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MDTiger 13
LSU Fan
Fairhope, AL
Member since Nov 2010
954 posts

Recs for next step of investing

To keep it simple, I’m looking for recommendations on the next step towards investing/retirement planning. My financial knowledge is extremely limited compared to most on this board, but a lot of what I read on here is pretty sound.

I’m in my mid-30s with wife and 2 kids. Got started saving for retirement very late compared to most because of my career. As far as what I do now, my company maxes out our SEP annually, wife and I max our back-door Roths annually, and am very close to having a fully funded emergency fund (6 months). I’ve also been setting aside money for other investing opportunities for a while, and am now left with a fairly large amount and have no idea what to do with it. My financial advisor (I know I could be doing everything on my own but there are times I like him walking me through some things and knowing that someone other than me can keep me on track) is recommending a brokerage account for him to invest. Is this the right option? Or would it be better to just start my own outside of him and set and forget in somewhat predictable index funds? My wife and I have toyed with the idea of rental properties in the past, but unfortunately the market for everything has skyrocketed once we were financially stable enough to start.

I’ve done some research myself, but with my limited time outside of work and trying to be a good father, I seem to just end up chasing my tail on things. Would a brokerage account to start following certain funds and companies be a decent next step or are there other opportunities that I’m overlooking?


JohnnyKilroy
New Orleans Pelicans Fan
Cajun Navy Vice Admiral
Member since Oct 2012
29644 posts

re: Recs for next step of investing
If you want a set it and forget it just autodraft into VTSAX or something like that.

Sure you won't make some outsized gains or anything like that, but guess what: You'll never have returns less than the market.


Not everyone will agree, and that's ok. But just dumping everything into a total market fund while you're young and have many years ahead of you is probably the easiest and safest way to generate real wealth.


Wallace Ritchie
Iowa State Fan
Des Moines, Iowa
Member since Oct 2021
299 posts

re: Recs for next step of investing
I wouldn’t pay someone to charge me to manage my brokerage account. Look up Paul Merriman’s ultimate buy and hold portfolio. Tons of research on its projected gains. I do this through M1 as a weekly deduction. With M1 this also functions as an emergency account as you can borrow against your portfolio at 1% if needed. Advisors are great for planning but they aren’t going to get a better stock market outcome than broad index funds. Save the 3%.


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TheWiz
LSU Fan
Third World, LA
Member since Aug 2007
11295 posts

re: Recs for next step of investing
quote:

If you want a set it and forget it just autodraft into VTSAX or something like that.

Sure you won't make some outsized gains or anything like that, but guess what: You'll never have returns less than the market.


Not everyone will agree, and that's ok. But just dumping everything into a total market fund while you're young and have many years ahead of you is probably the easiest and safest way to generate real wealth.




This is how I ride. I am in my mid-late 30s. We pump everything into either VTI or VTSAX. You don't need an advisor for that. Don't go chasing individual stocks and homerun returns.


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