Ghosh_Bogled wrote:1. Create an IPS (this seems daunting)
I know the IPS example in the Wiki is very thorough and perhaps too much for you to tackle right now. It does not have to be that daunting. Part of it is simply writing down what you have in your mind already.
My IPS is something like 5 or 6 sentences.
I will maintain my stock to bond ratio at _____.
I want ___ of my stocks in international.
I will rebalance when my stock to bond ratio is ______ away from those targets.
There is something about simply writing things down that helps you maintain sanity during the crazy times. All you have to do is look at the decisions you made when your brain was clear. There is no need to figure out "what do I do now?" which people have trouble doing when they think the sky is falling. That's really all an IPS is - making sensible decisions when you are not under pressure and then carrying out those decisions when things go amuck.
I will need help sorting out my taxable Vanguard account, but don't know enough to ask the right questions. Thank you anyhow, I did not expect such an enthusiastic response.
The first thing to do is figure out your "unrealized gains" in each of these mutual funds because you may wish to sell some of them and don't want to be hit with unexpected taxes. You probably have gains and some of these gains may have already been taxed as dividends. The part that has not been taxed yet is your "unrealized" gains. This is what will be taxed if you sell. Alternatively, you might have losses instead of gains. Or some might have gains and some losses.
The other thing to look at is whether the gains (or losses) are long term or short term (held less than a year). This information is available somewhere in your account on the internet (sorry - I can't describe where since I no longer have a taxable account). If you can't find it, call Vanguard and ask.
You have this account labeled as "hers". Do you wish to keep this account separate from the family finances?
What is the purpose of this money? That will help determine how to invest it.
Once we know the purpose of the money and the tax consequences of cleaning up the account, it will be easier to help you figure out what to do.