Time For An Investment Manager?

03cobra#2

Hobbyist Of Many Hobbies
Established Member
Joined
Feb 9, 2007
Messages
1,287
Location
Cleveland, Ohio
At what point is it a good idea to pay someone to manage your investments? I'm fairly hands off with my money with pretty much everything I have in mutual funds with Fidelity. I seem to be doing ok but I'm wondering if it's time to have a professional get involved and take a look at things. Anyone taking this route?
 

VegasMichael

Well-Known Member
Established Member
Joined
May 31, 2010
Messages
4,458
Location
Empire State
I'm in the same boat. I have Vanguard, Fidelity and TIAA-CREF but am worried about what to do later on down the road when my parents pass away as far as what investment vehicles will be best to avoid taxes and headaches and how best to leave my estate to my heirs.
 

1 Alibi 2

Veteran,...retired Navy !
Established Member
SVTP OG 4 Life
Joined
Aug 27, 2011
Messages
4,773
Location
Hackettstown, N.J.
Took a forced buy-out in 2008, had a 401K + retirement plan fall in my lap @ the same time. Needed to get it invested fast, so I hired a manager, haven't looked back since..
.
 

72MachOne99GT

Well-Known Member
Established Member
Joined
Jul 15, 2011
Messages
4,828
Location
Indiana
My 401k is hands off for me. I pay in, someone takes care of it.

I believe its $12 quarterly. Yea, after 35 years that turns into a lot of money, but I’d rather not think about it.
 

03cobra#2

Hobbyist Of Many Hobbies
Established Member
Joined
Feb 9, 2007
Messages
1,287
Location
Cleveland, Ohio
I have a 401k that I put 10% of my pay in. It's pretty hands off you select the funds you want to invest in and leave it alone. The bulk of what I have is with fidelity in mutual funds and with a new job I took last year we have been stock piling money and not exactly sure what to do with it. I've allready maxed out mine and my wife's roth Ira's. I suppose I could increase my 401k to %15 and see how that goes but I think it's time for some prefessional advice.
 
Last edited:

Adower

Well-Known Member
Established Member
Joined
Sep 3, 2005
Messages
2,506
Location
SAC
At what point is it a good idea to pay someone to manage your investments? I'm fairly hands off with my money with pretty much everything I have in mutual funds with Fidelity. I seem to be doing ok but I'm wondering if it's time to have a professional get involved and take a look at things. Anyone taking this route?
Buy an index that tracks the S&P500. Literally, 90+% of money managers cannot beat it. Save yourself a ton of money!
 

03cobra#2

Hobbyist Of Many Hobbies
Established Member
Joined
Feb 9, 2007
Messages
1,287
Location
Cleveland, Ohio
Buy an index that tracks the S&P500. Literally, 90+% of money managers cannot beat it. Save yourself a ton of money!

Funny you mention that. I actually started that a couple months ago. I plan on putting my money in that until I figure out where to go from there.


Sent from my iPhone using Tapatalk
 

Adower

Well-Known Member
Established Member
Joined
Sep 3, 2005
Messages
2,506
Location
SAC
Funny you mention that. I actually started that a couple months ago. I plan on putting my money in that until I figure out where to go from there.


Sent from my iPhone using Tapatalk
Great idea! You can do it yourself.

You literally do not need to do anything else until getting close to retirement. Once close, Re-allocate from 100% large cap funds to a mix of large cap and bonds depending on your tolerance for risk.

I don't see why anyone wouldn't be in 100% stocks at anything under 55 years old if retiring at 65.
 

Riddick

MERICA
Established Member
Joined
Oct 25, 2012
Messages
2,640
Location
Dayton, OH
Roughly 10 years ago I decided to hire an investment manager based on multiple co-workers recommendations. I ended up moving all of my money with the exception of my TSP over and was charged a front load fee of roughly 2%. Also, all the future money I invested was subjected to the front load fee. Once I figured out what was going on I pulled chocks immediately. I lost thousands in the process but I learned a valuable lesson, do your own research..... don't trust others. If looking for investment managers do like someone posted above and work with ones who charge flat rate fees.

Since then my wife and I focus on our TSP as we feel thats the best bang for our buck. After maxing that we then start investing in our Schwab Intelligent portfolios. They asses your risk and goals and the fund adjusts itself accordingly. We keep our Roth IRAs, Emergency fund, kids funds, and general investment fund for leftover money with Schwab. It works for us but there is nothing wrong with investment managers, just dont deal with one that charges front end load FEES or tries to sell you WHOLE LIFE insurance........
 

lilcoop03

Well-Known Member
Established Member
Joined
Jul 28, 2009
Messages
611
Location
sc
I watch a lot of The Money Guy show on YouTube and feel that they offer solid, real advice for most people. I think they suggest an investment manager when your portfolio reaches a considerable amount (think $200k-$500k range)
 

ford fanatic

Four Eyed Freak
Established Member
Joined
Oct 1, 2006
Messages
3,458
Location
Darlington, Md
We've had one for years. He manages a substantial amount of rollover 401K's, our daughter's 529 and our Roth accounts. We meet once a year and he also advises on relocating our company 401K's if need be.

He lives and breathes this stuff, no way we could manage it better. Definitely worth the money.
 

HuntFishCobra

Well-Known Member
Established Member
Premium Member
Joined
Oct 29, 2011
Messages
1,280
Location
KS
I’m a CFP and am one that more or less lives and breathes this stuff. Happy to talk to you about DIY vs. what a pro will/can do. Don’t want to clog the thread and not trying to be sales-y lol
 

03cobra#694

I Have LL’s Hammer
Super Moderator
Joined
Aug 12, 2008
Messages
55,732
Location
SW FL.
My middle boy is a wheel with Fisher investments. He can’t do my stuff, but they’re good. Problem, need at least $500K to talk with them.
 

cobracide

Well-Known Member
Established Member
Joined
Aug 23, 2002
Messages
8,820
Location
Cacky Lacky, USA
Did the conservative mutual fund diversified thing for 20 years. Didn’t get rich but didnt get poor either. Transferred to self management portfolio, traded my own picks. Much better performance with increased risk. Invest in what you know, so your due diligence and you will more than likely be significantly rewarded over a conservative investment strategy. If you can’t handle high beta and invest the time to research your own picks - then stay with a no load index fund.
 

03cobra#2

Hobbyist Of Many Hobbies
Established Member
Joined
Feb 9, 2007
Messages
1,287
Location
Cleveland, Ohio
Just wanted to check back in after a few months
Paychecks going up (that's a good thing), been throwing extra money at the house ($89k payoff, value roughly $300-350k), and started putting money into a S&P index fund now valued at over $30k. I'm still doing 10% retirement, contributing to my 9 year olds 529 every month, and 6-8 months of expenses in my savimgs I keep doing my own thing or reach out to a pro?

Reason I'm asking is I'm making more money then I ever have and want to make I grab every dollar I can in case I loose this job and go back to earning less money.

Medium term goal is to get the house paid off.

Long term goal career permitting is a vacation home within 5 years, and hopefully retire in my late 50's at the latest.
 

Users who are viewing this thread



Top