No. of Recommendations: 0
The problems you have are nice ones. I have tried the Robot type portfolio management and a professional advisor. Both were OK for a short term (2 years and 4 years respectively). By OK they actually had higher returns than a very simple 1 mutual fund investment - Vanguard Wellington.

You can easily do worse than VWENX, but there are very simple ways to beat the vast majority of managed funds and fund advisors. Buy a good S&P500 index (VFIAX for example) and enough cash to cover major expenses and deal a situation where one of you looses income as the market tanks -- i.e. at a time you do not want to be selling stuff.

Such an approach is not without issues. The biggest one I see for you is the roughly 2.5% cash dividend from an S&P500 fund. That is taxable. It is easy to get greater returns than such a fund, but almost always that higher return comes with more income tax and/or more risk.

Since you have a high income, you probably should spend some time looking at the tax efficiency of any funds you get. (Hint - bonds are not tax efficient, but their purpose in my view is not for income - they are to CYA in times like September 2008 through April 2009.)

Morningstar is an excellent place to research options. This link shows one fund I mentioned and shows both pretax and post tax returns.
http://tinyurl.com/ybyyfyem
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