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Overheard & awkward conversations
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Sounds like he's financially motivated in his recommendation. I wouldn't.
Actively traded / actively managed ie with a personal / financial adviser often costs more than passively placing them in etfs in verticals or geos you belive in. Or just index funds. He's a sales man; and his earning is you.
1. Don’t apologize, we’re all always learning from each other
2. You probably put in just enough money to meet the minimum for a managed account or personal financial advisor. Maybe leverage him to get a second opinion on your goals and portfolio split.
3. It doesn’t make sense to move your 401K to an account you just opened. If you’re happy with your returns at Fidelity, leave it there.
I am pretty pleased with the results - haven’t had to do a thing and I’ve seen great returns!
Apologies for the simple question, but I’m a first gen college student and cannot ask family for advice.
Chief
Depends on what holdings / expense ratios you have in your 401k. I have an E*TRADE IRA and hold QQQ in it.
Not sure why you would park 25% cash, invest it all. Unless by cash you mean mutual funds to diversify.
Yep, MF.
Don’t roll your 401k. Keep your traditional IRA balance at 0 if possible. Contribute to a Roth IRA. You can probably open one at e trade.
Chief
I like to roll my 401k because I like control. You should wait 2 years until you are more comfortable managing your IRA.
I’m not confident in my investing skills yet to fully manage the 401k balance. I was hoping they had robo investors - similar to what I assume is happening at fidelity.