10-02-2021, 08:09 AM
(10-02-2021, 07:19 AM)rayray Wrote: ok, this was kind of quick.
i recently moved some money around from selling some funds--built up cash position to 210k--maybe lost about 100k on paper in the market--redeployed about 80-85k.
of the cash 52k was a forced sell because i inherited a IRA that couldn't transfer from edward jones to fidelity
edward jones was the first encounter i had with a firm that you as the investor literally has no control on your investments--the process is arcane at best.
I had a friend who worked for them and he showed me a few accounts he had recently set up for customers. It was a fee generating scheme. $100K invested in about 10 funds. If you new nothing about investing at all you'd be MUCH better off spending an hour on a Boglehead video and buying a couple index funds than paying them fees for decades.