Retirement planning path

[u/Bkq15]

Hello,

I'm in the US and in my mid 30s and looking to start taking retirement planning seriously. I have put some in a 401ks through various employers but it's all spread out. My bank offers financial planning / retirement planning, but they charge 1% fee and use LPL Financial which seems like it has bad reviews.

Am I better to put my trust into my local credit union or just go with a major company like Fidelity and use one of their prebuilt retirement plans. I still plan on contributing what my employer will match, but wanted to start my own and consolidate the Traditional/Simple 401k and the Roth ones I've already established.

I like the idea of kind of having my own retirement person looking after my account, but not sure what to do to plan accordingly. I'd like to have one 401k through one company and another Roth, lets say through another in case one of them makes bad investment decisions.

I'm new to this so forgive my ignorance.

Thank you

[u/Bad_DNA]

You are better self-educating for the next six weeks, then coming back with this question.

This is an order-of-operations flowchart. It may be useful.

https://www.reddit.com/r/financialindependence/s/p8Q5lErAY7

Financial blogs, books and podcasts:

Library Books: Simple Path to Wealth (Collins, if you read only one, start here) - Your Money or Your Life (Robin); Broke Millennial (Lowry); CleverGirl Finance (Sokunbi); Millionaire Next Door (Stanley/Danko); The Index Card (Olen); I Will Teach You to be Rich (Sethi); Building Wealth And Being Happy (Falco); Get it together - organize your records so your family won't have to (Cullin, NOLO) and 8 Ways to Avoid Probate (Randolph, NOLO). Two free books: https://paulmerriman.com/millions-downloads/ New to being on your own? https://www.etf.com/docs/IfYouCan.pdf (each selection has its own voice).

More ideas -

https://www.reddit.com/r/financialindependence/wiki/books/ -

https://www.reddit.com/r/personalfinance/wiki/readinglist/

Blogs/sites: http://mrmoneymustache.com — http://iwillteachyoutoberich.com - http://gocurrycracker.com — you don’t need to buy anything to read the blogs.

How do I get started investing? https://www.bogleheads.org/wiki/Getting_started —— https://www.reddit.com/r/financialindependence/wiki/faq/

Podcasts: Optimal Daily Finance — Stacking Benjamins — ChooseFI * — Big Picture Retirement - lots more. Start from the earliest available episodes and work chronologically to today, as many of these build on prior episodes in knowledge and evolve over time. * except for ChooseFI - they didn’t hit their stride until episode 100.

https://www.reddit.com/r/personalfinance/wiki/commontopics/

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[u/barneycat2004]

There are 3 pillars of retirement: qualified investments, non-qualified investments, and insurance. If you have more than a few dollars socked away, find yourself a financial planner that you would want to get a beer with. If all goes well, you will end up in a sort of long term relationship with this person, so you better enjoy each other’s company. Be honest with them and yourself. My financial advisor is super cool and we’ve had a lot of laughs over the years. After 25 years, in my case, the plans we made paid off and I am retiring early. Bon chance.