[USER]

Me and my wife have about $3 million in vanguard mutual fund brokerage etf accounts. 60% is taxable funds, 35% 403b and 5% in in our teenage kids 529 accounts and a few thousand in money market.

Also have about $20k in regular checking and savings.

We are in early 50’s and looking to retire in 5 years. My wife will have a teachers pension which will be about $4k a month along with a lump sum at retirement of about $150k.

She has school medical benefits until 65.

My question is if we should use the vanguard financial planner services to manage our funds.

Their cost is somewhat low and much lower than other advisers.

I have an adviser friend who has steered me in that direction to use vanguard as he expects we would benefit from this long term based on tax savings?

Does anyone have any thoughts on this approach or should we continue to manage this on our own?

[Chong]

How did you get up to that number? How long did it take? Ehat stocks, ETFs, bonds, etc. Did you use

[En]

We somehow managed to find a fee only CFP that doesn’t do the work for us but just provide advices.

This serves most of our tax planning need but keep the expenses low compared to asset management model

[Robert]

“Planner Services”… is that like…being a ‘financial advisor”? I’ve given my opinion on “financial advisors” previously- here it is again.

If this dude (and most of them are dudes) could really make money FROM money- would he be working a job?

No, he’d be sitting on a beach in Brazil, sipping drinks, and boffing bronze-skinned babes.

(Hope I didn’t offend anybody, but that’s how I see it.) It sounds like you two have done a fairly killer job so far, without the services of a “financial planner”.

If you have tax questions, pay for a consultation with a good CPA/Tax Accountant.

[Kathy]

I went with a wealth management company to manage ours and have helped a lot with taxes. My husband has to take rmd and we both have pensions

[David]

Cost of getting a CFP from Northwestern University: Between $4,700 and $8,300 depending on course delivery method.

Fees Edelman Financial Engines would charge me to manage my brokerages and retirement: $21,375 per year.

I’m not a fan of planners taking a percentage cut. I’ll pay them hourly for their advice only when needed or do my own.

In retirement, I might do a CFP. I’ll be retired, I’ll have time. I would not do it unless you needed the help.

[Author]

Posts