Do people normally invest money in managed funds? I have been working for 6yrs and investing in stocks through Robinhood. This is my first time that the market has slumped so much and it made me think if investing in managed funds is a good idea or not? I have been contacted by Chase and Fidelity representatives but it is giving to choose between their offerings. The Fidelity representative went MIA but he was to share some investment offerings they had. I hoped Fidelity will have plans with great returns compared to Chase. The Chase representative is proactive and shared couple of suggestions. They look good but not sure if Fidelity will be a better choice long term (wrt overall experience, not just the returns) Would like some advice.
I have a managed Fidelity IRA where majority of my net worth is. Fees are around 1.3% based on value . I have been with them because I am not sure about managing the IRA on my own . I would like to know what others do in this scenario.
That’s highway robbery. Manage it yourself. Search bogleheads three fund portfolio for an idea of a simple portfolio. If you want to set it and forget it then there are various roboadvisors like Betterment, Wealthfront, etc that charge 0.25% but not sure about their IRA products.
How are the returns?
General advice if you're not willing to spend tons of time analyzing stocks is to just put your money in low cost total market index funds. If you want to gamble, set aside some play money, an amount that you're willing to lose completely. Beyond that, try to understand your risk tolerance. What would you do if you lost 20%, 30%, 50%?
I am ready to go aggressive a little at my age. Wouldn't low cost market index funds give conservative returns?
It's easy to say "I want 20-30% every year" as long as they're positive. The question is how you will handle it (psychologically) if the market is up 10-15% and your managed fund is down 30%? Or the market is down 20% (like it is now) but you are down 50%? Because if you're likely to panic, lose sleep, sell everything, or change strategy. You shouldn't take on more risk. Most people overestimate their risk tolerance.
General advice, JPM is horrible in asset management. Only reason they have that size of AUM is becuse of distribution.
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I have worked at TikTok US core tech for 3 years. AMA.
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