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I'm Canadian, and just opened an account with QTrade. I'm going to start an RRSP now that I have been out of school for 18 months and I have savings as well as emergency money, spending money, etc. I've got $10,000 going into my account (I make ~50k/yr), and I'm wondering what the best way is to invest it? My first thought was 50/50 between two mutual funds - FID282 and CIG686... the former is canadian neutral balanced, the latter is global neutral balanced (though 60% canadian). However, now I'm wondering if I shouldn't go further and do 25/25/25/25 in four mutual funds. Is that advisable, or are these funds diversified enough that I can focus on two (or just one) for now? I'm not sure that CI High Income will return as much as it has, at least in the short term, but it seems like it would be good in the long-term. The Fidelity one seems like a good core fund. I'm really new to all this so I'd love to hear any thoughts at all  For what it's worth, I *may* pull it all out to make a down payment in a couple years... so I'm short-term risk averse
Guitarchitect fucked around with this message at 06:01 on Feb 25, 2011 |
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Feb 25, 2011 05:58
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For long term purposes is there a reason to be in Vanguard Mutual Funds over Vanguard ETFs? I'm asking this now because the discussion of VGPMX above got me wondering. For example at the moment I am in VAW as part of my IRA portfolio but is there a reason to be in VGPMX instead? The only reason I chose VAW over VGPMX was because of a slightly lower expense ratio and that you have to hold VGPMX for at least a year to not suffer a penalty on withdrawl (I am still in the process of determining my long term strategy and thought I may want to move things around). So, I guess my question has two parts, the general question ETF or MF for an IRA? and the specific VAW or VGPWX? Murgos fucked around with this message at 17:10 on Feb 25, 2011 |
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Feb 25, 2011 17:05
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Can someone talk me out of selling off my MRK in frustration? My retirement accounts right now are set up to be long term dividend plays on individual stocks, but I'm well diversified across industries. The only one that has killed me this last year is my Merck stock, it went almost nowhere last year and now just seems to get destroyed every time I look at it. I think the republicans will eventually kill/neuter or defund the health care bill, which (imho) is more bad news for pharms. I just really am no longer sure of the growth potential that I once saw out of them and was curious if anyone else had an opinion on the matter. (Note: This is all done in ROTH accounts for me, so taxes shouldn't be considered since the cash won't be leaving the accounts and will end up being reinvested.)
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Feb 25, 2011 21:02
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I have a question. This thread is awesome and I'm on board with the basic principle of passive investing. People aren't consistently smarter than the market and on a long enough timeline everyone falls below the average when fees are considered. I am trying to convince my life partner of this. She has ~$24k in a ROTH that is being managed by her parents manager. ("He's a friend of my father's"). I am concerned that she, and possibly her parents are getting ripped off. I don't really care what her parents do as it's not her money and has nothing to do with me but we are working out our finances now that we are both out of school and her statement just doesn't make sense. Her ROTH account looks like this right now: Money Account (43.67%, .05% yield) Mutual Funds (56.33%, .91 ER) -FGAFX (0.67%) 18% -BGRFX (1.32%) 5% -DNVYX (0.63%) 36% -JARTX (1.20%) 16% -LZEMX (1.15%) 16% -RYTRX (1.17%) 4% -WBIGX (1.45%) 5% First, this seems off the charts stupid for a 25 year old. Why, in holly loving hell, would she want almost half of her money making ~.05% for her in a money market account (and a lovely one at that!). She is not 89! Are there any resources I can use to really demonstrate that I am not trying to show her how to outsmart the market, and that the broker may not be such a great value. The more I sit here the more I am worried that this guy is just this side of Madoff and just collecting fat checks from ignorant people. I have no financial background (LAW) but this doesn't make any sense.
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Feb 25, 2011 21:05
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Anubis posted:My retirement accounts right now are set up to be long term dividend plays on individual stocks, but I'm well diversified across industries. You are doing this wrong. You are not diversified. You taking on loads of unnecessary specific risk by investing in individual companies. This is not the way you should be handling retirement accounts.
