My father just died horribly of dementia and left me over 400k.Convince me not to give it to a wealth management team at Merrill Lynch where I will get about 10-11% a year at a fee rate of 1% total portfolio value annually. Reliably doubling my money every 7-10 years.I am a lawyer with good earning potential and I don't need the money now. I view this as a guaranteed early retirement if I play it safe. I am also relatively unsophisticated and don't know that I have what it takes to manage this myself. Although I not a complete retard.What would you do?
>>61190865200k on memecoins 200k on drugs and whores
>>61190865I would not do it. Nobody can reliably beat the market.If they're guaranteeing a 10% return they're full of shit. On average, normal market returns can double a portfolio every 7 to 10 years.The important thing is that 1% management fee. That's a holiday every year for them for doing essentially nothing and will eat you away over time.NFA but I'd personally just put it into a very low fee global ETF.
>>61190865Open a Vanguard account. Dump it all into a target date fund. Log in again in 20 years.
>>61190865Chainlink (Link)
100k in berkshire hathaway300k in btc
He picked a really shitty time to die. Maybe wait until Oct 6, 2026 to buy some $26,000 BTC.
>>61190865Why do you need to pay a wealth management company to invest in the S&P for you? Are you retarded?>>61190945This
>>61190865Just give it to me instead
>>61190896That's basically what they are showing me in a prospectus. I probably misrepresent 10% im not sure where I got that from
>>61190865Put it all on BYNDThese discounted prices won’t last forever.
>>61190953Been holding since 2017 brother. >>61190945>>61190896>>61190999That's kinda what I discussed with him. I can do dump it in an etf myself and he did not disagree. He described the value of his service not in terms of gains, but having someone who keeps you know track in terms of your goals. Also keeps you from making an emotional decision.Can you recommend some etfs? It's just so hard for me to commit the most money I've had on my own. Having it out of my hands almost feels worth it. There is value there for me. 4k a year is a de minimus amount to pay for that for me.
>>61191184On trackSorry mobile nigger
The people telling you to manage your own account are career gamblers who have never managed to keep an account open without blowing it up anon. Enough said.Let a wealth manager handle your taxes, rotate your money, maybe throw you into a sweet deal internal hedge fund once in a while, and then just go and focus on making more money being the best lawyer you can without chewing on your fingernails looking at red candles.
>>61191196imagine being such an NPC you gotta pay someguy 4k a year to buy index funds
>>61191196Yea that's basically how I feel about it. I don't need the distraction. There is value having it be out of my hands.
>>61191211I get it, 4k is life changing to you. I bill that before noon most days.
>>61191196this post was written by a fund manager>>61191230i'm a retard and even I can buy VWRP and chill
>>61190865Cut yourself 100k for fun expenses,put the rest in bitcoin You should never consider a place like that when youre on /biz/ where its common knowledge crypto in general mogs any grandpa ass slow investor shit.>>611912384k is life changing for most people. Dont belittle how much money actually means. Theres using money and then theres just giving donations.
>>61191238it may not be life changing but would you rather spend well over 80K over 20 years or have the money?fund managers know that most people don't understand how a "mere" 1% adds up to a lot over time.
>>61190865>Convince me not to give it to a wealth management team at Merrill LynchEasy: those "wealth management" groups are total scams. They'll churn your principal through a dozen trades a day, deducting fees every time, until you're wiped out.That's not a hypothetical, I've seen it happen. I used to live in Seattle when Microsoft was THE big thing there, and there were plenty of techies who got their five years in, retired, transferred their stock to a "wealth management advisor", and promptly got wiped out by those assholes doing exactly what I described.Sympathies on your dad, BTW. I'm dealing with the same with my mother except that she shows no sign of dying before she kills me off from the stress.
>>61190865>left me over 400k.IRS here, pay me!
