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9/16/2019 10:09:13 PM
Posted: 3/28/2009 6:51:50 PM EDT
a few years ago, my wife and i started an AMERICAN FUNDS IRA. our financial advisor "advised" us to go with the B fund. She called tonight saying that AMERICAN FUNDS is dropping the B's and we have the option of moving to an A fund or moving to a different setup.

as i understood this. the B paid fee's later? and the A's pay fees upfront.

1- should rollover to the A.
2- Find a new IRA
3- Find another financial advisor

getting involved with an IRA is new to me, since before this, my hospitals carried 403B and had inside advisors that worked for us. and to be frank, in the past 2-3 years i didnt pay much attention to it, since i'm 38. i think i currently have $4500 in it.

any other advice would be appreciated, any recommended books would be beneficial as well.




Link Posted: 3/29/2009 7:20:15 AM EDT
Originally Posted By Labomatic:
a few years ago, my wife and i started an AMERICAN FUNDS IRA. our financial advisor "advised" us to go with the B fund. She called tonight saying that AMERICAN FUNDS is dropping the B's and we have the option of moving to an A fund or moving to a different setup.

as i understood this. the B paid fee's later? and the A's pay fees upfront.

1- should rollover to the A.
2- Find a new IRA
3- Find another financial advisor

getting involved with an IRA is new to me, since before this, my hospitals carried 403B and had inside advisors that worked for us. and to be frank, in the past 2-3 years i didnt pay much attention to it, since i'm 38. i think i currently have $4500 in it.

any other advice would be appreciated, any recommended books would be beneficial as well.






Why are you paying fees?!?!?!?

From your list, do 2 and 3.

Look at Vanguard, Fidelity, or T. Rowe Price for more information on no-load mutual funds.

For an advisor, look for a fee only financial planner.
Link Posted: 3/29/2009 7:30:44 AM EDT
[Last Edit: 3/30/2009 5:55:08 AM EDT by mags]
Bernstien/ "the Four Pillars of investing"/ " the coffehouse house investor"/ author unknown by me/ Jack Bogle has given his nod to a few books he wrote as a associated with Taylor Larimore and Mel Lindeaur authored/ Rick Ferri has a good book, Larry Swedrow has a good one too. I do not recall the names I read them long ago but "google the names I posted. look in your libraries 332. section.Good Luck! I agree with the above poster Taxphd go NO LOAD!~ I ETA read as many of Jack Bogles books as you can like "The death of capitalism" "Enough" There are 2 more IIRC I read them all decades ago and 2 new ones are "Enough" and ones on the presses due out this fall. Please read his assessment that basically you cannot BEAT the mkt, but ridding with it in a broad based INDEX fund will be you best stratigy if you've the time horizion of 20+yrs AND HE STARTED VANGUARD INVESTMENTS in 58" or 73" (Im not sure, maybe it took him that 15yrs to make a clean break) from his position in Fidelity as the wellington funds manager, if anyone was a maverick he was. Good luck!
Link Posted: 3/29/2009 10:47:57 AM EDT
thank you.
i'll look into these things.
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