Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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I mean how would I vet an expert? I don't know what I don't know. They were both recommendations from friends and that didn't pan out. So on the forum issue, I'm looking for majority. I understand the risk is still mine, simply looking for opinions.
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#17
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#18
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So..... if my money is w Lincoln Financial, in an Aggressive Retirement portfolio (46.77% bonds, 27.47% stocks and 25.76% cash/stable value) is it imperative that I understand asset allocation? Or can I trust Lincoln? This is truly a case of I don't know what I don't know. Honestly, I don't want to understand it, I want to be able to trust the experts. But as with all things, in the end.....
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#19
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So I'm 61 and retired w >3 years of monthly payments for health care coverage until Medicare kicks in at 65. Pension? Ha! Haha! I worked in health care for nearly 40 years, there is no pension to speak of. I def picked the wrong line of work. Me and the bank own two homes, my car is paid off and there is no other debt. I feel very fortunate though, so many are in much worse straights. IDK. Does that shed any light?
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#20
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Do you have a close friend or relative you can trust to help you? |
#21
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I don't know that anyone has my best interests in mind! That's my #1 concern. The 2 experts I consulted were recommended by friends, they gave conflicting advice (see previous posts).
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#22
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The book I suggested, or any number of other basic books, will help you start to understand what an advisor is suggesting. Investing a little time will be worthwhile.
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#23
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Your 403B is in lieu of a pension. Since you're over 59-1/2 you can touch it without significant penalty if you really want to. But if you don't need to, you probably should just sit on it for awhile. See if you can hold out til you're eligible for Medicare, and then if you need it to cover the cost of part D or whatever they end up having in a few years, and to supplement your social security income, it'll be there for you.
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#24
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To be upfront, I know absolutely nothing about Lincoln Financial. If your asset allocation is truly 27/73 (stocks/fixed income) and they are calling that their "aggressive portfolio", I would look elsewhere.
Having said that, 27/73 would be considered very conservative but may be appropriate if it lets you sleep at night. However, most advisors say you need at least 40-50% equities (stocks) to keep up with inflation. I would suggest you visit bogleheads.org . John Bogle was the founder of Vanguard. Spend some time on the forum. Introduce yourself and ask questions. Explore the Wiki. There is also a recommended reading list. Hope that helps. |
#25
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Not Aggresive
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#26
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The suggestion to visit Bogleheads.org is a very good one, as is the one to read the Richard Ferri book. As I recall he was a pupil of John Bogle. Richard Ferri also runs a financial adviser firm. The Bogleheads forum which deals with new investor topics a lot. Not only do they discuss investment strategies there is discussion on personal finance, as well.
If you do a search on Investments in this forum, TOTV, you will gain a lot of knowledge right here, as well.. |
#27
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Yes. |
#28
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#29
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#30
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I think I'm OK w a conservative portfolio and I tried to hook up w a financial advisor but rec'd conflicting advice. Now what?
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Closed Thread |
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