If I were a lawyer I'd probably want to hang myself, so with the money I'd start my own business in an area I'm passionate about. Something that you can feel good about but also make a reasonable living and profit from. Oh who are we kidding, I'd spend 100k on a nice new sports car, use the rest on a down payment on a house with a few acres in a quiet town. Personally, I think you should dump it into Vanguard ETFs and ignore it till you're retired. Take out a little to play with if you really make good money. I 100% believe you too, just saying.
>>61191211>>61191250>>61191266If you don’t happen to know OP, “DIY retirement” is pushed by fintech firms so that they can harvest your investment data and front run you since many of these apps are not scrutinized the same way by the SEC.
>>61191276Inheritence stays away from their kike hands.
>>61191266That's not how they make money. It isn't 1980s. They are aren't driven by making trades. I explained the cost.
>>611912381.07^20=3.871.08^20=4.66Understand now, retard?
>>61191298Sketchy.. you got sauce on that?
>>61191340Just let him get scammed by merrill lynch bro. He doesn't understand even basic finance and would be better off
>>61191298>If you don’t happen to know OP, “DIY retirement” is pushed by fintech firms so that they can harvest your investment dataWhat exactly are they going to do with the all important knowledge that the 200 millionth faggot bought one of 20 ETFs?"Bespoke investment" is pushed by banks so they can rip you off for thousands while doing no better than you just buying the S&P.>and front run youlol.
>>61191358Apparently you can't understand that there might be still valuable there for someone who has other shit to do. I know I'm paying for something, that's thr point you fucking autists.
>>61191346https://www.inc.com/jason-aten/robinhood-is-facebook-of-investing-youre-data-not-customer.html
>>61190982This is why you're friendless.
>>61191388If you were making this argument for hiring a plumber or something I could get it.It's really as easy as installing an app, doing KYC, sending money over and hitting Buy. There, you just saved $300,000.
>>61191360They literally do front run you though. All that data can be used to trade the underlying stocks as well. They also have “robo advisor” products that don’t need to conform to the same standards. You’re better off going with an actual wealth management firm over some techbros data grifting platform that is trying to squeeze money out of you.
>>61191410>Oops some Chinese man hacked your account and all your moneys gone>oops our proprietary exchange charged you an absurd market buy fee>oops you can’t trade right now>Mmmmmm nope don’t get to cash out>Mmmmmm no I don’t think I’ll give you a 1099 this yearK.
>>61191230There's some very strong retardation in the statement that the money being OUT OF YOUR HANDS is a relief. I don't mean to be anything other than apparent here. Buy enough silver to build a chair, buy some gold. If I had the specifically, Id probably go 200-300k into gold and silver. 50k-100k for comfy backstop, 100k into Crypto, probably BTC or XRP in a few months. You could yolo 1k into BYND for the memes in all of that too.
>>61191388I would think taking a week or more to do some research and invest in stable things like gold, silver, maybe some land on the cheap you can just have and flip much later.
CHAT GPT SAYS TO NOT BUY BYNDOH FUCK IT'S GONNA MOON
>>61191439Yea let me just go all in on gold at all time high, sounds good. Dad would be happy.
>>61191493It's going to keep going imo. You sound like a total tool by the way. Fuck you, and your Dad. Nigger.
>>61191438>Vanguard AUM: $10T>Merill Lynch AUM: $2.75TIf you're assigning significant weight to either of those institutions running away with all your money in the foreseeable future I think you should put it all into barrels of shotgun shells and cans of baked beans
>>61190865>Convince me not to give it to a wealth management team at Merrill Lynch where I will get about 10-11% a year at a fee rate of 1% total portfolio value annuallyAll they'll do is throw it in a combination of bonds and index funds, Do It Yourself and save 1%/year
>>61191580No I’m assigning weight to OP opening his account to buy VOO through an app and them fucking him over.
>>61191613it doesn't work that way, trades go through once a day and you know what you're payingthe only way vanguard fucks you is the account feecaptcha: SHAMW (ow)?