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Feb 25, 2011 21:05
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Murgos posted:So, I guess my question has two parts, the general question ETF or MF for an IRA? and the specific VAW or VGPWX? ETF's are fine, and in the case of any Vanguard fund that has a early withdrawl penalty (although it isn't technically a fee since it gets reinvested into the fund so everyone benefits from everyone else's payment of it), may actually be preferable to avoid that.
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Feb 25, 2011 21:07
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KennyG posted:Are there any resources I can use to really demonstrate that I am not trying to show her how to outsmart the market, and that the broker may not be such a great value. The more I sit here the more I am worried that this guy is just this side of Madoff and just collecting fat checks from ignorant people. I have no financial background (LAW) but this doesn't make any sense. I think it can be very hard to convice people of this without them doing research. You could explain the stats of ER being one of the few predictable things you can control in a mutual fund to get increased performance, etc, but I don't think that people who have been doing things like that will be convinced by just a random talk. A book is in order. The Power of Passive Investing lays out the most evidence I've seen for the subject. Read the first chapter to maybe see if it is something you could get her to read.
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Feb 25, 2011 21:11
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Chin Strap posted:You are doing this wrong. You are not diversified. You taking on loads of unnecessary specific risk by investing in individual companies. This is not the way you should be handling retirement accounts. Unless you are holding 50-100+ individual stocks, of course.
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Feb 25, 2011 21:12
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Chin Strap posted:You are doing this wrong. You are not diversified. You taking on loads of unnecessary specific risk by investing in individual companies. This is not the way you should be handling retirement accounts. I'm also very young and can afford that risk in exchange for better potential returns. Individual stocks will get slowly work their way out as I enter my later 20s/early 30s and should disappear from my accounts over about 10 years, leaving me a good 30+ years of more diversified modest investment. And saying that you can not be diversified while investing in individual stocks is really out there. Anubis fucked around with this message at 21:18 on Feb 25, 2011 |
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Feb 25, 2011 21:16
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Fuschia tude posted:Unless you are holding 50-100+ individual stocks, of course. If you get the right mix of uncorrelated stocks, maybe. It isn't just any 100 individual stocks does it. And unless you are A) in the multi million dollar range, and B) willing to spend a lot of time on it, there really is no real benefit to it. His goal isn't diversification in the traditional sense, he is explicitly trying individual stock plays, which is drat risky when it comes to retirement accounts.
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Feb 25, 2011 21:17
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Anubis posted:I'm also very young and can afford that risk in exchange for better potential returns. You don't get it. Unsystematic risk, aka diversifiable risk, is a free lunch. You can get rid of it by just owning the market. Lower risk with the same or higher expected returns. You are playing a stock picking game, which doesn't just carry market risk but also individual company viability risk. You'll get more advice in the stock picking thread if that is how you want to run.
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Feb 25, 2011 21:19
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Chin Strap posted:I think it can be very hard to convice people of this without them doing research. You could explain the stats of ER being one of the few predictable things you can control in a mutual fund to get increased performance, etc, but I don't think that people who have been doing things like that will be convinced by just a random talk. A book is in order. Thanks I'll take a look. It makes me sad/frustrated to see what looks like a giant ripoff and know that because of the topic you can't really convince them of that because investment advisers are [like] assholes.... I did find this... pretty hard to refute that a S&P 500 investment wouldn't have been 25% better over the past 18 months... 
KennyG fucked around with this message at 21:51 on Feb 25, 2011 |
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Feb 25, 2011 21:25
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How much do you guys consider 401K matching when comparing 2 job offers? I am expecting an offer on a position that will pay considerably better, but there is no 401k matching. My current position has 66% matching up to 10% of your salary. Currently I am contributing the full 10% to get all the matching possible, which equals out to around ~$5000, but I won't be fully vested for another 4 years.
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Feb 25, 2011 21:26
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three posted:How much do you guys consider 401K matching when comparing 2 job offers? Is the new salary higher than current salary + added dollar amount from full matching? Then take the new salary.
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Feb 25, 2011 21:28
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Chin Strap posted:Is the new salary higher than current salary + added dollar amount from full matching? Then take the new salary. It gets a lot closer if you compare the matching $, but I'm not sure that should be given full weight compared to cash-in-hand.
