Is anybody using these services? Anything to consider, any negative points?
If you’re referring to their financial advisory services, the pricing I do not think you will find anything lower with access to the same person, but you also tend to get what you pay for.
I used them for years during my accumulation phase and was generally satisfied. However, about five years before retirement, I decided to move on because I needed more comprehensive retirement planning rather than just portfolio management. I’m still working today, but I wanted guidance on areas such as income planning, tax strategies, and retirement readiness that went beyond investment management.
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The following are general comments not having specific information about your financial situation. Vanguard Personal Advisor services is an excellent choice for a financial advisor to handle your portfolio. Vanguard’s assets under management fees are low compared to the most brokerages that charge in the range of 1% fee for assets up to 1 million.
Fidelity and Schwab are other lower cost options. Schwab uses a different fee structure. Vanguard cons compared to Fidelity includes no local branches, worse phone call services and a website that is not as easy to navigate. Vanguard advantages include lower fees, and the ease of selecting an diversified index portfolio.
First, I have no comment on fund management here there or anywhere.
I do have strong feelings about Vanguard though! They are the one institution I hate more than Fidelity. Long ago, using advice I conveyed from Clark, my son did open and have a Vanguard account until he croaked. Being the court-appointed Independent Administrator (executor), you would think things would be routine and easy.
It was like pulling teeth to get the money! They wanted a “medallion” signature guarantee. Court order not good enough. I managed to roll most of it into a like-titled account at another institution, but with only dregs left (way under $100) it was still like pulling teeth. So use 'em only if you hate your heirs!
Vanguard manages funds for me at 0.38%. They have been growing quite rapidly for me, thanks to paying myself first, which Clack has been drumming it in. Is there a template for retiring? What is my next step? 60 is approaching quite fast. Please help. There are so many wise retirees here; please share you knowladge.
To get better responses, what is your current situation and what questions do you have?
Just getting ready to retire at 60 years old. (Maybe work a bit part-time for medical insurance) Don’t need SSC. Till 62 -65. What’s the next step? I can not ask questions that I don’t know. Start as an independent financial adviser? get knowladge om medicare; is there a class I can enroll in ETC.
I read books about retirement. Include a book that covers the financial issues Social Security, Medicare, Roth conversion, covering expenses in retirements etc. I am older and read the book by Jane Bryant Quinn How to Make Your Money Last. There are likely more recent books that others may recommend. Also read a book about maximizing your experiences. I read the book Die with Zero by Bill Perkins.
Getting a financial advisor is a good idea. Consider first learning enough through books or other sources to be better prepared to find an advisor who will work in your interest: no expensive insurance products, low-cost index funds etc. Some advisors operate on an hourly only basis for individuals who are comfortable in self managing the recommendations.
Two other specific free sites: the “opensocialsecurity” calculator and the State Health Insurance Assistance Program for your state at “shiphelp”.