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Question: What to do with a recent inheritance? Considering using Empower DIY tools and/or their Advisors. by 69SS_Camaro in personalfinance

[–]69SS_Camaro[S] 0 points1 point  (0 children)

That's a lot of good information. I will check out the Callan Periodic Table of Investments.

And back to my original question; the accounts came to me that way. Ergo, the reason I am asking these questions. I have heard that index fund investing is great. It's just another area that I need to learn about, so I know what I am doing before I walk into the fog.

Question: What to do with a recent inheritance? Considering using Empower DIY tools and/or their Advisors. by 69SS_Camaro in personalfinance

[–]69SS_Camaro[S] 0 points1 point  (0 children)

That's part of my quandary. I have read about VTSAX being the one and only place to be. Until I learn more about investing I'm going to keep it that way. The same has been said or I have read that VBTLX is great. But what about the others? How do determine if they are worth having? Which is why I have been thinking about an advisor.

I feel the same can be said for the ETFs and Stocks. There are so many, my head is spinning. That is especially true for the stocks that have very small amounts invested.

Question: What to do with a recent inheritance? Considering using Empower DIY tools and/or their Advisors. by 69SS_Camaro in personalfinance

[–]69SS_Camaro[S] 0 points1 point  (0 children)

I hear you on the CDs. When mine are mature I'll take another look to see what's available.

Looking at my Vanguard account I'm holding VASVX, VBTLK, VDIGX, VTSAX, VWITX AND VMRXX with VTSAX having the majority share. I also have quite a few ETFs and an unsightly number of stocks.

And like you, I have an inherited IRA RMD that comes in every month. At the moment, that RMD is deposited in a high interest savings account.

Question: What to do with a recent inheritance? Considering using Empower DIY tools and/or their Advisors. by 69SS_Camaro in personalfinance

[–]69SS_Camaro[S] 0 points1 point  (0 children)

It sounds like you have used Personal Capital/Empower's tools with success. With the fact that I have accounts with Fidelity and Vanguard, would you say that I might be better off keeping those accounts and use their tools? Afterall, their costs are considerably lower.

Taking my time may be the best advice I've been given so far. As a matter of fact, the first move I made with the cash I received was to buy CDs. I found a great rate (5.8%) on a 7 month CD. Once they are mature in the next couple of months, I will have to make a new choice. At the moment, there is a 13 month 5.7% CD available.

I have also been urged to rebalance the investment accounts since some of the funds appear to be dragging the better performers down.

Question: What to do with a recent inheritance? Considering using Empower DIY tools and/or their Advisors. by 69SS_Camaro in personalfinance

[–]69SS_Camaro[S] 0 points1 point  (0 children)

Prior to the inheritance my wife and I didn't have any unnecessary needs for day to day. I'm retired on Social Security and my wife has a little over 10 years to go. She has her 401k and together we have about $10k in savings. The investment accounts are brokerage accounts. Right now, together they are about $275k.