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Investing After FIRE
Old 03-05-2021, 02:40 PM   #1
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Investing After FIRE

Widowed empty nester. 60 Laid off a few years back and I just started to take my Pension. I have been to a few Financial Advisors and they all say I am fine. Just trying to get myself organized. Thinking of downsizing in a few years. So here is the big question...Where do you invest now when all the boxes have been checked? I mean we all could hone our plan a bit, whether to move here or there, whether to pay this or that off. But what if it is all basically fine. Do you invest in a Robo, Personal Capital, Fisher, Vanguard, Edward Jones, Schwab, Fidelity or some local Guy/Gal. Or do you just sort of manage it yourself. I have Fisher or some other group calling me every week. I find it hard to pay 1% or whatever they charge when I basically have all my ducks in a row.
All the bells and whistles they are trying to sell me on are not that important to me. Estate planning is the only one that interest me at all. House is paid for, education is accounted for the two DD.I am not saving for big house or a big travel trip I can handle that now. I am not saying that adding to my nest egg is unwanted. I am saying the goals are a bit different from the typical Retirement Saver. Or the College Saver, Second Home Saver. etc.
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Old 03-05-2021, 02:47 PM   #2
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Join Date: Aug 2020
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Congratulations on your financial position.

What do you want to do? Sincere question.

Moving: why? Moving requires time, expense and effort. What are those going to gain for you? Sincere question. What's the payoff for moving?

Investing: do you like to manage your own money? I do. If you like to manage your investments, have fun. Because of your favorable current position, you can be a bit more aggressive than the average person, if you want to do that. If you don't like managing your investments, use a basic portfolio such as a three fund "Boglehead" portfolio. I recommend avoiding robo-advisors or human advisors because their fees and expenses are not compensated to you in the form of returns.

If I was in your shoes, I would chart a course to bequeath the largest estate I could muster, while enjoying things I like to do.
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Old 03-05-2021, 03:22 PM   #3
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1) Do it yourself.
2) Use Schwab, VG, or Fido
3) Maximum avoidance: Fisher, Fast Eddie

Reading:

"If You Can" by William Bernstein https://www.etf.com/docs/IfYouCan.pdf (free 16 page download)

"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

Standard comment around here: "By the time you learn enough to select an investment advisor, you don't need one any more."
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Old 03-05-2021, 03:29 PM   #4
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There was a very recent thread with almost the exact same question. Look there for ideas and answers, then ask for anything you still find missing.

https://www.early-retirement.org/for...nt-107824.html
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Old 03-07-2021, 03:34 PM   #5
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Quote:
Originally Posted by OldShooter View Post
1) Do it yourself.
2) Use Schwab, VG, or Fido
3) Maximum avoidance: Fisher, Fast Eddie

Reading:

"If You Can" by William Bernstein https://www.etf.com/docs/IfYouCan.pdf (free 16 page download)

"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

Standard comment around here: "By the time you learn enough to select an investment advisor, you don't need one any more."
I agree with the above. Go with FIDO and avoid paying 1% so long as you don't get into their "actively managed" process.
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Old 03-08-2021, 10:48 AM   #6
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I agree on doing it yourself and avoiding the various sharks out there.
But how you manage things depends a bit on your income situation. Do you have sufficient income from pension and eventual SS so that you don't need to withdraw from portfolio for expenses on a regular basis?

If so, that gives you more flexibility in how to invest...
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