Tom Raveret

Comments:

• I'm in my third year using Wealthtrace which they tout as more of a wealth tracking software than just financial planning or retirement planning. The Roth conversion tools were what got me to try them as that was the primary problem I was trying to solve for. I added New Retirement earlier this summer first to check the Roth results from Wealthtrace, but later to see the difference between the two. The Roth conversion tools in New Retirement were of little value for us because at this time I couldn't choose which accounts you want to convert from and we exclusively want to convert my wifes IRA not mine at this time. I do get comfort from the Monte Carlo analysis. I linked my brokerage to Wealthtrace to take advantage of how they use historical annual return and volatility for each holding (vs what appears to be user input and assumptions on other calculators). I will likely de-link changing my credentials and only link quarterly or semi-annually and then de-link to reduce the risk of theft and exposure as my portfolio doesn't change significantly.

  Post: Retirement Calculators

  Link to comment from September 2, 2024

• I'm relatively new here andthis is my first post . A couple of books that made me rethink the need (or more accurately did I want to take on the cost both in dollars and performance) for paid help are the Bogleheads guide to investing and the Bogleheads guide to the three fund portfolio. The Bogleheads guide to investing makes the point eloquently about the cost of a advisor on a percentage. In the last couple of years I picked up an online financial management tool called Wealthtrace that then made me completely comfortable doing it on my own. It provided me with a detailed analysis of my situation and allowed me to run various scenarios to look and my tax liabilities. You can get more help when needed, on an hourly basis. I paid to have my plan looked over by someone at Wealthtrace on an hourly basis ( who is a CFP) and we did it in 45 min, best money I ever spent because it gave me peace of mind. The retirement section of Humbledollar is a tremendous read as well and provides a tremendous education ( I'm suggesting my son start there). On the other hand I can't talk my sister out of her Edward Jones representative managing a large 401K rollover into a bunch of managed funds with high expenses because she doesn't want to. It's costing her a large amount of money .. but shes happy and can afford it I suppose. Some people choose to do it themselves some don't. It doesn't take a lot of skill but it does take the will. I will say it can add to peace of mind to be able to have someone available to take a quick look at it from time to time just for validation ( but only on an hourly basis)

  Post: I Ain’t Stupid Ya Know

  Link to comment from August 27, 2024