Thread: CFP Meeting

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  1. #1
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    Nov 2011
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    CFP Meeting

    Just finished up with my CFP. It was definitely worth the money and I have a much clearer picture of what needs to be done. The Monte Carlo analysis is pretty interesting to see where you could end up in different market outcomes. I had her run an analysis of what happens if I work 2 more years versus retiring now. It really didn't add all that much in the grand scheme of things. Definitely worth the money for those nearing retirement.

  2. Member
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    Nov 2019
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    St Paul, Minnesota
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    #2
    I am a big DIY guy. I ran my numbers but I still hired two different firms to independently check my work. (The first one was good but didn’t quite hit the mark.) Retirement planning is I figured too important to leave to my own devices. It was good to get confirmations from my own analysis but the true value came from my ask for a roadmap for my finances throughout my retirement. I wanted to walk away with a map to help me navigate how to maximize my chances at wealth accumulation and minimize taxes.

    Heads up that fidelity has a great Monte Carlo tool available that can be used for free I believe. This tool’s output was very very close to the software used by the pros. It makes sense since it is just math.

    good to hear it went well for you too. I found that finding a “cost only” thoughtful planner is very difficult. I guess there is just too much money to be made by using the assets under management model…which in my situation at least, is a waste of money.
    Last edited by BoilermakerZ519; 08-27-2021 at 09:38 PM.

  3. Member
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    Coral Springs, Florida
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    #3
    Quote Originally Posted by BoilermakerZ519 View Post
    I am a big DIY guy. I ran my numbers but I still hired two different firms to independently check my work. (The first one was good but didn’t quite hit the mark.) Retirement planning is I figured too important to leave to my own devices. It was good to get confirmations from my own analysis but the true value came from my ask for a roadmap for my finances throughout my retirement. I wanted to walk away with a map to help me navigate how to maximize my chances at wealth accumulation and minimize taxes.

    Heads up that fidelity has a great Monte Carlo tool available that can be used for free I believe. This tool’s output was very very close to the software used by the pros. It makes sense since it is just math.

    good to hear it went well for you too. I found that finding a “cost only” thoughtful planner is very difficult. I guess there is just too much money to be made by using the assets under management model…which in my situation at least, is a waste of money.
    Before I met with the CFP I used the one at Fidelity as well. Like you said it was very close.