Crnhzkr
Dryer sheet wannabe
I'm 59 and hoping to retire next spring. I have about 2.3m, but it's spread out in three piles and I want to consolidate it into one big pile and am trying to figure out if I should DIY or turn it all over to a FA. I've opened an account with M1 Finance (anyone else using this online brokerage?) and what I am considering doing is to create a pie made up of Vangaurd ETFs something like this:
Currently, my holdings are spread across Fidelity, Ed Jones, and Etrade and they look like this (in Ks):
Fidelity:
Ed Jones:
ETRADE:
Right now, I'm paying Fidelity to manage my IRA and some of the other money, and of course I'm paying Ed Jones. I was thinking I would close out my Ed Jones money and move my IRA into the pie above and my ROTHs into a similar pie. I think I'm paying Fidelity about .83% and I don't even know what I'm paying EJ, but I know it ain't cheap.
So I guess my questions are, does it make sense to do this? Is this basically what others are doing?
A big concern I have with DIY retirement investing is, how do you know which account to draw from to minimize your tax liability? If I turned it all over to a FA, they would be able to help with this. Thank you for the input and advise!
Vangaurd ETF | Asset Class | % Allocation |
VOO | Large Blend | 10% |
VOOV | Large Value | 10% |
VIOO | Small Blend | 10% |
VB | Small Value | 10% |
VXUS | Total Intl | 10% |
VNQ | REIT | 10% |
BND | Total Bond | 40% |
Currently, my holdings are spread across Fidelity, Ed Jones, and Etrade and they look like this (in Ks):
Fidelity:
Taxable - 123 |
Trad IRA - 1134 |
401K - 127 |
Ed Jones:
Taxable - 47 |
Wife's IRA - 58 |
Wife's ROTH - 142 |
My ROTH - 138 |
ETRADE:
Taxable (stocks) - 311 |
Wife's ROTH - 88 |
My ROTH - 88 |
Right now, I'm paying Fidelity to manage my IRA and some of the other money, and of course I'm paying Ed Jones. I was thinking I would close out my Ed Jones money and move my IRA into the pie above and my ROTHs into a similar pie. I think I'm paying Fidelity about .83% and I don't even know what I'm paying EJ, but I know it ain't cheap.
So I guess my questions are, does it make sense to do this? Is this basically what others are doing?
A big concern I have with DIY retirement investing is, how do you know which account to draw from to minimize your tax liability? If I turned it all over to a FA, they would be able to help with this. Thank you for the input and advise!
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