Well, that’s great news!
We met with out FA yesterday. I realized that we were double-counting our travel budget. We had that spending from this year in our annual budget and going forward, but we also had it listed in the “other expenses” category because we knew that we wanted to do some traveling each year. Although our property taxes went up more than 20% this year so some of it will go there! Oh, well, easy come, easy go!
It is really hard to predict expenses. So many things come up in life. I guess the only thing one can predict is that they’re going to be higher than expected, not lower
Where do you live that prop taxes went up so much?
Texas. Take note all you people moving here because you think it’s cheaper. Texas is really proud of its no income tax status, but they get you in property taxes. I have friends who moved to Colorado, and they said that they pay no more in taxes between their income and property taxes as their property taxes there are reasonable.
No cool to say you people.
What are you supposed to say? You peeps? You guys and gals? You all? Ya’ll? 
Close. All y’all! 
I know, I moved from Texas to Georgia and my brother’s property taxes were 3x what mine were on my home which is bigger and more expensive than his. Then when I turned 65 no more school taxes or school bond - which is about 75% of what the taxes were anyway. It’s wonderful!!!
It really all depends where in TX and where in CO, and even where in GA or other states - and property details. A relative who moved from WI (small town) to CO (outside larger city) found food and generally other spending a lot higher – although I have noticed a dramatic increase in a lot of food items over the last two years especially.
A friend in the Dallas area did have a reduction in property taxes - there was some state law which gave some people relief in escalating property taxes.
The area we live in AL has had escalating property taxes - but if one has a real estate appraisal done that is lower, they immediately adjust the tax basis down (we had that done a few years ago, and they adjusted the property value a bit lower than the real estate appraisal). It pays to challenge when you have a case like that - we electronically sent in our property appraisal.
We received a small, but significant for us, inheritance when my mother died. At the time I felt insecure about investing it myself, so we used a financial planner that many of our friends had used and who we already knew slightly. It was a good match in terms of values and we felt like he understood what we wanted and we understood what he was doing. His fee was less than half of what other financial advisors typically change because of our relationship with him. Then he retired. And he sold his clients to a small group of advisors. We just met with them for the first time and I don’t like them. They are just too smooth for me or something. And their advice doesn’t make sense with the little I do know. So now what? How hard it is to move one’s money from one place to another? I feel like I could manage a set of index funds and bond funds myself at this point.
I suspect moving it will be pretty easy…. once you decide where you want it to go (that part may take some thought and research).
That’s good to know. Just the thought of paperwork makes me cringe right now. We finally finished setting up a trust.
Hmm… if the trust involves any of that money, the answer may be different. It would be worth a call to the office to feel them out.
The money is not in the trust yet. We sign things at the end of the month so I’ve got a few weeks to figure out what I want to do. I am so glad to have this problem! But I wish it were easier to figure out and that I knew more. Also that I could predict the future!
May I suggest the Bogleheads website? You will find lots of great information there, and you can ask questions if you have them. There are some incredibly knowledgeable people who are happy to share their knowledge.
I was just trying to remember the name of the site that has been recommended here. Off to explore.
You can do it yourself and avoid paying higher fees to an advisor. Warren Buffet recommends a 2 fund portfolio, 90% in an S&P index like Vanguard VOO and 10% in short term govt bonds VGSH. He previously recommended a 3 fund portfolio, which included some international stocks. However, in the longer term, the 2 fund portfolio beats the 3 fund portfolio. I am assuming that this trust account mainly provides for your heirs because it is more aggressive.
If it is for retirement, you can adjust the ratio of stocks to bonds.
not much paperwork anymore. For example, you can establish a brokerage account at Vanguard or Fidelity or Schwab (the latter two have retail offices), and then direct them to transfer assets from current broker to New Account electronically in-kind (ACATS). However, not all stocks/funds can be transferred in-kind; if current broker has you invested in some of their proprietary funds, then those will likely need to be liquidated to cash (MMF) before transfer. But I would think that you could execute that transaction yourself online. But note, if you have to cash out a fund in a taxable account, that transaction would be subject to income taxes. In-kind transfers in a brokerage are generally not taxable.
Take note all you people moving here because you think it’s cheaper.
Instead. Take note anyone moving here because you think it’s cheaper.
If you say ‘you people’ to someone of a different race/ethnicity you will get a look and possibly a punch to the face.
I AM a minority, and I said it generically to (mostly) anonymous people online. I think almost everyone understood that no slight intended.