So from how you have described things, you really don’t need the money yourself, and paying off her mortgage would cost perhaps a tenth of your nest egg. Assuming both are true, why not? What would the actual problem be if her spending rose to meet her newly expanded resources? Many bogkeheads want their heirs to be just like them in outlook, but people are different.
I would agree with others that you would do her a service were you to consolidate, perhaps go to just one brokerage, and put the whole thing in either a three fund portfolio or a life strategy fund (assuming you don’t have a lot of taxable gains, if you do, sell the small stuff anyway,)
Since it seems you like the speculation aspect, you might instead want to consolidate almost everything at one broker in your boring portfolio, and put the gambling money at a different broker. It looks like you have been speculating with 0.33% of your portfolio, or about 10k. If that’s in a separate brokerage, you are less likely to start doing that with what you are investing for your heir,
I would agree with others that you would do her a service were you to consolidate, perhaps go to just one brokerage, and put the whole thing in either a three fund portfolio or a life strategy fund (assuming you don’t have a lot of taxable gains, if you do, sell the small stuff anyway,)
Since it seems you like the speculation aspect, you might instead want to consolidate almost everything at one broker in your boring portfolio, and put the gambling money at a different broker. It looks like you have been speculating with 0.33% of your portfolio, or about 10k. If that’s in a separate brokerage, you are less likely to start doing that with what you are investing for your heir,
Statistics: Posted by jackholloway — Sat Jun 29, 2024 2:57 am