27yr curious about my investment personel and strategy

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
pkcrafter
Posts: 11750
Joined: Sun Mar 04, 2007 12:19 pm
Location: CA
Contact:

Re: 27yr curious about my investment personel and strategy

Post by pkcrafter » Sun Apr 09, 2017 10:21 am

Mstrmcky wrote:Getting ready to have a / the conversation with my advisor this week.

Any last minute advice? The personal aspect of this has been the hardest part to accept. But you guys have laid out so much good info for me. That it's hard to see any positive in keeping this business relationship.

" my "Advisor" sent out their compliance forms for the year. ( first time i have seen this.. ) and looks as if he / the company is an RIA.. but still has pushed me in a pre chosen formula with another 3rd party company ( as mentioned above) that has a bunch of funds with high fees ETC ( mentioned above as well).. How can one do this and be an RIA...

I also finally received all the info from my Whole life policy and am looking into that and its cost/ benefit. ETC and might have some more questions on that for you guys.

thanks all"

Cheers. Guys.


Last minute advice is don't have a meeting with this advisor. While he's made a mess of your investments, he is highly trained in dealing with a client's temporary insanity. :happy

Simply tell Fidelity you want assets transferred to them. They will provide paperwork and initiate the transfer. And don't get talked into fidelity's advisory service or high fee funds. :sharebeer

There will be fees to sell the funds in either place. Let Fidelity know what you hold to insure they can accept them.



Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

Mstrmcky
Posts: 34
Joined: Sun Mar 05, 2017 8:02 pm

Re: 27yr curious about my investment personel and strategy

Post by Mstrmcky » Tue Apr 18, 2017 1:47 pm

So! The Conversation has been had, and the process of having the 3rd party money management firm and my advisor removed from my fidelity account is in process. ( They said it takes a few days to finalize it all)
Still need to make a couple decisions on my Indexed Universal Life insurance plan..
But one thing at a time.

Now that my Fidelity account is in the process of coming back to my full control.
Its time to start to figure out, Which Positions that i currently have to sell and when.
Does anyone have any advice on quickly figuring this out using Fidelity?

Also I'd love to start some Discussions again on Funds and Allocation that would be suggested in a simple portfolio (3-4 fund portfolios could work, or maybe slightly more than that. Would love to hear thoughts )

Thanks everyone for your help and encouragement through this process.

Cheers

User avatar
FelixTheCat
Posts: 1446
Joined: Sat Sep 24, 2011 12:39 am

Re: 27yr curious about my investment personel and strategy

Post by FelixTheCat » Tue Apr 18, 2017 1:59 pm

Why is there a whole life policy? Wife? Kids?

Those mutual fund expense ratios are outrageous. Did I see front-end loads? :oops:

Start reading https://www.bogleheads.org/wiki/Getting_started so you can take charge of your finances. The wiki/forum will teach you to construct a three-fund tax-efficient portfolio using index funds.
Felix is a wonderful, wonderful cat.

User avatar
FelixTheCat
Posts: 1446
Joined: Sat Sep 24, 2011 12:39 am

Re: 27yr curious about my investment personel and strategy

Post by FelixTheCat » Tue Apr 18, 2017 2:05 pm

Mstrmcky wrote:So! The Conversation has been had, and the process of having the 3rd party money management firm and my advisor removed from my fidelity account is in process. ( They said it takes a few days to finalize it all)
Still need to make a couple decisions on my Indexed Universal Life insurance plan..
But one thing at a time.

Now that my Fidelity account is in the process of coming back to my full control.
Its time to start to figure out, Which Positions that i currently have to sell and when.
Does anyone have any advice on quickly figuring this out using Fidelity?

Also I'd love to start some Discussions again on Funds and Allocation that would be suggested in a simple portfolio (3-4 fund portfolios could work, or maybe slightly more than that. Would love to hear thoughts )

Thanks everyone for your help and encouragement through this process.

