TorchtheFlyingTiger

You may be able to get them a transfer bonus up to $1k. https://www.schwab.com/referral (Just the Schwab referral info page not a personal referral link)

Or, better yet try to negotiate a better incentive if they have a large account balance. I'd use current Robinhood or other broker incentive offers as a negotiating point (recently 2% transfer bonus)

An ACATS transfer of shares to another broker is super simple. If there is a Schwab office nearby, consider using them instead of Vanguard so parents are more comfortable with in person customer service if needed. You could have them go in and they'll help them with the transfer paperwork.

The big issue is gonna be getting out of the numerous mutual funds if they're held in a taxable brokerage. Selling and reallocating will trigger capital gains. If it's all on retirement accounts reallocation can be done without tax consequences.

Have the new brokerage initiate the transfer not EJ so they don't have to deal with the grad sell from their advisor to stay w EJ. Unless you want to go with them and berate him for the ridiculous portfolio and exploiting your folks.

Eta: transferring the annuity is a whole different matter and may be a pain in the arse from what I'm reading.

OP is talking investments held in a ROTH so tax implications mentioned in several responses are largely irrelevant. That said, I'd prefer long term growth over dividends even without the tax drag issues.

In future, sign up with a one time use virtual card # The services will contact you for a new card # come renewal time and you can decide to renew

Pause YOUTUBETV subscription after college baseball season, resume for football. We watch less tv in summer and gets kids out of house more. Good time to add a trial subscription to services we don't normally use.
World Cup might make this unworkable this year.

If you are planning to use Rule of 55, check that employer 401k allows it. Also, consider rolling your IRAs into the employer plan first if they do and you may want access before 59.5.
Even if you don't intend to tap the $250k in 401k and IRAs early in retirement it may be optimal to manage taxes and subsidies. For instance, draw enough from traditional 401k annually to meet ACA income threshold and take full advantage of standard deduction then top off from brokerage up to the zero LTCG/qualified dividend limit.

No shame, most senior citizens pay zero fed income tax. (Old data but tax policy has only gotten more favorable for seniors) And they are the largest percentage of beneficiaries of tax policy eliminating their tax bill. Just don't complain that you are currently footing the bill. Center for Retirement Research: why-most-elderly-pay-no-federal-tax

You are proposing a 6.66% withdrawal rate. That's 50% greater the 4-4.6% often used as a safe withdrawal rate rule of thumb. The historic average SWR has been 7.1% but if your timing puts you in a below average outcome, you go broke. Your lean lifestyle probably leaves little room for flexible withdrawal in a down market. Also, we have had decades of above average returns so it's feasible that there could be a reversion to mean early in your retirement which would blow up your nest egg at a 6+% withdrawal rate. That said, depending on how much and when you draw SS it could work out.
I think early retirement is great but your situation would be too high risk for my tastes. I'd suggest a transition plan that gives you optionality to pitch back into workforce fully time if needed in first 3-5 yrs. That's what I''ve done and it dramatically reduced financial anxiety and after nearly 4 yrs I no longer need the fall back plan could stop part time work whenever I choose.

quote:

---

But given the combo of our current $30 million Estate Tax exemption, and step-up in basis, the wealth transfer would have to be pushing $40M to even warrant the calculation, wouldn't it?

---

Stepped up basis doesn't help heirs with tax deferred retirement assets. Those still get taxed as income (entire balance not just growth) and dont get stepped up basis. Those accounts have to be distributed and taxed entirely within 10 yrs for most heirs ( unless "eligible designated beneficiaries" (spouses, minors, disabled/ill, or <10 years younger) That could be a huge tax burden for a working adult in their peak earning years already in a higher bracket.
I dont want to leave a multi million $ traditional IRA balance to my kids just to see it potentially taxed at 32%+ when I could have converted at 22-24%.

I have no idea about WNBA teams. But at least she may save $ on taxes. Washington has no income tax while California is high. wash recently passed a millionaire tax but doesnt go into effect until 2028.