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I’m a single woman about to retire at the end of the year. I want to set up a “Set it and forget it” financial plan that will last for at least 30 years.
I’ll be receiving about $17,000 from social security and my expenses will be about $50,000 per year. My home is paid for.
For assets, I’ll have around $150,000 in a taxable account, and $1,100,000 in 401K/IRA ROTH accounts.
My problem is that $720,000 of the 401K will be in cash (as a result of a payout from my company 401K plan).
I’m considering signing up with Fisher Investments (charging 1% or 1.5% of my account as a yearly fee)
My brother is recommending that I either move all of my accounts to Vanguard and use their financial planning services, or skip the financial planning and invest as follows for a “Set it and forget it” plan:
VGSTX – 30% - A conservative fund of funds.
DODGX – 20% - An aggressive low cost actively managed large value fund. I already own some, so it’s being closed isn’t an issue.
VSMGX – 30% - A conservative indexed fund of funds.
VWENX – 15% - A conservative actively managed fund.
DODFX – 5% - A bit of foreign exposure to add to the DODGX foreign exposure.
I’m thinking on using another fee based financial planner, but I really don’t know WHAT to do.
Any suggestions?
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