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FireBreather7575 t1_j298q1k wrote

I’m not sure what the problem is with how your father passed. He had a bunch of money and spent it. Maybe that was his plan. Knowing how much you can withdraw (3-4%) is kind of easy for someone who knows the basics of investing. You haven’t provided any details that day he didn’t retire because nobody told him he had enough money

I’m not sure what you’re hoping to get out of EJ other than a false sense of security.

In terms of your wife’s family being happy with EJ - based on what? For someone handing off wealth management, they have no basis of comparison. Are they comparing their returns to the market? It’s like evaluating a doctor - for the most part, outside of bedside manner, how can you evaluate if someone’s doing a good job? A doctor who had a patient die from cancer may be doing a better job than one whose patient lived

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Cautious_Second7321 OP t1_j29cin6 wrote

Agree with the withdrawing 3-4%. But from which accounts and how taxes play into that decision is what boggles me.

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FireBreather7575 t1_j29e30q wrote

I don’t know how complicated your portfolio is, but my guess is you can do enough research to get close enough. You don’t have to optimize perfectly. I don’t think EJ will optimize perfectly. I assume with little research, you’ll beat them, post fees.

In terms of spending down, yes the conventional wisdom is 3-4%. This basically keeps your principal value the same. But you can also go crazy and why not try to optimize by dying with zero. What would have been the point of your dad dying with 6m vs 1m? I’m not saying that’s right for you, that could have just been the decision he made

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Cautious_Second7321 OP t1_j29gjxc wrote

Ah gotcha. Yea, two different ways of thinking I suppose. You could say he did it right. Lived the life he wanted to and didn’t wait for the retirement he never would have seen anyway. He nailed it. However, he did say he failed my mom at the end. Which leads me to believe he did not feel he did a good job including her in a retirement plan which relied quite a bit on him getting a salary at the end.

Appreciate your perspective!

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Cautious_Second7321 OP t1_j29c7ur wrote

I always thought it would be wiser when you have that much money, to live off of the interest rather than just spending all of your cash.

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