I'm the most financial savy person in my family. More than the average person, but not necessarily an expert. My parents have been retired from government jobs for the last 2 year, and have aproxaimtely $1.5 in their retirment accounts. They will both receive $6000/month between SSI and their govemernment pension. Over the last 2 years they have not had to dip into their retirment accounts and have comfortably lived on the SSI and government pension.
The question is, do they need a financial planner/advisor if they could just leave their $1.5 million in the G fund (TSP plan) and not touch it. Is it worth the potential risk of moving the money out so the advisor can do their thing, or should it just remain there and while it may not grow a lot, it wont go down either.
For their situation, of not touchign their retirement account, not needing an extravegant lifestyle, I am not sold on the financial advisor when they could get some basic return just it sitting there and getting a small return.
Is the difference between G fund and an advisor is the potential loss due to inflation.