Consolidating investments
Background:
Married, retired. I’m 72, wife is 70.
2 adult married sons and 5 grandchildren, 8, 10, 15, 19 & 21.
Owe $190k on home.
No other real debt. Maybe a couple of thousand per month in credit card bills(2 credit cards).
780+ credit score.
$1.3m in /TransAmerica (457 plan)
$220k at Schwab ($238/month fee)
$7k in State University Retirement System (SURS – not eligible for monthly pension payment so plan to rollover into IRA).
$150k/year in pension benefits.
QUESTION:
New (to us) certified financial planner suggesting we move all investment assets from TransAmerica, Schwab and SURS into a variety of American Funds instruments.
I’ve never heard of them but come highly recommended by our CFP.
Thoughts, comments?
Thanks so much for taking the time to consider our dilema.
Sincerely,
Terry Says
And just where did you get this CFP??
Did you use my recommended service — Wealthramp — to find a FEE-ONLY FIDUCIARY?
NO YOU DID NOT!! The reason I know that is that American Funds all come with a hefty commission!
Start over, and click on the link above to understand how to choose a financial planner who will look out for your interests first!
