krldrummerboy
Recycles dryer sheets
Hi, I am a first time poster, but very interested in learning more about retirement investing. Specifically, whether or not I should stick with Ameriprise or go it on my own.
Age = 50 male
Desired retirement age = 60 - 65
Assets= ~ $500,000
Asset allocation= 275K in Ameriprise (mostly moderate to higher risk mutual funds. I try and max my and my wife's Roth every year)
Combined income= $200k
Expenses= 450k mortgage (3.625%), whole foods
Spouse= yes (8 years younger than me)
kids= 5 year old boy, 6 year old boy
Relevant location= San Jose, CA
As you can see, I live in the most expensive place on the planet, make a decent income, and am 50 years old with really young kids.
Aside from my Amerpirse account I have:
1- My company is being acquired so I will soon be able to roll-over $140 (401k)
2- Will instantly vest $100k (mostly unvested stock, i.e. 2/3 < 1yr held).
3- Have about $30k in online brokerage and Ally which is cash, AAPL and QQQ.
QUESTIONS
1- I want some direction on where to start on this forum learning more about personal investing?
2-This is what my brain is mulling over and I need some help: I used to invest on my own and was a firm believer in ETF buy and hold. Have used Ameriprise for 10 years and not thought about it much since (except my 401k direction). What should I do going forward?
HISTORY:
My Ameriprise planner has been good for me, but, she is flighty (she manages a lot of wealthy silicon valley engineers I suppose) in that trades are delayed and promises to summarize meetings are sometimes forgotten. She has messed up the year to allocate my Roth as well as my kids Coverdell IRAs (which caused tax issues). This was more her assistants fault, be she is ultimately responsible. The growth seems okay, except for the last few years (more market then her I suspect). I mostly trust her decisions and dont tend to think about the account after our yearly update (we meet once a year, my decision).
She wants me to roll-over my 401k to her (makes sense). She says that then the account value will be high enough for her to start actively trading stocks for me (if I bring the brokerage cash up to $100k.....which I can just about do). This will cost me 1.5% annually from the brokerage account value. She says that this is the new Ameriprise model in that mutual funds have been stagnant and that stock trading has better results. I wonder if this is more a fee driven philosophy.
Anyway, here is how she has invested my money so over the last 10 years:
My ROTH ($40k)= EAAFX , IUTBX , LGLCX , PVSBX
Wife ROTH ($40k)= CCFCX , ETCGX , OIDAX , PVSAX , PVSBX
My IRA ($75k)= RVS RAVA 4 SELECT Q
Wife 403b ($80k)= RVS RAVA 4 SELECT Q
Brokerage= SPY, DIA, VFINX (total $45k this is my picks from a long time ago, transferred to Ameriprise and just holding to avoid tax)
KIDS Education fund=$35k in Coverdell ( $3k cash each kid-not enough to qualify for Ameriprise fund purchase) and taxable funds ($25k WBGBX)
MORE QUESTIONS?
When Ameriprise told me that they wanted to start actively trading my $100k, I started wondering about Ameriprise:
1- Has Ameriprise invested my money wisely to date?
2- In general, is paying someone to actively trade for me worth it?
3- If it is a good idea, is 1.5% fee worth it? Are there better advisers that can simply recommend investments and let my use my brokerage acct. Just thinking about that...
4- A co-worker recommended I contact Stifel and use them instead of Ameriprise (he's very happy with his invester). I may talk to them or Vanguard or Schwabb. Is this wise?
5- Also, if mutual funds are stagnant, should I take control of my own holdings and simply research investing and simply buy ETF. This would be for everything (ROTH, Annuity, roll-over). Not sure what surrender fees will amount to.
EVEN MORE QUESTIONS:
I guess what I ultimately want is to be able to decide for myself: how should I handle my investments as I get closer to retirement. I can't spends hours a day trading, but, are there ways to beat the fees with simple investing strategies without investing too much time (my job takes a lot of my time currently)....
Age = 50 male
Desired retirement age = 60 - 65
Assets= ~ $500,000
Asset allocation= 275K in Ameriprise (mostly moderate to higher risk mutual funds. I try and max my and my wife's Roth every year)
Combined income= $200k
Expenses= 450k mortgage (3.625%), whole foods
Spouse= yes (8 years younger than me)
kids= 5 year old boy, 6 year old boy
Relevant location= San Jose, CA
As you can see, I live in the most expensive place on the planet, make a decent income, and am 50 years old with really young kids.
Aside from my Amerpirse account I have:
1- My company is being acquired so I will soon be able to roll-over $140 (401k)
2- Will instantly vest $100k (mostly unvested stock, i.e. 2/3 < 1yr held).
3- Have about $30k in online brokerage and Ally which is cash, AAPL and QQQ.
QUESTIONS
1- I want some direction on where to start on this forum learning more about personal investing?
2-This is what my brain is mulling over and I need some help: I used to invest on my own and was a firm believer in ETF buy and hold. Have used Ameriprise for 10 years and not thought about it much since (except my 401k direction). What should I do going forward?
HISTORY:
My Ameriprise planner has been good for me, but, she is flighty (she manages a lot of wealthy silicon valley engineers I suppose) in that trades are delayed and promises to summarize meetings are sometimes forgotten. She has messed up the year to allocate my Roth as well as my kids Coverdell IRAs (which caused tax issues). This was more her assistants fault, be she is ultimately responsible. The growth seems okay, except for the last few years (more market then her I suspect). I mostly trust her decisions and dont tend to think about the account after our yearly update (we meet once a year, my decision).
She wants me to roll-over my 401k to her (makes sense). She says that then the account value will be high enough for her to start actively trading stocks for me (if I bring the brokerage cash up to $100k.....which I can just about do). This will cost me 1.5% annually from the brokerage account value. She says that this is the new Ameriprise model in that mutual funds have been stagnant and that stock trading has better results. I wonder if this is more a fee driven philosophy.
Anyway, here is how she has invested my money so over the last 10 years:
My ROTH ($40k)= EAAFX , IUTBX , LGLCX , PVSBX
Wife ROTH ($40k)= CCFCX , ETCGX , OIDAX , PVSAX , PVSBX
My IRA ($75k)= RVS RAVA 4 SELECT Q
Wife 403b ($80k)= RVS RAVA 4 SELECT Q
Brokerage= SPY, DIA, VFINX (total $45k this is my picks from a long time ago, transferred to Ameriprise and just holding to avoid tax)
KIDS Education fund=$35k in Coverdell ( $3k cash each kid-not enough to qualify for Ameriprise fund purchase) and taxable funds ($25k WBGBX)
MORE QUESTIONS?
When Ameriprise told me that they wanted to start actively trading my $100k, I started wondering about Ameriprise:
1- Has Ameriprise invested my money wisely to date?
2- In general, is paying someone to actively trade for me worth it?
3- If it is a good idea, is 1.5% fee worth it? Are there better advisers that can simply recommend investments and let my use my brokerage acct. Just thinking about that...
4- A co-worker recommended I contact Stifel and use them instead of Ameriprise (he's very happy with his invester). I may talk to them or Vanguard or Schwabb. Is this wise?
5- Also, if mutual funds are stagnant, should I take control of my own holdings and simply research investing and simply buy ETF. This would be for everything (ROTH, Annuity, roll-over). Not sure what surrender fees will amount to.
EVEN MORE QUESTIONS:
I guess what I ultimately want is to be able to decide for myself: how should I handle my investments as I get closer to retirement. I can't spends hours a day trading, but, are there ways to beat the fees with simple investing strategies without investing too much time (my job takes a lot of my time currently)....