Quote:
Originally Posted by petsetc
My addition to all this good advice, take time to read Paul Merriman’s 3 FREE ebooks.
1. First-Time Investor
2. 101 Investment Decisions
3. Get Smart or Get Screwed (read this first!)
Found at paulmerriman.com
Also on his site are recommended portfolios for using Vanguard, Fidelity, T.Rowe Price or Schwab for DYI'ers. Much good info, ignore the puffery and sales pitches for his foundation.
I have used a blend of his Vanguard recommendations since 2005 and think that we have fared pretty well.
JMHO
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I would like to add to this. As I read the above and agree! Many many years ago I started a subscription to Fidelity Monitor and Insight as I knew I would be terrified about investing the money I was putting in the brand new IRAs. The newsletter tracks only fidelity funds (fine with me) and has “model portfolios” that at most hold 6 funds at a time. They rate all Fidelity funds each month and have commentary as well. I have definitely done better following their general advice than I would have on my own. I don’t strictly follow their model portfolios any longer. But I just did a thorough check up and review and made some minor tweaks. I have a CPA who is also an active and astute investor and he also periodically reminds me that “as long as you can do the math and make decisions regarding risk and returns, keep doing what you are doing. The mental exercise is good for you. And you get to keep the 1%”. Fidelity has great tools online to help you set goals and keep things in the balance you want. As does Vanguard and others. As someone else posted: do the math on 1.25% of your portfolio taken per year, compounded for 10-20 years and you might be happier with a handful of funds tuned to your risk tolerance. Kiplinger’s Personal Finance is another good resource.