Careful -- All this buying and selling is likely adding to your tax liability. Before I got my Dad to drop his advisor, Dad got to pay an extra $8K in taxes one year due to all the buying and selling in his managed taxable account. That extra tax bill finally got his attention and we shorty afterwards dropped the advisor.I've been starting to do this outside of them. I have an e-mail drafted to find out why "growth" under-performed the market. I wanted to be nice and send tomorrow. They were raising cash again briefly about a month ago but bought back in since.Many Bogleheads use a simple 3-fund portfolio (or something equally simple) and keep all those AUM fees for themselves.
I had a conversation with someone for workplace retirement stuff a couple years ago and told her that when the markets tanked in March 2020, I wanted to deploy spare cash because the market was "on sale" versus some of her clients that wanted to panic sell. Sadly I didn't do that, but she was impressed with my thought process.
Statistics: Posted by RetiredAL — Tue Sep 03, 2024 10:02 pm