Need to find a new investment firm

[QueenIsabella]

You need to spend more time on those forums. There are a lot of long-term posters who are professionals in various financial fields. And many are non-professional, but are long term, experienced investors. You can review their posts before you make a decision on their reputation. Moderation is strict and swift. I trust the forum at bogleheads.

I think you have formed the opposite opinion of what bogleheads is actually about.

I was going to say--doesn't sound AT ALL like Bogleheads! Those "random people" making investment opinions are basing it on knowledge and decades of experiences. And they don't always agree. I will say, Bogleheads posters tend to be (a) very conservative in their investments and recommendations (by this I mean, how much to save for retirement, for example--not necessarily politically conservative), (b) have a higher net worth than most, and (c) tend to see financial questions as "catnip"--they love that stuff. They really dig into the minutiae of financial choices--in some cases, to the point where a normal person's eyes would have glazed over.

 

[mom2febgirls]

I looked around on that site it mostly seems like a forum where random people can offer investment opinions. Not sure I would consider the random opinions of strangers to decide how to invest. Some may have ulterior motives to hype some stock in a modern day version of the age-old pump/dump scheme. Think you will also find a lot who are out there talking up the next big thing. Those pushing bitcoin have largely seen the air go out of that balloon and have probably moved over to hyping up things like AI as the next big thing.

Part of what your pay a financial advisor is to do the research for you and provide sound investment approaches that work for the long term. Chasing the latest hot new thing isn't the way to achieve long-term success with your portfolio.

There is a whole lot of information to read outside of the forums. I rarely read the forums. I set up my 3 fund portfolio and just let it grow.

 

[DLgal]

This just happens to be Edward Jones lol

Shocking.

Not.

The people who work at EJ are NOT people you want managing your money. It's such a scam. They actively recruit former military members with absolutely NO financial experience and "train" them how to be financial advisors (a.k.a. salesman). All they are after is commissions. They don't care about how your money performs.

In the future only use FEE BASED financial planners. Do not ever pay someone a percentage of your portfolio.

DIY in Vanguard or Fidelity. Choose a date based option for your Retirement accounts (Roth and Trad IRA). Choose Mutual Funds/ETF's for your other investments. I like the Vanguard Admiral Shares in VTSAX (mirrors the overall stock market as a benchmark). It has returned 20% YTD and averages 8% over time. It's a solid investment.

For your educational funds, if you need them in the next few years, I'd switch them to a High Yield Savings account or CD with a guaranteed 5% ish return. If you have more than 4 years until you will need ALL the funds, stick them in a 529 and choose the most aggressive option. It's a shame you never started a 529 for the kids, as all that growth would have been tax free when used for qualifying expenses, which have grown in scope over the last several years. You can still open a 529 now, to take advantage of tax free growth moving forward. I'd do that, personally. We use Future Path 529 (formerly Upromise). It has been a phenomenal investment for us.

 

[ambgoph]

I looked around on that site it mostly seems like a forum where random people can offer investment opinions. Not sure I would consider the random opinions of strangers to decide how to invest. Some may have ulterior motives to hype some stock in a modern day version of the age-old pump/dump scheme. Think you will also find a lot who are out there talking up the next big thing. Those pushing bitcoin have largely seen the air go out of that balloon and have probably moved over to hyping up things like AI as the next big thing.

Part of what your pay a financial advisor is to do the research for you and provide sound investment approaches that work for the long term. Chasing the latest hot new thing isn't the way to achieve long-term success with your portfolio.

I posted earlier in this thread about bogleheads.org. You need to start learning by reading the Wiki: https://www.bogleheads.org/wiki/Getting_started

Learn about their investment philosophy before jumping into the forums. Bogleheads don't believe in get rich quick schemes.

 

[_19disnA]

Likely some people offer good advice on that boglehead site someone previously mentioned. Some of the threads like these two examples simply appear to me to be random people offering their personal opinions about specific investments. Novice investors might confuse this with official advice from experts.

 

[QueenIsabella]

Likely some people offer good advice on that boglehead site someone previously mentioned. Some of the threads like these two examples simply appear to me to be random people offering their personal opinions about specific investments. Novice investors might confuse this with official advice from experts.

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Using that logic, one might think that the DIS is all about "Songs with the word 'forgive' in them" and being excited about the Barbie movie. Like any other site, you have to pick the threads that are interesting or valuable to you. Personally, neither of those threads are at all interesting to me, so I didn't read them. OTOH, I'm close to retirement, so I do read many of the retirement threads. But, that's me, you might be interested in other things.

 

[Sportypyro]

Yes, it's tough to see your kids' college fund stagnating like that. Rolling over your IRAs to a new firm should be pretty straightforward, and you can usually find firms that specialize in helping people like you make that transition without penalties.

For the kids' money, putting it in a CD or a high-interest savings account could be a solid option if you’re looking for stability. Just check if there are any withdrawal penalties with your current investments before you make a move. I had a similar experience a while back when I felt stuck with my investments, and it pushed me to explore new avenues. I even found some great content that offered solutions to starting a small business. If you’re thinking about that route too, look at this site for some good ideas and resources. It might open up some new paths for you.