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I'm thinking of parking my money in one of these mutual funds for 4-8 years?

September 6th, 2010 | | Tags: , , | 4 Comments | |

computerscreen

I really only have 650 to invest so i cant diversify. So i thought i would buy a .
CGMFX
MCHFX
FICDX

Anything you hold, or plan to hold?

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4 Responses to “I'm thinking of parking my money in one of these mutual funds for 4-8 years?”

  1. gosh137 Says:
     September 6th, 2010 at 10:26 pm

    Click on msn.com, then click on Money in the white box. Put in these fund symbols and on the page that comes up for all 3 you will find:
    Minimum Initial Purchase$2,500.
    way more than your $650. Try a Cd at your local bank.

  2. Simplified Financial Says:
     September 6th, 2010 at 10:26 pm

    First, if you do not have emergency money separate from this that would cover 2-3 months of your expenses then do not invest in any of them.

    Second, speak to a licensed investment specialist to help you determine what your goals are. These funds are not well diversified if they are the only investments you have. One is primarily invested in Canada, one in China and one in primarily one sector of the market. Any one of them could have good returns but it’s the mistake of "all your eggs in one basket" and every one of them has the potential for wide fluctuations in value.

    Third: there are hybrid funds that do a better job at diversification for someone just getting started.

    Be cautious of your choices, consider where you are getting your recommendations and do a little more research to protect yourself….please!

  3. jlf Says:
     September 6th, 2010 at 10:26 pm

    Have you checked the minimum investment for these funds? Most require $2500-$3000 to open an account.

  4. louis Says:
     September 6th, 2010 at 10:26 pm

    Actually you can diversify. You can get some excellent fund ratings at morningstar.com. Check out the link below it can help you in your position.

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