Rollover 401K needs revamping - switch to ETFs?

[Anonymous]

I have $600K in my rollover 401k at schwab. (I am 50 and I started saving in it when i was in my 20s and then 10 years ago switched jobs and moved to rollover IRA. ) The funds I choose years ago are now two star and three star funds on morningstar and low performers compared to their benchmarks. I am struggling in picking new funds and hating the mutual fund fees of 1% or greater per year (ie approaching $800 in fees per year for not doing any better than an index fund).

Anyone switch their IRAs to all ETFs? I was thinking i would break it down 35% large co, 25% intl, 20% bond/cash, 20% small/midcap.

I was thinking to switch to schwab funds because they are so cheap but vanguard seems to have many good choices as well. Is it best to pick one family of funds? My mish mash of funds now are so confusing. Some of the mutual fund companies have really gone downhill so I am wondering if its best to pick a reputable company and just get their funds across the board.

Thanks for your thoughts.

[Anonymous]

Do you have a financial adviser for your non-IRA assets? If they are a fee-based adviser they often can make recommendations even if you don't move your IRA (or can't move your 401k) to them. Otherwise, you've either got to get into a retirement year based fund (Fidelity has these and so do others) or do at least annual and preferably quarterly maintenance. You can't just pick a company and forget it. Try to find some sources of an appropriate asset allocation in your circumstances that are not sources trying to sell you things. Good luck!