New DIY Investor - Help Correcting Primerica Mistake

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SergeyM
Posts: 1
Joined: Thu Jan 09, 2025 8:12 pm

New DIY Investor - Help Correcting Primerica Mistake

Post by SergeyM »

I'm fairly new to DIY investing. End of last year I went down the rabbit hole of YouTube financial videos, now I'm on my sixth book on the subject (Inducing Bh Guide).
About five years ago I set up investments with a Primerica guy, 401K->IRA, Taxable account and a 529. Since learning more about investing I've been evaluating what's in my different accounts and I see that all of the Primerica stuff is high expense, high front-end load, mediocre tax ability and not well diversified. It's rather frustrating too see, I'm sure I missed out on a lot of growth.
I'm planning to pull the funds from Primerica to my Fidelity account. How should I go about improvising my investments? I don't want to just start selling and buying because i will probably take big tax hit.
I have a meeting set up at a local Fidelity office.

I will greatly appreciate any advice?
-SM

Edit per suggestion -
All are front-end load, mostly 5.5%

Taxable Primerica
Symbol --- Type --- Expense+12b-1
SLMMX --- Tax-ex Bond --- 0.97+.15
SHMMX --- Tax-ex Bond --- 0.7+.15
SBLTX --- Tax-ex Bond --- 0.64+.15
FRDPX --- Dom Stock Fund --- 0.85+.25
FRBSX --- Dom Stock Fund --- 0.92+.25
FHYQX --- Tax-ex Bond --- 0.83+.25
FKGRX --- Dom Stock Fund --- 0.8+.25
FKDNX --- Dom Stock Fund --- 0.83+.25
FBDIX --- Specialty Fund --- 1.06+.25
LCLAX --- Dom Stock Fund --- 1.45+.25
SOPAX --- Dom Stock Fund --- 1.02+.25
SHAPX --- Dom Stock Fund --- 0.93+.25

Trad IRA Primerica
Symbol --- Type --- Expense+12b-1
SASMX --- Dom Stock Fund --- 1.18+.25
LCLAX --- Dom Stock Fund --- 1.45+.25
SBLGX --- Dom Stock Fund --- 1.05+.25
SHAPX --- Dom Stock Fund --- 0.93+.25
LBGAX --- Dom Stock Fund --- 1.35+.25
Last edited by SergeyM on Fri Jan 10, 2025 7:23 am, edited 1 time in total.
WeakOldGuy
Posts: 1014
Joined: Mon Jan 01, 2024 10:42 pm

Re: New DIY Investor - Help Correcting Primerica Mistake

Post by WeakOldGuy »

Read this:
viewtopic.php?t=6212
post your current situation here and folks can give you some feedback.
On investing; I have lots of questions, many opinions, and little knowledge. A dangerous combination. Be warned.
jimkinny
Posts: 2094
Joined: Sun Mar 14, 2010 1:51 pm

Re: New DIY Investor - Help Correcting Primerica Mistake

Post by jimkinny »

First, do not do anything until you learn more.

Do not let the Fidelity sales person sell you anything. Fidelity has good index funds but they will try to sell you more proifitable funds.

Read this 3 fund portfolio thread. viewtopic.php?t=88005

Take your time. Ask questions on this forum. You might take a look at the funds used by Vanguard in their target date retirement funds. these are fund of funds. Fido has similar but Fido also has actively managed retirement funds which I would avoid. Look at the expense ratios. Cost matter. Invest in a tax efficient manner. Keep it simple. Do not try to beat the market, many try and many fail.
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