>>61191668I think we’re talking different things. Robinhood for example, will not help you if your accounts hacked, will sell your data to larger funds, will execute your trades however it wants, and will have abysmal customer service if you have any issues.
>>61190865The only value in a wealth manager is being on the phone to talk you down from the cliff when it drops 40%-60% which it historically will do and has recovered from. If you can't trust yourself then sure pay them 1% to, at best, do nothing and let it sit in an ETF or, at worst, actively trade your money and make less than a total market ETF.Scott Cederburg's research shows 100% stock allocation is appropriate for anyone at any age.Fama-French factors suggest that there is a premium associated with holding small-cap value, although it has been decimated by growth stocks the last decade or two (which may indicate a coming shift to value but that's just guesswork).For the absolute easiest method, everything into VTI and never touch it until you're ready to retire, at which point withdraw 3.33% of the total per year to fund your lifestyle.If you do some research and find that you agree with the Fama-French factor model, Avantis ETFs are a good second. Low enough fees to match the expected risk premium that a small-cap value tilt should provide over the 0.03% fee from VTI.
>>61191685well let's stick to vanguardi've been using it for years, have had great service over the phone when i wanted to make sure of what i was doing, and vanguard sends me reassuring emails when the market shits itselfif i buy a fundu, it's very clear about the buy price before the trade executes the following dayand you can do all this and more on their websitethe average person can easily save money by DIY investing with ETFsjust buy, hold and chill, and remember to diamond hands through the dips saar
>>61191687the only thing i'd add to that is that some people suggested holding up to 5% gold has been historically advantageous over the very long run
>>61191184>Been holding since 2017 brother.Did you stake it? What else do you need? Whatever you invest in will inevitably use chainlink in some capacity 5 years from now. If you already have a good salary, own Link, at that point if you don't work for yourself, I'd use a quarter of that to get started but I don't know what your plans are. I just think diversifying is decent advice, but unnecessary when you are hitting once in a generation opportunities.And my condolences to you and your family, marine.
>buy sp500>its tracks the sp500>give it to fuckfuck at "wealth management">under perform the sp500 with a 97% confidence interval at 10 year mark>also lose 1% a yearif you hate making profits just donate it, you don't need to encourage idiots to sit around doing coke all day. the index funds are so popular is because are mathematically superior. if you want to double your money today just bet on black, and hope its not red.
All right you big brain dyi niggers tell me specifically what to buy and my allocation
>>61191211Bigbrains has entered the chat
I just think it's sad that OP has come into money and the immediate strategy is "how do I use this money to make more money, without providing a tangible benefit"Invest in a business or plant a forest or something useful
>>61190865Just buy a US index or all global? Why would u pay such large amount in fees? Are you retarded, maybe you also have dementia now. You'll thank me later, whilst you hate me now.
>>61191196Ugh sorry sweetie, but I have 7 figs+ in indexs?There is seriously no reason to not buy a Global Index, or go 50/50 on global/S&P 500. The performance will have a 90% chance of beating anything managed with far less risk than you propose.You fucking NPC, we are advising he goes long on GME or BAGGIES OF FAKE MEAT Stock.This board sounding more like Reddit everyday, fuck off poor fag.
>>61191230No, this should give you axiety. Just buy a fucking index & hold it. Holy fucking shit, being passive (index) is LITTERLY the answer to the problems you are saying.Thank you for your attention to this matter.
>>6119191450% Global Index (whatever platform u use, find the one with the lowest fee and avoid Hedging currency if this is for very long term)50% S&P 500 again depending on platform. Pay attention to the yearly fees on each index, you should be able to find something in the 0.05-0.1% easily.You have the option to lump in or DCA. Really this is a mental choice. Generally lump sum performs better but wouldn't blame u on DCAing at ATH's.
>>61191276>what is step-up basist. lawyer who at least remembers that much from his Tax Law class, if nothing else.
