Originally Posted by
Lenticularis
Now that I have some money to invest I am wondering what advice experienced guys/gals do? I currently max 401k that is under the PRAP and diversified it to 50 conservative and 50% large cap, small cap mix. I am considering a financial planner outside of Schwab and have the insight of 2 meetings so far but I'm not sold. I have saved a bunch that's just sitting in a high yield savings. I have no substantial IRA. Very low debt and a easy cost of living, wife and I don't buy or want lots of unnecessary things. So what do you do with all the money? Hire someone to manage? Does Schwab manage portfolios like a financial planner? If so are people happy with the results? More background info I have no interest in closely surveying and management of my portfolio but I feel I've done well to this point with a hands off approach. I also have about 20 years left to work. I'm also curious if people have and use tax advisors? I've always done TurboTax as my taxes are simple but feel Ike I'm missing out on ways to better keep the money out of Govmnts pocket.
It sort of depends upon if you are an optimist or a pessimist.
If you are an optimist put as much as possible in an IRA, Roth IRA, or 401k invested in a broadly diversified stock portfolio and just leave it there until you are old enough you have to make required minimum distributions. Delay actually taking money out as long as possible unless your investments have grown to the point you are pressing the limit for federal estate tax.
If you are a pessimist, invest primarily in guns, ammo, and freeze dried food. If a severe pessimist, just guns and ammo. With sufficient guns and ammo you can always rob some optimist of
their freeze dried food.