Hi everyone, as the title states, I'm looking for advice on how best to divvy my dollars between Vanguard managed funds. I've just sold my CBA shares for about 90,000. Haven't paid capital gains tax yet but whatever's left over I intend to invest in Vanguard. I currently have about 10 grand in the Vanguard Life Strategy Growth Fund, now my only investment.
First a bit about my goals. I'm 40 and intend to leave this money in these investments until I retire. So it's a 20+ year investment. Given the 20+ year horizon, I'm willing to accept a higher risk fund for a higher return.
What I'm currently thinking is this:
Leave the 10 grand in the retail fund (life strategy growth) - for ongoing small fortnightly instalments (to avoid the brokerage fees of the ETFs); and
Split evenly the approx. 70K between the following ETFs: VEU, VTS, VGS, VHY
My questions are as follows:
1. Thoughts about my split - would you agree or suggest a different split across the ETFs or allocate more to retail funds for better diversification/growth?
2. I note that the management fees are reduced after $50,000. Do you think it would be better to choose only two funds with investments over 50k rather than a number of managed funds under 50K? Would lower management fees or greater diversification be best?
3. Thoughts on my current retail fund (life strategy growth). Should I stick with this or would a different retail fund be better (perhaps high growth)? Why?
4. Which online broker would you recommend for a largish one of ETF trade like this?
I would really appreciate any advice you can offer. I know that this is not the advice of a professional planner and shouldn't be taken as such. I respect the knowledge and intelligence of the forum members and any advice will only be used to assist me in making an informed decision but will not form the sole basis of that decision.