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Feb 25, 2011 21:31
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three posted:It gets a lot closer if you compare the matching $, but I'm not sure that should be given full weight compared to cash-in-hand. I guess it depends on your view of things. I think matching $ is worth slightly more than non matching $ to me, because I max out my 401k contribution and the more the company matches, the more money that is getting put into tax advantaged retirement accounts for me. If you aren't hitting the cap, then maybe the weighting will go the other way.
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Feb 25, 2011 21:33
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I see it as, in addition to waiting for 30+ years to get that money, you have to wait 4 more just to even get that money. I would put more stock in it if you were hitting the 16k with the match (or getting within ~8k) as you could use the match to get up over the 16.5k limit. 66% at 10% contribution = 5k means you are getting ~$12,500 into your 401k, but only contributing 7500 of 'your' money. To get to the same 12.5k in contribution you would have to contribute 100% of your money. Paycheckcity quick numbers for single living in VA you would need to have an offer that was ~8k larger to make up for the difference in your pay (adjust your withholding to 15% to get same take home pay). YMMV based on filing status and state residence. Edit: Yea, If you are solely comparing the financial compensation I would look at the vesting rate and probability of keeping the job. This should only be the smallest of tie breakers for the smaller paying job (If the difference is <~4 or 5k) The problem is that what you give up in 401k match you gain back in larger bonuses and generally being farther up the corporate/social ladder all else being equal. The match should not weigh that much on the scale. KennyG fucked around with this message at 22:23 on Feb 25, 2011 |
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Feb 25, 2011 22:03
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KennyG posted:I see it as, in addition to waiting for 30+ years to get that money, you have to wait 4 more just to even get that money. Missed the part about vesting. Yeah that definitely isn't a 1 to 1 comparison if there is a non-zero probability of losing the match altogether.
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Feb 25, 2011 22:15
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I'm stupid and should learn to read!
Ulf fucked around with this message at 23:18 on Feb 25, 2011 |
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Feb 25, 2011 22:59
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KennyG posted:First, this seems off the charts stupid for a 25 year old. Why, in holly loving hell, would she want almost half of her money making ~.05% for her in a money market account (and a lovely one at that!). She is not 89! The thing with 'personal investment managers' is that they're only a good idea if you have a large portfolio. Large portfolios generate enough income for the manager to warrant watching closely. Small portfolios are totally ignored. If it is indeed small you're better off managing it yourself and following a pretty standard allotment formula using ETFs or low cost mutual funds.
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Feb 26, 2011 00:49
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I'm looking to leave my job in 2 weeks or so, and I do not have a new job lined up yet although I have a few promising leads. Yes, I know of the risks involved in this kind of planning but I am moving out of state and have been doing what I can to call shops in that area and email resumes and such, and have a positive feeling about where I'm going. My question is that I've been with my company for almost 5 years, have a 401k with them, but when it comes to finances and stuff I completely do not understand them at all. I've found a couple things on google about transferring my 401k, although they all say into a new one and as I don't have one yet, I'm not sure what I need to do. Here's one of the ones I was looking at. http://www.ehow.com/how_2075549_transfer-401k-new-employer.html Oddly enough I trust goons if their advice seems good, so I'd be hoping someone in here might be able to maybe clear up my confusion.
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Feb 26, 2011 04:13
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If your new employer has a 401(k) plan, you can roll over your old plan into the new one (for free and easily done). If they don't, you may be able to leave the money in the old plan (some plans have minimums for this I believe). If not, or if you prefer, you can roll your 401(k) into an IRA. This is a personal tax-advantaged retirement account that you manage yourself. A Roth IRA works differently than your 401(k): you pay into it using taxed money (e.g., your take-home pay) but it is tax free to withdraw when you retire. A Roth IRA has other advantages over a 401(k), the biggest being that you have more or less total freedom about what securities you buy and hold in your Roth IRA. Most goons in this thread recommend a Roth IRA with Vanguard, because they offer very excellent fund options (with very low fees) and are easy to set up. The coolest thing is that you can roll over a 401(k) into a Roth IRA for free (no tax penalty). The main reason to use a 401(k) instead of, or in addition to, a Roth IRA is: employer matching (if your employer matches contributions to your 401(k), that is "free money" you are giving up if you don't participate) and the contribution limits (the limit on how much you can put into a Roth IRA each year is relatively low: If you are under 50 years of age at the end of 2011, the maximum contribution that can be made to a traditional or Roth IRA is the smaller of $5,000 or the amount of your taxable compensation for 2011. So if you are socking away more than $5k a year for retirement (and you probably should be), once you've maxed your Roth IRA, even an un-matched 401(k) is better than just cash in a bank or stock brokerage account (because it is still tax-advantaged). So, tl:dr; you may be required to roll over. Whether you are required or not, it is probably to your advantage to roll over. You probably don't have to do it immediately but if you are required to, you probably have a set time period to do it and your old plan should mail you info about that.
