I called my financial manger at Morgan Stanley today to find out that he left two weeks ago. He didn’t even say goodbye, he just took my $700 and left! As you can recall this is the dude I pay a hefty 1.3% to manage my wife’s Roth IRA (part 1 and part 2 here). He has picked some ridiculous 19 fund portfolio that overlaps to all hell. Mine is a simple 2 fund portfolio 33% domestic equities and 66% international. In light of the shocking patient abandonment situation, I guess it is good time to check on how things are going. Lets take a look at my holdings, there have been no new contributions due to the income limit for direct roth contributions. As you can recall I have a simple 2 fund portfolio with Vanguard:
|Vanguard Growth Index Fund Admiral Shares||VIGAX||32.5%|
|Vanguard International Growth Fund Admiral Shares||VWILX||67.5%|
As of 16 April 2017, I have $53.5k in the wife’s and $87k in mine, today at the open of market this 21 July 2017 I have $91,370 in mine and my wife has $54,625.
Well I still have my job, so I guess I am ahead of the Morgan Stanley guy. How can a tooth carpenter out preform some dude that spends his entire day looking at analysis? Is it time to trust in ourselves and not fall prey to the “experts” out there? Anyways if you had just made the same moves as me you could of saved 1.3% on fees! I am still awaiting a phone call to see which Bro they assign me to next!