Managing own money

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have a fidelity wealth manager. He and his teams services are free (not that I need them for much I manage my money myself but I double check tax implications etc with them before I make a move)

You do understand that they are actually not free right? The revenue has to come out from somehwere, such as recommending Fidelity funds or other products that they get commission from.

Wrong. It’s free. I don’t have a single Fidelity ‘product’ in my portfolio and I have millions. I’m in stocks and various ETFs. I’m fully self directed. But I have a wealth management dude I can call (actually I can text him these days) and ask questions. It seems you don’t understand how institutional custodians work.

[Anonymous]

Across all accounts, including retirement, 529 plans, and brokerage accounts, I put everything into VTSAX or whatever version of that is available, and it has worked very well for me over the past 20 years. I have mid-seven figures across the accounts. I also have cash-flowing real estate that is a hedge against a market collapse, and I keep 2 years' worth of reserves in cash equivalents.

Unless you have enough money to get into VC and private equity and take advantage of tax planning, it's unlikely that a money manager will do better for you than my straightforward approach. I pay minuscule fees for VTSAX.

[Anonymous]

Anonymous wrote:Across all accounts, including retirement, 529 plans, and brokerage accounts, I put everything into VTSAX or whatever version of that is available, and it has worked very well for me over the past 20 years. I have mid-seven figures across the accounts. I also have cash-flowing real estate that is a hedge against a market collapse, and I keep 2 years' worth of reserves in cash equivalents.

Unless you have enough money to get into VC and private equity and take advantage of tax planning, it's unlikely that a money manager will do better for you than my straightforward approach. I pay minuscule fees for VTSAX.

Agree. Need 8 figures to make it worth it. I’m not jumping into PE or doing massive tax loss harvesting with anything less than that.

[Anonymous]

I used to use Betterment which has a roboadvisor because XH set that up. I switched over to self management and it’s easy. I am mostly only doing S&P and a small allocation to “fun” semi-gambling stocks. I recommend Bogleheads and socialcapofficial.