Financial Advisors?

I have not many investments, don’t play the stock market game because I do not need that stress in my life. I have a Roth IRA and my work 401k but I have a question I may need to ask a financial advisor or maybe someone here might know the route to take.

Roth IRA is with vanguard and is a target date account. Set that up years ago and it’s doing well. Maxed out every year.


The work 401k has been fun. In the last 6 years I’ve gone through two corporate mergers so providers changed a lot for the 401k but I think the dust has settled for good. Things changed and the 401k is now in the same vanguard target date retirement fund as my Roth IRA. I feel like that’s not a good place for it. I need to move that money elsewhere so I don’t have all my eggs in one basket. Is that correct thinking? Move the 401k money to something else? But what and who can I talk to that knows what’s best for me because I’m not on the up and up on retirement investing. I’ll learn some but I have so much already going on.


Thanks?

 

How close to retirement?

If 5 or more years just pick the widest market index type fund available. VTI if you have a brokerage type option or a regular wide mutual fund from whomever your provider is.

You can and should talk to a fiduciary who has your interest first.

 

Your bank should have a financial advisor. Normally its a free service. I been in banking for 15+ years

 

I wouldn't rely on Financial advisors to get you to the promised land of a well funded retirement, you need to educate yourself into the world of financial investment, don't take the lazy rout and think someone that you may think knows more handle your monetary future the advisors are more interesting in their own financial future by turning commissions off others who aren't educated in handling their own money, the plus side of it you bled blood sweat and tears earning that money and know the value of getting it and to be your own best advocate where to invest it, theres no free ride if it looks too good to be true it is,

 

I'm 30 so I have a while and we are almost done paying off our house which we plan on renting out and upgrading to a 3 car garage, and house.... I will look into this fiduciary thing, that may be what I am missing. These things they do not teach in school but I do know the mitochondria is the powerhouse of the cell!

Makes sense. I understand

 

I actually agree with the education part.

Just remember with a fiduciary you should never be pressured or feel obligated to do as they say. They should provide you with a perspective so really it can be part of education.

 

Cash it all out, put half in cryptocurrency and use the other half to bet on red.

 

in my case I trusted some of these financial advisors early in my life because I thought they are more educated and know more than me and lost a few thousand dollars of hard earned money very fast, at that point I started to pay more attention to investing and learning and being conservative with my investments. best advice is don't rely on the so called experts, start paying attention to whats happening in the market and in the government these are the 2 factors that will influence how much you'll earn or lose.

 

thanks everyone. I now know what I must do. I'll talk with a fiduciary and learn what I can and do some reading. I'm going to leave the Roth IRA alone right now but work on the 401k