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amother




OP
 

Post Tue, Apr 13 2021, 9:49 pm
I am wondering if anyone can help me get smarter. I am looking to invest money in a safe investment instead of having it sitting in a savings account. Where is a good place to invest and how do I go about it. approximately 30k.
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amother




Lime
 

Post Tue, Apr 13 2021, 10:26 pm
amother [ OP ] wrote:
I am wondering if anyone can help me get smarter. I am looking to invest money in a safe investment instead of having it sitting in a savings account. Where is a good place to invest and how do I go about it. approximately 30k.


I use an investment company. Portfolio strategies in Monsey. They take care of investing it in stocks for me.
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cat81




 
 
 
 

Post Tue, Apr 13 2021, 10:42 pm
amother [ OP ] wrote:
I am wondering if anyone can help me get smarter. I am looking to invest money in a safe investment instead of having it sitting in a savings account. Where is a good place to invest and how do I go about it. approximately 30k.


Low cost index fund
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HonesttoGod




 
 
 
 

Post Tue, Apr 13 2021, 11:17 pm
Get a financial advisor.
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EMEN




 
 
 
 

Post Wed, Apr 14 2021, 9:55 am
Open an account with fidelity and invest it in FZROX.
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doctorima




 
 
 
 

Post Wed, Apr 14 2021, 10:05 am
If you want to do it yourself, set up an account with Fidelity, Schwab, or Vanguard and put it in one or more index funds. If you want to pay a professional to do it, feel free to PM me for a recommendation.
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amother




OP
 

Post Wed, Apr 14 2021, 10:15 am
excuse my ignorance but can someone please explain to me the difference between index fund and mutual fund? What are the pros and cons to each one?
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amother




Seafoam
 

Post Wed, Apr 14 2021, 10:38 am
amother [ OP ] wrote:
excuse my ignorance but can someone please explain to me the difference between index fund and mutual fund? What are the pros and cons to each one?


When they refer to an index fund, it's a fund that follows the S&P 500 or another index like that.
A mutual fund can be an index fund. Or it can invest in a variety of other stocks - e.g. small cap, large cap, tech, etc.
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amother




Goldenrod
 

Post Wed, Apr 14 2021, 10:42 am
Vanguard has amazing low cost index funds. If you pay a professional, you'll lose a lot in fees. Do it yourself. Research the top index funds yourself.
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EMEN




 
 
 
 

Post Wed, Apr 14 2021, 10:44 am
Think of Mutual funds (and ETFs) as baskets of stocks. Different mutual funds focus on different things. You can invest in funds that have travels stocks, or a fund that has tech stocks etc etc
An indexed mutual fund has stocks that follow specific indexes like the S&P 500.
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amother




Pumpkin
 

Post Wed, Apr 14 2021, 12:28 pm
I am also looking to invest..and also confused about funds and stocks.

I'm busy trying to research but I feel like I'm going in circles. But I think what I did conclude with is this: Better to invest in an index fund than choose your own stocks, for long term, low risk investment. If you want to be risky and want to increase your money short term then try to choose your own stocks but then you need to really research and be on top of the market daily. or hourly.
IS that sort of correct?


I already opened an account with fidelity. Just not sure what to do next.
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EMEN




 
 
 
 

Post Wed, Apr 14 2021, 12:34 pm
Pumpkin, you're correct. Index funds almost always beat stock picking in the long run.
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EMEN




 
 
 
 

Post Wed, Apr 14 2021, 12:36 pm
amother [ Pumpkin ] wrote:

I already opened an account with fidelity. Just not sure what to do next.


Invest in FZROX. It's fidelity's total market index fund.
https://fundresearch.fidelity......5T708
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amother




Pumpkin
 

Post Wed, Apr 14 2021, 7:52 pm
EMEN wrote:
Open an account with fidelity and invest it in FZROX.


Can you elaborate why you are saying specifically FZROX and not any of the other funds?
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amother




Silver
 

Post Wed, Apr 14 2021, 7:54 pm
amother [ Lime ] wrote:
I use an investment company. Portfolio strategies in Monsey. They take care of investing it in stocks for me.
I use the same one! BH very happy, been with them for decades now.
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amother




Lavender
 

Post Wed, Apr 14 2021, 8:09 pm
amother [ Goldenrod ] wrote:
Vanguard has amazing low cost index funds. If you pay a professional, you'll lose a lot in fees. Do it yourself. Research the top index funds yourself.



Agree about Vanguard
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amother




OP
 

Post Wed, Apr 14 2021, 8:13 pm
what is the average return on these funds?
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amother




Lavender
 

Post Wed, Apr 14 2021, 8:19 pm
amother [ OP ] wrote:
what is the average return on these funds?


https://www.calculator.net/inv......html
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amother




Bisque
 

Post Wed, Apr 14 2021, 9:19 pm
we do it ourselves with vanguard. We spoke to a financial advisor and he admitted that my husband was getting a better return then what he tells his clients he can get them so it wouldn't make sense for us to pay someone. '

I had some family stocks managed by a family member in the business and they also didn't do as well. I think professionals often like to play it safe since clients will be really mad if they lose their money but you don't get as much interest playing it safe.
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bsy




 
 
 
 

Post Wed, Apr 14 2021, 10:22 pm
Do it yourself by paying for a subscription to investment groups. The motley fool is about 100 a year I think and the returns are much higher than the s and p
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