What do you think of Schwab Intelligent Income?

[tenant13]

Schwab Intelligent Income is an optional feature available with Schwab Intelligent Portfolios, which has no advisory fee and doesn't charge commissions, and Schwab Intelligent Portfolios Premium, which offers financial planning for an initial fee of $300 and a $30 per month advisory fee charged quarterly after that.

https://www.schwab.com/automated-investing/retirement-income#

I can't decide whether I like it or not. I'm a total control freak and hate allowing anyone (or anything - intelligent or not) to play with my money. So I stay away from advisors, human or robotic. I also think that being paid the same amount every month would feel to me like someone (something) is trying to dictate to me how to spend my stash. Having said that I realize it's very likely just a guidance that can be tinkered with and modified.

I would love if they make the underlying software available to all Schwab customers but I don't see myself signing up for any of the Intelligent Portfolios.

 

[gwraigty]

I'm happy with Schwab, but have no use for such a product.

 

[OldShooter]

... I can't decide whether I like it or not. I'm a total control freak and hate allowing anyone (or anything - intelligent or not) to play with my money. ...

Why not give them a test portfolio and watch it for a couple of years? I did that ($100K) with their original robot. It did an OK job but it junked up my portfolio with a whole bunch of tiny mutual fund positions and it insisted on keeping about 5% of my money in Schwab Bank, paying a pittance. I dropped it but I don't regret the experiment. I also have a test portfolio running right now with an advisor who can sell me DFA funds. I have always liked the DFA story so I decided to sip a tiny bit of the Kool-Ade.

 

[Spock]

Glancing at the link this doesn't look like anything worth the price.
"see how long your savings will last":
* lots of tools (including Fidelity RIP) do that for free.


"automated investing with tax smart withdrawals":

* the automated investing part is nothing. Its a an off-the-rack robo-investment to pick some ETFs.
* tax smart withdrawals: meh... maybe with the investments it has visibility to. If it has the ability to manage withdrawals for minimizing the tax-torpedo for taxed SS benefits, RMDs, roth conversions, across all assets and maybe ACA subsidies for those young enough then it might be of value.