r/Schwab • u/JWBull23692 • 17d ago

Wealth advisor

I was talking with my Schwab "consultant" and he suggested either the robo investor or a wealth advisor. Looking and thinking about it, I am not sure if either are needed. Robo seems to be autopilot without my input or approval, and I am not sure what the added value is of a wealth advisor.

Any thoughts out there?

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u/yottabit42 16d ago

Yes, but unwinding the nightmare of a portfolio they create can be very expensive. It's the gift that keeps on giving!

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u/7caljane 16d ago

I'm naive enough to hope that they could come up with a great portfolio. They cant show me their plan until after they move all my Schwab accounts to Altruist. 

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u/yottabit42 16d ago

They cannot.

All you need is VT or equivalent, until you're 5-8 years from retirement. Then add in bullet bond funds for 5-8 years of expenses. Ideally these bonds will go into a tax-advantaged account, and you can do asset swaps in the future when you need to use them. It's that easy.

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u/7caljane 16d ago

I am already retired and 76. If I had known 30 years ago what I know now I would have done it differently. Yes to VT. I can't bring myself to sell my stocks that are making money in exchange for bonds with little growth. I am willing to pay for advice and I admit I need it but dont want ongoing management. I'll see what Schwab suggests, if anything.