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URL:  https://boards.fool.com/thats-why-im-thinking-that-i-need-a-plan-23367136.aspx

Subject:  Re: Retirement Plan - Which Way To Go? Date:  12/1/2005  10:20 AM
Author:  DeltaOne81 Number:  48543 of 96095

That's why I'm thinking that I need a plan prepared by someone who hopefully knows what they are doing. Or maybe I should just leave things alone and hope for the best.

No, I wouldn't do the latter. You need to understand and be comfortable with what you have or your emotional 'risk' is huge and that leads to financial risk as well.

So you inherited more money and it significant confused the picture due to all the varying assets. Well, were you happy with your current retirement/financial plan before? If so... let's say that you had $200K and now you're adding $400K to it. Why not sell the $400K worth of stuff and use it to triple each of your existing holdings. Then you're in the exact situation you were in before.

Since you inherited the money, perhaps fairly recently, you're dealing with a stepped up cost basis, so the tax effects should be minimal (one of the very GOOD side effects of the estate tax), and hopefully whatever there is will pretty much cancel out.

If you weren't happy with what you had before, ignore the fact that you inherited money and make an asset allocation plan on your own. The use the new money as additions to the old to get you to your new goal, with however many funds and stock you feel comfortable in.

Perhaps then pay the advisor a couple hundred dollars to "asset and adjust" your plan, gather feedback, and ask your tough questions, rather than paying them a small fortune to create it for you.
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