Fidelity Retirement Analysis

[JustinB]

Who has used Fidelity’s retirement analysis tool? It gives you a score based on your progress.

Curious how accurate you think it is.

Also, who is enrolled in a managed account where there is an annual charge? Feedback?

[TxAg]

Not very accurate. Plus, you likely have a spouse's assets/liabilities to consider to complete the while picture. Plus possible pensions or social security. There's also that pesky health insurance.

[PassnItOn]

they offer one on one's through your company. I highly recommend, they look at the whole picture including spouse info. Found it very helpful

[Mudslinger]

Find you a face to face financial advisor. Been there done that and am very happy with mine and my wife's retirement pkgs!

They helped with all the medicare and supplemental aids avaliable today!

[TWOHunter]

I like Fidelity.
I like managing my own accounts.
I think Fidelity has excellent customer service and their representatives have always been very helpful.

[JustinB]

Not very accurate. Plus, you likely have a spouse's assets/liabilities to consider to complete the while picture. Plus possible pensions or social security. There's also that pesky health insurance.

The analysis I got from them takes into account my wife’s pay, all debts, and accounts for inflation, also social security

[JustinB]

I like Fidelity.
I like managing my own accounts.
I think Fidelity has excellent customer service and their representatives have always been very helpful.

I kind of like it too. I don’t use one of their managed accounts but I’m considering it. I was thinking let them manage 75% of it and I manage the other 25%. At least for now.

Their annual fee would be just over 1% and the local financial advisor quoted me 2% of my portfolio value annually

[JustinB]

they offer one on one's through your company. I highly recommend, they look at the whole picture including spouse info. Found it very helpful

Yes I have 2 hour-long conversations with the same advisor for free. Extremely helpful

[TxAg]

The analysis I got from them takes into account my wife’s pay, all debts, and accounts for inflation, also social security

it's different than what they send me, then.

[Lip]

We have a financial advisor/fiduciary and typically have quarterly reviews with them but did a thorough review in December. We recently took advantage of a free offer from Edelman Financial Engines to get their review. It took an hour or so reviewing our details with them and then another hour or two reviewing their analysis. In our case it was just peace of mind as they confirmed/agreed the path we have gone with our advisor is right for our situation.

Make sure you are dealing with a fiduciary.
ETF's are less expensive than actively traded funds.
If you're dealing with an individual, what's their succession plan should something happen to them?
Save early, save often, I routed half of every raise I got for several years into savings in order to increase my monthly savings until I got it to the level I was comfortable with.
My fiduciary charges just over 1%. If I remember correctly Edelman was a bit more.

[Throwin Darts]

I kind of like it too. I don’t use one of their managed accounts but I’m considering it. I was thinking let them manage 75% of it and I manage the other 25%. At least for now.

Their annual fee would be just over 1% and the local financial advisor quoted me 2% of my portfolio value annually

Dear Lord that’s expensive.


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[JustinB]

We have a financial advisor/fiduciary and typically have quarterly reviews with them but did a thorough review in December. We recently took advantage of a free offer from Edelman Financial Engines to get their review. It took an hour or so reviewing our details with them and then another hour or two reviewing their analysis. In our case it was just peace of mind as they confirmed/agreed the path we have gone with our advisor is right for our situation.

Make sure you are dealing with a fiduciary.
ETF's are less expensive than actively traded funds.
If you're dealing with an individual, what's their succession plan should something happen to them?
Save early, save often, I routed half of every raise I got for several years into savings in order to increase my monthly savings until I got it to the level I was comfortable with.
My fiduciary charges just over 1%. If I remember correctly Edelman was a bit more.

Good insight. Thanks.

[Huntingfool]

check out www.firecalc.com - free retirement calculator - best one I have found - includes everything and then gives you either a month by month or year by year accounting - it is really helpful for those in or near retirement to determine how long their money will last based on inflation, taxes, withdrawal, etc. Has options to input SS, pension, etc.

[ctom87]

I will tell you in 30 years if it worked out or not.

[Rick]

The company i worked for uses Fidelity to manage our 401k. I am now retired and let them manage my account. I managed it myself for many years, but knew that it was not something i wanted to do myself long term. While i was working i slowly moved my money into a managed account. 25% at first, the 50% then all of it, I also merged a couple of other accounts into it. The management fee is way less than the 1% someone above mentioned. I also felt at one point that I wanted an in person advisor, but I have been very happy with the person assigned to my account. We have quarterly reviews and they are also available to me when i need to talk to them. There was one point during the CV crash the I wanted to talk to my advisor, I called and within 30 minutes he was returning my call, that impressed me as I knew that had to be a very busy period for them. Have been very happy the the account performance