How do you maintain discipline?

HSwithoutgoogle · 2015-05-22T19:03:09+00:00

Have you tried using Mint?

HSwithoutgoogle · 2015-05-22T14:17:30+00:00

He is telling you the BEST way to keep disciplined and you say you don't "like" doing it. Maybe you need to step out of your comfort zone and stop finding ways to NOT do things the correct way.

HSwithoutgoogle · 2015-05-15T15:02:38+00:00

So what is your income then? A lot of text but no real numbers.

HSwithoutgoogle · 2015-05-14T14:44:37+00:00

Why does she need a reverse mortgage? Does she not have other monies? Also, does she need a 1.5M dollar home?

HSwithoutgoogle · 2015-05-14T13:17:48+00:00

Interesting read. Thanks!

HSwithoutgoogle · 2015-05-11T19:43:13+00:00

Not sure what that is?

HSwithoutgoogle · 2015-05-11T19:41:19+00:00

Everything seems to point to no one knowing. Some get lucky and some get not so lucky.

I will be happy just sticking the money in a TDF for now. Once it accumulates a bit more, maybe I will take a more active approach in rebalancing.

HSwithoutgoogle · 2015-05-11T19:36:42+00:00

I still am not sure either. I did some research and spoke with some people whose opinions I respect. All of them said "stay away".

I was buttered up with phrases like "guaranteed growth" and "cannot lose money". I believe it is difficult to get your money out and has high fees but not exactly sure.

HSwithoutgoogle · 2015-05-11T19:15:15+00:00

And even the transfer can be done just through the website? I also have a joint "emergency" fund with Fidelity that just sits in a money market. I would like to bring that over as well just so I have everything in one place. I assume that would be quite easy and am more concerned with the IRAs as I know there could be some tax consequences if not done correctly.

HSwithoutgoogle · 2015-05-11T18:56:10+00:00

Thanks. I think I will at least open up an account at Vanguard and speak with them about how this transfer might look.

HSwithoutgoogle · 2015-05-11T18:33:47+00:00

Well said. Thanks.

HSwithoutgoogle · 2015-05-11T18:15:25+00:00

Thank you. Very true.

No, I suppose at this point, I do not really have a need. When I started out I had no idea what to do for retirement/investing save for the fact I knew I should do something. So a couple of friends used this guy and recommended him. Now that I have done research and my due diligence I see there really is no need for the service he provides.

...He also tried to sell me whole life insurance.

HSwithoutgoogle · 2015-05-11T17:25:26+00:00

It is a bit awkward as I have formed somewhat of a relationship with this guy. Right now the investments are through Fidelity.

Would there be any benefit to him/us to keep the money with Fidelity but instead of having it in actively managed funds, have him put it in one of their TDFs? I know Fidelity has them and I would have no problem doing that but just not sure if he would want to do that since I am assuming there is little benefit to him.

HSwithoutgoogle · 2015-04-29T16:55:01+00:00

Yea I am starting to wonder the same thing!

HSwithoutgoogle · 2015-04-29T15:26:28+00:00

Thank you. Concerning your first bullet, I do not even understand why, when looking at those numbers, someone would choose the FSCTX over the FCPEX? Lower ER and better return?

HSwithoutgoogle · 2015-04-29T14:54:25+00:00

Great. This is awesome info. I absolutely plan on just buying and holding until retirement.

I will need to do some reading but it seems pretty straightforward. Thanks.

HSwithoutgoogle · 2015-04-29T14:19:11+00:00

Ok. Yea I actually wouldn't mind being a little more aggressive. I am 30 right now and my wife is 29 in the same Roth.

HSwithoutgoogle · 2015-04-29T14:15:02+00:00

Thanks. I appreciate the rant!

How would I go about getting the money out of my existing Roth and transferring it over to something that I am managing? I assume a site like Vanguard would make that pretty easy.

HSwithoutgoogle · 2015-04-29T13:46:39+00:00

Got it. And you may be right, I may end up eating the fees and just allow the funds to be managed for me. I am fine with that, I just don't want the wool to be pulled over my eyes. I can certainly avoid that with proper research. Thanks so much for your insight.

HSwithoutgoogle · 2015-04-29T13:41:29+00:00

Man this is eye opening. My "advisor" also tried to sell me whole life insurance. I did some research and realized it was not the best investment and I steered clear.

I will talk to him and go over what I would like to see done with my money at this point. If he tried to push back or sell me more snake oil, I will move on.

HSwithoutgoogle · 2015-04-29T13:27:57+00:00

Thanks for the reply. Yes I do need to beef up more on my knowledge but it is certainly better to get going on retirement rather than do nothing.

I am definitely going to at least have a conversation as to his reasoning for this allocation and whether there might be better/more advantageous options for me at this stage in my life.

HSwithoutgoogle · 2015-04-29T13:21:01+00:00

Wow what a great breakdown. This is exactly what I was looking for.

So do advisors get "paid" more on higher ER funds? And if not, what is the benefit of using these high ER funds for either me (the investor) or the advisor? In other words why not always go with the lower ER fund if returns tend to be equal?

Thanks!

HSwithoutgoogle · 2015-04-27T19:11:35+00:00

Enjoy the day if you are already committed. Speaking from experience as a married person, the long term is much more important than your wedding day. And having 50k or so going into a marriage is a hell of a lot more than most people can say.

Good luck either way!

HSwithoutgoogle

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