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Feb 26, 2011 04:54
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Alright, I just got my tax return back. This puts my bank account at 2800$. I've already got 1100$ in my Roth IRA waiting to be spent, so I feel like I can safely take 1400$ out of my account and purchase a mutual fund. Could I get some advice on choosing a mutual fund? I'm 23, so I plan on having my money in there for a while. I'm also not very familiar with Fidelity's site, so it would also help if one of you knew where to go to browse funds. The only place I know to go is Fidelity's favorite fund list.
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Feb 26, 2011 18:07
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You'll need to clarify a bit there or I don't think anyone will be able to help you, or maybe I'm the only one confused. You have $2800 total in cash and $1100 in your Roth IRA. Are you going to be contributing some of that $2800 to the Roth IRA? Are you looking for advice for how to distribute that $1100 in your Roth IRA? Or do you want to invest into a non-retirement account? The $1100 in the Roth IRA isn't really "waiting to be spent" unless you mean where to invest it to meet your retirement goals.
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Feb 26, 2011 18:15
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How can I start a college fund for my baby nieces? Does it have to be made in my brother's name, or in theirs (or mine?) I know that California has a plan of some sort managed by Fidelity but I do business with Vanguard who also have one.
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Feb 26, 2011 19:47
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Dick Trauma posted:How can I start a college fund for my baby nieces? Does it have to be made in my brother's name, or in theirs (or mine?) I know that California has a plan of some sort managed by Fidelity but I do business with Vanguard who also have one. 529 in your name, with niece as beneficiary. CA has no tax break so there is no incentive to use the Cali plan as a Cali resident. So feel free to use the Vanguard 529 plan (a Nevada plan) or other good plans like Ohio.
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Feb 26, 2011 19:51
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1) As a foreigner living/working in the US, does it make any sense for me to use an IRA or max out my 401k (I currently put in enough to max out employer contribution)? Basically at any point I can get kicked out of the country at the whim of my employer, which means I'd have to pull that cash out from my retirement accounts as I'd have no way of growing it any further. Is it still more profitable to invest in an IRA and pull out before retirement age (thus paying all of the penalties) than it is to invest through a regular broker with full taxation? 2) For someone interested in long term investing into index funds, it appears that Vanguard Admiral Shares are a pretty good deal, but it looks like I cannot invest in that from my Etrade account. Do I pretty much have to open a vanguard account for that? DreadCthulhu fucked around with this message at 23:39 on Feb 26, 2011 |
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Feb 26, 2011 21:46
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I've been reading the thread on a off for the better part of a few weeks now and I've started my own 401k through work recently. My current work place matches my "acceptable" contribution by 3%, then 50% for the last two; so currently they are taking out 5% out of my paycheck each month. They have a nice little set up where you simply place when you want to retire by (2050ish) and they buy the funds for you and I can check on the rate of return through their website. It's pretty cool, so far its a 6% return year to date. Anyway, I'm hoping to open a Roth account but I'm a bit confused on which fund I should be placing my money in. My 401k is with Fidelity (I had no choice in this), but I'm currently looking a Vanguard since it's been recommended by fellow Goons here multiple times. The choices they give you are a bit overwhelming and I don't even know where to start. I'm planning to max out the new account for 2010-2011 and then when May roll by, I plan to max it out again. How do I know which one to place my money into?