>I'm a lawyer who makes 300k a year>my dad was a broke fag who only left me 400k>but I'm also stupid and can;t into investing destpite claiming to have gotten a 170 on the LSAT
>>61191184Larp. No lawyr/doctor/anal bead inspector would buy and hold something as worthless as link for 8 years.
>>61190865I did Fidelity and I'm happy. They only do .7% each year from total account. When the marker recently dropped. I was down about 3k, but then I was right back up to where I was. I'm not a trader and I don't have money to piss away. I just let the professionals handle it. Fidelity is the best imo, their free to talk to too..
>>61190865leave it at the bank with a good APY (not very high one since that's usually a red flag) and enjoy some meager profits over the time. Don't listen to anybody here, you probably know how to invest money, keep doing that instead of jumping in uncharted territories leaving your money to third party frims who only care about themselves
>>61190865If you really want it truly passive and not think about it at all then put it in a high yield savings and leave it alone.
>>61190865>I will get about 10-11% a yearYou won't>fee rate of 1% total portfolio This you will do.>Reliably doubling my money every 7-10 years.you won'tYou could, if you were a person with a triple digit IQ, put your funds in a total market ETF with a 0.03% fee, and make an actual market return of about 8.5% after fees but before inflation, which is better than Merrill Lynch would do before fees and inflation. It's up to you though.
>>61191184>the value of his service not in terms of gainsrefreshingly honest of him>someone who keeps track in terms of your goalsYou know someone else who can keep track in terms of your goals? You.>keeps you from making an emotional decisionWhich simply means he's the one making emotional decisions.
>>61192067Sounds like too much work
>>61192775Nigga 4 percent ain't shit tho
>>61190865I would dump it all into my brokerage account and buy $100k each of QQQ, SPY, AVUV, and RING.
>>61190865Put it in short term T-bills until you know what you want to do with it, OP. Take maybe 20% and open an account at Charles Schwab and average into a nice cozy blue chip mutual fund or large cap ETF.
>>61190896sorry about your fatheralso, even if they do get you 10%, inflation will take 40%better to buy some farmland
>>61192004The sooner I stop practicing law the better. But yes once I have more experience I can use this to start my own practice.>>61192590Never selling
>>61193057Actually my ultimate goal is to buy a rural piece of property or move to a third world shit hole in the pacific where I can fish and dive every day
BTW I bought a boat
>>61190865from what you've said, Merill is prob your best option if you see it as earlier retirement and dont want to take a lot of risk.
>>61190865why do they let women become attorneys. they dont even have enough sense to understand index funds
>>6119191470% on an Avantis Developed Markets ETF20% on an Avantis Emerging Markets ETF10% on an Avantis Small Cap Value ETF.Can't give specific names or tickers because they change depending on where you are. They have those ETFs for US and EU citizens at the very least>>61193031>buying more than 1 "Sounds like too much work"OK nigger then go 100% on anything tracking the MSCI ACWI IMI or similar,like the SPDR MSCI ACWI IMI. Make sure to buy an accumulating version and not a distributing one>still too much workblow it all on snow and whores then>>61192644>give it to jews to profit 5x more what they give youDon't listen to these jews
>>61191184>He described the value of his service not in terms of gains, but having someone who keeps you know track in terms of your goals.Last year I talked to wealth manager advisors that Fidelity referred me to and this is essentially what they told me. In my opinion that's not worth much if you have enough discipline to keep your money invested in an ETF and won't touch it for stupid bullshit. I politely declined their services but they still reach out to me every quarter because they're fiends for that 1% fee.Do yourself a favor and put the $400k in VOO or whatever equivalent at Fidelity, Schwab, or SoFi. If you have enough sense to invest in crypto and post on /biz/, you don't need some finance firm to hold your hand.
>>61190896>Nobody can reliably beat the marketI never understood this. Why? Why even bother learning to trafe if straight S&P500 is the only right move?
