MW 'I'm a big fan of DIY investing': I'm 64 and moving to the U.S. I have $2.6 million, but no Social Security. Will I be OK?

By Quentin Fottrell

'Advisers do well in bull markets and poorly in bear markets, while I generally do better during downturns than the S&P 500'

"We will fund our retirement solely from our accumulated savings." (Photo subject is a model.)

Dear Quentin,

We are on sound financial footing.

My wife and I obtained our green cards in 2023. I am 64, and my wife is 56. I will quit my job in December 2026, and my wife is a homemaker. Our kids are in good jobs and don't need our money. We will fund our retirement solely from our accumulated savings (no Social Security, pension or employer-sponsored healthcare).

We have a house ($700,000 cash) and a condo in a great location ($500,000 cash), both in Silver Spring, Md. The condo is rented, and we will live in the house after December 2026 when we move to the U.S. We also have an apartment in Singapore with an approximate equity of $1.4 million (converted from Singapore dollars).

Our brokerage account has $2.6 million (70% equities and 25% bonds/bond funds). We also have a few small investments (two IRAs worth $50,000 each, two small plots of land in India worth about $60,000 each, a few insurance policies worth $100,000 each, and a policy on my life worth $1 million).

I am a big fan of DIY investing. Since early 2017, I have earned a slightly higher return than the S&P 500 SPX. Does it make sense to hire a wealth manager? I am OK with paying a 1% fee. Advisers do well in bull markets and poorly in bear markets, while I generally do better during downturns than the S&P 500.

Will we be OK?

Ph.D in Business Administration

Related: 'I'm in a financial mess': My income was cut in half. Do I sell my $600K home and kiss my 2.9% mortgage rate goodbye?

You can email The Moneyist with any financial and ethical questions at qfottrell@marketwatch.com. The Moneyist regrets he cannot reply to questions individually.

Your healthcare costs will only be one expense, but it's a big one.

Dear Ph.D.,

Your multiple homes are all paid for. On that basis alone, you're pretty fancy.

Your healthcare costs will only be one expense, but a big one. You are eligible for Medicare as a green-card holder who has not worked in the U.S., but you must be age 65, and be a lawful permanent resident here for five continuous years; so you will be eligible in 2028. You'll also have to pay monthly premiums for both Medicare Part A (hospital) and Part B (doctor) as you lack work credits for premium-free coverage. Without Medicare, you could pay $900 to $1,400 a month for health insurance.

You have enough investments to see you through retirement, even if you take 4% of the current balance (starting with $8,667 a month in your first year), assuming a 6.25% annual return on your portfolio, and adjusting for 2.5% annual inflation. (Of course, your investment will earn more/less in some years than others.) In fact, you'd have $3.7 million after year 10 and $5.4 million after year 20, ??assuming no other major withdrawals other than the 4% rule. So your investments would outlive you and your wife.

You have enough investments to see you through retirement, even if you take 4% of the current balance.

Even assuming a conservative $5,000 a month between your Singapore and Silver Spring rentals (after taxes and other deductions) you would be in a comfortable place to retire in the U.S. You're picking an expensive area to retire in. The average cost of a home in Silver Spring is around $540,000, according to Zillow (Z). Maryland has a progressive income tax with eight brackets, from 2% to 5.75%. Property taxes also vary widely in Maryland, based on your county/municipality (1.1% in Silver Spring).

Do you need a wealth adviser? Probably not, based on your relatively simple financial portfolio. A financial adviser or planner? It couldn't hurt. Whatever you decide, make your expectations clear. It may be that you're not 100% comfortable giving up too much control over your investment decisions, and merely want a sounding board. This guide from the World Economic Forum suggests three big considerations: "Who will have control over what investment decisions; how have different investments performed historically; your personal risk tolerance and timeline," it says.

Related: I begged my adviser to sell amid the market turmoil. He dragged his feet and I lost $20,000. Do I have any recourse?

Wealth managers generally serve high- (or ultra-high) net-worth individuals. "Wealth-manager advice delves deeply into estate taxes, income taxes, generational planning/trusts, and charitable planning in addition to traditional investment planning," says the Cooke Financial Group. "UHNW clients generally require significantly more assistance in these complex areas versus the larger group of middle class (sometimes called "mass affluent") and high-net-worth investors."

Given your involvement (and success) with your investments, you may wish to consider a fee-only financial adviser and/or accountant to look over your financials on an annual basis. There are all types of people who call themselves financial advisers: They may invest your money in ETFs and/or mutual funds, actively manage your finances and/or give you overall advice and not even touch your money. Bad advice does not always equate to disreputable used-car salespeople.

Ask your potential adviser: 'What is your investment philosophy? How are you paid?'

Furthermore, not all money managers are fiduciaries - professionals who have to act in their client's best interest under the Investment Advisers Act of 1940. Ask whether your potential adviser is a member of the Financial Industry Regulatory Authority (Finra). Certified financial planners have similar codes of ethics. Finra and the Securities Industry and Financial Markets Association (Sifma) are trade groups representing securities firms, banks and asset managers.

AARP's retirement calculator allows you to include many lifestyle factors. You can also ask your potential financial adviser/planner "What is your investment philosophy? What services do you provide? How are you paid? What do you charge? How do you measure success? Am I saving enough? What kind of unexpected expenses will I face? Would it make sense for me to work part time when I move to the U.S.? How long will our money last?"

These are good problems to have. Enjoy your new life in Silver Spring.

Don't miss: 'I fear a significant decline in the S&P 500': Do I sell my tech stocks before it's too late?

Check out the Moneyist private Facebook group, where members help answer life's thorniest money issues. Post your questions, or weigh in on the latest Moneyist columns.

Previous columns by Quentin Fottrell:

My husband, 73, is giving me a life estate in his home, yet leaving his son a $200K Porsche. Is this cause for divorce?

I have a $10K expense. Do I withdraw money from my investments or my high-yield savings account?

I'm 83 and will have $500K if I sell my house. My estranged wife wants me to join her in Colombia. Do I go?

By emailing your questions to the Moneyist or posting your dilemmas on the Moneyist Facebook group, you agree to have them published anonymously on MarketWatch.

-Quentin Fottrell

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November 17, 2025 07:46 ET (12:46 GMT)

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