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Old 01-05-2016, 10:47 AM   #1
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Savvy 4 here. New 2 the site. 75 years young, retired wife & I ... reasonably good health ... hoping 2 find ideas 2 help us grow and keep our investments, presently in the mid-6 figures with 1/2 taxable Fidelity 1/2 Tax-deferred Vanguard. Toying with idea turning investments over to an Adviser, i.e., Fisher, 2 manage. Not keen on idea of turning over entire portfolio to others and departing from current MF strategy. Any thoughts anyone? Looking for 2nd opinion ideas, pro or con. Thanks.
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Old 01-05-2016, 11:24 AM   #2
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Welcome savvy4 -

My first instinct is to advise to do a simple index fund couch potato portfolio (can be as simple as 2 funds - a total stock index fund and a total bond index fund). Rebalance to your preferred asset allocation annually, and be done with it.

That said - you are in the age range to start considering the ramifications of declining cognitive function as you age. (Not saying you're there yet - but saying you're at the point to consider it in the future). That might mean it makes sense to have a professional invest for you. But you need to pick a professional carefully. Since your goal is grow the money I'd stay away from annuities, active funds with their loads, etc. because all those fees/expenses limit your opportunity for growth - your stated goal.

There are some lower cost options for managing money - the computer does the balancing and trading based on fixed asset allocations. Vanguard, Fidelity, and Schwab all offer this option for a lower fee than the typical advisor.
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Old 01-05-2016, 11:55 AM   #3
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with mid-6 figures and being 75 I don't think you need to be so worried about an advisor. Just do it yourself with some widely diversified funds that is meeting your allocation desires. You could even do all in one mixed type fund that takes care of the allocation for you. Then just take the distributions in cash and sell as needed to supplement.
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Old 01-05-2016, 12:08 PM   #4
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With the very limited info we have it seems to me that you've done pretty well so far. If you decide to self-manage and do worry about cognitive issues, you could always pick a balanced or allocation fund as mentioned above and just leave it there. No changes would likely be needed once you pick one that matches your preferred asset allocation.

I'm a bit tainted though because my personal experiences with advisors has been poor.
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Old 01-05-2016, 03:35 PM   #5
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If you want simple and tax efficiency isn't a priority, you could just go all in Vanguard Wellesley in both accounts and continue to enjoy your retirement. You'd probably end up with better returns than with an adviser.

What is your targeted asset allocation? % stocks, % bonds and % cash.

If you really want an adviser, Vanguard offers a service for 0.3%.
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Old 01-05-2016, 03:44 PM   #6
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If you want simple and tax efficiency isn't a priority, you could just go all in Vanguard Wellesley in both accounts and continue to enjoy your retirement. You'd probably end up with better returns than with an adviser.

What is your targeted asset allocation? % stocks, % bonds and % cash.

If you really want an adviser, Vanguard offers a service for 0.3%.
+1

An advisor is primarily overhead.
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Old 01-05-2016, 05:33 PM   #7
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Didn't think of the Wellesley or Wellington option.

I'm changing my answer to that!!!
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Old 01-05-2016, 06:42 PM   #8
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I currently have a ton of funds in both mine and my husbands retirement accounts and then there's the brokerage account and yet another bunch in an inheritance account. I am beginning to get a bit overwhelmed. I don't touch any of them= just let them ride.

I have thought about putting them all into one or two funds but even the thought of that makes me shake. A lot of work....

I am thinking of just eventually calling my mutual fund company's advisory services as well because I am really thinking it might be hard to find a fee- only, objective adviser in our area.
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Old 01-05-2016, 10:57 PM   #9
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I currently have a ton of funds in both mine and my husbands retirement accounts and then there's the brokerage account and yet another bunch in an inheritance account. I am beginning to get a bit overwhelmed. I don't touch any of them= just let them ride.

I have thought about putting them all into one or two funds but even the thought of that makes me shake. A lot of work....

I am thinking of just eventually calling my mutual fund company's advisory services as well because I am really thinking it might be hard to find a fee- only, objective adviser in our area.
If you go to one of the big brokers (Vanguard, Fidelity, Schwab as examples) they can help you with all the rollover paperwork and then you can consolidate into a few accounts: yours and husbands IRA accounts, and the inheritance account. Once you have it in the few accounts, then decide how to invest it. The easy way is pick a fund that does the allocation for you. Like Vanguard Wellesley or Wellington as cited above. Or just pick a couple fund groups, one stocks and one bonds/income and invest per your desired allocation ratio. Depending on your total assets value, you can probably get some advisor help for free, or at low cost since you are consolidating under that brokerage house.

It really is a lot easier to keep track when you have less total accounts to monitor. Also easier if it is all in one place as well. Just gather all of your soon to be arriving year end statements, and then set up an appt with whatever broker you choose. No tax consequences if you do rollovers.
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Old 01-06-2016, 05:26 AM   #10
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Agree with the above. Also, no tax consequences if you make moves within a retirement account. You could sell everything and reinvest everything in a simple 1-3 fund portfolio. No cap gains tax to pay.


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Old 01-06-2016, 06:35 AM   #11
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If you go to one of the big brokers (Vanguard, Fidelity, Schwab as examples) they can help you with all the rollover paperwork and then you can consolidate into a few accounts: yours and husbands IRA accounts, and the inheritance account. Once you have it in the few accounts, then decide how to invest it. The easy way is pick a fund that does the allocation for you. Like Vanguard Wellesley or Wellington as cited above. Or just pick a couple fund groups, one stocks and one bonds/income and invest per your desired allocation ratio. Depending on your total assets value, you can probably get some advisor help for free, or at low cost since you are consolidating under that brokerage house.

It really is a lot easier to keep track when you have less total accounts to monitor. Also easier if it is all in one place as well. Just gather all of your soon to be arriving year end statements, and then set up an appt with whatever broker you choose. No tax consequences if you do rollovers.

Thanks. Yes, they are already in one place with with my big broker and so no rollovers necessary.
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Old 01-06-2016, 09:32 AM   #12
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Thanks. Yes, they are already in one place with with my big broker and so no rollovers necessary.
You still may be doing rollovers, as you will be consolidating all of those old 401k/403b type accounts into one self-directed IRA account; one IRA for you and one for husband. I assume the inheritance account is after-tax or maybe an inherited IRA; however it can still have some consolidation done to simplify. Think of rollover not as changing the broker, but as ending the old account and placing those funds into the new account, as a direct transfer. Since you have several old accounts, you can transfer it as cash by selling all of the assets. Then in the new IRA account you will collect the cash from all of the various old 401k/403b accounts. Then invest that cash into new funds according to your allocation and risk tolerance.
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Old 01-06-2016, 09:50 AM   #13
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You still may be doing rollovers, as you will be consolidating all of those old 401k/403b type accounts into one self-directed IRA account; one IRA for you and one for husband. I assume the inheritance account is after-tax or maybe an inherited IRA; however it can still have some consolidation done to simplify. Think of rollover not as changing the broker, but as ending the old account and placing those funds into the new account, as a direct transfer. Since you have several old accounts, you can transfer it as cash by selling all of the assets. Then in the new IRA account you will collect the cash from all of the various old 401k/403b accounts. Then invest that cash into new funds according to your allocation and risk tolerance.
Yes. I have done this all before. Everything I have is in self directed IRAs and an inherited IRA and a brokerage account at the same company. No 401ks to roll over right now.It's just that we have a lot of funds within the IRAs and in the inherited IRA and the brokerage acct.
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