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Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha.

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

I definitely share your sentiment about these firms. Finding financial advisors like Kathie Daisy Bosco who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

Larry, Thank you for highlighting the important differences between Quicken and Simplifi. Quicken Classic is comprehensive budgeting and investment management software. While Simplifi is quite basic, and designed for those just starting on the financial journey.

thanks for the feedback!

I can't tell you how much I appreciate your comments Reem. They boost my mood and my day! THank you. I wish you abundant wealth and success in your life.

Thank you for watching. I'm glad you found it helpful.

@wagnersfarm - I have been a Quicken user for decades, as I mentioned in the video. Unfortunately, I have not personally used Simplifi. When I've had problems with Quicken, I have called customer support and received good assistance. Simplifi lists several ways to get help, including live chat Monday through Friday 5am to 5pm PT, and if it's outside of the live chat hours, you can leave a message and they will get back to you. They also suggest reviewing the FAQ and support topics as well as reaching out to community support. Here's a link that should help you. help.simplifimoney.com/en/articles/5077917-how-to-contact-support Let us know how it turns out for you. Best regards, Barbara

I just dumpled Simplifi today. Too clunky. I learned there is no traditional 'reconcile' function like there was in Quicken and it wants to log into my banks which I want to do manually. I had a problem with a transaction being added to my balance today and after a half hour of good support they couldn't tell me what was going on. That and it being hard to use, in my opinion, I cancelled my subscription after 16 days. I'm looking for something new now. As for you, 'pending' is meant to be for when you enter a transaction that hasn't hit your bank yet (ONLY if you let the software connect to your bank) so later it will connect and then 'clear'. If you don't let it connect ever (like me) then it should always be 'cleared' because you aren't using that functionality. Maybe that helps you.

Thank you for watching. Glad the information was helpful.

Thanks so much for writing in with your question. I'm curious as to why you are asking. In general, rebalancing is either done when asset values deviate a specific percentage from the target, or by the calendar, at pre determined time periods. There are pros and cons to each strategy. I'm not certain how often Schwab rebalances, and it really doesn't matter that much. The beauty of investing with a robo-advisor, is that they will make the rebalancing decisions on your behalf. I'm sure if you read the ADV, prospectus and/or called a Schwab Intelligent portfolios representative, you could receive a more specific answer.

@@BarbaraFriedberg I'm curious to know how a Robo advisor would respond to different market conditions. For example, if an ETF started losing value, would the Robo advisor sell shares and shift the investment to something more stable? Conversely, if they expected a particular fund to rise significantly in value, would they invest more in that fund? And in the case of an impending recession, would they move money into funds that are likely to be less affected?

@@fragile1976 That is a great question. Most robo-advisors provide a "risk tolerance and financial situation" quiz before you invest. Next, you will get a risk "score." The robo-advisor then crafts a portfolio in line with your "score." If you are more aggressive, which typically equates to being able to handle greater drops in your portfolio value, you'll be assigned a larger percentage of stock investments, and fewer bonds. While if you're more "conservative" and older or uncomfortable with the potential declines in your investments, then you'll be assigned a greater percent of bond funds vs stock funds. This will be your "target" portfolio. Most robos do not respond to different market conditions, but to deviations in a clients preferred asset allocation. Most robo-advisors rebalance, or buy and sell funds when your portfolio values deviate by a certain percent from your "target" portfolio. For example, if stocks decline, and bonds are stable or rise, the managers will buy more stocks and sell bonds, to return to preferred allocation. The exception to this is with "actively managed" robo-advisors, such as T.Rowe Price ActivePlus Portfolios or Merrill Edge Guided Investing (MEGI). Thanks for the great question.

Hi Reem, Your comment means so much to me. If I can impart smart and sensible wealth-building information to one person, I feel like my work matters. I wish you future prosperity, through sound money habits. Best, Barbara

Hi Tommy, Marcus is closing down their Marcus Investing Products. You can still use the app to invest in savings products such as CDs and savings accounts. You can also use the Marcus app to manage your GM Rewards credit card, according to the iOS Marcus app description.

Hi Carson, I understand that the cash allocation is an issue for some. Schwab was previously cited and fined by the SEC for not making the cash allocation transparent enough. Schwab lists the cash allocation prominently on the "Schwab Intelligent Portfolios" home page and includes a broad explanation. The cash is invested in a higher yield cash account. Consider the "cash allocation" as part of the fixed income/bond asset class, which is a portion of a diversified investment portfolio. If you're a younger, more aggressive investor, you can choose a more aggressive portfolio with fewer cash and bonds. A benefit of the cash allocation is in declining investment markets, your cash allotment will serve to temper the losses. In rising investment markets when the stock market is soaring, the cash allocation can curtail returns. Every company needs to make money. A "price" you pay for investing in Schwab Intelligent Portfolios is a requirement for a cash allocation. If you're uncomfortable with holding any cash in your investment account, then you might want to consider investing with other robo-advisors, or on your own. Thanks for writing in, Cooper, Barbara

In most cases, you will receive a 1099 for the interest earned on your high yield cash or savings account, and that interest should be included on your tax return. But, I am not an accountant and don't know your particular situation so you are best served checking with a tax preparer or CPA.

Thanks, Barbara. I'll read it. I usually go audio so I can work and listen. ;)

Thank you, I'm glad you liked it! I'll do my best!

Hi Doug, With investment management, it is customary to break up fees. Nearly all ETFs have expense ratios, whether you buy them on your own or are invested in them through a robo-advisor. If you want to determine your average fund expense ratio, you'll multiply each fund's expense ratio, by the percent invested within that fund. Then you will sum the total. That will give you your average fund expense ratio. Schwab's Intelligent investor doesn't charge investment management fees to manage and rebalance your account. So, the fees you're paying to invest are only the ETF expense ratios.

Thanks, this is quite helpful!@@BarbaraFriedberg

Thank you, Steve. Your comment means a lot to me!

@@BarbaraFriedberg You're welcome Barbara and I'm so happy my comment meant a lot to you! An excellent thorough presentation! Take care!

I suggest that you give your wife your login credentials. But, you might need to be accessible should the two-factor authentication require a code that would be sent to your mobile phone.