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Old 03-24-2018, 03:53 AM   #61
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Originally Posted by GoBears View Post
Used the firm’s approved broker to manage my 401k investments after I made partner. Good news is that the sales loads were waived. Bad news is he charged 1% of AUM and expense ratios were not cheap. A decade or so passed and I discovered under the plan that I could self direct with Schwab. Since the AUM fee accounted for about half of my annual contributions, I immediately transitioned from 20 actively managed funds to the self directed account. The 401k is now held in 4 index funds.

I kept $200k or so in my 401k on the sidelines in cash after the 2008-09 recession, while still with the advisor. I was in my late 40s and had no real understanding of asset allocation at the time.

Thankfully, I never sought help from advisories for my IRA or taxable account. But, it took me several years to grasp tax efficiency principles for the taxable account and even longer to discover the benefits of index funds.
Didn't discover Index Funds until a year before retirement, but the lack of knowledge did help me stay fully invested in 2008 and the turnaround. Go figure.
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Old 03-24-2018, 08:04 AM   #62
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DW had stock options worth about $75K during the tech run up in 1999-2000. Of course we decided to hang in there----they expired worthless. Didn't really lose the money but could have had a nice gain.
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