hello, first post here, head spinning from all the reading from the last few weeks. Guess i am motivated to do something, just not sure what and how. hope i get this post right, or close anyways.
emergency funds, yes
debt, mortgage only, say 4.3% 240k no CC or other debt
tax filing is married jointly
tax rate state is 7.05 fed is 25%
state is Minnesota
my age is 43
asset allocation, unsure (60/40?)
international allocation, unsure (25%?)
my current portfolio is mid 5's
no 401k available to me, my wife has (vanguard retirement year currently, lifestratagy growth better?? )
current assets are
us bank traditional ira about 22k, 3 templeton funds, fkgrx (34%) fhalx (39%) teplx (27%) expenses .94, .77, 1.11
prudential roth 8k, surrender charges remaining 680, aa bonds 75% 4 funds. (this was a gift, managed by a family friend, he doesn't return emails or phone calls to me, not sure if i just leave this here or do something about it, might cause family problems)
matthews asia ira matthews korea fund 17.5k makox 1.18%
contributions i contributed nothing for 2012, my wife some on a 401k
story is i received 100k from my fathers passing, and put it in a savings account for the short term, which has become over a year. i have no idea if there will be any more inharatence from his estate or my mother, there could be, in the 6-7 figure range, but there has been no communication for over a year and a half with my mother. all i can plan on is this 100k, since it is in my hand. My father was a cpa and a financial advisor and he always told me not to pay anyone its easy and he didn't like fees. well, finding its not so easy for this auto mechanic.
Anyways, looking at the 3 vanguard for say 60k(?) of the 100, not sure the split. i would like to keep 15k or so in a savings or some quicker access fund if needed. we have a zero balance equity line if needed also for an emergency. (should i have 10-20k for other funds to move around?? stocks, weighted segment, things like that? could be interesting to do, but might be an expensive lesson )
i spoke with a very nice gentleman at us bank about options, he suggested some virtus funds and putnam also. emerging markets, short term bonds, equity spectrum. things like that. i am not opposed to some things out side of the core three, or some additional matthews asia funds. does chasing gains, paying fees turn into a loosing battle usually? not set in stone to keep the usbank ira, could move it do something else with it. (wells fargo , vanguard, somewhere else?)
questions i have, should i setup another roth, backfill the 5k from 2012, and fill 2013 also ?? what goes in here, the bond portion of the 3 funds?? recommend doing this at vanguard ? or are other bond sectors higher yielding ?? then for the rest, do i do admiral shares at vanguard also, or a brokerage house online, wells Fargo for the 50k min account ?? i know that i need to do something, and sooner. sure would hate to pull the trigger and flush it down the drain, but under the mattress doesn't seem to be gaining anything, and i need to have this pick up some gains over the next 10-20 years.
thanks so much for the time.
Last edited by Joel S
on Fri Jan 11, 2013 8:27 pm, edited 1 time in total.