I’m 26, married, about to become a dad, buying a yurt and embarking on a 10 year experiment that I’m going to call “My Entire Financial Future.” I received an inheritance of $52K from my uncle (GOD BLESS HIM!) which I was encouraged to place in an American Funds Beneficiary IRA. I’m convinced that Vanguard would have been a better option, but I knew nothing at the time and decided to trust the Dave Ramsey crew on this one. We’re going to keep it, BUT now that I’m a slightly more learned, albeit wet-behind-the-ears, Mustachian… I want to set up a second investment account based on MMM’s advice: either a “two lump-sum purchase of Vanguard’s Total Stock Index and Total International Funds” or a Betterment account (
http://www.mrmoneymustache.com/2014/11/04/why-i-put-my-last-100000-into-betterment/)
This second account is the one I will invest my monthly savings into as well as a $4K jump-start. I’m content to let American Funds manage my inheritance but I want to take a more mature and calculated approach to this second account which will consist of my hard earned savings. I hope to contribute $1000/mth
Q: Do I…1. Start a Vanguard account and try to mimic my American Funds portfolio, thereby guaranteeing a higher yield (same or similar investments, less fees)
2. Start a Vanguard account and make a “two lump-sum purchase of Vanguard’s Total Stock Index and Total International Funds”
3. Start a Betterment account
4. Something else
THANKS!
-Drew