Anyone know about it? Good, bad or ugly. Financial advisor said would be a good mutual fund account for me to invest in.
Anyone know about it? Good, bad or ugly. Financial advisor said would be a good mutual fund account for me to invest in.
2008 Ranger 178VX
150 Yamaha V-max
GO Fins!!!
I think the fees are to high. I like Vanguard Index Funds. I am just average Joe but have owned both and had better luck with the index funds.
American is a very large mutual fund company--much of which is coming directly from investors' employers in 401K's. I too would be concerned about the annual cost of the funds, and would avoid paying more than .7 basis points for any mutual fund.
My last monies were in three diversified ETF's that were purchased through Fidelity at .15 basis points--very low costs. ETF's are essentially index funds of index funds.
I actually did pretty good on the ETF's before withdrawing the funds to invest in a foreclosure bought substantially below market value.
I know that I have probably made another mistake, but I took the money out of my four American funds and parked it in their money market fund. I did this about 3 or 4 months ago, so I'm sure it has cost me quite a bit to do this. I wanted to reduce my exposure to the markets until after the election. I felt that I had too much exposure for my age (73). I have done well with American funds over the past 30 years though.
Most brokers will try to sell you at least $100K of American Funds using a discount up front to get you in.
What exactly do you want to know? Chances are you will be put in A shares and get smoked with front end loads. Also, a lot of their funds have gotten so big that you are basically just buying the index but pay more for it. For example, look at Growth Fund of America (AGTHX) the beta for this fund is 1.0 when compared to the S&P 500. So, it is basically the index but you are paying for active management. Good luck.
Big commissions for the financial advisor. EJ?
YesOriginally Posted by jcdogfish
2008 Ranger 178VX
150 Yamaha V-max
GO Fins!!!
EJ is the wal-mart of the investment business.
please don't take advice from this forum
Why not?
Reply With Quote