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So, I think I made a few stupid newbie investment mistakes, but I'm ready to own up to them and try to fix the situation. Earlier this year, I invested around $9000 in SEP retirement money from 2007 in the Fidelity Independence Fund (FDFFX). At the time, it was 5-star rated and looked decent (despite high expense ratio .9% -- mistake, I know). Anyway, now, I'm down 50% and I want to know, do I ride this out and hope for some sort of recovery or should I bail from this fund and try to diversify the remaining money? I'm turning 27 in January so I don't need it anytime soon but I would like to try not to lose it all. I know the market is lovely right now so everyone is down but it seems I got whacked worse than most. Fidelity has a $10k minimum for investing in index funds so I couldn't do that at the time and I'm not sure what I'm eligible for right now with only around $5000 to invest. I would prefer to be a more hands off investor so if there is a good route to go with that in mind, it would probably be best. Thanks in advance for any advice.
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Dec 18, 2008 16:02
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| # ¿ Apr 29, 2024 12:52 |
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I have a bunch of money sitting in my fidelity cash reserves right now. When do I throw it into mutual funds? I see the market is down substantially today and although I won't need to retire anytime soon, I'd rather not loose a large chunk of my principle by jumping on the rollercoaster when it seems there might be a lot more ups and downs coming soon. I know this is a ridiculously open-ended question and no one can predict the future but I'd be happy to hear your thoughts.
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Jun 15, 2009 19:09
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My brother has 4 shares of Pepsi that he got as a Christmas gift 10 years ago. How would he go about selling those?
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Jan 9, 2010 20:52
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He's got the actual certificates in hand.
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Jan 11, 2010 14:40
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Thanks 80k, I'll let him know. I was hoping it wouldn't be too difficult.
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Jan 12, 2010 02:10
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