Hi guys I went to Bank of America and the financial advisor recommended me to have some money in CD and some in money market and some in fully managed Merrill lynch account. I have never done this and wondering what you guys think ? TC: 200k
Bank of America rates are shit tier! Look at capital one
Bahahhahahahahaha
High fees for you and commissions for the financial advisor at Merrill Lynch or BofA. Go the self investing or robo advisor at Fidelity, Schwab, or Vanguard.
Voo and retire. F the money managers
Get out
Google: bogleheads , portfolio charts, fire community and vanguard low cost index funds. Bonus: “jack bogle the bet” See you in 10+ years.
Don’t do it
Just talk to an advisor and make your own decisions. Why listen to people with zero financial licensing experience on blind? They don’t know your situation. They don’t know how you will need to use your funds in the short or long term. They don’t know estate planning or do lending or anything. Like why do people hop on blind before even having a conversation with a professional? The conversations are free. They don’t charge you to get a consult.
scam -- what are the fee?. Just put it in VOO or VTI and you'll come out ahead