IRA self management - 2CoolFishing
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Old 09-17-2020, 02:59 PM   #1
stumpgrinder3
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IRA self management

I have made the decision that I cannot afford to pay the 1.25% yearly fee I currently have to get my nest egg actively managed.

I am going to start a 3 or four fund "lazy" portfolio that I will rebalance myself 0nce a year. I also need to set up an income stream from my pile.

Has anyone done this or know someone that can help guide me through that process ? Right now, I know what I want the final product to fundamentally look like I just dont know how to make that happen
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Old 09-23-2020, 03:10 AM   #2
cman
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I do not have any specific advice, just words of encouragement.

First- what do you want your "product" to look like?

I manage my own portfolio and recently took over a relative's with a few mm in it. I let Fidelity keep half of that portfolio and we'll see who does better after a year.

I bet you will not have much difficulty improving the performance of your portfolio.
The one I took over has underperformed the market every year since forever. I had 3 meetings trying to understand fidelity's reasoning for staying in investment products that underperform year after year, forever. I came out of those 3 meetings still not understanding.
The only number I want to see is performance over 3, 5, 10, 20 years. Don't keep my money in something that loses money year after year for 10 years for the sake of diversity.
If you improved investor's balances by playing defense, show me in which downturn you performed.

As far as lazy man goes- you should be able to see what your advisors have had you in the last few years. Or, you can see what they have you in now and research those historic performances.
I can tell you how to invest in a 70/30 stock to bond mix that underperforms the market by 50%.

With all the access to information and to analyst forecasts online these days, I suggest you look at individual stocks within each mutual fund. Stick with historic performers with unanimously positive projected forecasts and avoid the losers with poor history and projections.
I have been managing my portfolio for 6 years now and have beaten the market every year without exception, by 200% to 300% of S&P 500 returns. That's enough of a track record for me. It will take a long long long market correction for a defensive investment strategy to beat where I have gotten.
We'll see what Fidelity can do vs. me in the next 12 months.

Anyways man. You can do it.
Check cnnmoney, zacks, and yahoo finance for analyst ratings on individual stocks. When they all align, you may want to invest some in that company.
Good luck.
If you want to test without committing, shift half of your portfolio to a self managed account.
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Old 09-23-2020, 01:40 PM   #3
Muddskipper
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I run an all etf model ....with each strategy costing 6 bps ....

Can’t get much cheaper .... perfect for the set it and leave it guy
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