OK, /boz/, I've been working a couple years now and would like to become more responsible with my money. Every year I've put about 5k into a Roth IRA account with the broker/financial advisor that my parents use. If I'm only purchasing Vanguard index funds, is this a bad idea? Is there a way in which I can do this with lower trading and management fees since I'm just buying index funds?
I want to take a hands-off approach to investing and minimize the expenses that would eat into my fund growth.
bumpy for interest, 'cause I want to pick an etf but dunno which one.Try vanguard.
>>1108257
>is this a bad idea?
Yes. You're literally paying an advisor for nothing. Kudos on being smart enough to go with index funds, but you're giving up probably 1.0-1.5% annually in fees to an advisor who provides absolutely zero value.
Open an account at Vanguard and transfer the IRA there. Tomorrow.
>>1108560
Thanks. So I can just open an IRA account with Vanguard?
Sorry, yes, I am this stupid.
>>1108588
Yup. Also Vanguard will help you over the phone with it all for free. They're pretty great.
Not OP but similar question.
Would like to put 5k into a mutual fund or ETF but unsure what the best way to go is. Will also contribute monthly instalments. Im looking here
Etf
https://www.vanguardinvestments.com.au/retail/jsp/investments/all-products#/etf
Managed
https://www.vanguardinvestments.com.au/retail/jsp/investments/all-products#/retail
Thanks biz
>>1108590
Or is it better to do a combination of these?
Bump, bit retarded with vanguard funds
>>1108257
Buy Ethereum
>>1108257
Vanguard High Dividend Yield ETF (VYM)
https://personal.vanguard.com/us/funds/snapshot?FundId=0923&FundIntExt=INT
That's all you need
>>1108910
Thanks I'll give it a look. I generally just buy the Vanguard S&P index funds.
>>1108590
>Would like to put 5k into a mutual fund or ETF but unsure what the best way to go is
Go with the Target Retirement Fund to start. Later, when you have more saved, you can consider switching to a "Four Fund Portfolio."
>>1108910
Stop with the dividend meme fund. We're trying to have a serious discussion here.
The High Dividend Yield Fund is a perfectly fine fund, per se (I own it myself). But it is not a core fund, and it would be stupid to concentrate your investments in any single asset class, including this one.
