Should get my pension Lump sum 3/1. Will represent about 22% of investable assets today. My 401k is currently with Vangaurd as that is who my prev employer used. Now of course, I can move it to any other institution as a 401k if I want. It represents about 42% of investable assets today.
I have some IRAs (backdoor for path to Roths, one for each my DW and I) and brokerage account in Fidelity which collectively represent maybe 7% IA.
So I went to my old FIDO guy who I lost access to 2.5 years ago because I yanked a big rollover out of there and fell below the min balance to keep him, and waved this pension lump sum in front of him. Of course he said he would be glad to help invest it, then immediately asked about my 401K. When I told him the cumulative balance, he said they have a promotion for new investments and if I gave them my pension lump sum, I'd get $600, and if I brought in the 401k, $2500. Neat chunk of change, but in reality as a percentage of the whole, not that much. Not a huge motivator.
So in my head right now is to deposit the LS into one of the existing FIDO IRAs and ask him, given the bigger picture, to offer a recommendation on investments. I'll keep the 401K with Vanguard for now. I have no problems with Fidelity, I like their website and tools, and the advisor seems pretty good. Vangaurd, not so much.
Then, just to make him do a little work, I'll ask him what he would recommend if I brought the 401K to him too.
In the next few weeks I have to spreadsheet all my holdings for him so he can see where we are. I might share some of that here because I know it is relevant, but I would value any thoughts/suggestions.
DW will work for another 3-4 years BTW, and the plan is not to have to draw anything from the portfolio until 2 years from now. Right now I am favoring keeping the LS invested in Fidelity and the 401K in Vanguard. DW's 401K is in Vanguard as well.
Ideas and thoughts welcome.