Awesome advice, I agree 100%!MrJones wrote: ↑Sun Aug 19, 2018 5:15 pmWelcome to the forum. You're in great shape overall, once you fire that advisor and simplify. Here's my recommendation for starting out:
Of course, the very first step is to fire your advisor immediately. Send a polite but firm thank you note saying their services are no longer needed. Then,
1. Keep $100,000 in the bank for emergencies
2. Take *all* the remaining money you have, and put it into this one single fund at Vanguard:
LifeStrategy Conservative Growth Fund
https://investor.vanguard.com/mutual-fu ... estrategy/#/
All you have to do is call Vanguard, open an account and let them know that you have all your funds at Schwab and Chase, and ask them to help you sell and transfer them. They'll guide you.
3. Withdraw up to 4% of your original principal invested in step 2, from this fund every year, and spend it to your liking.
This is very easily doable and will get you 90% of the way there. You can do this, and nothing else, and live the rest of your life and achieve your financial goals. However, if you get really comfortable and want to optimize that last 10%, these initial steps will still let you do that, say a year or two or five from now.
Have a question about your personal investments? No matter how simple or complex, you can ask it here.