35 y/o recently hit $1m nw. Currently have 400k in cash 250 in physical gold/silver/ vintage rolexes and 350 in equities. My equities split is $100k VTI 250 in blue chip dividend stocks and high quality reits. 1) Would it make sense to have a PWM manage my portfolio or allocate the remaining cash into VTI? 2) is my current allocation too conservative?

likefunny
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Me not know.

likefunny

Yes, you are too conservative for the long term financial goals. That is a lot of cash losing value in our low interest economic environment.

like

If you keep “current” and the corresponding limit orders relatively up to date (say update once a week), then it’s better. But if you set those limit orders based on the current today and never change them even as the market moves higher, you may never invest that money. Example if the market moves up 21% over the next 24 months and never has a 5% (or even if the max drawdown is 9%), then you will never deploy (all of) that money and will continue to miss out on gains. Edit: to clarify the current should be the most recent high (based on your strategy)

helpfullike

Who needs PWM when you have us?

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I think you’re being far too conservative, but it’s a personal decision that you have to live with. If Being in more equities will keep you up at night and selling during a big dip, then it’s not right for you. Personally, I’m at $3.5M net worth, with 49% in index tracking mutual funds, 49% in real estate, and 2% in cash. I don’t use an advisor, because my allocation is pretty straightforward, and feels like it would be an unnecessary drag on my returns.

likehelpful

Ditto. Index funds doing well.

Significant other? Kids?

like

Don’t think you need a PWM, assuming you are happy with your current yields and returns. Current holdings seem slightly conservative based on your take home. I would move back into some stocks. Just my two cents

like

Depends on what your goals are, and the timeline for each goal. Whatever you are saving retirement can be pretty aggressively invested in stocks at your age, but if you are planning to make a down payment on a house in the near future, whatever you have set aside for that should be more conservatively invested

like

You probably have a reasonable amount in cash. In addition to your $250k down payment, you need $50k for closing costs in NYC, plus you still need an emergency fund, moving, and furniture budget

How did you do this?

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Had a small online retail biz before mba (which accounted for most of the savings) now in B4 strategy consulting (which pays the bills)

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You’re who am I to be when I’m in my 30s. I am turning 22 this year...this is some impressive NW man. Kudos to you

uplifting

Where do you buy your Rolexes?

Bought them all a long time ago mostly through timezone sales corner and other collectors I know. Haven’t bought a new one in 10 years as they are crazy expensive now

like

Cash allocation is too conservative and way over indexed in metals.

I am cash heavy. Depending on your risk tolerance level and safety needs. Too much stress can cause health issues, which may be costly.

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