>>61191685>will not help you if your accounts hacked, will sell your data to larger funds, will execute your trades however it wants, and will have abysmal customer service if you have any issues.Huh? How can they not help you if youre hacked if its FDIC insured? What program should you be using?
>>61191685>robinhoodwithin so many other brokers you're really going for the slop huh?
>>61190865>giving your money away to assholes, grifters, morons, cheaters, and stealers who are going to report back to you saying "your investment did not raise any gains" for the next 30 yearsdamn bro, sick game plan
>>61190865I have much, but not all, of my money with a similar service. My wife and I work a lot of hours and it's difficult to be responsible for managing investments. My adviser can give me frank answers to questions like "given my income and today's market, how much can I spend on a house?" where nobody else can tell me anything credible. They also have a human in the loop for all transactions so you have some real protection from things like fraud and scams.
>>61193031>Too much workIs selecting ACTIVE over PASSIVE and saying its too much work! Just admit you know nothing and fuck off. There is no helping u.
>>61193330BECAUSE RETARDS LIKE OP EXIST. He is being told to his stupid face the answer & he STILL WANTS TO PAY JEWS KEK
>>61193330S&P isn't the best, you want the broadest world tracker you can get.And like i said up the thread maaaaube a bit of gold.>Why even bother learning to trafe You shouldn't.But lots of retards are greedy and want to get rich quick so they won't listen and most of them will lose their shirts.
>>61190865>Convince me not to give it to a wealth management team at Merrill Lynch where I will get about 10-11% a year at a fee rate of 1% total portfolio value annually>I am a lawyerDo it but make sure the contract allows you to sue them if the advertised profit is not met so that you can get your money's worth regardless of market status
Meerril is a pain to work with
>>61194696I'm a lawyer and this is the most retarded shit I've ever heard...
>>61194964What about jp Morgan
>>61195152Only because they will never allow you to have such a contract. It'd ruin all their profits
>>61192026Ugh sorry sweetie but I manage 10 figure hedge funds. Lmao’ing at you right now, listed companies will raise money and issue us new stock wayyyyy below market price due to the volume we bring. People who think retail are winning with their passive index approach make me laugh.
>>61190865I'm not a maxi, but at this point if you're scared about losing it you may as well put it into bonds, btc or gold. Probably not gold because it just ran, but if you don't care about volatility, even modest dips in btc would leave you with more than enough emergency funds to cover expenses in a worst case. It's pretty clear btc isn't going anywhere, and if it only goes up (even modestly) it'll beat anything any broker can offer to you with 0 fees. If you don't trust yourself to hodl the asset then just purchase through ibit.If you have decades and want to be more traditional about it, split it 60/40 via stocks and bonds. Then take that 60 and split it by two. Place half of the 60 into the s&p now and DCA the other half over time.I would just slap it all into btc though personally and not think about it.You don't have to be intelligent to manage your own investments when you pick one of those routes listed above. You just need discipline and not pull the money out if / when it goes down during a crash if you don't need it. It will always go back up, because the alternative is the world ending.
>>61195218>I would just slap it all into btc though personally and not think about it.very few investors have the stomach to sit through 50% dipsokay maybe this time it's different... would you bet your whole life savings on it?
>>61195223Yes. I already did, but I also know I'm built different than most (tism).If OP cannot trust himself to not sell like a retard when it dumps post institutional adoption then I suppose there is no avoiding the 1% "for dumbasses and normies" fee.I also believe that it's a good idea to have a chunk for emergencies / spending to get the itch out of the way like >>61191254 said. I wouldn't do 100k though. Maybe 20-50k because OP clearly likes to buy large depreciating assets like that boat, so he's already shown himself to be a large threat to himself.
