Who do we talk to?

Due to selling a house, inheritance, and consistent gains in our portfolio, we have an appreciable amount of money. We are both retired. I’m not looking to buy or sell anything in my portfolio but need some advice re what to do next. Most of our money is with Fidelity and I don’t know if I should make an app’t with them to talk or go somewhere else.

As a retiree, your main concern is probably keeping up with inflation. That probably requires investment in equities, but at the same time enough bond or dividend stocks to cover your expenses.

Basics are how is your portfolio doing? Is your retirement funded by secure sources like pension, Social Security, etc. Are your sources inflation protected.

Will? Estate plan? Estate Taxes? Long term care covered?

Goals for inheritance? Charitable giving? Taxes and tax avoidance.

Maybe your portfolio is doing well enough as it is. But if you want advice, financial planners are out there. Why not interview a few and see what they suggest. Some will want to sell you annuities. Others may have good ideas.

If you have specific questions, post them. We’d be delighted to share our thinking.

Hi, Northern7. First, I am sorry for your loss that led to your inheritance.

One option is to check out the Rule Your Retirement premium service. It’s a reasonably low cost service that doesn’t pump out equity recommendations like stock advisor (though it does have model ETFs you can follow) but does serve Fools nearing or living in retirement with all kinds of financial advice, and you might find some relevant responses to your questions.

You may also want to talk with a financial advisor. Make sure they are a fee-only (or even better, free consultation to decide whether you are comfortable with them) and a fiduciary, meaning they put your interests first above their own. It sounds like you are not looking for a wealth manager, who would take control of your investments on your behalf, but just looking to put together a plan that you can execute yourself.

The Motley Fool Ascent, a public personal finance sister website, has an article that may be of use:


All the brokers offer financial advise to their larger asset customers, and generally they tend to be decent but the most important thing is whether you feel comfortable with the particular person to which you are assigned. It can’t hurt to talk to Fidelity, and you should certainly interview around. Auditioning financial advisors should not cost you a penny.

You want someone who will advise you according to your needs and values, who will help you design a financial plan that works for you, but will also help you make sure you consider factors you may not have thought of. If you feel a high pressure sales job coming on, or that you are being steered into a standard package, that’s a warning sign.

Who is nearing retirement himself, within 10-15 years, and is probably going to be seeking out some advice himself, both through RYR, broker consultations and referrals from friends and family to put his own ducks in a row to make sure that when he’s ready, he’s prepared for both his short-term and long-term needs…

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Food for thought. Now, is there ever a time one should get out of the “market” and put all the proceeds into an interest bearing account? And just let things ride? Tough question, I know. Thanks.

Food for thought. Now, is there ever a time one should get out of the “market” and put all the proceeds into an interest bearing account? And just let things ride? Tough question, I know. Thanks.

Perhaps it is time to do that, iff you can find a safe interest bearing account that pays, after taxes, more than your true inflation rate (not the one quoted by the government to keep Social Security and Medicare payents low).

I find John WIlliams’ charts helpful, but many here do not like him. He thinks inflation now is about 17%.



Let’s peruse the following at your leisure.

https://www.youtube.com/watch?v=0EepvlfqXPg&t=10s he has his money in Fido’s accounts. Note the amount.

Do what he does and BUY all 25 stocks, lay back, and collect the dividends.

or place the same into M1Finance dot com and be on autopilot if you wish.

https://www.youtube.com/c/GenExDividendInvestor/videos peruse at your leisure and or subscribe by slamming the red subscribe tab.

or if you play Roulette/ Baccarat ONLINE earn about $ 500.00 a day or $ 100.00 every 17 minutes with some risk and money management skills. Min bankroll is $ 915.00. Or every 50 wins at $ 10.00 bets. or $ 180,000.00 a year. Or if you are married have a working partner and double the amount.

or compound a 2 % percent table (create a spreadsheet table) The Fido crew will not teach you HOW for they are only looking for Commish’s. Avoid Annuities and stick with the EX Gen above. Avoid Mutual Funds and stick with ETFs.

eg. Day one start off with $ 1,000.00 and earn 2% then take the $1,020.00 and earn 2% and continue the process all the way to Day 365.

Frozen on Day 199 with 3 stocks, earning approximately $ 1,008.94 x 3. (average holding time is 1 - 3 days) The fourth is continuing on down to Day 365. When you get there, smile:o))

Where to find the stocks: Barchart dot com and find the “Five Day Gainers.” shopping list along the left-hand side, halfway down. Find the stock and piggyback the ride.

Something to ponder and stay Healthy, Wealthy and Wise.

Quillnpenn - a poor church mouse scratching for a living as a Swing Trader for over 45 years.
------------ Vision - Multi-Millionaire…Goal - earn 1.3% - 2.5% compounded Daily

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Not necessarily. There are now CDs paying 5% and sometimes more.

One path I would suggest is “don’t do anything all at once.” You might build a CD ladder of 1 year, 2 year, 3 year, 4 year, and 5 year CDs all paying a decent rate. Then each year you will have a reasonable payout and perhaps have decided what to do with it, even if that is “not to invest” but to use it for some other purpose like remodeling the kitchen or buying a new car. If you still haven’t decided on anything, it’s easy to roll it over and start a new 5 year CD which will pay out at the end of the now shortened ladder, with another one turning to cash in one year.

No, that will probably not get you ahead of inflation, but a 5% rate will likely keep you even, plus or minus, while you decide on various strategies going forward.

I note the OP says he already has “a portfolio”, so clearly not a rank beginner, on the other hand, asking for advice, so looking for suggestions. This is mine.

You could reach for yield and hope for 7% or better in the market, then again you could also go negative 10% if you choose wrong or if the market swoons or whatever. Depending on your investment timeline, an FDIC CD might make sense.

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Note that now is about 18 months since the thread started and that post was made.

When a really old thread gets a new post we get positioned at the beginning, rather than at the new activity. I’ve missed that and fallen into the trap of responding more they a few times.

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