wilsonhammer t1_j2awdiz wrote on December 30, 2022 at 10:20 PM

Reply to comment by Temujin_123 in What are your EOY personal finance rituals? by Temujin_123

sounds reasonable. hope they're not taking a percentage of your investments though!

Temujin_123 OP t1_j2aww2g wrote on December 30, 2022 at 10:23 PM

Sadly, they are. I know that's not optimal and will eat into things long-term. But it's not high enough that I'm worried about it - my rights of accumulation makes the percentage low. This is only for ROTH/529s.

If I had to go back I'd do fee-only. But it's not enough of an impact for me to bother switching.

wilsonhammer t1_j2axtj3 wrote on December 30, 2022 at 10:30 PM

It's never too late. but if the amount truly is low, then yeah, might not be worth the hassle of switching. Might be worth it to calculate the exact dollar amount of what you're paying them and re-evaluate. If it's surprisingly low (or high), at least you'll know. ¯\_(ツ)_/¯

happy new year!

invenio78 t1_j2dtn8w wrote on December 31, 2022 at 2:56 PM

> But it's not enough of an impact for me to bother switching.

Maybe you should have them run the numbers on how much those AUM fees are going to run you overall your lifetime. :)

In all honesty, it sounds like like you are pretty skillful with finances. I would not be paying more than a few hundred dollars for the "fun of running a few scenarios." Doing the yearly backdoor roth takes about 15 minutes of your time.