My Medical Device Sales Career
As some of you know I am a Stock Position and Swing Trader (my hobby) AND heavily involved in managing my own finances successfully now for several years. I am always looking for resources that I feel are valuable to those that do not have time to learn how to manage their own hard earned money (like when I was a AVP at Tyco or RVP at Smith + Nephew)!
First and foremost if you are in a MUTUAL fund you need to GET out of them...unfortunately I know many of you are bound by a 401K from your current employer where that is ALL they offer, so you have to pick the best from the rubble. Remember that a no load mutual fund has OTHER charges called Admin fees...ask about Admin fees..if your broker or people handling your 401k say they have a no load mutual fund..ASK what is the Admin Fee. You see they make 1% to 2% REGARDLESS if your 401K's goes down in value..they just make 1% to 2% on the smaller total account value. In other words they make money on your money REGARDLESS if your fund goes up or DOWN (don't you wish you had a job like that?). A great deal right? Yep...for them!
If you can get into ETF's that are index funds (they follow the market) and those that also shed a dividend too...go for it. I think those funds are great for those of you who don't actively manage your money...which I think is a majority of the Members at the Linda Hertz Group due to your busy occupations. At a later date I will post ETF's that do just that...pay a dividend.
I found some links from a December 26, 2010 LA Times "Money Talk" segment that provided Financial links you may want to try for FEE only Financial Planners. They should charge an hourly rate and they DO NOT MAKE money off your investment (and they shouldn't from the backside either...being paid from a fund they are promoting). If a Planner advises a Mutual Fund...or an Annuity: GET A NEW Financial Planner!
I hope this helps you as you plan to invest your savings and plan your future retirement..whether that is 5, 10 or 20 more years away!
I found some great links for ETF (Exchange Traded Funds). Again, I am just a hobbiest, but I feel ETF's tied to indexes are so much better and low cost compared to Mutual Funds. Here are some resource links I picked up from a recent read:
http://finance.yahoo.com/etf This Yahoo one is GREAT! It explains ETF's, rates them and current value/returns!
I understand from this read that there are really only 9 or 10 companies that offer ETF's.