Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
To Retiring and Nervous

We were in a similar situation. Paid $1200 to a financial planner to tell us how to place our funds so my husband could retire in 2 years at age 55. There was to be $1200 from his company pension, $1,000 from our mutual funds, and $3,000 a month using the 72T on the 401K, WRONG! When we went to the planner to set everything up, he contacted a CPA and we were told because of our ages,life expectancy, and amount in the 401K (approx. $500,000) we would only be allowed to take out about $1,100 a month until my husband reached 59-1/2. Needless to say, we are no longer working with that financial planner.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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.
Advertisement