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Home > August 2014

August 2014

September 4th, 2014 at 03:31 pm

Cash & Savings: $105,322 => $137,364 (30.42%)
Foreign Currency: $37,717 => $37,778 (0.16%)
Domestic Brokerage: $219,837 => $227,397 (3.44%)
International Brokerage: $234,918 => $237,743 (1.2%)
401(k): $130,807 => $131,465 (0.5%)
IRA: $43,022 > $43,958 (2.18%)
Roth IRA: $105,873 => $110,991 (4.08%)
Total Assets: $877,496 => $925,896 (5.52%)
Again the big jump in cash position has a lot to do with all the business travel expense reimbursement. The rise in domestic brokerage and retirement account reflects the strong US stock market but international doesn't fare that well.

As I mentioned in my reply to fellow blogger ‘snafu’ I met a financial adviser from Fidelity last Friday since I qualified for their premium service. He looked at my new 401(k) account and suggested what funds to invest and corresponding percentage. He will also look at other accounts and holdings I have to make a comprehensive proposal two weeks later.
There are three things I need to do this month:
1) My previous employer still hasn't moved their 401(k) account from Merrill Lynch to Fidelity and as a result I can’t make any adjustments there. I need to find out how long this process is going to take because six weeks seem way too long to me.
2) I decided to invest $15,000 in a start-up my friend and his partner started a few months ago. The investment will be made in promissory note with a 5% interest if the business doesn't take off in two years.
3) Move some extra cash into my Fidelity brokerage account and buy some low cost funds, including S&P 500 index fund. Fidelity has a promotion that gives you $100 if you move $50,000 over and $200 if you move $100,000 over but that is not why I’m moving more cash over, it’s to deploy cash into other investment vehicles.

Posted in Uncategorized | 2 Comments »

2 Responses to “August 2014”

  1. snafu Says:
    September 5th, 2014 at 06:02 am 1409896949
    1409896949

    Coincidentally, I likewise met with a financial advisor who explained I qualify for 'Imperial Service,' with a special team who will decide which MFs best help to meet my stated goals. I get to pay 2%, absorb all the risk for a computer generated diversification which demands I fall into their cookie cutter pattern. I kept asking how this benefits me and either the CFP or branch manager went into their spiel about how privileged it is to be an Imperial client. I guess that snob factor must work for some, if it hadn't been rude, I would have been laughing. The bottom line was they bought percentages of regular MFs available to all which their analysts liked.

    Have you considered less expensive options? Companies like Vanguard can arrange a smooth transfer from their current site to protect you from any tax consequence or penalty and you can select the allocation or use their recommendations from the goals you've set. Fidelity likewise has terrific products, they have a higher MER here than in the USA.

  2. Easy Cloud Says:
    October 7th, 2014 at 02:08 pm 1412690891
    1412690891

    The Fidelity adviser I met last month showed me their fee, which is 1%, but he agreed that I don't really need a managed service. He provided the Fidelity recommendations to me based on my investment strategy and asset mix target. Also the higher network you have the lower the percentage goes. I didn't pay attention to their pricing structure because I have no intention of using it.

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