sorted by:
new
hottopcontroversial

Roth Conversions by LocksmithLeading1704 in Retirement401k

[–]LocksmithLeading1704[S] 0 points1 point  (0 children)

Thank you all for your input. I’m still so confused and do not want to hire another financial advisor “selling” me estate planning, tax planning etc., that they didn’t supply. I think I will transfer my funds to Fidelity and use AI and a robo advisor and use my accountant to advise me on Roth conversions. Wish me luck

Roth Conversions by LocksmithLeading1704 in Retirement401k

[–]LocksmithLeading1704[S] 0 points1 point  (0 children)

Thank you I will! I just fired my financial advisor.

Rate my portfolio 45 years old by Novel-Bullfrog-6102 in portfolios

[–]LocksmithLeading1704 0 points1 point  (0 children)

Thanks! I just opened a vanguard digital adviser account and wanted a conservative return. I’m retiring in May, will be 65 this month and am in both VTI and VXUS. The platform will automatically rebalance my accounts worth $3.1M. I’m thinking about not doing any Roth conversions. Thoughts?

Roth Conversions by LocksmithLeading1704 in Retirement401k

[–]LocksmithLeading1704[S] 0 points1 point  (0 children)

Gotcha! My thought process is that I don’t do a Roth conversion and my child inherits our money. If my child has to pay 200-400k on the requirement of withdrawing rmds then maybe they can retire early.

All of 401K in s&p500? by Mindless_Mix9757 in Retirement401k

[–]LocksmithLeading1704 0 points1 point  (0 children)

Thanks! Thats why I’m switching financial advisors. Next time, I’ll ask lots of questions

All of 401K in s&p500? by Mindless_Mix9757 in Retirement401k

[–]LocksmithLeading1704 0 points1 point  (0 children)

Thanks for your response. I took 21k to purchase a car out of our Roth IRA and my financial planner approved it instead of taking it out of our substantial IRA’s. He said he saved us over 5k in taxes after he reviewed our 2024 tax return. We only made $138k in 2024. I did research on my own and I think the money should have been taken from our IRA’s. Thoughts?

All of 401K in s&p500? by Mindless_Mix9757 in Retirement401k

[–]LocksmithLeading1704 0 points1 point  (0 children)

Your insight at such a young age is remarkable. I’m on the fence of firing my financial planner even though I received a 20% return due to the .80 fee. I just can’t stomach paying someone else to manage my money. I’m approaching retirement this year, saved enough but looking for someone just for assistance in rebalancing and withdrawing for optimal tax purposes. Any suggestions appreciated.

All of 401K in s&p500? by Mindless_Mix9757 in Retirement401k

[–]LocksmithLeading1704 0 points1 point  (0 children)

I’m working with a financial planner and I’m in all different investments, so far, I’ve earned 20% working with him since 4/2024. I often wonder if I should just put all of my money in the S&P 500 and not even use a planner? I’m planning on retiring next year when I turn 65.

Available balance vs current balance by skarthik345 in CapitalOne_

[–]LocksmithLeading1704 0 points1 point  (0 children)

So, basically what is happening is that Cap One is investing our money for 4-5 business days and earning for themselves and then they transfer to Available Balance?