Not really: I've been buying mutual funds for a long time. I decided to let Frugal Son guide me, mostly because he doesn't have very much by way of investible funds.
So my first purchases are
PGH (a utility)
GE (you know, General Electric)
I did this through a Vanguard brokerage account, which Frugal Son helped me set up (actually, it's simple). I only pay $7.00/trade.
After witnessing the performance of financial professionals--with both my in-laws and now my mother--I figure I might as well trust the advice of my guy.
Needless to say, most of my retirement money remains in good ole index funds. I'll keep you posted on my progress--or regress.
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3 comments:
One of the things that's always confused me is the advice: Never put into the stock market more than you can afford to throw away. I currently invest the huge (ha) sum of £100/month; that's the most I can bear to throw away at a time. On the other hand, say you eventually have something like $10,000 in stocks...who could afford to throw that away? I know there are guidelines about selling individual stocks that you hold, say once they've doubled in value, even though they *might* increase further, but I've never read what one does with funds... Just hang on to them til you need or want the money? Does the advice about not putting in money you can't afford to lose just pertain to the initial investment (the £100 a month)? If so, why doesn't it also apply to the whole amount? Does any of your reading address this or am I just thinking about it wrong?
I'm afraid of figuring out the taxes for capital gains - hope your son is doing that for you!My savings is either in savings account with bank or credit union or in 401k or roth ira and both of those I have mutual funds - not that I understand those either but at least if one company tanks the othes may keep the fund stable.
susanna
This will be fun! My investments are professionally managed, b/c I'm an impatient person susceptible to acting on the most recent news. So I leave it to pros (who have done an outstanding job for 25 years) and admire your initiative.
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