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newbie with retirement questions.

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614Engineer
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quote:
Originally posted by newbie2017
I really appreciate it gentleman. Its why im so conservative, not truly knowing what im doing...tough to trust a stranger with your stash.


You're welcome. And you SHOULD be very cautious. Keep learning, that's your best defense and offense at the same time...
Post Thu Sep 14, 2017 8:44 pm
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gavin5
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You've done very well!
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Post Fri Nov 10, 2017 2:19 am
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ankita
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Post Tue Dec 05, 2017 6:51 pm
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ankita
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Post Tue Dec 05, 2017 7:52 pm
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boatswain2PA
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quote:
Originally posted by newbie2017
So with 200k liquid, 50k already invested with my broker. how much would you recommend taking from the savings and investing in this franklin fund. Remember im conservative lol


You don't need a broker. He's scamming you.

You're only 49 years old. You have about a 20 year window until retirement, you don't have to be uber-conservative. However, you DON'T need a "broker" to take 2-10% of your money every year.

Figure out what your necessary living expenses would be for six months. Keep that in savings. Okay, you're "very conservative"...so keep one YEAR of NECESSARY living expenses in savings. I do that by having about 4 months of living expenses in a savings account, with 8 months of living expenses divided into 4 rolling 12-month CD's (I have a CD that comes due every 3 months). That's my emergency savings (I get hurt and can't work for a year)

Open a Vanguard, or fidelity, or Dodge & Cox, or (pick your company you like).

Put 50% of the remaining amount into a S&P 500 mutual fund. Look for one with low costs.

Put 25% of the remaining amount into domestic (US based) small cap mutual fund. Again, look for one with low costs.

Then put the rest into an international fund.

Now you're well-diversified, without paying the (likely) high fees of your broker.
Post Sat Dec 16, 2017 6:14 am
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kavyasharma
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Post Wed Dec 27, 2017 7:38 am
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Post Wed Jan 10, 2018 8:15 am
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kennyw
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In about 20 minutes, you can transfer that passbook savings account balance into an e-bank savings account and increase your interest rate by a factor of 3.

Also, sounds like you could easily do away with your "guy" and do at lest as well on your own.

Stock picking, or worse paying someone else to stock pick for me, has always seemed to me to be a losing proposition. I've done far better putting money in low cost broad market index funds, and leaving them alone, than I ever did trading individual stocks.
Post Thu Jan 11, 2018 8:14 pm
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614Engineer
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Re: newbie with retirement questions.  Reply with quote  

quote:
Originally posted by newbie2017
Ok, so im 49 an single...


Newbie2017, what did you decide sir?

Can we help any more?
Post Tue Jan 16, 2018 9:04 pm
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rvalmeeki
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You are going in a right direction. I wouldn't find anything wrong.

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Post Tue Nov 27, 2018 9:57 pm
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