How many totally manage their own nest egg?

[albireo13]

I am curious ... how many folks totally manage their finances themselves ... no FA or service?

We currently have a FA (Raymond James) managing just my IRA. (~$440K).
I also have a 401k and pension that I will be getting plus my wife has a 403B and pension. His fee is 1.3%. I am not excited about that and am thinking of moving everything into Vanguard index funds when I retire next year ... no FA. I would like to be a hands-off investor.

 

[REWahoo]

This needs a poll...


To answer the question, I do.

 

[Bruceski44]

Using index funds makes self-management possible - all you'll really need to do, after determining which funds and your allocation to them, is to re-balance periodically.

I manage all our finances myself, but, importantly, I've also identified a FA my wife could work with after my death, should I die before her. This is a person I trust and who is familiar with my approach.

 

[audreyh1]

We do. Seems like most here do.

 

[gwraigty]

I agree that a poll would be more helpful. Otherwise, yes, I manage our finances and investments without any outside assistance.

 

[CRLLS]

I do for both DW and myself.

 

[Amethyst]

Have never had a FA. We do have a CPA to do our taxes. Every year I say "This year we'll do them ourselves!" and then something happens to shake my confidence.

 

[OldShooter]

We have never paid anyone to run our money and certainly would never pay 1.3%.

Here is a chart that I use with my investment class:

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Buy and read "The Coffeehouse Investor" by Bill Schultheis and "The Bogleheads' Guide to Investing" by Larimore et al and you will know more than your FA.
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Re moving everything to Vanguard Index Funds "next year," you should be there now. Why wait a year, which will almost certainly cost you at least 2% in underperformance? That's more than his fee.

 

[Yoheadden]

I manage all of my own finances. A few years ago I moved all of my larger accounts over to Vanguard. I use the main indexes and branch out to some specialised funds for diversity. They offer good tools for research and I love the fact that I only have to look at one screen for my financial picture. Why pay someone for something that I can do.
Just remember to KISS (Keep It Simple Stupid)

 

[Fermion]

I pay a fund manager 4% a year to manage our portfolio. He just happens to be me.

 

[targatom2019]

with the help of good people on this forum and boglehead I am now managing my own account with just 3 funds.

 

[candrew]

Solo.

 

[pb4uski]

DIY.... but I am a retired CPA and worked in the finance industry... but it's not rocket science and I think that anyone with a good head on their shoulders can easily DIY.

 

[Dtail]

with the help of good people on this forum and boglehead I am now managing my own account with just 3 funds.

Exactly the same for me. (Plus CD's)

 

[Doribe]

This needs a poll...


To answer the question, I do.

+1

 

[travelover]

I can't afford a financial advisor, though I told my wife that if I get too senile to go to Vanguard and pay the 0.3%

 

[ziggy29]

Even index funds have managers.

 

[Bruno]

with the help of good people on this forum and boglehead I am now managing my own account.

I had a FA but after a couple of years when he was making more money off my funds than me. We parted ways but i got a few more than 3 funds.

 

[OldShooter]

Even index funds have managers.

Computers, mostly. And index funds don't have advisors, which is the OP's context.

 

[W2R]

I am curious ... how many folks totally manage their finances themselves ... no FA or service?

We currently have a FA (Raymond James) managing just my IRA. (~$440K).
I also have a 401k and pension that I will be getting plus my wife has a 403B and pension. His fee is 1.3%. I am not excited about that and am thinking of moving everything into Vanguard index funds when I retire next year ... no FA. I would like to be a hands-off investor.

I have never had an FA, a service, or even advice. I am almost entirely self taught. Well, except when I was 5-6 years old my now dead father told me to always diversify. Took me a while to figure that one out. Later when I was first starting out my big brother told me about Vanguard. Then I found "Vanguard Diehards" on the Morningstar site, and when it went a bit crazy I followed over to the (then new) Bogleheads website that splintered off of it. I got most of my understanding of investing from reading and studying books on the Bogleheads book list. That's it in a nutshell. I am a buy and hold index fund investor, with Vanguard and the TSP (=401K).

 

[tsoispf]

Been free from Ameriprise 5 years now, ever since discovering the Bogleheads website.

 

[freedomatlast]

I manage our finances and investments, including our rental properties, without any outside assistance.

 

[bolt]

Please read 'Modern Money Mechanics' and Bogleheads.org advocacies, as well as a few of its recommended books.

Do not kid yourself, you're probably paying more in fees.
I'd bet* that 1.3% is an AUM fee on top of the funds expense ratios, plusother fees!
I've always DIY, since the 11/12% Mass muni bond funds of the 80s.
Good luck!

 

[Samething]

I manage my investments myself. Have accounts at Vanguard and Fidelity. CD’s treasures etc..I keep it as simple as I can. Have a CPA that I’ll use at tax time.

 

[jim584672]

Self managed. Worked in the securities industry so I am familiar with investments.