Search found 23 matches

by ndara2017
Thu Apr 27, 2017 5:01 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: [Advice needed for mother's inheritance/finances.]

Okay, both my mom and I have read through everything and this is where we stand right now. My mom has decided to leave the inherited IRA with the FA We have begun to transfer her IRA worth 218k to Vanguard We still have not sold off the American Funds worth 153,229 at the moment and unsure about the...
by ndara2017
Wed Apr 26, 2017 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: [Advice needed for mother's inheritance/finances.]

She also has approx 500k sitting in her personal bank account. 95k mortgage left- only debt Mortgage could be paid off for a start, when she is ready, of course. ndara2017, In addition to BL's thought, check into FDIC insurance limit. Insurance typically maxes at $250,000 which is a concern if your...
by ndara2017
Wed Apr 26, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: [Advice needed for mother's inheritance/finances.]

On Asset Allocation When we are young we can hold more stocks for a higher return. As we grow old then we should hold more bonds to have more stability. I have presented below a typical asset allocation glide path chart, offering a range of possible allocations between aggressive, normal, and conse...
by ndara2017
Tue Apr 25, 2017 7:11 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Advice needed for mother's inheritance/finances.

Vanguard Total Stock Market Index Fund (VTSMX) Vanguard Total International Stock Index Fund (VGTSX) Vanguard Total Bond Market Fund (VBMFX) Now, I am not sure how to allocate the funds to each one. I was thinking 25, 25, 50 respectively. What do you think? To resume where the last thread was left ...
by ndara2017
Tue Apr 25, 2017 6:50 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

Thanks for the suggestion. I don't mean to be invasive, but are these annuities you mentioned guaranteed to return 2-3 % a year? EE bonds are guaranteed to double (3.5%) in 20 years. 10 year CD's are currently returning 2.8%. Vanguard Total Bond Fund is not guaranteed, but has an annual total avera...
by ndara2017
Tue Apr 25, 2017 1:05 am
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Advice needed for mother's inheritance/finances.

What is the interest rate on the mortgage? If not super low why not pay it off with all that cash lying around? Also, is the cash in a high interest savings account? 1% savings account is easy to setup many places. I think it's 1.6%? It's very low. It goes up though in October 2019. We were plannin...
by ndara2017
Tue Apr 25, 2017 12:54 am
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Advice needed for mother's inheritance/finances.

[Thread merged into here, see below (next page) --admin LadyGeek] Hello everyone, First off I would like to thank everyone who replied to my last thread, which helped push both my mom and I to take control of our finances rather than allow someone else do it without our best interest in mind. For t...
by ndara2017
Tue Apr 25, 2017 12:19 am
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

Ndara2017, Welcome to Bogleheads and congratulations on the direction you're taking. It will be hugely beneficial for your mother in the long run. Two comments, one question ... Comment - I second WCI's suggestion that you find a competent fee-only advisor to help extricate you from the current sit...
by ndara2017
Fri Apr 21, 2017 7:34 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

Please go slowly on this. Do what needs to be done and let other decisions wait. Be sure that any inherited IRAs are handled correctly and titled correctly. You don't want them to hand it over directly to your mom, but rather be transferred directly to another brokerage (or bank for FDIC accounts s...
by ndara2017
Thu Apr 20, 2017 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

What does everyone think about this guy's choices for the inherited IRA worth 404k? http://imgur.com/a/cRPeW I just added up all the fees and it came out to be 3.07 % + 1.25 (advisor fee) = 4.32 %. Assuming we stay at 400k throughout the year, that will come out to be 17280 we are paying to fees on...
by ndara2017
Thu Apr 20, 2017 4:36 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

What does everyone think about this guy's choices for the inherited IRA worth 404k? http://imgur.com/a/cRPeW I just added up all the fees and it came out to be 3.07 % + 1.25 (advisor fee) = 4.32 %. Assuming we stay at 400k throughout the year, that will come out to be 17280 we are paying to fees on...
by ndara2017
Thu Apr 20, 2017 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

I think this thread is deteriorating a bit and may give the OP the impression that this really is too complicated a problem. After a year or so it will probably seem less complicated, so the objective should be to do nothing for a while, and undo whatever may have been done already. Money market or...
by ndara2017
Thu Apr 20, 2017 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

What does everyone think about this guy's choices for the inherited IRA worth 404k?

http://imgur.com/a/cRPeW
by ndara2017
Tue Apr 18, 2017 2:11 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

OP, you refer to this as "our money" - was some left to you and some to your mother, or was it all left to her and you are helping her? Also, keep in mind, you came to this "financial advisor" and asked for his help. He made the recommendations he is trained and incentivized to ...
by ndara2017
Tue Apr 18, 2017 1:32 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

I get saddened reading such scumbaggery. What makes you think that this is without a doubt, scumbaggery? I don't know nearly as much as most of you do, but everyone is saying get out. What are the red flags that you see and everyone else is seeing? THe read red flag that I saw was the fees attached...
by ndara2017
Tue Apr 18, 2017 1:24 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

Hello everyone, My father passed away a few month ago and my mom and I were left over 1m+ in assets. Right now we have three accounts with a financial advisor who is a close friend of my fathers. He has set up 3 accounts for my mom: Inherited IRA: 400k Brokerage account: 400k Mom's IRA: 200k Both m...
by ndara2017
Tue Apr 18, 2017 1:22 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

I get saddened reading such scumbaggery. What makes you think that this is without a doubt, scumbaggery? I don't know nearly as much as most of you do, but everyone is saying get out. What are the red flags that you see and everyone else is seeing? THe read red flag that I saw was the fees attached...
by ndara2017
Tue Apr 18, 2017 12:48 am
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

That's why I love the Bogleheads. So many smart people offering the best advice. A friend's mom recently passed and he also will inherit a chunk of money. A close family friend of his wants to invest the money for him. Family friend wants to put him in a variable annuity. I'm not as smart as many p...
by ndara2017
Tue Apr 18, 2017 12:45 am
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

I get saddened reading such scumbaggery. What makes you think that this is without a doubt, scumbaggery? I don't know nearly as much as most of you do, but everyone is saying get out. What are the red flags that you see and everyone else is seeing? THe read red flag that I saw was the fees attached...
by ndara2017
Mon Apr 17, 2017 9:20 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

I agree with everyone who is saying to be very cautious. It is possible that the advisor is sincerely acting on what he thinks are your best interests, but that does not mean you have to agree. In his mind he may be "helping" you because he has been trained in the industry to believe that...
by ndara2017
Mon Apr 17, 2017 8:43 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

1. Write a letter to this advisor and tell him to make no move on ANY of the portfolio. 2. Take your time and learn to invest, take a year if you have to. Don't less this advisor rush you, he's rushing you to lock in bad investments and get his high fees. He's NOT a friend of you or your family. 3....
by ndara2017
Mon Apr 17, 2017 8:27 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

Re: Too much inheritance to handle. Advice needed

Thanks for all the replies. It seems like I was right with my minimal research. My mom emailed him already to halt all future investments and to void the Griffin and AXA investment immediately. Im very worried about the AXA investment. My mom already signed the documents last week, but I don't see t...
by ndara2017
Mon Apr 17, 2017 6:22 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 14027

[Advice needed for mother's inheritance/finances.]

[Title was "Too much inheritance to handle. Advice needed". Post updated on Page 2 here --admin LadyGeek] Hello everyone, My father passed away a few month ago and my mom and I were left over 1m+ in assets. Right now we have three accounts with a financial advisor who is a close friend of...

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