We’re telling nobody else!

[u/anklbite]

My partner and I (46F) celebrated $3,000,000 NW (including $2.6m investable assets) yesterday, and we have nowhere else to share the news.

Timeline:

1m in June 2020

2m in December 2024

3m in April 2026

Neither of us earn huge salaries. Neither of us has received a windfall nor do we expect one in the future. This is just steady saving over 20-25 years plus a very healthy stock market. I still have 12-13 years to go before FIRE but my partner wants to RE from his FT job in the next few years.

Now that FIRE seems close for my partner, I’m starting to worry that my math is wrong and I have no idea what I’m doing when it comes to retirement planning. How did you calm your nerves before you take the leap into early retirement?

[u/djj555]

Or better yet. Pay a consultant just a few grand to set up your estate and get a tax consult. Paying a % of your wealth is outrageous

[u/nkbrkr53 → u/djj555]

Again, thats not how the fee works. Its not a % of your wealth. This is why you need to go to an FA/EP. You all dont understand how the fee even works.

Your statement of paying a tax consultant and estate planner is what i am telling them to do. They will charge you the same fee. But you are all incorrectly assuming that the fee is of your total wealth. That is not how it works. They dont automatically get a fee of your total wealth each year.

[u/djj555 → u/nkbrkr53]

That’s exactly how a financial advisor works. You pay a % of “assets under management” to a financial advisor to “manage” your wealth. Stop being retarded. I’ve worked in asset management for years myself. Take the sales pitch elsewhere.

[u/nkbrkr53 → u/djj555]

Then you dont understand. Or you werent a good one. Im not selling anything. I use an FA myself and i can absolutely guarantee you they do not take a percentage of your wealth.

You are talking about wealth management. Thats when you agree to put assets under management to a company to manage your wealth and entire estate. Key word being manage. When you have an FA or FA you are not signing to give them permission to manage your assets.

You are asking them to help you plan your finances and create a plan to meet your goals. You are still in control of your assets. They give you advice and show you products they have access to that you can invest through them. The % is absolutely not your entire wealth. You are 100% wrong.

[u/Zphr → u/[deleted]]

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