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Investment help
Posted on 7/18/17 at 2:05 pm
Posted on 7/18/17 at 2:05 pm
My father has been investing for me he pulled everything out right before the election and I have not re-invested anything.
Basically I have $500,000 in SEP and Traditional IRA accounts sitting in a money market. I am 52 y/o and hope to work for another few years. I am self employed with no pension.
Any investment suggestions would be greatly appreciated.
Basically I have $500,000 in SEP and Traditional IRA accounts sitting in a money market. I am 52 y/o and hope to work for another few years. I am self employed with no pension.
Any investment suggestions would be greatly appreciated.
This post was edited on 7/18/17 at 2:33 pm
7
Posted on 7/18/17 at 2:10 pm to sw0099
Vanguard target retirement fund is probably an easy vehicle. Diversification with an appropriate risk profile.
Posted on 7/18/17 at 2:48 pm to sw0099
Posted on 7/18/17 at 3:02 pm to sw0099
quote:
My father has been investing for me he pulled everything out right before the election and I have not re-invested anything.
Posted on 7/18/17 at 3:04 pm to sw0099
quote:
My father has been investing for me he pulled everything out right before the election and I have not re-invested anything.
Well there looks like your father doesn't want you retiring...
Posted on 7/18/17 at 3:24 pm to sw0099
quote:
My father has been investing for me he pulled everything out right before the election and I have not re-invested anything
Ouch.
Posted on 7/18/17 at 3:26 pm to sw0099
For the love of God, interview advisors and find one you like. If you have 500k that you haven't done anything with since November, that's probably an opportunity cost of 60k in 9 months...
If you do as others are suggesting and you get nervous when you find your target date fund down 10-15% and pull all your money out again, you'll miss out on the next run up too.
Low cost, indexing, really only works if you can set it and forget it. The trepidation you've shown over the past 9 months says you can't. Rather than DIY to save a few bucks, pay someone who knows what they're doing.
If you do as others are suggesting and you get nervous when you find your target date fund down 10-15% and pull all your money out again, you'll miss out on the next run up too.
Low cost, indexing, really only works if you can set it and forget it. The trepidation you've shown over the past 9 months says you can't. Rather than DIY to save a few bucks, pay someone who knows what they're doing.
Posted on 7/18/17 at 7:08 pm to sw0099
Start listening to your mother instead.
Jokes aside, your dad is clearly an emotions based investor. Politely decline ANY & ALL financial advice from him in the future. You have enough set aside that a good financial advisor could/would help you.
Jokes aside, your dad is clearly an emotions based investor. Politely decline ANY & ALL financial advice from him in the future. You have enough set aside that a good financial advisor could/would help you.
Posted on 7/18/17 at 8:28 pm to Jag_Warrior
quote:
Start listening to your mother instead.
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