Your criticisms are valid. Yes, I am a collector and a tinkerer.james22 wrote: ↑Sun Nov 05, 2023 8:28 pmSure.
I'll admit half my problem with the portfolio is it offends my sense of elegance. But I'm a minimalist.
You're a collector and like to tinker. Better for you to stick with that.
Because I believe you have to like what your portfolio looks like.
There might come a time that I would want to greatly simplify this. I track things with Quicken and Morningstar and the recordkeeping does take time. But I am an Accountant by trade, I like to keep records. My portfolio structure hasn't changed a lot in 20 years. I have consolidated my accounts a bit, the monies have grown, and I have branched out somewhat with my investments. I also like to do the analysis.
One reason I tell people not to blindly follow what I am doing. Most people don't want to do the analysis and the record keeping. I have done some quirky things.
What I hope is that people will learn how to use the tools that are out there, many of them are free. I do have a Morningstar subscription and that helps me with the analysis. Perhaps this will give them ideas on how to do some analysis of their own portfolios. I would also hope that people get some ideas on their own retirement planning.
Like I said above, when I do portfolio reviews for others, I will give standard Boglehead advice. I don't get into Factor tilting or talk about too many investment options because the object is to get people to invest in the first place. Too much information and too many options can be really intimidating. I think the simple 3-5 Boglehead portfolios are good.
What is weird is that my simple portfolios are doing better than the more complex ones.
But one reason I know something about investments is that I have done a lot of things and owned a bunch of stuff over
the years. You learn when you have real life money on the line with real life investments. To me, it was almost like getting another Bachelor's Degree, I have learned that much. I have learned an awful lot about business, the markets, and the economy.
The other thing is that I wanted to work with an Advisory service to get good retirement planning. Nothing is perfect and I have looked around for over 20 years. I don't recommend working with stock brokers, but I have for a lot of years and fortunately I wound up with very good people. So American Century seemed worth a try when they started offering their Private Client Group. The quality of their service has improved, I like the fellow that I am working with, a big part of this is working with the software and knowing how to get good results from it. I can log in anytime I want and input so that when I meet with him, everything is as accurate and up to date as possible. It is the old saying that you get out of something what you are willing to put into it.
What I am hoping for is that people who are thinking about using an Advisory service will get an accurate picture of what they can expect. Sometimes all it takes is one or two really good ideas to greatly improve someone's financial situation.