Any info appreciated. Had a telephone meeting with them today. Sounds decent service so far. Looking for a company that will manage our portfolio trying to maximum income from the portfolio. Don’t want to do it on my own. Not really schooled well in financial matters.

We do not own a home. Everything is paid for. And have no debt. Looking for dividends and gains to make the house payment. Looking at about 180k to 325k house and land. It would be out of California in a state that was RED and affordable.

I am 64 and will be 65 in three months. Due to health issues not going to work or should I say can’t work anymore. Wife is 58 and has health issues of her own currently. Doesn’t take a lot to keep us happy. Roof over our head, heat in the house, and food on the table will do. Maybe a reloading bench.

We have over 800K in three 401K Accounts. Trying to use the dividends and growth to cover house and some medical costs. Are we even close to the ball park of success?

Thanks for any info you could share or if you could recommend another firm.

This thread: Link might have what you are looking for.

For what its worth, a co-worker of mine who is worth about $8M himself...made his money selling two former businesses and self investing in stocks. He Moved just under $800K to Fisher about two years ago and another $250K this past year. He is very happy and his earnings have been consistently in the double digits the past two years. First year he made just shy of 40%. Fisher also has never had a complaint through the SEC. Nearly every financial company in existence has at least one mark against them. The only downside with Fisher is you have to have at least $200K, $500K preferred to invest with them.

You are above the average for retirement savings. I think the median is less than $100,000. Congratulations.

I have an MBA and I have a lot of experience and knowledge in stock investing. But I have a portion of my total investments with Fisher, about 60% because I want the discipline of sticking to a strategy. I still managed to mess that up because I insisted they switch me to 30% stock/ 70% bonds from 70% stock/30% bonds after the election. I think I missed out about 15% increase in the period since then. The rest I manage myself using subscriptions to Motley Fool and another service.

A good benefit from them is the amount of education they offer when you're a client in terms of outlook. Pre-Covid, they would have the seminars in nice places and serve you a meal.

I don't know about "maximizing" anything. But I think they will manage your money correctly with your goals in mind.

I interviewed several firms before deciding on them. They're open about their strategy. What they do for everybody else, they'll do for you since it's all automated. The customization they do for you is your bond/stock mix in accordance with your goals and risk tolerance. With the other firms, I'm not sure whether their "custom portfolio" is really custom for me and if it's truly custom, how much attention will they pay to my portfolio compared to a bigger client.

I don't think you can't go wrong with Fisher.

The big thing for you now is figuring out where you're going to move to. Have you done that yet? I'm still torn between AZ and TX and slightly leaning to TX. But I have to find a place that doesn't get flooded with minimal snow along with crime, cost of living, healthcare access, etc.

Good luck.

I’m in a similar situation as you, and looking hard at Fisher. I’m far from an expert, but might be able to answer one of your questions.
My goal is to make enough growth/interest to give me 4-5% to live on, and enough extra to grow the investment.
So, 4% of $800,000 is $32000 per year. Add Social Security $30,000- $40,000? And of course there is income tax...

One of the things I think I’ll like about Fisher is all the help that’s available.
I have an Annuity, they dissected it and explained the pros and cons of the plan. They have tax planning, and Social Security planning.

For me, having experts help me manage my investments and guide into retirement is worth the 1-1/4 to 1-1/2%. As long as we make money...

The question in my mind is whether you have enough money amassed to pay for a $300k mortgage on top of living expenses for two for the life of the mortgage. Other than the retirement accts and SS is there anything else? Your retirement accounts seem good. But a new mortgage of $300k at 65 seem's a bit on the risky side.

Maybe good, maybe not.

I would not like having that big of a #1 liability like housing at the point you guys are at myself.

What's their fee? 1.25% to 1.5% would be on the high side.


TS

At mid 60’s with a handful of assets? Is it to simplistic to spread between a Total Stock market or s&p 500 index fund(low cost) & some capital preservation accounts?

One always has the peripherals to deal with, health care, housing, maybe even partial pension payments.

I like to compare returns that are ‘managed’ to the indexes, often it’s a ‘rising tide lifts all boats’ sort of a thing.

I think Of assets I may have with Vanguard(mostly), kinda just me, but can’t imagine going into an office & turning things over to the ‘investment guru’. That’s not at all to say some wouldn’t get a benefit from specific advice.

https://www.evidenceinvestor.c...ndex-funds-who-wins/

https://www.cxoadvisory.com/in...shers-stock-picking/



Just added the article, yes, UK reporting.