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Feb 27, 2011 01:34
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Just start with their Target Retirement 2050 fund for now. Later on, if you decide you want to play more of an active role in your asset allocation, you can always move the money around.
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Feb 27, 2011 02:00
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Lyon posted:You'll need to clarify a bit there or I don't think anyone will be able to help you, or maybe I'm the only one confused. I was planning on contributing 1400, making 2500, which is Fidelity's minimum for investing in a mutual find. I was asking for advice on how to choose a specific mutual fund to invest in. That said, I'm still open to suggestions for other ways to invest the money; I've just always heard mutual funds were the most stable for long-term investment.
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Feb 27, 2011 02:12
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obi_ant posted:I've been reading the thread on a off for the better part of a few weeks now and I've started my own 401k through work recently. My current work place matches my "acceptable" contribution by 3%, then 50% for the last two; so currently they are taking out 5% out of my paycheck each month. They have a nice little set up where you simply place when you want to retire by (2050ish) and they buy the funds for you and I can check on the rate of return through their website. It's pretty cool, so far its a 6% return year to date. What do you mean by "acceptable"? You are talking about a Lifecycle or Target Date fund. They are very popular because they are a sort of set it and forget it option but they tend to be a fairly high expense ratio relative to the options that are available. It's a great 'just get started' option to park your money into until you figure out what you are doing, but you may want to look into setting up your own options with much lower expense ratios. The Fidelity 2050 fund has outperformed the average of 2050 funds over the life of the fund, but with only a ~5 year track record that isn't a great window for 'forget about it' investing. Fidelity has a .84% ratio according to CNN money. That's not as bad as some, but a comparable fund from Vanguard is .19%. This means that for a typical period, all things being equal, Fidelity has to do .65% better to break even. This can be seen in their 1 year, 3 year and lifetime averages as they are both about the same age and the Vanguard does about .5-.7% better each year, which stacks and by the time you look at the lifetime outlook that has amounted to over 2% advantage. KennyG fucked around with this message at 03:57 on Feb 27, 2011 |
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Feb 27, 2011 03:47
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KennyG posted:What do you mean by "acceptable"? Thanks for the advice guys, I'll more than likely put my money into the 2050 fund, since it's very similar to my 401k and it's what I'm currently used to. Sorry, I didn't know of a better term. There are a few criteria for my 401k, supposedly it cannot be more than a certain percentage of my pay. Also I can only add up to a percentage of my max hours that I've gotten for the past two weeks (we get paid bi-weekly). It's a bit confusing, but my contribution each paycheck to my paycheck is different and my average of what I've worked year to date.
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Feb 27, 2011 04:04
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DreadCthulhu posted:
If you're getting kicked out of the country and not planning to come back, I don't think there is anything stopping you from sending all of the money home without paying any penalties. It'll only catch up with you at tax time?
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Feb 27, 2011 16:05
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sanchez posted:If you're getting kicked out of the country and not planning to come back, I don't think there is anything stopping you from sending all of the money home without paying any penalties. It'll only catch up with you at tax time? That's why most of them have to withhold it over a certain amount. Milton Freedman is way ahead of you.
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Feb 27, 2011 20:24
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Hey guys, I have a quick question. I have about $1500 dollars ready to begin my retirement savings. It looks like the Target 2050 fund would be the best for me at Vanguard. However, I know it needs a $3,000 dollar minimum opening deposit. Should I just hold on to my money for a few more months to save up that point, or is there another fund I can start at Vanguard for less? If there is another fund, could I move my money to the 2050 fund later? How does that work? Thanks.
