These are not at all bad expense ratios, particularly from an Advisor. iShares offers an excellent suite of ETFs and these seem to be good ones. Yes, you can get similar, cheaper products at Vanguard. What was really draining you was the Assets Under Management fee, that is your biggest savings from firing your Advisor. But from what I can see, the Advisor didn't choose at all poorly for you.It could have been worse- at least I was I could afford to retire, having been a big cheapskate all of my life. Plus I still have my legs and I really like hiking and biking!
Here is the ETFS I have on the potential chopping block:
EFG up 21% 12K or so ER .36
EFV up 20% 11K ER .34
IBDT up 3% 2k ER .1 (I know that's low but it's a bond fund)
IBDU up 3% 2K ER .1
IBHI up 3% 2K ER .35
IWP up 290% up 140K ER .23
IYW up 68% 40K ER .39
My current allocation is like 62/38 which is probably more aggressive than I need but so far I've been focusing on deploying all the cash I was hoarding into fixed income vehicles (CDs and BND). I was raised with extreme financial insecurity, so I'm still learning to manage my own psychological fears around money!
I apologize in advance if I'm being ridiculous in some way. I'm just new to this, and I feel like I could've been a better money manager and I feel like I need to make up for the mistake of hiring someone to do all of this!
You mentioned that you have fears around money, I suspect this is why you hired the Advisor in the first place. The question is once you have settled on a new portfolio, can you stick with it? So perhaps what you need to do is reduce your allocation to stocks. You did say your allocation is probably more aggressive than you need. Why don't you let the Bogleheads look at what you have, list your portfolio holdings in the recommended format, and you will get some good ideas.
Statistics: Posted by nedsaid — Mon Sep 30, 2024 9:55 pm