Poll of the Day > Managing your investments/401k

(+) Yeah! (+)

https://www.youtube.com/watch?v=mOCvylOLQVs

For a long term investment, just pick a mutual fund that invests in a broad range of companies and industries, like the companies of the Dow Jones Industrial Average, the S&P 500, the NASDAQ Composite, the Russell 2000, or the Wilshire 5000 Total Market. The broader the scope of the fund, the more insulated you are from individual companies problems. You just need to be aware of what kinds of companies each of those indexes represent; the Russell 2000 is all small companies, while the 30 companies in the DJIA are among the biggest (Microsoft, Amazon, Disney, Walmart, etc), the S&P 500 is all large companies, and the Wilshire 5000 covers companies of all sizes. The NASDAQ is heavily technology-biased. Small-cap stocks tend to be more volatile, large-cap tends to be more stable.

If you're investing in the short term, there are ETFs (Exchange Traded Funds) that behave like mutual funds but are traded like stocks. Instead of having to buy 30 different stocks to mimic the DJIA, or 5000 to follow the Wilshire 5000, with the trading fees for each and every one of those transactions, you only have to buy one ETF and pay one transaction fee.

I do, although I have been thinking of hiring a financial advisor. Last time I talked to one, it was a free service from my company when they laid me off. He said I was in pretty good shape, but I should probably consolidate all of my old 401Ks into a Roth IRA. Since then though, I have 2 more 401Ks (so 3 total now plus my current one) and opened my own Roth IRA. So having someone manage all of that probably wouldn't be a bad idea.

BUMPED2002 posted...

My ex brother-in-law manages my investments and 401k because I know very little about investing.

??? It's not that hard. You pick a vanguard retirement fund date and dump money in there. BOOM YOU'RE INVESTING.

https://investor.vanguard.com/investment-products/list/all?strategy=all_in_onehttps://gamefaqs.gamespot.com/a/forum/8/839e31d2.jpg

This is probably what most people do when they say they "invest."

If you have someone managing your money they're either gonna blow it all or some shit while charging you ludicrous amounts. You COULD get lucky and make bank, but TDFs are the safest way to invest while working and having a more secure retirement.

The only other option you have if you want to invest in the stock market which is proven to double like every 7-10 years or so is to take an ETF of the S&P 500.

INB4 People say invest in SPY, consider doing VOO or IVV if you want that ETF. The expense ratios of the latter 2 are like .05% less than SPY. So you save in the long run. Regardless investing in SPY is still good because it's better than nothing.

If you REALLY want to invest make sure you save a nice chunk of change for your future self before gambling on stocks and hoping you win the money lottery. At least you know you'll have a future then, rather than no future.

Im in the vanguard 2050 fund. Lets gooooo!!!

Your mother is my financial advisor.

I lost everything.

Financial advisor.