No. of Recommendations: 4
I've been managing my father's assets since 1999 because of medical issues. When he moved up to be near us, and requested me to manage his affairs, his portfolio was entirely stocks, and a few individual California muni bonds. He had a full service broker who had been churning his account at an absolutely shameful rate.

I moved his account to Schwab, since he had enough assets that I could get some hand-holding from them when needed. His biggest problem was that he was about 35% invested in IBM, where he'd worked for 40 years.

Since then I've been aiming cut down his IBM percentage as fast as possible, with an eye on his cap gains. I've been moving those assets primarily to the Schwab 1000 fund, the Schwab ST bond index fund, Vanguard REIT index, Vanguard Calif muni fund, and a few stable, dividend paying issues like XOM.

The first quarter of every year is pretty exhausting for me. First I have to do my wife's and my taxes, then his. This Spring was complicated by increased medical issues, trips to the emergency room, and moving him to a place where he can get a higher level of medical care. For the last month it's been evenings and weekends physically moving, and disposing of his stuff.

I have, over the last 6+ years, very much enjoyed learning about finances, but I'm currently at a point where I definately do not have the extra time or energy to follow individual companies closely enough for peace of mind, let alone trying to beat the market.

When I came upon Bernstein's "Four Pillars of Investing," last fall, it was a real breath of fresh air, above all, for the time such an approach can free up.

I am not, nor do I expect to soon be, 100% invested in index funds. I hold, and will continue to hold, several managed funds, eg, Dodge and Cox Balanced (DODBX), and a few conservative, dividend paying individual stocks.

But above all, both in my accounts, and my father's account, it is a great relief that such simplification can save me a ton of time, as well as probably get as good or better returns that would have been possible by more frequently stirring the pot.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.