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Okay, so I talked with the CPA at Edward Jones. Here are a few things that he told me:
-There is $17k in an IRA account, plus $843k in non IRA accounts, and no 401k accounts.
-He charges 1.2% commissions.
-My mom had about 2/3 in mutual funds and about 1/3 in individual stocks. He's recommending a similar portfolio for me.
-He estimated that I would probably earn an average of approximately 5-7% per year.
I'm not sure that I like the part about paying commissions, and I'm not sure that I like investing so much in individual stocks. So I'm thinking that I might transfer it to someplace that only charges a flat fee.
dpow, regarding your IRA account - it is somewhat common for full service brokers to charge an annual $ or % fee on your IRA. I'd explicitly ask him a follow up question on this to find out if there is some separate IRA fee. If there is, that is another reason to transfer it to a place like Fidelity or Schwab.
dpow, in your post #153 you indicated that you would were going to let your sister help you with your investments. Why are you still posting in this thread?
dpow, in your post #153 you indicated that you would were going to let your sister help you with your investments. Why are you still posting in this thread?
You think I should stop learning about investing just because my sister offered to help set up my account? I'm not sure if I understand your question.
Yes, I understand. But, what "assorted" Fidelity funds are your favorites? I know about your Reaper and not sure if you use BRK-A or BRK-B or both (is BRK-B okay for us little people)? Your funds flash through hundreds of posts and I should have written them down (and then I think I can go back and remember where I saw it). At one point I did print a thread with your portfolio (at the time).
Do you know if you can do fzdxx in a cash management account?
all fidelity money markets can function as a cash mgmt account if it’s linked to a core money market .
they automatically pull from any other money markets in the account if you run dry ..if you look at a balance available for the account it’s one total for all money markets
as far as exact fidelity funds i own i am not allowed to disclose what’s in the current fidelity insight models since we pay a subscription fee for that information as well as do change from time to time with swaps
i don’t use the golden butterfly anymore if that was what you are referring to as i don’t post the exact make up of the insight models
other than to say one portfolio is an income model with 25% conservative equity funds , another a 60/40 growth and income fund for intermediate term money .
i am allowed to show older models that they post as samples though but they are not representative of current models
i use brk/b
Last edited by mathjak107; 02-05-2024 at 01:22 AM..
as far as exact fidelity funds i own i am not allowed to disclose what’s in the current fidelity insight models since we pay a subscription fee for that information as well as do change from time to time with swaps
I know we've discussed this before but thanks to MJ I subscribed to their Newsletter about 5 years ago and also follow their recommendations.
Anyone with Fidelity who is semi serious about being an informed and better investor should spend the money. It's educational and well worth the cost. It has really helped to stay on track through these Covid years and roller coaster market.
I know we've discussed this before but thanks to MJ I subscribed to their Newsletter about 5 years ago and also follow their recommendations.
Anyone with Fidelity who is semi serious about being an informed and better investor should spend the money. It's educational and well worth the cost. It has really helped to stay on track through these Covid years and roller coaster market.
i can put portfolios together in my sleep but i have used them since 1987 to keep me from myself .
i can easily be a dirty lil market timer . although without good results usually.
left to my own devices i would always be contemplating my next move and second guessing the last move .
so by allowing them to control that my actual core portfolios take 15 seconds a week to manage to read a weekly up date .
nothing else to do investment wise except read articles from the best researchers to just learn more or to experiment outside the insight models with a relatively small amount
Last edited by mathjak107; 02-05-2024 at 03:07 AM..
i can put portfolios together in my sleep but i have used them since 1987 to keep me from myself .
i can easily be a dirty lil market timer . although without good results usually.
left to my own devices i would always be contemplating my next move and second guessing the last move .
so by allowing them to control that my actual core portfolios take 15 seconds a week to manage to read a weekly up date .
nothing else to do investment wise except read articles from the best researchers to just learn more or to experiment outside the insight models with a relatively small amount
Yes, I caught you in the act before -- LOL. The problem is that a lot of "the market" is a machine and we cannot match wits with a computer.
all fidelity money markets can function as a cash mgmt account if it’s linked to a core money market .
they automatically pull from any other money markets in the account if you run dry ..if you look at a balance available for the account it’s one total for all money markets
as far as exact fidelity funds i own i am not allowed to disclose what’s in the current fidelity insight models since we pay a subscription fee for that information as well as do change from time to time with swaps
i don’t use the golden butterfly anymore if that was what you are referring to as i don’t post the exact make up of the insight models
other than to say one portfolio is an income model with 25% conservative equity funds , another a 60/40 growth and income fund for intermediate term money .
i am allowed to show older models that they post as samples though but they are not representative of current models
i use brk/b
Is there something that compares your Fidelity portfolios with just basic etf's - like the total market and such?
I know we've discussed this before but thanks to MJ I subscribed to their Newsletter about 5 years ago and also follow their recommendations.
Anyone with Fidelity who is semi serious about being an informed and better investor should spend the money. It's educational and well worth the cost. It has really helped to stay on track through these Covid years and roller coaster market.
hand holding can be important…i know for us in 2008 it was pretty scary….previous drops had no where near the amounts involved that we did by 2008 .
we had just bought the house in the poconos in 2007 and were contemplating early retirement there .
we were already selling off our real estate investments so our portfolio grew by leaps and bounds
so not only did we have a lot invested but we were considering retirement when 2008 struck .
luckily we just toned down in 2007 from 100% equities contemplating an early retirement after we bought the house .
we decided to put our trust in the newsletter so making that call to bail wasn’t something we had to decide and was on our shoulders…
that kept us invested and if we didn’t talk about 2008 , balance wise today we would have never remembered it happened.
so having someone else call the shots can be helpful when you don’t know what you should do .
hind site is great , but when you are living these events with no idea of the outcome the decision making can be very very stressful when it’s on you and our brains hate losing money so our decisions are usually bad ones in these drops .
what a nice about the newsletter is that not only do you have different portfolios but they guide you with a few different ways of utilizing them in a plan depending if you are an aggressive investors , middle of the road or conservative
Last edited by mathjak107; 02-05-2024 at 03:37 AM..
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