Author Topic: Want to finally get a handle on our patchwork investments  (Read 1030 times)

jscott2135

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  • Age: 38
  • Location: Forest Grove, OR
Want to finally get a handle on our patchwork investments
« on: June 14, 2017, 10:29:31 AM »
Basics
Annual Income $180-200k
We have restricted stock options that will begin vesting next year worth approx 75k
401k has 12k in it (just started this job) 14% contribution with 6% match
Fidelity 500 Index Fund Investor Class has $8700
Ameriprise IRA has 196k (rollover from last job) Hubs thought it would be a great idea to pay a financial adviser 1% to manage this. I can't even blame him since I have been MIA dealing with fathers cancer and death over the past 3 years.

I had tried to get a handle on investments and educate myself before dad got sick and got totally sidelined.  I will look up the reading suggestions I remember seeing on here and start there but in parallel which order should I tackle these investments to make sure we're being intentional with our $ and not totally throwing it away.

Another Reader

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Re: Want to finally get a handle on our patchwork investments
« Reply #1 on: June 14, 2017, 10:40:46 AM »
Fire Ameriprise immediately.  Do not give them any more money or allow them to reinvest dividends or capital gains in their high-load mutual funds.  Once you have determined what funds you own and if any are proprietary funds sold by Ameriprise, decide which funds need to be sold and which funds (if any) should be transferred in kind to the new custodian.  In your shoes, I would look at Fidelity and Vanguard.  Check out the bogleheads forum for discussions of the pros and cons of both companies.  I use both, but prefer Fidelity because of the service, the website, and the bricks and mortar offices.

Nothing wrong with the 500 index fund in the new 401k for now.  Eventually you will develop an asset allocation and you can make changes then if needed. Just get started now!