Author Topic: Looking for a hourly fee retirement specialist in San Diego area  (Read 980 times)

Exprezchef

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Looking for a hourly fee retirement specialist in San Diego area
« on: September 17, 2020, 04:18:02 PM »
Not sure if this is the correct section to post this but I'll give it a shot.

I am retiring November 19th 2021 and while my wife and I have been setting us up for a very comfortable retired life, I really want to sit down with a Retirement Specialist for a few hours to look everything and let us know if we are on the right track and help come up with a withdrawal strategy. I have talked with number of advisors, but they all want to take over the management of everything and charge us 1-1.5% annual fees for their services. For our situation, that would be close to $20k per year, which I am not willing to fork over. I am very comfortable with managing everything myself, I am just looking for another set of eyes to look everything over and ensure I am thinking correctly.

Anybody want to recommend a planner in the San Diego who charges by the hour that we can meet with once or twice year for a few hours?

Would it help if I post our situation in the Case Study section of the forum?

erutio

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #1 on: September 17, 2020, 04:25:53 PM »
Post a case study. The collective "retirement specialists" here are probably better than anyone you can hire in your area.

Exprezchef

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #2 on: September 17, 2020, 04:27:12 PM »
I will do that, thank you

ixtap

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #3 on: September 17, 2020, 04:32:57 PM »
Start with a case study. From there, you may decide that you are comfortable with a plan, or you may have more concrete things to discuss with a planner.

reeshau

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #4 on: September 17, 2020, 06:32:04 PM »
You can look for advisors in the Garrett Planning Network.  All Garrett advisors are fee-only, although some do charge a percentage of assets.  But many are hourly, or fixed rate for a full financial plan.

Sandi_k

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #5 on: September 17, 2020, 11:32:40 PM »
The Boglehead Forums would be a good place to post your query - they have a standardized "Review my Portfolio" format, and they are smart.

If you want an hourly fiduciary, the normal recommendations are:

- XY Planning Network
https://www.xyplanningnetwork.com/consumer/find-advisor-new-2/

- Garrett Financial Planning Network
https://www.garrettplanningnetwork.com/

- NAPFA
https://www.napfa.org/find-an-advisor

- Rick Ferri (a frequent contributor, and the guy who runs the Boglehead podcast; here's a typical thread)
https://www.bogleheads.org/forum/viewtopic.php?f=10&t=322443

ysette9

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #6 on: September 18, 2020, 02:29:33 PM »
The key things to note here are that you want a fiduciary advisor (the CFP certificat ok after someone’s name will get you that) and you want them to be fee only, preferably a flat charge to put together a plan or by the hour.

Be prepared to pay a few thousand dollars for this. Also, check to see if your employer might offer some benefit, often with the 401k plan. You never know. I had our situation reviewed by an advisor working for my 401k manager company before I pulled the plug.

TomTX

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #7 on: September 21, 2020, 04:29:17 PM »
The Boglehead Forums would be a good place to post your query - they have a standardized "Review my Portfolio" format, and they are smart.
Depends if they actually want to retire now, or have Bogleheads tell them that an already super-conservative plan isn't conservative enough, work another 5 years.  Bogleheads have their place (investing, deep analysis) - but tend to miss the "early" part of RE.

Anyway - yeah, post a Case Study on MMM.

Sandi_k

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #8 on: September 21, 2020, 07:37:33 PM »
The Boglehead Forums would be a good place to post your query - they have a standardized "Review my Portfolio" format, and they are smart.
Depends if they actually want to retire now, or have Bogleheads tell them that an already super-conservative plan isn't conservative enough, work another 5 years.  Bogleheads have their place (investing, deep analysis) - but tend to miss the "early" part of RE.

Anyway - yeah, post a Case Study on MMM.

Ha! Fair point.

Peter Parker

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Re: Looking for a hourly fee retirement specialist in San Diego area
« Reply #9 on: September 22, 2020, 09:20:07 AM »
We are doing this as well...but not for me.  It's more for my wife--and I think it will be well worth the money:

We have plenty of money to FIRE, but my wife keeps wanting to put all it under a mattress.  She has trusted me up to this point, and we have done well, but I want her on board with a retirement plan--to show her:  (1) We are going to be OK; (2) Some money needs to continue to be invested; (3) Should something happen to me, she has a plan (and a person she could get in touch with to get advice); (4) to help her get an idea of what our monthly income levels will be at certain stages of our retirement.

I feel I have a pretty good grasp of this, but this falls under the realm of having a person (other than her husband) tell my wife that she is going to be okay.  It isn't really a trust issue--it is a double-check/insurance that (for us) is well-worth the money.

We are meeting with a fee-based CFP this Friday.  It is an hourly cost of $300 per hour.  I think we will need about 6 hours total to formulate a comprehensive retirement plan--and then I will manage from there (with my wife's consent and buy-in).  This wouldn't be money I would spend if I were on my own, but I think it will be well worth (and I might learn a thing or two, too). 

Good luck.  Hourly CFPs are out there.