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Old 06-10-2014, 05:24 PM   #21
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....It does raise another question (which may be why I need "professional help" with all of this). My current "taxable savings accounts", and even some of the tax deferred accounts, all include a combination of various mutual fund shares, but also a number of individual stocks. If/when I were to "liquidate" those (as I assume I would do if I consolidate everything to something like Vanguard mutual funds), I would be subject to pretty large capital gains taxes. I'm assuming I wouldn't really ever want to do that all at once, but rather just sell off those shares a little bit at a time spread out over a number of years to minimize the overall tax hit. Is there a similar program out there like i-orp that can come up with the "optimum plan/strategy" for managing all that? Or is this something best left to a professional?....
Selling securities held in your tax deferred accounts have no tax consequences, the only tax consequence is when you take money out of the account (aka withdrawals). Sale of securities held by taxable accounts do have tax consequences, but in many cases the securities themselves can simply be transferred to the new provider (for example Vanguard) without tax consequences. If you set up an account with Vanguard, they have people who can lead you through the process. Or you can always ask here.
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Old 06-10-2014, 05:40 PM   #22
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First do not even CONSIDER paying anyone on a percentage basis. It costs them the same to figure out a plan for you for an account of $1million or $3 million, but they will charge you TRIPLE the amount. I understand your reluctance to go it alone. I, too, fretted about optimizing accounts against tax liabilities. And for a time I paid 0.5% of my money to get it right. Then I discovered flat rate advisors. There are several and I now pay less than 0.08% (and as my portfolio grows the amount stays the same and the percent gets lower and lower!)
Choices include Cardiff Park Advisors, Evanson Asset Management, and FPL..
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Old 06-10-2014, 06:52 PM   #23
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I love this forum but for this question ask it here Bogleheads Investing Advice and Info they are very very detailed. When you are done show us the results. They will walk you through what to do for free.
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Old 06-11-2014, 10:38 AM   #24
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And it seems like I need someone who does know about taxes, at least enough to make sure the withdrawals from the various accounts are done in the most tax efficient manner possible?
The tax piece is the part that I struggle with the most as well. I've already gotten a lot of great information here, at least enough to figure out many of the questions I need to ask/answer. And then I'll probably engage a tax specialist at some point to fine tune the answers, especially since tax laws seem to change regularly. I also might get a financial plan review at Vanguard (it will cost me, since without my 401k, I wouldn't qualify for their free ones) once I get all of my miscellaneous accounts consolidated over there.
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Old 06-11-2014, 03:16 PM   #25
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The tax piece is the part that I struggle with the most as well. I've already gotten a lot of great information here, at least enough to figure out many of the questions I need to ask/answer. And then I'll probably engage a tax specialist at some point to fine tune the answers, especially since tax laws seem to change regularly. I also might get a financial plan review at Vanguard (it will cost me, since without my 401k, I wouldn't qualify for their free ones) once I get all of my miscellaneous accounts consolidated over there.
There is a specialist designation for CPAs called a PFS or Personal Financial Specialist and what you want would be in their wheelhouse. You can find one at CPA/PFS Credential Holder Directory

That said, most find it is best to withdraw first from taxable accounts, do Roth conversions as they can to the top of the tax bracket they will be in once SS and RMDs start and tap tax-free accounts last, but it is best to do some analysis to prove or disprove what is best in your circumstances.

i-orp is also a useful tool, though sometimes difficult to understand the rationale for its results.
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