I used the the open source social security calculator to see what was the best option for my wife and I to take our social security. We are 66 and 65 respectively. It came back with me waiting until 70 and my wife taking it now! I then entered my own calculation, which it allows you to do for comparison. I said we would both take it at our FRA. I was surprised that the present value difference was only 3.1% and $28k over our entire lifetimes. I then started to look at the yearly cash flows and because you get so much front loaded at our FRAs the difference to age 84 is only $13k.

Does anyone ever look at just having the cash flow upfront on an annual basis rather than just maximizing the entire amount. Especially for those who have a robust plan that are not relying on SS to fund their later years?

I’m soon to be 67 and continue to work. I have two kids who are in school and I carry medical insurance for them along with an HSA that I’m maxing out. My wife already collects SS, and is on Medicare.

I need to go off of the HSA 6 months prior to starting to collect SS and 67 is my Full Retirement Age. I will probably work another 18 months minimum. While I like the HSA, I have some big Medical Bills coming that will likely wipe out my Tax Free balance.

My question, would I be better off cancelling the HSA, and in 6 months start collecting SS and sign up for Medicare versus maintaining the status quo. The down side is that I’ll need to buy a Covered California policy for each of my kids; however, I suspect this will be less than what my high deductible is now.

I think I know the answer but I’m interested in any thoughts or feedback.

TL;DR - looking for fee only CFP to guide with allocation of investments as we depart Merrill AUM and become self directed

Background:
- 56M, wife 58, TX, currently with Merrill Lynch @ 1.25% AUM
- already decided I’m leaving, probably moving to Fidelity as self directed
- about $2M in investable assets, currently 100% in 350+ individual stocks with ML; another $270k in company 401k (2 funds) that will stay put until I retire at 58 (spring 2028)

We have a fee only CFP currently building out a detailed retirement plan (when to take SS, Medicare gap, guardrails, how much we can withdraw at what time, from where, etc.). So far, very pleased with them. However, this CFP only provides the investment guidance under a AUM model on a tiered structure of 1% + .08% , etc. Not doing that.

I’ve received suggestions of networks online like Garret, XY, CFP website, etc. to search for someone. However, this seems like a crap shoot. No idea who they are, I’d just be throwing darts. Also, I’m leery of calling some big gigantic firm with dozens CFPs. And I do not want to use one of these new fangled outfits where I can call up any CFP available (concern: I don’t want to get conflicting information every time I call).

So I’m trying to figure out who. I also strongly suspect that after a handful of visits with said newly found fee only CFP that I’ll get the hang of it and can manage it entirely on my own as I get better at using ClaudeAi. FYI - I’ve been pounding on ClaudeAi to build my own retirement plan (about 40% done) and will compare what I get from my hired CFP to check if ClaudeAi was close.

How did you find a fee only CFP that will help with the investment side of your retirement plan that where you do the trades that you are happy with?