My Planner Has Me in 19 Funds
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 31 December 2019
⏱️ 11 minutes
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Summary
When it comes to a diversified portfolio, how many funds is the optimal number? Well, it kinda depends on each case, but I'm gonna go out on a limb here and say that 19 separate funds is way too many. That's the situation facing Jennifer from Buffalo.
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Transcript
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| 0:00.0 | Welcome to the Jill on Money Call of the Week. We are presented by Marcus by Goldman Sachs. |
| 0:09.2 | This is our opportunity to help you out. So if you've got a financial question or a career decision or |
| 0:15.4 | something big going on that has a dollar sign attached to it, send us an email. |
| 0:19.9 | Our email address is Ask Jill on Money.com. |
| 0:24.4 | That's Ask Jill at Jill on Money. |
| 0:28.1 | That's what Jennifer did. She's calling from Buffalo. |
| 0:30.9 | Hello Jennifer, what can I do for you? |
| 0:33.2 | Hi Jill, thanks for taking my call. I love your show so I really appreciate the guidance |
| 0:38.9 | here. Of course. So I have a question about rebalancing. Everyone says at the end of the year you have to rebalance. |
| 0:45.0 | And I guess I'm not really sure how I'm supposed to do that. |
| 0:49.7 | We have a brokerage account that we transferred over from an advisor and we transferred everything over to Vanguard. |
| 0:56.1 | He had us in a 60-40, I think, stock bond portfolio, but he has this in 19 different funds. |
| 1:03.2 | What? |
| 1:04.3 | Yeah. |
| 1:05.3 | Oh my God, that's exhausting, just hearing that. |
| 1:08.0 | It is. |
| 1:08.7 | So I went through all of the funds that he has us in and I went on Morningstar and I tried to figure out what each of them was and it's a combination of large caps, |
| 1:20.0 | corporate bonds, municipal bonds, financial security bonds. |
| 1:24.6 | So there's a lot of variety, but I'd really like to simplify. |
| 1:29.0 | Yeah. |
| 1:30.0 | I'm not exactly sure how I do that. |
| 1:32.0 | Okay, let's start with this. |
... |
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