Cheers

You can build a three fund portfolio using Fidelity funds https://www.bogleheads.org/wiki/Three-fund_portfolio

With Fidelity, for example, you could construct a three-fund portfolio using: [note 3]
Fidelity Total Market Index Fund Investor Class (FSTMX) or Premium Class (FSTVX)
Fidelity Total International Index Fund Investor Class (FTIGX) or Premium Class (FTIPX)
Fidelity U. S. Bond Index Fund Investor Class (FBIDX) or Premium Class (FSITX)


Make sure your portfolio is tax-efficient https://www.bogleheads.org/wiki/Tax-efficient_fund_placement

Asset allocation is up to you. How much of a stock market roller-coaster ride can you handle without panic? Vanguard has an asset allocation questionaire that may help https://personal.vanguard.com/us/FundsInvQuestionnaire
Felix is a wonderful, wonderful cat.

Mstrmcky
Posts: 34
Joined: Sun Mar 05, 2017 8:02 pm

Re: 27yr curious about my investment personel and strategy

Post by Mstrmcky » Tue Apr 18, 2017 8:03 pm

FelixTheCat wrote:Why is there a whole life policy? Wife? Kids?

Those mutual fund expense ratios are outrageous. Did I see front-end loads? :oops:

Start reading https://www.bogleheads.org/wiki/Getting_started so you can take charge of your finances. The wiki/forum will teach you to construct a three-fund tax-efficient portfolio using index funds.



It was put in place as a form of "Tax Efficient" Investment when i was younger..

Tamarind
Posts: 531
Joined: Mon Nov 02, 2015 2:38 pm

Re: 27yr curious about my investment personel and strategy

Post by Tamarind » Tue Apr 18, 2017 8:53 pm

Mstrmcky wrote:So! The Conversation has been had, and the process of having the 3rd party money management firm and my advisor removed from my fidelity account is in process. ( They said it takes a few days to finalize it all)
Still need to make a couple decisions on my Indexed Universal Life insurance plan..
But one thing at a time.

Now that my Fidelity account is in the process of coming back to my full control.
Its time to start to figure out, Which Positions that i currently have to sell and when.
Does anyone have any advice on quickly figuring this out using Fidelity?

Also I'd love to start some Discussions again on Funds and Allocation that would be suggested in a simple portfolio (3-4 fund portfolios could work, or maybe slightly more than that. Would love to hear thoughts )

Thanks everyone for your help and encouragement through this process.

Cheers


Congratulations on getting loose! You didn't even have to do a custodian transfer so that's nice. See my post above from March 10 for how to start adding up the gains and losses to arrive at a selling order for your lots. Feel free to list the total unrealized gain/loss for each fund here if you aren't sure and want someone​ to check your math.

Regarding portfolios, wouldn't it be nice to have something absolutely simple? I recommend the 3-fund portfolio. Do you also have tax-advantaged space? If so make sure to put your bonds there and have your taxable account be all stocks for tax efficiency.

NancyABQ
Posts: 140
Joined: Thu Aug 18, 2016 3:37 pm

Re: 27yr curious about my investment personel and strategy

Post by NancyABQ » Tue Apr 18, 2017 11:06 pm

One thing to watch for when preparing to sell your current holdings is whether any of them have "deferred loads" or "back end loads" which would basically incur a fee if you haven't held them long enough. I have no idea if this applies in your case, but it is something to look out for. I'm also not sure how the back-end loads would appear in the trading interface (like if you started a "sell" transaction, will it show you that fee or not? I really don't know...).

Step 1 once you have control is turn off dividend reinvesting on all the funds. Then you can sell at your leisure, taking into account the tax consequences or other fees. Invest all the income from dividends in some nice low-fee index funds.

Good luck!

Mstrmcky
Posts: 34
Joined: Sun Mar 05, 2017 8:02 pm

Re: 27yr curious about my investment personel and strategy

Post by Mstrmcky » Wed Apr 19, 2017 3:40 pm

Tamarind wrote:
Mstrmcky wrote:So! The Conversation has been had, and the process of having the 3rd party money management firm and my advisor removed from my fidelity account is in process. ( They said it takes a few days to finalize it all)
Still need to make a couple decisions on my Indexed Universal Life insurance plan..
But one thing at a time.

Now that my Fidelity account is in the process of coming back to my full control.
Its time to start to figure out, Which Positions that i currently have to sell and when.
Does anyone have any advice on quickly figuring this out using Fidelity?

Also I'd love to start some Discussions again on Funds and Allocation that would be suggested in a simple portfolio (3-4 fund portfolios could work, or maybe slightly more than that. Would love to hear thoughts )

Thanks everyone for your help and encouragement through this process.

