Multiple accounts....

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Bbddl
Posts: 4
Joined: Sat Jun 17, 2017 1:28 pm

Multiple accounts....

Post by Bbddl »

We are very fortunate to have what we have accumulated through hard work and sacrifice.

However, our funds are distributed through numerous accounts. We use Morningstars premium (Xray) service to get an overall look at all assets and have found it very helpful over the years keeping allocations, expenses etc in line.

I began listening to podcasts a few weeks ago and the ones I found most interesting included Paul Merriman and Rick Ferri.

Has anyone ever used their fee only services to take a comprehensive look at their overall financial health and plan? We would like to discuss and educate ourselves more on issues such as taxes, SS, healthcare.

Retirement is three years away for us, we are certain we are on the right path and will be quite comfortable in retirement. We want to be on the BEST path though.

Im now 60 with a state pension and deferred comp.
Wife is 51with deferred comp and employer profit sharing plan.
Home is free and clear, 6k in total debt.

Thanks for any input.
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geerhardusvos
Posts: 1238
Joined: Wed Oct 23, 2019 10:20 pm
Location: heavenlies

Re: Multiple accounts....

Post by geerhardusvos »

Bbddl wrote: Sat Nov 21, 2020 6:25 pm We are very fortunate to have what we have accumulated through hard work and sacrifice.

However, our funds are distributed through numerous accounts. We use Morningstars premium (Xray) service to get an overall look at all assets and have found it very helpful over the years keeping allocations, expenses etc in line.

I began listening to podcasts a few weeks ago and the ones I found most interesting included Paul Merriman and Rick Ferri.

Has anyone ever used their fee only services to take a comprehensive look at their overall financial health and plan? We would like to discuss and educate ourselves more on issues such as taxes, SS, healthcare.

Retirement is three years away for us, we are certain we are on the right path and will be quite comfortable in retirement. We want to be on the BEST path though.

Im now 60 with a state pension and deferred comp.
Wife is 51with deferred comp and employer profit sharing plan.
Home is free and clear, 6k in total debt.

Thanks for any input.
Take a look at ‪at the wiki and 3 fund portfolio‬:

1. ‪https://www.bogleheads.org/wiki/Getting_started‬

2. ‪https://www.bogleheads.org/wiki/Three-fund_portfolio‬

After reading those, what are your thoughts/plans/questions?

Check out Roth conversions. Lots of resources on our wiki, but if you need help it’s not a bad idea to get fee only advice. Push yourself to get educated first, especially around investing. It’s a lot less intimidating than you think if you can push yourself. And your discussions will be a lot more fruitful with someone trying to help you if you have already looked into this stuff. The wiki is a great place and discusses taxes and Social Security. If you have a pension, just take Social Security as late as possible, and kick off the spousal benefit anytime.
VTSAX and chill
retire2022
Posts: 1655
Joined: Tue Oct 02, 2018 6:10 pm
Location: NYC

Re: Multiple accounts....

Post by retire2022 »

op

use this questionnaire to determine your risk tolerance and use the three fund portfolio

https://personal.vanguard.com/us/FundsInvQuestionnaire
backpacker61
Posts: 224
Joined: Wed May 20, 2020 6:36 am

Re: Multiple accounts....

Post by backpacker61 »

I would recommend consolidating down to one or two accounts, though.

I worked with a parent into their 90's, and having scattered accounts got to be a bit much to deal with.

There were multiple threats of escheatment, too, when they did not maintain regular contact with the providers of some of their smaller holdings.
“Now shall I walk or shall I ride? | 'Ride,' Pleasure said; | 'Walk,' Joy replied.” | | ― W.H. Davies
Topic Author
Bbddl
Posts: 4
Joined: Sat Jun 17, 2017 1:28 pm

Re: Multiple accounts....

Post by Bbddl »

backpacker61 wrote: Sat Nov 21, 2020 6:53 pm I would recommend consolidating down to one or two accounts, though.

I worked with a parent into their 90's, and having scattered accounts got to be a bit much to deal with.

There were multiple threats of escheatment, too, when they did not maintain regular contact with the providers of some of their smaller holdings.
As we get closer we plan on consolidating my wife’s 2 plans into her existing IRA with Vanguard. That would make things much simpler.
Topic Author
Bbddl
Posts: 4
Joined: Sat Jun 17, 2017 1:28 pm

Re: Multiple accounts....

Post by Bbddl »

Rick Ferri and Paul Merriman....experience using their services?
rkhusky
Posts: 10472
Joined: Thu Aug 18, 2011 8:09 pm

Re: Multiple accounts....

Post by rkhusky »

Bbddl wrote: Sat Nov 21, 2020 6:25 pm We want to be on the BEST path though.
Depends on what you mean by "BEST". If it is highest return, no one will know that.

Rick Ferri often posts here on Bogleheads, and from his postings and books, you could expect a reasonable plan with him.
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sleepysurf
Posts: 419
Joined: Sat Nov 23, 2013 6:59 am
Location: Florida

Re: Multiple accounts....

Post by sleepysurf »

Bbddl wrote: Sun Nov 22, 2020 4:42 am Rick Ferri and Paul Merriman....experience using their services?
FYI, Paul Merriman sold the firm bearing his name a few years ago, and retired, and now devotes his time to educating others about low-cost investing. Rick Ferri, Allen Roth, and others, offer advice on an hourly basis.
Retired 2018 | ~50/45/5 (partially sliced and diced)
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