Tebowed wrote:I realize I am young, so I am willing to take a high to extreme degree of risk. Any general advice for me?
Tebowed wrote: I also have contributed to a ROTH regularly since I was 18. This was done through a financial advisor. He has put all contributions in MDLOX -- a well regarded mutual fund, but a mutual fund nonetheless. There is a substantial load on this and seems to be a decent expense ratio. The ROTH account value stands at 48,000.
Tebowed wrote:Thank you all for the replies. I will get back to you all on the 150k, I think rolling it all over to Vanguard will be the plan. I probably won't get around to it until May when I can really sit down and figure out a comprehensive plan. I definitely will come here with the plan when I come up with it.
The capital gains point is a good one, I will slowly start consolidating in Vanguard (currently I am at Scottrade). I may leave open my Scottrade Account (or potentially another one with lower trade costs) for my more speculative investments to cut down on trade costs. I actually sold TRSGX today, and will use that money to open up an account at Vanguard down the line. I will start off with a 3 fund portfolio, and then potentially build from there. I also considered just doing a Target Retirement fund as a base, and then build from there. Anyone feel strongly about either strategy as a starting base (3 fund portfolio vs. Target Retirement)?
As for my ROTH, going forward obviously I will putting contributions into low cost index funds/ETFS. However, I am tempted to leave the amount I have in MDLOX there, since it has suprisingly outperformed the market for the most part over the past 10 years and I feel any gains from investing in index funds may be very small. Also, I've already paid the loads on the contributions (a sunk cost I know, but mentally it bothers me to get out after paying that). If anyone feels I should take it out of MDLOX and put it in index funds, I am open to that argument--I'd love to hear your arguments. Will there be any complications for getting rid of the financial advisor here? Or do I essentially take over managing the Roth, with it starting off in MDLOX?
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