sweetcarolineisme
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 26 Jul 2006
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| Mutual Funds???? |
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I have money sitting in Cds for like ever...I want to invest in some mutual funds, everyday it sits there I lose $
I have a good working knowledge on what I want, but have an issue with how to choose a good investment broker/company, Suggestions most appreciated!
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Wed Jul 26, 2006 11:36 am |
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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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| Re: Mutual Funds???? |
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quote:
Originally posted by sweetcarolineisme
I have a good working knowledge on what I want,
Then use a discount broker; I use Scottrade.
"Expect me when you see me."
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Wed Jul 26, 2006 12:08 pm |
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efflandt
Senior Member
Cash: $ 80.45
Posts: 401
Joined: 25 Apr 2005
Location: Elgin, IL USA
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Is this IRA's or taxable money? If you know what funds you want, you can shop around at discount brokers and see what they have, preferably with no transaction fees for many mutual funds or reasonable trade fees if you may want to play around with stocks and other equities. You should be able to find a broker with no annual or monthly fees.
One thing that is sometimes hard to figure out while shopping is what they pay for idle cash. For example the core cash at Fidelity in a retirement account (FDRXX) is currently 4.87% 7-day yield compounded to 4.99%. But in a taxable account, the core FCASH pays a lower unadvertised variable rate based on balance (you have to ask). You can stash idle cash in a known money market fund for better return, but have to pull it out before the close, the day before you want to invest it.
Dollar cost averaging into funds (instead of all at once) can help if you are uncertain which way the markets will go. Some funds I bought in early May are down, but money added to them on down days in May and June is showing positive results and softened the blow.
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Thu Jul 27, 2006 12:48 am |
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