Two Advisors Want 1% of His $2.6 Million. How Does He Say No? (FQF)

This week on Five Question Friday (FQF):

Question 1: How do you politely decline an advisor's 1% managed-account pitch and still get objective advice from them?

Question 2: Is there a net worth above which you no longer need TIPS?

Question 3: Is the bucket strategy more useful as an estimation exercise than as a system you actually run?

Question 4: What is the Golden Roth conversion window, and what do you live on during those low-tax years?

Question 5: Do you have to start Social Security at 62 to lock in the cost-of-living adjustments, or can you wait until full retirement age?

Bonus question: Is chess a good hobby to take up in your 50s, and is playing online satisfying enough?

Resources mentioned in the video:

How your Social Security benefit is determined, the simple version (SSA): https://www.ssa.gov/pubs/EN-05-10070.pdf
How your benefit is computed, bend points and all (SSA): https://www.ssa.gov/policy/docs/statcomps/supplement/2024/apnc.html
Your benefit by claiming age with a full retirement age of 67 (SSA): https://www.ssa.gov/benefits/retirement/planner/1960.html
Early or late retirement, reductions and credits (SSA): https://www.ssa.gov/oact/quickcalc/early_late.html
Medicare premiums and IRMAA (SSA): https://www.ssa.gov/benefits/medicare/medicare-premiums.html
When RMDs start (IRS): https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs
Boldin retirement planner: https://go.robberger.com/boldin/fqf-2026-08-21
ProjectionLab: https://go.robberger.com/projectionlab/fqf-2026-08-21
Challenge me to a game on Chess.com: https://www.chess.com/member/doughroller

*Join the Newsletter. It's Free:*
https://robberger.com/newsletter/?utm_source=Rob+Berger&utm_medium=ATF+Link&utm_campaign=Newsletter&utm_id=YouTube

*Join the Newsletter. It's Free:*
https://robberger.com/newsletter/?utm_source=Rob+Berger&utm_medium=ATF+Link&utm_campaign=Newsletter&utm_id=YouTube

*Financial tools I use:*

*I track all of my investments, performance, fees, and asset allocation with Empower. It's Free:*
https://go.robberger.com/empower/yt-

*I use Monarch Money to manage our budget:* https://go.robberger.com/monarch-yt/yt-desc

*My retirement plan comes from Boldin, the most robust retirement planner available at a reasonable cost:*
https://go.robberger.com/boldin/yt-

*I used Capitalize for my last 401(k) rollover. They did all of the work, and it's Free:*
https://go.robberger.com/capitalize/yt-

*My Book (Retire Before Mom and Dad):*
https://amzn.to/4d9qbhA

#retirement #investing #robberger

0:00 Intro: this week's five questions
1:08 Saying no to an advisor's 1% pitch without losing the relationship
6:45 Can you be too rich for TIPS?
9:46 Is the bucket strategy just an estimation tool?
15:47 The Golden Roth conversion window
19:46 Retire at 62 to lock in Social Security COLAs?
23:30 Bonus: should you take up chess?

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. I've since sold my websites, bought them back, and started a new website and this YouTube channel.

I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)

LET'S CONNECT

Youtube: https://www.youtube.com/channel/UC9C17-OMxa-7oRSaCtztObw?sub_confirmation=1

Facebook: https://www.facebook.com/financialfreedomguy/

Twitter: https://twitter.com/Robert_A_Berger

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

*Disclosure*: Some of the links in this description are from partners who compensate us. This means — at no extra cost to you — I may earn money if you click and sign up for a product or open an account. This creates a financial relationship that may influence my recommendations, but I only recommend products and services I believe in and would recommend to my own mom. Advertisers have no control over my content. Read the full advertiser disclosure here: https://robberger.com/how-we-make-money/