This message has been edited. Last edited by: sourdough44,

The top 5 stocks in the S&P500 represent 20% of the value: Apple, Microsoft, Amazon, Facebook, Tesla. The next 5 stocks represent an additional 7%: Alphabet Class A, Alphabet Class C, Berkshire Hathaway, Johnson & Johnson, JP Morgan, Chase & Co. Are you really diversified if you own an S&P 500 index fund?

The irony for me is I purchased SPY, an S&P500 ETF, back in 2009 and it's done well. There are 5 companies represented by 6 stocks on that list that I would never have purchased if I invested in individual stocks. If I had purchased only those stocks back then, I'd be flying on private jets and own a yacht. They returned 6,220% vs. the S&P500's mere 440%.

This message has been edited. Last edited by: trapper189,

please avoid companies like this

1.5% fees on $1M in assets is $15,000 a year. crazy. 10 years out you have paid $150K in fees ???

you can totally set and forget this : Google 'Bogle Three Fund Portfolio' and learn. basically all the diversification you need in three LOW COST index funds / ETFs.

another asset is simply an appropriate Target Date Fund. Vanguard's Target Date Funds fees are a FRACTION of 1% for solid diversification.

over time fees like 1-1.5% AUM are a big drag on performance.

Also -- go to Bogleheads Forum. That is the 'Sigforum' of low cost / self-directed investing. Very smart individual investors over there.

(named in honor of John Bogle -- RIP -- the patriarch of index investing...)

----------------------------------

Sig209,

You make some good points. I do like the idea of a group of experts maximizing my investments.
But, if you take 1-1/2% and add the rate of inflation of 3.18%(?)

quote:

Originally posted by TBH:
I’m in a similar situation as you, and looking hard at Fisher. I’m far from an expert, but might be able to answer one of your questions.
My goal is to make enough growth/interest to give me 4-5% to live on, and enough extra to grow the investment.
So, 4% of $800,000 is $32000 per year. Add Social Security $30,000- $40,000? And of course there is income tax...

And capital gains tax (against losses) on whatever you sell.

quote:

One of the things I think I’ll like about Fisher is all the help that’s available.
I have an Annuity, they dissected it and explained the pros and cons of the plan. They have tax planning, and Social Security planning.

All (well, all that I've dealt with and interviewed) offer those same personalization consultations and education seminars, as those tend to be a pretty standard perk in a relationship with investment compamies.

quote:

For me, having experts help me manage my investments and guide into retirement is worth the 1-1/4 to 1-1/2%. As long as we make money...

That's true to an extent, as I don't advocate self-guidance in investment if there's not the knowledge or desire to manage one's own money, but that difference between a sub-1% fee and 1.5 on the entire account balance adds up, year after year. I would make fee comparison between companies a key component of your (and the OP's) decision -- not the only one, certainly, but it should among your most central concerns, given that if Company A and Company B are providing the same essential service and advice and have the same general reputation in the industry, why pay A thousands of dollars more per year...the difference between a company charging .75% and 1.5% per year on a million dollars is $7500...over ten years that's $75,000 that you haven't been able to enjoy for your retirement. Case in point: I spent far too long at Merrill-Lynch paying 1.5% for a Private Client advisor account, then after negotiating it down to 1.3% (after telling them I wanted 1% and they refused), I compared and interviewed a number of regional and, more to the point, national investment companies (Fisher, Fidelity, Edward Jones, Vanguard, et al) and soon moved over to Charles Schwab, where their Private Client service and advice have been similar, if not better, than Merrill, and I'm now paying an average of .06% on my accounts. That near 1% difference is a massive savings that not only preserves the core balance to a greater degree, but of course then more quickly compounds the returns as well.

[QUOTE]Originally posted by TBH:
Sig209,

"snip... if you take 1-1/2% ...snip"

Don't take 1.5%, take 1.5 minus your low cost alternative to get the premium you are paying for quality. inflation is what it is. Narrow your decision points for a better decision.

If and when my mental capacity slows Fisher will be my choice. The ground work is already done.

Good call wishful thinker. I had a meeting with Fisher last night. One of the questions I asked is what has Fisher’s average return been since they started managing investments. 9.4% and that’s after fees!