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Feb 27, 2011 23:50
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This post is a long time coming, I think this is probably the right thread to help me get my mind right for long term savings, appropriate ways to balance allocations and help me with general thoughts on emergency savings, etc. My general philosophy is indexing with a bit of play money to trade individual stocks should I feel like. I try to keep the portion of the play money pretty small and it is mostly focused on value investing with a couple of oddballs thrown in there. Relevant personal information: Male, not married but in a long term relationship. Marriage probably in the cards in the next year or so. 26 years old, reasonably solid job with pretty good job security. What do I have currently: Assets: pre:Category Market Value Current ROR Cash in Checking and highly liquid savings $6,500 0% Online Savings Account $34,000 ~1% 401k $76,100 Market Roth IRA $7,400 Market General Brokerage Account $68,000 Market I have about 20k worth of student loan debt via low interest rate (4%) governmental loans. I make a little bit over the monthly payment on those and they are being whittled down. Looking at my accounts, I am pretty happy with my 401k split which is all 0% fee index funds. My allocation is: 13% - Company Stock 28% - S&P 500 Index 28% - Some value index 31% - International index It is a bit high with Company stock because I bought a swack of it at a pretty low price a while ago and its up like 25% over the past 6 months. Goofed the intended allocation quite a bit. I have since scaled back contributions to Company stock and when the other areas catch up it should be closer to 5% of the total holdings. I feel even 5% is quite a bit and that number will likely drop as the years go by. Any comments on the above 401k split? I am wary about the US economy hence the high international weighting. Maybe I should start allocating some money to the bond fund in the package? Regardless I plan on contributing the maximum yearly contribution to the 401k for the rest of my life. Due to the income cap, I can no longer contribute to a ROTH because of some international assignment tax help that gets reported on as earned income on my W-2, needless to say without being able to contribute more money I plan on letting that sit in a couple of index funds and ignoring it for 30 years or whatever. Maybe I can buy a car with it when I retire or something. My non-retirement long term savings is where I need a little bit of guidance. We don't really see purchasing a house in our near future because my job requires we keep some location flexibility. With that in mind, I have tried to keep a reasonably healthy cushion in my online savings account in case of an emergency but I honestly have no idea if the $34k is enough or if I need to put more money in. The brokerage account is split as follows: 52k - BSV - Vanguards Short Term Bond Fund 7k - Misc. Stocks - Basically my fun money for investing 8.5k - Cash I parked the cash in the bond fund while I figured out what in the world I should be doing with some of this extra money. With no significant foreseeable expenses in the next 5-10 years I would like to make the money work a little harder for me. Does anyone have any thoughts on an ETF portfolio they would recommend thinking that the money would likely need to be available in 5-10 years? Given I have other safer assets could I take on more market risk or am I better off just leaving it in the bond fund until the next crash? I don't know if I am just paralyzed by analysis but I am certainly gun shy after the most recent downturn. I basically have no idea what to do with the brokerage account and don't know if I am exposed with my current allocation to any risk I am not seeing. Any general advise or help would be greatly appreciated.
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Feb 28, 2011 00:24
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skrike posted:It is a bit high with Company stock because I bought a swack of it at a pretty low price a while ago and its up like 25% over the past 6 months. Goofed the intended allocation quite a bit. I have since scaled back contributions to Company stock and when the other areas catch up it should be closer to 5% of the total holdings. I feel even 5% is quite a bit and that number will likely drop as the years go by. Any comments on the above 401k split? I am wary about the US economy hence the high international weighting. Maybe I should start allocating some money to the bond fund in the package? Regardless I plan on contributing the maximum yearly contribution to the 401k for the rest of my life. Why are you holding any company stock at all? Is there an employee stock plan of some kind that's giving you a lower than market price?
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Feb 28, 2011 00:40
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Vanguard's online information says that one key difference between their money market funds, and their brokerage account (where you can buy ETF versions of those same funds) is that in the brokerage account, the funds are held in Vanguard's name (not yours). Does this mean that if Vanguard goes bankrupt you're out of luck?
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Mar 1, 2011 04:07
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You are still covered by the SIPC up to $500k in case of fraud or insolvency. Think FDIC for brokerages.
Ulf fucked around with this message at 05:34 on Mar 1, 2011 |
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Mar 1, 2011 05:22
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This isn't a retirement question per se but I hope it still fits with the thread - My Money Market account at the bank has something like a 0.15% interest rate. I looked around for high yield savings accounts but the rates were around 1% i.e. still below inflation. Would I be better off using any money I would put into a savings account to buy shares of an index fund through a traditional brokerage account so I can earn a return above inflation but still have access to the money if I need it? Or is that insanely risky and short-sighted? It's just frustrating to know that any money I put in the bank is losing value over time.
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Mar 3, 2011 05:25
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