Hi all. Brand now here. Look at that post count. Wooo.
I am looking for some advice that doesn’t come from someone with skin in the game. I’ll explain.
I’m 49. I have the following:
401K at work - all set. Contribute full amount with employer match.
IRA managed by LPL - this is prior 401Ks rolled into a single IRA.
General investment account at LPL - about 66K. Down on year due to recent market conditions.
AMEX personal savings account - about 107K. This is OK for savings @ 2%, but it’s a lot of cash to have sitting around. Been OK recently because it’s just a savings account and doesn’t lose money. Of course, it can’t earn much, either.
Chase checking account - this where bills get paid from. About 30K here. This needs to stay above $15K.
Betterment general investing account - 28.5K. Down from 30K due to recent market conditions. Like an idiot, I’ve added no money over time, so have not averaged dollar cost down.
529 plan - 42K here. Should be at appropriate amount in 4 years when it’s needed.
So my dilemma: what do I do with my undeployed cash? (AMEX/Chase/Betterment)
I have scheduled a $1K Betterment deposit with $500/mo starting next month. But that still seems awfull conservative given how much I have lying around earning only 2%. What would you suggest?
Of course my LPL guy tells me to give it to him, but his management fees are higher and I’d rather do it myself so I have more flexibility.
I know this comes across as a bit of a mess, but just wondering where I could shore things up. I am OK on the 401K, IRA and 529 stuff, it’s the cash and ‘general investing’ that I am trying to optimize.
BTW, new to MMM entirely, what a great resource. Thanks in advance, all.