I'm 47, with about $750k saved up. I have about $500k in 401k accounts, and another $250k in a mix of post-tax accounts. Of this $250k, I put $100k in a Northwestern Mutual brokered account; $100k in Etrade, which I manage myself; $25k in an Etrade brokered account; and the rest in shorter term savings (checking and money market).
Over the past 3-4 years, the NW brokered account has netted about 1.5% (total). The Etrade brokered account is at about -8% (again, total). But my selection of index funds and stock picks in my Etrade account is up about 15%.
Also, my various 401k plans have all been doing well - certainly not negative. I'd shove more money there, but I'm currently maxed out on 401k and SIMPLE. Roth isn't an option. With recent income gains, I can afford to start saving an additional $30-50k or more per year, so I need a plan as I start to accumulate "real money".
I'm not supposed to know what I'm doing. I'm not in finance, and I don't do a ton of research, but I buy stocks that I believe have long term value, and I buy them when I see a bargian (i.e. unrelated negative market action). Sure, maybe I got lucky, but how are the two expert accounts doing so poorly in comparison?
Enter my question... Should I move the NWM and Etrade brokered accounts somewhere else? Is there another agency that would be better suited to actually working to get me a return, rather than just the "set it and forget it" plan they seem to have? I've heard mixed reviews about places like Edward Jones, and I don't see any reason to jump to another broker if they're just going to take my money and shove it into some generic industry or index fund.
Or do I just shut that crap down and shove it in SPY, XLK, VTI, VTSAX, and SPHB in my own account?
Or do I just give up on this whole thing and buy 5% CDs?
TL;DR - Does any brokerage out there actually know how to make a profit for their clients?
Submitted September 30, 2023 at 08:26AM by prof_dorkmeister https://ift.tt/FTNv2Zz
