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Should I sell Tesla while it’s up 6% today?
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Does anyone put money into CDs anymore?
Rising Star
Here we go again.
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Just invest yourself - VTI
They are likely not going to put you in inexpensive index funds. They will put you in expensive actively managed funds. Unless you think you can’t do it yourself, I can’t imagine paying them for that. I do all my investing myself
Please do it yourself.
VOO and QQQ.
Using JPM as your brokerage is fine as long as you do the self-directed option and pick funds like VTI with lower fees.
Vanguard offers a similar service with only a 0.2% (or maybe it was 0.25% can’t remember) annual fee (assuming you don’t want to set it up yourself as others have suggested)
Unless you have millions and can get into financial engineering with a best in class advisor or exotic opportunities not available to Joe Public, just dump it in the market yourself.
Thank you all. What would you recommend outside of S&P 500? What platform should I be using?
For long term investment, just do VTI (or VOO) for US stocks, maybe VXUS if you want international exposure. That's all, keep it simple. Always keep an emergency fund in an HYSA.
Vanguard, Schwab, TD will all offer low fee or fee-free funds that will outperform whatever garbage that advisor was trying to put you in. Look for a total stock market index. Also check out the personal finance Reddit
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Fixed assets?
DIY
Rising Star
https://www.bloomberg.com/news/articles/2022-12-09/retail-traders-lose-350-billion-in-brutal-year-for-taking-risks
Low cost index funds are the way! No sense in paying a financial advisor to try and beat the index.
What ROI is he selling you?
I'll advice you do proper research yourself and go through the options available to you.
You could go the HYSA route or CDs, Jumbo CDs is beginning to get popular these days with crazy ROI.
Do proper research. Or buy the dip with a fraction of your capital while you research(if you don't mind the risk). Hey, with great risk comes great reward.🤷🏻♂
I’ll give a hot take here. People in this bowl are well intentioned - VTI and VOO are great low expense index funds and large bank advisors do have a history of sticking folks in more expensive products and never talking to them again. However, VTI and VOO are both large domestic blends as stated on their website. There will come a time when these segments underperform, as large caps have this year, which tends to draw investor attention towards the newest thing.
Hiring a fiduciary can be beneficial to many people who are not cut out for the mental game of investing. It can be excruciating at times and cause people to make the worst financial mistakes of their lives. Having a trusted advisor you can speak to goes along way, especially when they are proactively reaching out regularly, not just when things are bad.
If you don’t want to research funds at all, doing something like a roboadvisor might be a good, low fee way to set and forget your money.
I find balancing between a few etfs to be tedious and I’m inconsistent at it so having a hands off approach helps me behaviorally
Why is everyone in this bowl so focused on only domestic stocks? Get international exposure through a combo of VTI and VXUS or just put it all into VT.