Cheers


Congratulations on getting loose! You didn't even have to do a custodian transfer so that's nice. See my post above from March 10 for how to start adding up the gains and losses to arrive at a selling order for your lots. Feel free to list the total unrealized gain/loss for each fund here if you aren't sure and want someone​ to check your math.

Regarding portfolios, wouldn't it be nice to have something absolutely simple? I recommend the 3-fund portfolio. Do you also have tax-advantaged space? If so make sure to put your bonds there and have your taxable account be all stocks for tax efficiency.



Thank you! I will revisit your post from the 10th of march.

I don't have a tax advantaged space.. What do you suggest here for someone that doesn't have a employer provided 401k?


Thanks again

Tamarind
Posts: 531
Joined: Mon Nov 02, 2015 2:38 pm

Re: 27yr curious about my investment personel and strategy

Post by Tamarind » Wed Apr 19, 2017 4:45 pm

Edited for brevity.

Mstrmcky wrote:
Tamarind wrote:
Mstrmcky wrote:Also I'd love to start some Discussions again on Funds and Allocation that would be suggested in a simple portfolio (3-4 fund portfolios could work, or maybe slightly more than that. Would love to hear thoughts )

Regarding portfolios, wouldn't it be nice to have something absolutely simple? I recommend the 3-fund portfolio. Do you also have tax-advantaged space? If so make sure to put your bonds there and have your taxable account be all stocks for tax efficiency.

I don't have a tax advantaged space.. What do you suggest here for someone that doesn't have a employer provided 401k?


TIRA or Roth IRA. You may not need a lot of bonds initially, but you should prefer to have them in a tax-advantaged account.

If you can make a deductible contribution to a traditional IRA, that's probably best. If not, go with the Roth. There's lots of content in the wiki on IRAs and their value.

To the long list of bad advice you got from your now-former advisor, add not encouraging you to seek out and utilize tax-advantaged accounts. That has probably cost you a lot of money over the years.

Mstrmcky
Posts: 34
Joined: Sun Mar 05, 2017 8:02 pm

Re: 27yr curious about my investment personel and strategy

Post by Mstrmcky » Thu Apr 20, 2017 2:49 pm

Tamarind wrote:Edited for brevity.

Mstrmcky wrote:
Tamarind wrote:
Mstrmcky wrote:Also I'd love to start some Discussions again on Funds and Allocation that would be suggested in a simple portfolio (3-4 fund portfolios could work, or maybe slightly more than that. Would love to hear thoughts )

Regarding portfolios, wouldn't it be nice to have something absolutely simple? I recommend the 3-fund portfolio. Do you also have tax-advantaged space? If so make sure to put your bonds there and have your taxable account be all stocks for tax efficiency.

I don't have a tax advantaged space.. What do you suggest here for someone that doesn't have a employer provided 401k?


TIRA or Roth IRA. You may not need a lot of bonds initially, but you should prefer to have them in a tax-advantaged account.

If you can make a deductible contribution to a traditional IRA, that's probably best. If not, go with the Roth. There's lots of content in the wiki on IRAs and their value.

To the long list of bad advice you got from your now-former advisor, add not encouraging you to seek out and utilize tax-advantaged accounts. That has probably cost you a lot of money over the years.



Thanks!, First i need to figure out the Gains/Losses on my account and when to sell and start positioning towards a simple portfolio.

Mstrmcky
Posts: 34
Joined: Sun Mar 05, 2017 8:02 pm

Re: 27yr curious about my investment personel and strategy

Post by Mstrmcky » Mon Apr 24, 2017 8:52 pm

Now That things are in motion I am looking to get this moving towards a simple portfolio.

Do you guys have any suggestions on 3 fund portfolios at Fidelity that differ at all from the one https://www.bogleheads.org/wiki/Fidelity
Or does everyone stick pretty close to that?

I already own a fair share of FUSVX So i will prob keep those positions. Looking to add 2-3 more ( as i sell my old positions )

Thanks!

Mstrmcky
Posts: 34
Joined: Sun Mar 05, 2017 8:02 pm

Re: 27yr curious about my investment personel and strategy

Post by Mstrmcky » Mon Jul 10, 2017 1:30 pm

Hey guys.

I am now looking to move a sum of money into a 3/4 fund set up at fidelity and wanted to get some ideas on percentages / allocation.

Thanks for your time

Post Reply