>>61195240>>61195218Been holding link since 2017. I can sit through anything
>>61195240The boat isn't an investment but actually it's a Boston whaler and these hulls are coveted. I bought it from a family member so I didn't pay a premium and could sell it for a profit but wouldn't do that unless it was to buy a different boat
>>61195390>>61195396Then just buy btc and don't do anything else. Keep some as cash on the side (~20-30k) as money market funds (sitting in a brokerage earning yield or lend on aave for 4-6%) and don't do anything else. That's your safest bet. There's your free financial advice.
>>61190865the wealth management team fails to account for a tail risk and your account is down 0-25% for a decade
>>61190865use it to bet btc will hit 150k by 2025 on prophex, easy money
>>61195200Make sure you're up before 9 tomorrow for work wagie.
>>61190865What are you doing, dude? You could be dead in 10 years. You could be dead tomorrow. Why do you want guaranteed riches when you're too old to fully appreciate them? You're young and have them now. Use them.
>>61191558Wow… pathetic
>>61196559I'm going to practice law for three years until I am through my probation period. I'm a recovering drug addict and should be dead. Then I'm probably going to fuck off to SEA or bum around the country in a van. Unless I pussy out then I'll let the money sit until im 50, quit working and enjoy my millions. I probably have more money coming in my family. My dad's side all has water front property in florida worth over a million. Three houses. No cousins. All that money is coming to me and my sister... I like being a successful person and part of the legal community after being such a scum bag tho. There's a real risk I just fall back into smoking crack without all this structure. Another reason to hire someone... I just don't want to enjoy a bunch of freedom only to return to work later. Would like to keep grinding now.
>>61196610My ~1.2 million
>>61196559You sound like reddit fags when u tell them u have 7 figs, BRO SPEND IT NOW!!!erm? How about I invest it so I don't need to keep working **WIDE MOUTH** (For your reddit language)
>>61190865>>61191184From a pure numbers standpoint you’re probably better off just buying an S&P 500 or total world ETF and leaving it alone for 20-30 years.However like you said there is some value in locking the money up in someone else’s hands (if they’re trustworthy) to prevent you from making dumb irrational decisions or being a degen and spending it early. It depends on your own personality type, do you trust yourself to not be a retard? You’d have to be 100% honest >>61193330Some people can beat the market but either they’re actual 160 IQ geniuses, insanely lucky, have institutional resources/insider knowledge, and LOTS of time on their hands to dedicate to this. The key is that beating the market over short periods of time is easy, but over long periods extremely difficult
>>61196636There is zero chance OP outpaces a index, Zero.But he will put it in someone elses hands then notice the 1% fee over 20 years equated to like 80k in fees/lost compounding LOL for a closet tracker. THANKS FOR PLAYING.
>>61196684It will be a lot more than 80k but I still see the value
>>61190865If you are asking between using a managed fund or investing yourself. Use a fund. If you want to learn how to manage your own money. Do research and save up money from your job to create a brokerage account and trade with that.
>>61193540You can't help them, dont' bother. Goyium gonna fall for goyium tricks. Let the EXPERTS handle things OP!!!
>>61197160The fee's will be more than 80k? Possibly if you factor in platform costs & trading costs. Plus any swapping that induces tax drag?Or do you mean the gains will be, maybe my point of fee drag flew over your head. Many such cases by those who follow the EXPERTS.
>>61199947He should just by a world index if he plans to do nothing. Like thats the answer, the entire finacial *advice* industry prevents this answer because it means they can't extract value from your money. It's simple as that. I'm glad at least some fucking anons clued in on that.
Recession is about to hit and you want to go muh save investments? Retard.
>>61190945This, research some good returns EFTs and stash.
>>61196610You think working law is respectable? Lmao
>>61190865Please do not waste it. Just in case all of your investments go awry, keep at least half of it in cash and gain interest.
>>61200009Where do you people come from? Whats the long term plan to keeping cash in cash? To erode its value? Are u in India sir?
>>61199995It's a notch above smoking meth and picking up homeless niggers to buy crack
