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Hello All,
I recently went through a free portfolio analysis with Chase private banking and was told our investments are all over the place with no clear goals. Which is not really incorrect. We have made investment decisions rather haphazerdly over the years. Here is where we are ---
Retirement Accounts (His + Her):
401K: $170K
Rollover IRAs: $165K
TOTAL: $335K
All with Fidelity spread 70-30 in Stocks-Bonds.
Non-Retirement Accounts (Joint):
$300K
Spread rather randomly between Betterment, Wealthfront, Wisebanyan (yes, all three); Scottrade and Motif. Betterment/Wealthfront/WiseBanyan are in 70-30 stock portfolios. Scottrade/Motif are in random stocks bought over the years.
529 for 4 years old daughter:
$9K in pre-paid PrivateCollege 529. Plan to coninue to put 2K-3K per year.
Cash/Savings:
20K BoA earning nothing
30K Chase earning nothing
40K Capital360 earning 0.75% a year
P2P:
$15K in Lendingclub earning ~ 7% after charge-offs
Real Estate:
Primary Residence: $1.1M with $665K in Mortgage at 3.5%
Rental (was our primary residence for 4 years and has been rental for last 3): $700K with $245K in mortgage at 2.6%
Both REs are in heart of Silicon Valley and we have no plans of selling either.
We don't have any short term needs. 3 Cars all paid off and relatively new (all less than 4 years old)
I absolutely need to consolidate all my various accounts (including the ones from Scottrade and Motif) into one and have been considering the following ---
Schwab Intelligent Portfolio (0% advisory fee +Fund Fee)
Vanguard Personal Advisor (0.30% advisory fee + Fund Fee)
Merrill Edge (30 free trades a month +Fund Fee)
Betterment or Wealthfront
I am leaning towards Merrill Edge. Using their 30 free trades, I can essentially buy the same ETFs as in Betterment's (or Wealthfront's) portfolio in the same proportion and then continue to invest in them on a monthly basis using the free trades.
I am looking for advise on which of these options will be a better choice for me for both retirement and non-retirement accounts. So far we have been doing this without any real plan or purpose.
On a monthly basis I also have been paying off the mortgage on our rental property at an accelerated rate (paying an additional approximately $1,000-1500 a month towards principal).
- Is this a good idea?
- Should we rather payoff mortgage of primary residence and reduce the outstanding principal?
- Should we rather put that money in a non-deductible IRA? We both maximize our 401ks now.
ALL suggestions, advise, opinions and criticisms will be highly appreciated.
Thanks,
B
I recently went through a free portfolio analysis with Chase private banking and was told our investments are all over the place with no clear goals. Which is not really incorrect. We have made investment decisions rather haphazerdly over the years. Here is where we are ---
Retirement Accounts (His + Her):
401K: $170K
Rollover IRAs: $165K
TOTAL: $335K
All with Fidelity spread 70-30 in Stocks-Bonds.
Non-Retirement Accounts (Joint):
$300K
Spread rather randomly between Betterment, Wealthfront, Wisebanyan (yes, all three); Scottrade and Motif. Betterment/Wealthfront/WiseBanyan are in 70-30 stock portfolios. Scottrade/Motif are in random stocks bought over the years.
529 for 4 years old daughter:
$9K in pre-paid PrivateCollege 529. Plan to coninue to put 2K-3K per year.
Cash/Savings:
20K BoA earning nothing
30K Chase earning nothing
40K Capital360 earning 0.75% a year
P2P:
$15K in Lendingclub earning ~ 7% after charge-offs
Real Estate:
Primary Residence: $1.1M with $665K in Mortgage at 3.5%
Rental (was our primary residence for 4 years and has been rental for last 3): $700K with $245K in mortgage at 2.6%
Both REs are in heart of Silicon Valley and we have no plans of selling either.
We don't have any short term needs. 3 Cars all paid off and relatively new (all less than 4 years old)
I absolutely need to consolidate all my various accounts (including the ones from Scottrade and Motif) into one and have been considering the following ---
Schwab Intelligent Portfolio (0% advisory fee +Fund Fee)
Vanguard Personal Advisor (0.30% advisory fee + Fund Fee)
Merrill Edge (30 free trades a month +Fund Fee)
Betterment or Wealthfront
I am leaning towards Merrill Edge. Using their 30 free trades, I can essentially buy the same ETFs as in Betterment's (or Wealthfront's) portfolio in the same proportion and then continue to invest in them on a monthly basis using the free trades.
I am looking for advise on which of these options will be a better choice for me for both retirement and non-retirement accounts. So far we have been doing this without any real plan or purpose.
On a monthly basis I also have been paying off the mortgage on our rental property at an accelerated rate (paying an additional approximately $1,000-1500 a month towards principal).
- Is this a good idea?
- Should we rather payoff mortgage of primary residence and reduce the outstanding principal?
- Should we rather put that money in a non-deductible IRA? We both maximize our 401ks now.
ALL suggestions, advise, opinions and criticisms will be highly appreciated.
Thanks,
B
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