[USER]

Am I doing ok or do I move my money? Through an advisor in 2020 I started a Roth IRA and a mutual fund.

I login to Capital Group American Funds to see my accounts, make contributions. I don’t hear from the advisor.

Paperwork says 1% fee but in other places says up to 2% so I’m confused but looking at fees on my account it appears to be 1%.

Mutual fund: $2000 initial purchase, added $3000 in 2022. Value is at $6550.

Roth IRA: total contributions 2020 to date $32,000. Value of account $45,000.

Is this a good return? Should I be paying 1% for the rest of my life because someone did a one time setup?

[Robert]

Here is my take on these “Financial Advisors”….if those dudes (and most of them are guys) could really make money FROM money; would he be working a job?

No, he’d be sunning himself on a beach in Brazil, sipping margarita’s and boffing bronze-skinned babes.

(Not to offend anyone, but just being realistic).

There is enough information out there, in both books and periodicals (when I grew up, we did not have Mr.

Internet) to where you can educate yourself and be your own advisor.

Dump all your money into a fund that mimics the S&P500 (like I did back in 1993) and forget about it for the next 30-25-40 years. You will thank me at that time.

[Sandy]

Returns are probably ok, but you’ve used a salesperson- not an advisor. You could probably go without the sales person by just doing a little research on your own

[Jule]

Those are not good returns considering the stock market has returned over 60% combined for the last four years.

Take your money and roll it to Fidelity to invest in a fund that tracks the total market like FXAIX.

[Ludmila]

Financial advisor is good to have you and your partber on the same page and they monitor your accounts and rebalance your portfolios.

This is good if you are very busy sometimes and can miss things like Silicon valley bank.

If you only do mutual funds or index stocks and you have a lot of time before retirement then you probably wont need your financial advisor.

[Mac]

We all start somewhere and for many of us it is with a financial advisor.

It takes time to and effort to learn bout the market and how it works and so these individuals serve their porpoise.

Once you feel like you can ride without the training wheels, pop them off.

[Aaron]

No reason to pay any fee just to invest in mutual funds.

[Author]

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