-Whats the best way to keep the tax-man from knocking, bonds/stocks/money into tax-deferred every year? Split bonds/stocks between taxable and tax deferred?
-Where should our current income derived savings go? should we be maxing the Roths every year and the rest stays taxable? Or just keep it all taxable since we'll be pulling from it for the next 25+ years until we can collect from retirement funds?

I'm obviously leaving out quite a large chunk of the picture, but I would absolutely say we are not the typical people who walk into most planners or cpa's offices. We live extremely frugally, 110% agree we aren't having kids, and will be able to live under the 19k federal max/minimum and still travel once we move out of our current area.
Even over on morningstar and the boggleheads boards people say we can't retire anytime soon!!! I don't want the same opinion from the person we are paying to help solve some of these challenges!
Advice? Comments?


  • 5 O'Clock Shadow
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Re: Financial Planner/ Early Retirement ????'s
« Reply #1 on: August 21, 2013, 12:06:55 PM »
Hi FlyingScot! Welcome to the forums! :)

Congratulations on reaching FI! That's a huge accomplishment for a couple your age!

Regarding financial planners who understand your desire for early retirement at such a young age, I have never heard of any. I worked for a financial planning firm, and every single one of the advisors would probably steer you towards working longer. I would probably do investing research on your own - these forums (esp the Investor Alley forum!) are great resources. Once you have an idea of how you want to invest, I would go to a CPA and ask how you could go about maximizing the tax efficiency of your portfolio.

That way, you will already have a developed plan that you're confident will complement your lifestyle, and are simply using their financial services to fine-tune the efficiency of your portfolio.