Quote:
Originally Posted by VisualEcho
I guess the general consensus here is that I learn how to trade myself, instead of paying Edward Jones to do it for me because the percentage they take is almost all of the profits. Am I getting that right?
|
For the typical investor (sub $2M in assets) absolutely. I'm telling ya, buy 90% in a low fee S&P 500 index fund like the ones from Vanguard and 10% in a bond fund. Simple as that. When the DOW is up 5% so are you. When it's down 5% so are you. There's nothing to manage. Over time, you will beat any managed account.
Using Vanguard is crazy easy and when it comes to tax time, your tax forms from Vanguard easily import into most any tax software.
Time in the market is key. Fire and forget. Just remember to add. Once you get to around $300-500k, you can start diversifying into other things like quality stocks. Until then, set a goal of $300k in investments and buy a home and pay that off as quickly as possible. Real estate is a solid asset in most cases.