![]() |
#1
|
|||
|
|||
![]()
I recently asked a well-off friend of mine, what he does as far as investing his money. He is 27, co-owns a liquor store, and recently put down 20% (in cash) on a $360,000 condo. So I know he's got some money and probably is doing some investing with it. So as I said, I asked him where he invested. He said he had some online, but also had an account with Edward Jones.
All I really know about them, is that they offer a wide variety of American funds, and that my wealthy buddy is happy with them. I own some CDs, have a little money in HSBC, and have a 401K at work. That's my whole financial status right there. My buddy gave his agent my number, and the agent called me and is sending out some info. I am going to read over the info and research them some more, but I wanted to see if you guys recommended going through them as my first real venture into building a portfolio. Is it better to just buy some funds on my own online? I am a complete newb, which is part of why I am looking into the agent for help. But I also don't have a ton of cash to invest, so I don't want to spend too much on an agent, if doing it on my own is going to be much cheaper. Any thoughts on this? |
#2
|
|||
|
|||
![]()
Hey Dan-
I think if you are seriously interested in investing, then maybe you should do some research. Also remember, it doesn't matter which company you go with, there are good agents and bad agents with every company. Anyone can sell American funds, so go with an advisor who you know and trust or comes highly recommended. There are a ton of good threads in this forum that discuss how to start on your own as well. Good luck! |
#3
|
|||
|
|||
![]()
Heres What I would do. Go to www.vanguard.com buy the Total stock market index fund and the Total International stock index and then do an allocation something like 60/40 respectively. Game over.
|
#4
|
|||
|
|||
![]()
[ QUOTE ]
Heres What I would do. Go to www.vanguard.com buy the Total stock market index fund and the Total International stock index and then do an allocation something like 60/40 respectively. Game over. [/ QUOTE ] From reading these forums, this is something I have considered. I guess what I am trying to ask is - what is the advantage (if any) of starting up through an actual agent, as opposed to going it on my own? |
#5
|
|||
|
|||
![]()
[ QUOTE ]
From reading these forums, this is something I have considered. I guess what I am trying to ask is - what is the advantage (if any) of starting up through an actual agent, as opposed to going it on my own? [/ QUOTE ] By going through an agent, you can pay much higher fees to make inferior investments. |
#6
|
|||
|
|||
![]()
Ccheck out www.morningstar.com and go to the vanguard forum..ull learn a lot more about their options
|
#7
|
|||
|
|||
![]()
One thing you might want to remember is that a financial advisor's goals and your goals aren't necessarily the same. His/Her goal is to make money for him/herself and the company. Your goal is to make money for yourself. Some people might float around something about how financial advisors don't get paid unless their clients make money but this isn't necessarily true. Advisors generally get paid regardless of whether or not the clients (you) make any money in a given year. This isn't to say that an advisor is worthless. When I interned for a wealth advising group, they gave great advice on taxes and taking tax losses. I think they're great for that kind of thing, the ancillary issues surrounding investing and money management, but for straight up investing like you're looking to do there is no need to pay their fees.
I will agree with the excellent advice given above...head to vanguard.com and buy a few index funds. btw, from your post, it seems like you're a total noob to investing. if so, do some research. what you do with your money now will have a significant impact on your financial picture in 5, 10, 15 and 20 years down the road. it definitely pays (no pun intended) to understand the basics. |
#8
|
|||
|
|||
![]()
[ QUOTE ]
btw, from your post, it seems like you're a total noob to investing. [/ QUOTE ] Well, I have invested in CDs for years, and I have owned a couple individual stocks and some mutual funds in the past. But yes, I would still classify myself as a newb overall - particularly when it comes to anything stock/fund/bond related (anything more involved than a CD, basically). Thanks for the advice everyone. I will look into Vanguard and consider going into it on my own (after thorough research). |
#9
|
|||
|
|||
![]()
Would you invest today in a fund if you were 100% certain the price will drop 6% tomorrow? If not, don't buy A-share funds from "advisors" like this.
|
#10
|
|||
|
|||
![]() FEE BASED PLANNING!!! |
![]() |
|
|