I’ve just read like 5 , and I’m still in the dark as to exactly how I should invest my . I’m thinking or but I’m not sure exactly what to do to get started. Maybe talking with an advisor or a banker or somebody could help, but they all cost don’t they? or atleast give biased advice?

What should I do, all my is just sitting in my checking account crumbling to inflation as we speak!

 

  • El Guapo 1:03 pm on April 18, 2010

    If you’ve read 5 books, you have a good foundation. You are right, a professional financial advisor will charge you – either an hourly fee or commissions on your fund purchases. And, you are also correct that they may give biased advice, especially if they are commission-based advisors (they will only recommend load-funds).

    No-load fund companies can answer many of your questions, but they will not be as "full-service" as a full-time advisor. As long as this is LONG-TERM money (all of your books should have covered the reasons for this), and you’re comfortable enough to do it on your own, I would say just pick a good no-load company that has a broad selection of funds, low fees and great customer service. My favorites are Vanguard, T. Rowe Price and Fidelity. You really can’t go wrong with any of these – check out their websites, then call the toll-free number of the one you like best.

    Starting out, you should invest in an index fund – either an S&P 500 fund or a Total Market Index. This will be a good "core" fund that you can later supplement with other funds as your account grows (you should be adding to it on a regular basis).

    Remember – don’t freak out when (not if) the market goes down. This happens from time to time, and you should view it as a buying opportunity – shares are "on sale," and you can now purchase more shares with the same amount of money. Also, study after study has shown that WHICH fund(s) you choose has much less impact on your investment performance than your investing habits – it is much more important that you invest early & often, and [again] don’t sell when the market dips.

    I hope that helps. Good luck!

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  • shivkumar_kalra 1:03 pm on April 18, 2010

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