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Go join the Bogleheads forum and read their 3-fund portfolio/starter kits. Absolutely no need for a financial advisor if you expect long-term average gains.
Consider backdoor Roth IRA (contribute annually to Traditional non-deductible IRA and then convert to Roth IRA each year) - this way it’s tax free growth when you withdraw in retirement. Ask your tax pro or financial advisor for details. You can find a fiduciary advisor who you pay a one-time fee, instead of ongoing mgmt fees.
Fees. What’s your advice on investing my savings? Financial advisor (I say this with a cringe due to the expense over time)?
Is it all in savings right now?
What’s your goal? When do you need the money? Retirement ?
Thanks guys. $290k is all in savings. The rest are already invested I want to invest most of it looking long term
I think active management is a waste until you get to very large investments. I have had success with robo advisors. I’ve trialed Wealthfront and SigFig because both manage $10k for free. If you are interested in Wealthfront let me know and I can send you my invite link. We will both get an additional $5k managed for free if you use it. I’ve done this several times so now have $25k managed for free.
Any tips on finding a good one-time fee advisor? I don’t have an advisor or tax pro
Depends on your investment goals. Be clear on these upfront and don’t stray too far from a plan to reach these.
If you need passive income, bonds are returning reasonable rates nowadays. Or real estate.
Long term? VTI, SPY, VGT