No. of Recommendations: 0

I'm 65 and drawing a small SS check, my wife is 56, quit her job teaching and will draw a small retirement check when she reaches 60 years old. I put my pension into an IRA along with my 401k when I retired. We have everything paid for, house, cars etc.
I have talked to several "financial advisers" some like American Express, A. G. Edwards, Edward Jones, and a small "fee only" firm that charges 1.25% and buys mostly no load mutual funds. I can also "buy" and hour ($100.) of this persons time and "validate" and get advice on the funds I own that I keep in Schwab and Vanguard.
American Express claims to offer many things, tax advice, budgeting, all kinds of financial advice and they take their fee out of "loaded" funds in the American Express acount. It really sounds good but I just have an uneasy feeling that the "fee only" firm might be far less expensive in the long run. Or I may just keep "validating" several times a year.
Love to have input on this.

Thanks, Tom
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.