My siblings and I have identified a facility for Memory Care that costs $8000 per month that my mom will be moving into in the next week. This is less expensive than another place we had been considering.
Her Social Security will cover about 2200 per month of her expenses so we will be drawing $6000 per month from her portfolio at least for the near term. My brother has been out of town and off grid for the past few weeks on a wilderness trip so I've had to make some decisions about the restructuring of my mom's portfolio without him in preparation for my mom to move.
I'm totally stressing and am alternately paralyzed and frantic. I keep second guessing myself and changing my mind about what moves I need to make next, though I understand I have most likely have not gone far enough in terms of preservation of principle. Logically what I'm doing makes sense but it pains me emotionally to feel like I'm killing any potential growth of her portfolio for here and ever after when I know how hard she saved to build it.
So far I've:
Sold about 90k of intermediate bonds including corporate bond funds (VCIFX) and international bond fund (BNDX) and rolled it into a CD ladder.
Sold about 85k of VSUX International stock ETF and put it into a CD ladder.
Total = 175k in CD ladder
Sold an extended market fund (VEXAX) and put 30k in Money Market for any short term surprises that could arise from the move to the facility.
Kept 105k of VBTLX and kept 60k in BNDX but believe I need to muster up the nerve to exchange some of it for a short term treasury fund now because I need to shorten duration. However, this move has been especially hard because I was hoping to hold these hoping they fully recover in the 12 months. With every move I make I'm worried about doing the wrong thing and causing irreparable financial harm.
Kept 80k in domestic stocks mutual funds. VPMAX (Prime Cap) and VGHCX (Health Care). These were my mom's very first Vanguard funds and her favorites; they have performed well and she spent them down. I'm thinking of exchanging them for VTSAX or S&P 500.
I was not expecting this to be so hard. I think I'm about half way to restructuring her portfolio and am frozen with fear of potential regret.
Her Social Security will cover about 2200 per month of her expenses so we will be drawing $6000 per month from her portfolio at least for the near term. My brother has been out of town and off grid for the past few weeks on a wilderness trip so I've had to make some decisions about the restructuring of my mom's portfolio without him in preparation for my mom to move.
I'm totally stressing and am alternately paralyzed and frantic. I keep second guessing myself and changing my mind about what moves I need to make next, though I understand I have most likely have not gone far enough in terms of preservation of principle. Logically what I'm doing makes sense but it pains me emotionally to feel like I'm killing any potential growth of her portfolio for here and ever after when I know how hard she saved to build it.
So far I've:
Sold about 90k of intermediate bonds including corporate bond funds (VCIFX) and international bond fund (BNDX) and rolled it into a CD ladder.
Sold about 85k of VSUX International stock ETF and put it into a CD ladder.
Total = 175k in CD ladder
Sold an extended market fund (VEXAX) and put 30k in Money Market for any short term surprises that could arise from the move to the facility.
Kept 105k of VBTLX and kept 60k in BNDX but believe I need to muster up the nerve to exchange some of it for a short term treasury fund now because I need to shorten duration. However, this move has been especially hard because I was hoping to hold these hoping they fully recover in the 12 months. With every move I make I'm worried about doing the wrong thing and causing irreparable financial harm.
Kept 80k in domestic stocks mutual funds. VPMAX (Prime Cap) and VGHCX (Health Care). These were my mom's very first Vanguard funds and her favorites; they have performed well and she spent them down. I'm thinking of exchanging them for VTSAX or S&P 500.
I was not expecting this to be so hard. I think I'm about half way to restructuring her portfolio and am frozen with fear of potential regret.
Statistics: Posted by Exurbanite — Thu Sep 26, 2024 6:38 pm — Replies 25 — Views 3785
