Newbie here.
Nest egg:
$370K IRAs & $57 Nationwide annuity w/ LPL @ 1.5% yearly charge
$132K in American Funds 401K
$200 in (2) rental houses to be sold in next year or two
Found this website & decided the 1.5% LPL had to go. By the FIRE calculator, we can't live on less than a 4% yearly withdrawl of what will wind up as a ~ $1 million nest egg at retirement in 2015. To get to this, I have a few more income years & DH will have SS & we'll sell our residence, leaving us with a vacation home and RV lot & RV to use in retirement.
I know nothing about investing but enjoy Dave Ramsey on my daily drive so thought to contact his local investment ELP (endorsed local provider). The ELP,(Capital Choice) offers American Funds only. This sounded good to me as my American Funds 401K returned 14% last year. Vs. 10% for my LPL account & 7% for DH's more conservative LPL account. With the ELP's American Funds,
we pay 2% up front but then never again.
Since my LPL advisory fee is scheduled to be charged Feb 8, I called & had the LPL accounts converted to cash today with the plan to put it into the ELP's American Funds tomorrow. Of course, my LPL guy got wind & called & is willing to decrease to 1 1/4% and wants me to come in to discuss. Says being limited to American Funds isn't good. The ELP said fine, let me know
what you decide but says his advantage is saving the yearly advisory fee & putting it to work instead. We're budgeting to live on $60K /yr in retirement, shooting for 2015. DH will be 64 and able to draw ~ $1600 SS right away and I'll be 55 so not able to get SS for 7 years.
I know the Dave Ramsey ELP isn't Vangard or Fidelity but it seems like a step in the right direction. I'm a super busy veterinarian during snowbird season here in Arizona (typing this at midnight) but as soon as it slows down, I intend to spend some time here!
Advice is much appreciated.
Nest egg:
$370K IRAs & $57 Nationwide annuity w/ LPL @ 1.5% yearly charge
$132K in American Funds 401K
$200 in (2) rental houses to be sold in next year or two
Found this website & decided the 1.5% LPL had to go. By the FIRE calculator, we can't live on less than a 4% yearly withdrawl of what will wind up as a ~ $1 million nest egg at retirement in 2015. To get to this, I have a few more income years & DH will have SS & we'll sell our residence, leaving us with a vacation home and RV lot & RV to use in retirement.
I know nothing about investing but enjoy Dave Ramsey on my daily drive so thought to contact his local investment ELP (endorsed local provider). The ELP,(Capital Choice) offers American Funds only. This sounded good to me as my American Funds 401K returned 14% last year. Vs. 10% for my LPL account & 7% for DH's more conservative LPL account. With the ELP's American Funds,
we pay 2% up front but then never again.
Since my LPL advisory fee is scheduled to be charged Feb 8, I called & had the LPL accounts converted to cash today with the plan to put it into the ELP's American Funds tomorrow. Of course, my LPL guy got wind & called & is willing to decrease to 1 1/4% and wants me to come in to discuss. Says being limited to American Funds isn't good. The ELP said fine, let me know
what you decide but says his advantage is saving the yearly advisory fee & putting it to work instead. We're budgeting to live on $60K /yr in retirement, shooting for 2015. DH will be 64 and able to draw ~ $1600 SS right away and I'll be 55 so not able to get SS for 7 years.
I know the Dave Ramsey ELP isn't Vangard or Fidelity but it seems like a step in the right direction. I'm a super busy veterinarian during snowbird season here in Arizona (typing this at midnight) but as soon as it slows down, I intend to spend some time here!
Advice is much appreciated.