I'm late 40's and mostly retired and within the past few years transitioned to target date funds to the extent that it was feasible (all tax advantaged accounts). While this isn't the be-all and end-all of planning for cognitive decline, I think it will go a long way not only for myself but my spouse down the road and to be honest, I really enjoy the simplicity and wish I did it decades ago.+1. Any chance I get to consolidate and/or reduce the number of accounts I do. I've got about 8 different accounts right now between IRAs, HSAs, 457s, brokerage, and bank accounts. I think I might be able to get that down to 6 in the near future, and hoping I can whittle that down to about 4 by retirement age.We simplified our portfolio and reduced the number of accounts we have opened. We keep our financial documents up-to-date. We trained our sons to manage their own brokerage account. We are in the process of educating our sons on our finances.
I agree with retired that Retired@50 that a balanced index fund is s good solution for many people.
I'm still 20-30 years from retirement age, but I plan to simplify to target date funds in the investment accounts when I get closer to retirement age as a means to make it easier for those who might have to take over handling the accounts. I envision a point where the IRAs and HSAs are invested in one conservative target date fund each, and the brokerage and bank accounts simply hold the cash for daily expenses.
Statistics: Posted by keystone — Mon Apr 15, 2024 8:02 am