Working with financial planner/advisor?

[ceciltguitar]

Some ideas to consider:

http://contourfinancial.com/download...rces-NAPFA.pdf

[rokdog49]

Originally Posted by JonWint

As soon as you realize that you have more assets than you need to live, your investment horizon lengthens to that of you heirs. Why forego maximum potential returns? You can afford a temporary market drop.

I'll be 69 in a month. We're about 75% stocks; 25% bonds. Up 226% since retirement in 2014. My 96 year old mother made 9% last year in an income fund. I'm thinking of putting her into a riskier fund. She'd have to live 15+ more years to outlive her money. (I don't think she will.)

The simple answer to what you are saying is the word “need”.
We don’t need growth.
Having said that, what if the market drops 10-15% in the next 12 months and my wife or I need to go into long term care? Now all of the sudden that becomes relevant to our nest egg. We prefer stability at this stage of the game.
BTW, don’t think that kind of drop isn’t possible. I believe it’s highly likely.
JMO.

[keith.rogers]

I think a lot of it depends on how much you want to do yourself, and, of course, how much effort you are willing to put into it. Me, I'm in the lazy years...

When I retired almost 6 years ago my wife said it was time I stopped worrying about this stuff so I/we consolidated everything at Vanguard. I already had a rollover IRA there from some previous employers but the 401k was with Fidelity. I looked around, but I like the low fees and variety of mutual funds at Vanguard. (I am not a stock trader.) I do pay for the advisor services, and I don't feel like it's excessive since it means I don't have to do a thing except decide whether to take a call with our guy every quarter. What I'm paying for is simply not even looking at things I'm not that interested in, and knowing that the investments are based on our plans and risk tolerance. Sure, they have computers and formulas, but it's saving me countless hours that I can use to play guitar, or do anything else, including while away hours on the internet .