Scenario:
I’m 59 and principally retired. Spouse is 56 and nonetheless working full-time.
We’re severely considering totally retiring in 2025 and transferring to a LCOL nation in Central America or Europe.
We at present have roughly $1.25m underneath administration with our CFP with a big brokerage agency—Roths and conventional IRAs. Plus one other $250k outdoors of that in two 401ks and money. So name it $1.5m in retirement funds. For the funds underneath administration, my charges are $2000/yr plus 1.25% of the funds. So roughly $18,000 yearly for his providers.
As soon as we retire and transfer, I’m estimating we are going to want roughly $30k per yr withdrawn, plus my SS as soon as I hit 62. So I’m conservatively estimating a 3% annual withdrawal, nicely underneath the 4-5% rule.
What troubling me is that I’m successfully “shedding” half of my annual revenue must my ongoing CFP charges.
I’m severely contemplating chopping ties and placing the $1.25m into low-cost, conservative funds that I can handle myself, and hiring a tax accountant to make sure my portfolio is optimized for my retirement wants.
Whereas I’m hoping that my portfolio will outperform my withdrawal price, the additional $18k saved yearly goes a looong means towards protecting my annual nut whereas sipping Mai Tais and taking part in shuffleboard.
Ideas/opinions? Am I oversimplifying issues right here?
Edit so as to add: as soon as we promote our home and automobiles right here, we pays money for home and automobiles there. No debt, no mortgage or automobile funds. Well being care might be very cheap in comparison with the US (and certain higher).