Too aggressive? Need to balance more? |
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endo302
New Poster
Cash: $ 0.45
Posts: 2
Joined: 28 Feb 2016
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Too aggressive? Need to balance more? |
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All: greetings. I'm a new member here but heard great things about the forum so looking forward to getting to know you all.
I am curious to get some opinions. I'm turning 30 this week and I'd like to start learning about my personal wealth management. I'm generally aggressive in the way that I invest, so I'm looking to really diversify and make sure I'm staying relatively safe.
Some background:
- I have a great job that pays over $210,000 after bonuses etc.
- This job gives me options, worth $150,000 at the moment, vesting fully in 2019
- I sold both of my restaurants in 2015 for a profit
- I have interest in angel investing, and I am currently invested in two companies that have increased valuation over the last year by 2 fold, total spent was $75,000
- I also have loans from school (roughly $40,000 left from a doctorate and MBA). I recently re-fi'd to 1.9% which I'm extremely excited about!
- I am saving quite a bit, invested in the stock market (low risk), and have a growing 401k (low risk).
- Single and no dependents
I usually like to stay a little bit liquid and I'm almost always above $75,000.
That said, I wish to be more safe with some of my investments. I am extremely aggressive with where my money goes and I'm not blind to that. I spend a lot of my time reading about my angel investing that I forget to read about the things like bonds, indexes, etc. I feel so much more confident about my angel work than I do about my long-term growth portfolios.
Therefore, I'm wondering whether or not I should consider hiring a personal wealth management advisor. Someone reached out to me this week and we had a great conversation. I understand that my angel investments are risky so I want to focus a bit more on the long term, slow-growing portfolios... you know the less exciting stuff.
1. Do you think I should hire this advisor?
2. Do you think I should keep this advisor for the long term?
3. What questions should I ask this individual to make sure they are the right fit?
Thanks very much in advance - really looking forward to what you have to say.
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Sun Feb 28, 2016 2:32 am |
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SCEngineer
Member
Cash: $ 3.90
Posts: 19
Joined: 28 Jan 2016
Location: South Carolina |
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Not really my area of expertise, but happy to throw my 2 cents to you. Alpha is almost impossible to determine. Since picking an advisor is basically throwing your money to someone who claims to get you alpha, I'm not a fan. If you want low risk stock investing, just flip through a few vangaurd funds. Find anything that says "bond" with an acceptable rate of return and invest.
If you're looking for a little bit of handholding, robo-advisors are the big trend right now. The fees are very low (less than 0.50%) and you'll get advice on how to invest. Including Roth vs. Traditional IRAs (yes you can still backdoor a Roth IRA at your income) and IRAs vs Taxable accounts. They'll suggest specific funds that have at least matched the 11% return of the S&P500. The advantage is that the low fees offset the cost of the advisor.
If the advisor is charging 2% he'd have to net you a 13% return over you purchasing an S&P index fund on your own. The robo-advisor should be netting you about 11.5% which I find much more reasonable. Or open your own vangaurd accound and pick a few funds for yourself. This gets you to pay a flat fee to buy/sell and you pocket all of your profits.
Congrats on the great job and realizing that developing your own passive income stream beats the day job anyday.
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Fri Mar 04, 2016 12:27 am |
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selina9
Contributing Member
Cash: $ 2.75
Posts: 27
Joined: 17 May 2016
Location: ctg |
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Tue May 17, 2016 10:53 am |
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