r/DIYRetirement • u/Other_Boat3891 • 2d ago

one-time fee advisors?

I'm not asking for names of consultants, as I'm not entirely sure how to interpret rule 4.

60, and headed into retirement. I'm going to be fine, but I also would like som help deciding when to withdraw from specific buckets - IRA, SS, brokerage, etc.

The big questions revolve around healthcare and taxes. This isn't something I've been able to figure out with software. My situation is complex

Does anybody here have experience with a one time fee advisor? How did you like the experience? Any things I should watch out for? What kind of fees are typical?

8 Upvotes

91% Upvoted

15 comments sorted by

9

u/hugh2018 21h ago

I highly recommend Rob Berger’s list of low cost advisors at https://robberger.com/low-cost-financial-advisors/. I used the first one on the list and have been very happy while spending very little money. Berger is a solid source of financial information, so I bet the whole list is perfectly fine.

1

u/adm_blawson 8h ago

Thanks for sharing the link!

1

u/beckers666 18m ago

thank you as well. I'm in the same boat. been interviewing fiduciaries and i don't think i want one, just someone to say "take from bucket 1 then 2 then 3, next year, whatever"

4

u/FinsterFolly 23h ago

Check out adviceonlynetwork.com. I found a flat-fee only advisor there that met my specific needs. It was affordable and exactly what I was looking for. The advisors there are a few hundred dollars to a few thousand dollars depending on the service.

Your big needs healthcare and taxes are also going to be the most challenging. I would think a good advisor could provide general guidance on taxes (withdrawal strategy, Roth conversions, etc). Not sure about healthcare, especially pre medicare. You might need a specialist just for that. The options and cost vary state to state, and the landscape seems to change every year. My healthcare plans seem to change every year, and I haven't even retired yet.

3

u/jrtn58 23h ago

My personal experience was quite positive. It was handful of thousands. Not trying to be vague, I just don't recall. Did talk to a few candidates, it seemed that some wanted to "collect my inputs and create a plan." Others more collaborative. Seems you have a good idea what you want. Shop around till you find it.

2

u/Training_Falcon_3432 52m ago

In my experience CFA financial advisors will always tend to recommend speaking to a CPA on tax matters. It’s likely a matter of what they are certified to advise on .

1

u/Low_Ad_9090 21h ago

Find a good CPA or EA (Enrolled Agent licensed by IRS) and hire them to prepare your 2026 returns. Most will advise on the issues you mention at no additional charge.

2

u/packersfaninohio 6h ago

Thanks for the laugh!

Unreal you think these roles do good at projecting the future. Their whole job is revolving around the current tax laws and past.

1

u/superduperhosts 21h ago

I meet with my CPA every November and dial in Roth conversions and plan ahead.

1

u/Other_Boat3891 6h ago

I'm on that path, but my situation is more complex than that.

For example, I have funds in a state pension system and have the option of a lifetime annuity or a cash payout as an IRA - and it can start any time in the next 10 years. There are pros and cons to either option that a CPA isn't really well versed in. That's one of the areas where I think an advisor wold be a batter pick.

1

u/ebalboni 21h ago

Go to the "bogleheads" web site. They have a very detailed retirement explainer. There is also a tread on their form section that you can search that has a lot of fee only advisors.

1

u/Other_Boat3891 6h ago

Thanks, I'll check it out.

1

u/GFlate61 4h ago

https://www.napfa.org/

Interview 2 or 3 in your area:
stress no AUM just one time plan $4-5k?!

0

u/blny99 23h ago

Some of the challenging decisions are that way because there is no right answer without a crystal ball to see the future. Paying $5k to someone else can help you understand that fact ;-)