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Christine Benz - Good Enough Financial Plan & Portfolio

beebee
edited 8:49AM in Fund Discussions
Benz suggests focusing more time setting financial goals and less micromanaging your investments.

Save early and often in the short term... invest for the long term.

Chrisitine Benz suggest:
- Consider Target Date Funds
- Keep Expenses Low - Under .5%
- Auto Contribute... Auto re-balance
- Hold Tax Efficient Investments in Taxable Accounts...Index Funds, Tax Free Munis, some individual Stocks
- Match your many financial goals to your investment accounts
- Determine your withdrawal strategy: when will SS be taken (Early, Normal, late), what will be your large one time expenses in retirement (weddings, healthcare events, vehicles, home purchase or renovation, etc), what are your financial goals in retirement (downsize home, relocate, travel,etc.)
Sometimes perfection really is the enemy of the good. Christine Benz, Morningstar’s personal finance and retirement guru, has come up with some “good enough” solutions for portfolios and financial plans that work well for most of us.




and,



Comments

  • larryB
    I find it interesting that Mz Benz does her excellent work at Morningstar, which got its start helping investors find the mutual funds that would beat the indexes. I remember my subscription came with a giant binder and on a regular schedule I would get the updates and replace one section. If one followed the contemporary advice from Mz Benz, M* would be superfluous. This site and Seeking Alpha are for investors who believe they can beat the market . And of course Bogleheads by their dogma are content to match the market performance.
  • Observant1
    edited February 7
    Ms. Benz's theme reminded me of a recent article she wrote regarding "satisficers" and "maximizers."

    https://www.mutualfundobserver.com/discuss/discussion/comment/201729
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