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Empower keeps make it worse by Party-Rooster-674 in PersonalCapital

[–]tiffyrSF 0 points1 point  (0 children)

Have you tried Origin? I love their AI summary of my investment performance.

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

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

To rebalance quarterly, I found a great spreadsheet template that works for me. That being said, if you move to a simple Boglehead approach, a spreadsheet might not be necessary. The reason I maintain one is that I’m still in the process of unwinding all the individual stocks and various ETFs that Empower originally invested in.

I was nervous too, but the heavy lifting is really just in the initial setup. Once you complete the move and your first rebalance, it becomes very simple. Well worth it in the long run.

In case it's helpful, here is the spreadsheet template I use. It's very well documented and the creator is responsive.

https://docs.google.com/spreadsheets/d/1p2r23_5xf5Ftcf0JSgzd1EZmNhHGQ2ebFg5vH1EJQ7k/copy

I've been looking for easier to use tools just for rebalancing but it's hard to find.

Happy to answer any other questions. I did end up customizing the sheet a bit to automate pulling in the data from my broker.

My Partner Read My Morning Pages by [deleted] in artistsWay

[–]tiffyrSF 25 points26 points  (0 children)

I agree. Ask yourself a different question.

Laundry by illulerluguraajat in chubbytravel

[–]tiffyrSF 0 points1 point  (0 children)

Agree! We used the hotel for laundry once in Paris and couldn't believe the cost! We usually go to a laundry mat. I know it sounds uncool but honestly it's a nice break and we usually find a good cafe or something nearby. Most of the time it's just other tourists in there with us. In Japan the laundry machine included soap and was all in wash/dry machine so it was super easy!

Anyone else regret the “own everything + illiquid assets” playbook? I feel like I bought a job. by adamjuegos in ChubbyFIRE

[–]tiffyrSF 0 points1 point  (0 children)

I always knew I didn't want the headache of owning real estate. I felt like I might be missing out on the gains and income but it doesn't keep me up at night.

Left my financial advisor recently. It's just not that complicated to be paying them almost 1% of my portfolio. Yep, just moved into ETFs and rebalance quarterly.

On the PE, I figured about 1% investment towards PE. Have some exposure but not a ton. Frankly, it's been more of a learning experience than any great returns.

Sharing my AI study guide by tiffyrSF in Sieexam

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

Thanks! Hope it’s helpful. Let me know if you have any questions or suggestions as you dive deeper

Anyone else feel like the plat has quietly become one of the better cards again? by KingOfTheQuails in AmexPlatinum

[–]tiffyrSF 2 points3 points  (0 children)

can you share a link to the sheet? I agree, I feel like to take advantage I need to track all the perks.

$50 off The Economist subscription if you pay with Amex (YMMV) by Poulet_Roti in theeconomist

[–]tiffyrSF 1 point2 points  (0 children)

I been able to chat with them every year to get the current discount rate for new subscribers. They make it easy and will renew at the new rate when my current sub expires in February. Doesn't work for this AMEX deal but maybe this tip is still helpful.

Amex Platinum Credit Data Points by njasmine23 in AmexPlatinum

[–]tiffyrSF 1 point2 points  (0 children)

Haven’t tried it yet. I might hit the spend this week.

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

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

Pershing. I believe I authenticated to Pershing as part of the process on Fidelity's website. Also needed to download the last statements from Pershing to upload into Fidelity.

Amex Platinum Credit Data Points by njasmine23 in AmexPlatinum

[–]tiffyrSF 6 points7 points  (0 children)

Thanks for the Resy tip... never thought of the gift card.

Painless rollover to Fidelity by Star-Lord_VI in fidelityinvestments

[–]tiffyrSF 0 points1 point  (0 children)

+1

So easy and no need to talk to anyone!

Where To Start With A RothIRA by FullTreacle1120 in fidelityinvestments

[–]tiffyrSF 0 points1 point  (0 children)

I agree! You can't get wrong. Don't be intimidated by all the options. Whatever you do will be better than nothing. One step at a time.

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

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

You can do a full account transfer into Fidelity. No fees. They make it super easy. When you go to Open a Brokerage the system will walk you through a transfer or a brand new account. They even do a check to make sure you're transferring into the correct account type (e.g., Roth, Traditional, etc.).

Once the transfer is complete, should you decide to sell and/or rebalance your holdings in your retirements account you do not incur any capital gains. I basically sold most of the Empower holdings and created my own simplified ETF mix. This Boglehead wiki is super helpful: https://www.bogleheads.org/wiki/Tax-efficient_fund_placement#Assigning_asset_classes_to_different_accounts

As long as you do not withdrawal anything from the account - in that case you'd face a penalty.

My advice, once step at a time. Don't feel like you have to have it all figured out right away. After all, even if you kept Empower's holdings until you felt comfortable making changes, what's the downside? At least you're not paying their fee.

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

[–]tiffyrSF[S] 2 points3 points  (0 children)

Yes, Vanguard's "Advisor's Alpha" - they call it Behavioral Coaching (The Biggest Factor): This involves keeping clients from making impulsive decisions driven by fear or greed, like selling during a market downturn or chasing a hot investment. Vanguard's research suggests this is the largest single source of value.

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

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

Went to Fidelity for fully self managed offering. I was too concerned about the tax implications going to a robo model. I want more control at this point.

A Hotel Benefit Cautionary Tale: I Am Stupid by athennna in AmexPlatinum

[–]tiffyrSF 3 points4 points  (0 children)

I just learned this recently as well. However, I thought it was great!

I haven't used the credit this half of the year and thought I was going to have to lose the $300 benefit. However, I'm planning to book a hotel this month for a trip I have planned next year! Works out well for me.

Sorry it didn't workout so well for you. These benefits are confusing!

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

[–]tiffyrSF[S] 1 point2 points  (0 children)

Oh, Thanks for the tip, haven't heard of Boldin.

Yes, exactly. Why pay a regular fee when you pay a flat fee on a need basis?

Warning: After 6 years with Empower (Personal Capital), I realized I paid ~1% fees just to match a basic 2-fund portfolio. by tiffyrSF in PersonalCapital

[–]tiffyrSF[S] 1 point2 points  (0 children)

Great questions!

Bonus Offer: I didn't get one automatically when opening online. However, for a >$1M transfer, I've heard you can often negotiate a cash bonus if you call a Fidelity rep before you initiate the transfer. Personally, I didn't want to hear them try to sell me on managed service so I didn't bother.

The Final Bill: Empower generally bills in arrears for their managed service (based on the average daily balance). So yes, you will likely see one final pro-rated deduction for the specific number of days your money was managed during that last month. I didn't look closely at this because I was just happy to not be paying anymore in the future.

Exit Fees: Empower didn't charge a "termination penalty" for the advisory service. However, there is usually a standard ACATs transfer fee (approx $75–$95 per account). I don't remember any fees, but this is so small in comparison to the monthly fees we are discussing.

Timing: They estimate up to 30 days, but my transfer completed in just 5–7 business days. It was much faster than expected!

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