Comments on: What charges are associated with using a financial planner for retirement funds? http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/ Thu, 17 May 2012 21:30:08 +0000 http://wordpress.org/?v=2.7 hourly 1 By: NunyaBidNess_PartDeux http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/comment-page-1/#comment-1107 NunyaBidNess_PartDeux Tue, 24 Feb 2009 03:43:09 +0000 http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/#comment-1107 a financial planner worth anything more than a bucket of warm spit will charge you by the HOUR. If you are getting charged commission, then that FP is selling you a product he/she gets paid for which is a GROSS conflict of interest. a financial planner worth anything more than a bucket of warm spit will charge you by the HOUR.

If you are getting charged commission, then that FP is selling you a product he/she gets paid for which is a GROSS conflict of interest.

]]> By: walt17jr http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/comment-page-1/#comment-1106 walt17jr Sat, 21 Feb 2009 12:57:13 +0000 http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/#comment-1106 There should not be any charge to roll your funds over and set up your new accounts. There will be fees associated with the particular funds you purchase and trading costs. But with the amount of your investments, account fees should be low. Check with your current bank and find out what investment services they offer. Then do the same thing with a large bank such as Bank of America. Next check out a broker, Charles Scwab or Vanguard. Compare their fee structures and products. Keep in mind that they will all be after your money, so be careful and don't sign up until you have compared several companies and carefully considered the pros and cons of each. You should be able to place your money in a variety of products. Some conservative growth funds to protect you from inflation as well as tax free bond funds. Ideally you will be able to roll your retirement proceeds into a ROTH IRA. That will make all future proceeds tax free. There should not be any charge to roll your funds over and set up your new accounts. There will be fees associated with the particular funds you purchase and trading costs. But with the amount of your investments, account fees should be low.

Check with your current bank and find out what investment services they offer. Then do the same thing with a large bank such as Bank of America. Next check out a broker, Charles Scwab or Vanguard. Compare their fee structures and products. Keep in mind that they will all be after your money, so be careful and don’t sign up until you have compared several companies and carefully considered the pros and cons of each.

You should be able to place your money in a variety of products. Some conservative growth funds to protect you from inflation as well as tax free bond funds. Ideally you will be able to roll your retirement proceeds into a ROTH IRA. That will make all future proceeds tax free.

]]> By: Pepper http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/comment-page-1/#comment-1105 Pepper Wed, 18 Feb 2009 11:59:08 +0000 http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/#comment-1105 WEll it all sepends on who you use and whats involved. My advise to you is go to your bank and ask them if they have investment reps. Most banks do now adays and you can talk to them free of charge. You pay based on what you want and whats involved. WEll it all sepends on who you use and whats involved. My advise to you is go to your bank and ask them if they have investment reps. Most banks do now adays and you can talk to them free of charge. You pay based on what you want and whats involved.

]]> By: stan c http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/comment-page-1/#comment-1104 stan c Mon, 16 Feb 2009 20:17:17 +0000 http://www.secretfinance.com/blog/what-charges-are-associated-with-using-a-financial-planner-for-retirement-funds/#comment-1104 Any large Bank can help you with that. I believe we were charges about 1.5 or 2 %. Like you , I am 63 and my wife is 57 but she still works. We had our funds put into a fixed annuity. We can draw 10% a year of the balance and not be penalized but the draw back is you have to hold for 6 or 7 years before you can do a total withdraw. We are guaranteed 5% for the first 3 years and a minimum of 3% there after. It is with New York Life. If you want more info, you can email at Any large Bank can help you with that. I believe we were charges about 1.5 or 2 %. Like you , I am 63 and my wife is 57 but she still works. We had our funds put into a fixed annuity. We can draw 10% a year of the balance and not be penalized but the draw back is you have to hold for 6 or 7 years before you can do a total withdraw. We are guaranteed 5% for the first 3 years and a minimum of 3% there after. It is with New York Life. If you want more info, you can email at

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