dallas01 wrote:I have been reading this site for some time now and sure enjoy it. I am retiring in 90 days at age 55 and have a 50k pension and 300k in cash. I will be rolling over 500k from my 401k and thought I would split it into three to five different funds with Vanguard. I have two brokers pursuing me to get the funds and invest them for me. Bottom line is besides the fees to buy what they suggest there is the 1.5% annual brokers fees. Do any of you smart folks see any reason not to just split up the 500k myself and avoid the broker? I do not need the 500k so will buy the funds then just leave them alone for the next 5 -10 years. Thanks in advance.
Hello and welcome to the forum!
Of course they are pursuing you - if you go with them, you will have paid for their vacation to Tahiti,their property tax bill or their kids tuition for half a semester. What's not to like?
For .0067 ($50) you can either buy some of these great books on the recommended reading list - The Four Pillars of Investing - William Bernstein, The Only Guide to Investing You'll Ever Need (2nd ed) - Larry Swedroe, The Little Book of Common Sense Investing - John Bogle and All About Asset Allocation - Rick Ferri or just "rent" them from your local library and do it yourself. Then you can take the money saved and enjoy an all expense paid trip to Tahiti as a retirement present to yourself.