HHI and retirement planning

[formerlyak]

DH and I are in the 300+ category and have our first call with a retirement planner today. We have retirement savings in the low 7-figures and both will get a pension. Anything we should be asking in this meeting from others’ experiences?

[fryjack2]

I would ask about taxes. We are in a high tax bracket and give away quite a bit of money which helps offset some of the tax bill.

I would also think about what level of risk you are comfortable with because I am going to assume he is going to ask you how you would like to invest some of your assets.

[ohgillian]

That's awesome that you are starting w/a planner.

I found that my first meeting w/my advisor was more her asking me questions -- she needed so much information to be able to do help me plan. About all my accounts, about social security, about my plans for retirement.

I guess one question to discuss is whether and to what extent you want her/him to take social security income into account. I *think* I ended up using half of what the SSA projects for each of us.

Also, you may already be clear on this part, but I would want to know what services she provides, what the fees are, etc. How often she/he plans to meet with you, basically, how the whole thing will work.

[minzy]

Maybe ask if he can tell you when you might be able to retire, under x, y, and z scenarios.

[minzy]

Also if it’s of interest to you, ask about environment/sustainable/renewable/social justice funds. (We just had a brief call with someone at Fidelity and are now buying some of those.)
www.fidelity.com/mutual-funds/investing-ideas/socially-responsible-investing

[steamboat185]

We’ve had bad luck with planners so far. We defer a good bit of DH’s income because we don’t need it and it lowers taxes and no one we’ve talked to really has much advice.