Feedback for my portfolio-Wells Fargo Intuitive Investor and ITOT

[Mr. 356 S90]

Hello,
Glad to be here as a first time poster. I have enjoyed what I have seen from posters and the information has been valuable. I am considering the following portfolio as separate stand alone investment. $60K cash, $100K ITOT, $255K in Wells Fargo Intuitive Investor Robo Advisor that currently has a 34% allocation to equites with the rest in well allocated bonds and 3% cash. This results in about 46% equity allocation for the entire portfolio. In 2-3 years I will take out 3% annually adjusted for inflation when needed. I would rebalance when the allocation gets to about 50-55% withdrawing from ITOT and depositing into the taxable robe advisor. ITOT would be in a Traditional IRA and the rest is taxable. In my opinion this is like a 2 fund simple portfolio making everything easy. So everyone...what say you? Thanks!

[OldShooter]

What funds does the robo use for equities?

[Mr. 356 S90]

Itot- 16%
vxf - 12%
gslc - 6%
pvy- 5%
gem - 4%
vv - 1%

[Bamaman]

I have Wells Fargo for my checking account because they have good computers and bill pay.

Otherwise, they're villains of the banking world in my eyes. Especially in their investment division.

Do the big budget investment firms have products that would suit your financial needs? They usually have something for everyone.

[Aggie1999]

Why go with the Wells Fargo robo advisor? A robo advisor's claim to fame is tax loss harvesting. With ~65% in bonds and cash, not a lot of chance to tax loss harvest. Then their is the universal problem of robo advisors where once new money stops coming into the account, tax loss harvesting opportunities get less and less. Then of course there is that 0.35% fee on all managed assets from the robo advisor, even on the cash.

Personally I'd ditch the robo advisor and just manage the money yourself in a 2 or three fund index portfolio. No need to make things overly complicated.

[Mr. 356 S90]

We also bank at Wells for the checking and bill pay at a brick and mortar. Have been with them for 15 years with no issues. And DW prefers a brick and mortar. The Robo has been great so far. Regardless of who we use for the robo, my question is more generic in nature, having approx. 35% in a robo and ITOT in the IRA.

[Mr. 356 S90]

Hi Aggie 1999, good point. The cash is only 4% and luckily we pay the lower .30bps instead of the .35 because of the balance amount. Yes i guess we could pay a little less somewhere else or buying individual etc"s but we are liking the convenience so are ok paying for it.


Bamaman, Yes, there are other robo's and I could certainly check them out.

[OldShooter]

Quote:

Originally Posted by Mr. 356 S90 Itot- 16% vxf - 12% gslc - 6% pvy- 5% gem - 4% vv - 1%

Well, that isn't too crazy. Probably they are scratching Goldman Sachs' back where G-S is scratching Wells' back on some other deals. The expense ratios are not outrageous, though using emerging markets as the international holding is a little odd. Essentially that is a bet on China. VV at 1%/3% of equities is silly. Too small to matter.

Quote:

Originally Posted by Mr. 356 S90 ... In my opinion this is like a 2 fund simple portfolio making everything easy. So everyone...what say you? Thanks!

Well, if a 2 fund portfolio is the goal (not a bad idea BTW) why not just do a 2 fund portfolio? You have proposed a complicated alternative where complexity doesn't appear to be buying you anything. (Simplicity is nice; 95% of our equity investment is in one fund, VTWAX.)

My standard book recommendations:

"The Coffee House Investor" by Bill Schultheis https://www.coffeehouseinvestor.com/

"The Bogleheads Guide to Investing" by Taylor Larimore et al https://www.amazon.com/Bogleheads-Gu.../dp/0470067365

Also look here: https://www.bogleheads.org/wiki/Getting_started

Edit: "356 S90" ? Porsche 356 Super 90? My second sports car, following a 3-carb Austin Healey 3000, was a 356B Normal.