How Retirees Are Being Misled (Real Examples)

[@j10001]

6:45 😂 I’ve cut my own hair for 35 years and worked at the highest professional echelons in the world. It has always looked excellent, it’s faster than going to the barber, and I get exactly what I want. The best thing is _my_ barber (myself!) knows my head and the quirks of my hair better than any other barber I’ve ever met. That’s said, financial planning is a bit more involved than a hair cut!

[@onedegreeadvisors]

Ha!! I'm sure it looks great! Thanks for watching.

[@ivanvarykino8202]

Some great points! Instead of counting my pennies after losing my wife in my 50's, I got a financial planner to craft a plan. Yes, took me 3 years and 2 planners to get it right. Now i have the confidence and freedom to spend. Met a gal who speaks my 2nd language and we are having our dates in different coutries around the world. Never imagined life could be good again after tragedy. I do all my own house, re landscaping of my property, walking, bought a home gym, shopping. Meanwhile my same age neighbors sit insude and hire out all their services. Not for me. If I go, it's going to be with a bang. Not a slow decline! Life is awesome again at 60!

[@onedegreeadvisors]

Sorry for your loss and well done to you for making the most of your life. Thanks for watching.

[@superlead1002]

Hi Anthony, I'm all in paying for quality financial advice. My great concern is what I'm paying. It seems many CFP's charge somewhere around 1% of assets under management. The dilemma I have is this; if you have two perfectly identical clients in every way except one has $500k under management and the other has 1 million under management, the 1M client is paying double in fees for what should be the same level of service. I would much rather pay a flat fee and not feel I'm being taken advantage of because I may have saved more than an otherwise identical client. I already did most of the heavy lifting through diligent savings and sacrifice. Am I wrong looking at it this way?

[@onedegreeadvisors]

Great question. It demands a more detailed answer than what I can offer here :) - I'll think about how we can possibly address this in a video. In the meantime, here are my high level experiences with this: -It does come down to your preference. (XY Planning Network lists a lot of advisors who do flat fee or hourly work.) -As a (very) general rule, complexity increases with more money. - You are right that you have done the heavy lifting. We believe we are a guide to our clients. It's their journey but we aim to lighten the load, so they can be free to do what's important to them. While this plays out in doing a lot of the "legwork" for them, I think more importantly, it's giving them the confidence that comes with focused, consistent collaboration. Thanks for watching! -Anthony

[@wesm3848]

Not sure why you (and other planners) always talk of retirees as couples. Way more than half are single. Speak to the real demographics, single people in retirement.

[@onedegreeadvisors]

Hi Wes, Thanks for watching. Just posted this one last month on a single person case study. Hope you like it. kzbin.info/www/bejne/hIbaqXmGmZlgj6ssi=3s6swnuIXm7UkPXU

[@j10001]

@@onedegreeadvisors Also, the vast majority of couples turn into a single taxpayer at some point (after one of them passes on), which _really_ changes the calculus of retirement! That issue is rarely covered by a financial planner on KZbin.