TECHIES: Where to invest a million dollars?

New / Eng
seeatle

New Eng

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Facebook
seeatle
Mar 17, 2021 43 Comments

I worked hard and got really lucky and now have saved up to a million dollars in cash.

I want to invest this somewhere but don’t know where to go. I don’t want to invest in the stock market myself as it’s a very large sum, but I want some firm to do make these decisions for me so I can focus on something else.

These are some options I see, who charge a few of 0.25-1% per portfolio.

1. Wealthfront
2. Betterment
3. Schwab private client
4. Schwab robo + manual advisors
5. Other equity firms - suggestions?
6. Buy a house (I am currently renting)

I see that most of the firms go by the same strategy - they ask for your risk score and just diversify based on that. In the end, everything’s up to luck(if markets are favorable)

What I want:
* Grow my money with zero involvement.
* Be able to make a some donations every year.
* Be able to fund personal / non-profit projects.
* Buy a home later when I need it.

I know there are a lot of millionaires on blind.

What do you guys do with your money?!

TC: 500k
YOE 9

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TOP 43 Comments
  • Snap
    nfndbd

    Go to company page Snap

    nfndbd
    If you’re concerned about risk just throw it in a target date fund and DCA in. Pick target date based on your risk tolerance.

    If you’re a bit more open to risk DCA into SPY.

    I don’t think you need an advisor unless you’re trying to do something very specific.
    Mar 17, 2021 11
  • Addepar
    voltorb

    Go to company page Addepar

    voltorb
    Although you could do it yourself and save some fees, Wealthfront (or other robo advisors) is a solid option if your goal is truly zero involvement. It will also tax loss harvest for you, which could potentially offset the fees.
    Mar 17, 2021 2
    • Google
      86hgg35

      Go to company page Google

      86hgg35
      You can tax loss harvest yourself. Last time I did it it took 10 minutes and I harvested enough losses to last for 5 years. Wealthfront fees are 0.25%. That's $2500 a year on a 1m portfolio. And good luck if you ever want to move your money out. You'll be forced to liquidate and realize your gains.
      Mar 17, 2021
    • eBay
      manorama1

      Go to company page eBay

      manorama1
      @google - how you decide when to loss harvest ? Do you setup some alerts or how do you go about it ?
      Mar 17, 2021
  • New / Eng
    fd4ab0

    New Eng

    PRE
    Apollo GraphQL
    fd4ab0
    Read "the simple path to wealth". It's an easy read, 4 hours max, will solidify your perspective on money.

    Don't take my word for it, look at its Amazon reviews.
    Mar 17, 2021 0
  • Dell / Product
    _porsche

    Go to company page Dell Product

    _porsche
    TQQQ 40%, SSO 20% VT 40%. Rebalance monthly.
    Mar 17, 2021 2
  • Amazon / Eng
    Mufasaa

    Go to company page Amazon Eng

    Mufasaa
    Buy brk.b and forget about it. If it is good for warren buffett, it is good for you.
    Mar 17, 2021 0