No. of Recommendations: 0
jp sez:

>>now that you've found 'us', check out the rest of the site and start eductating yourself about the Market while paying off that debt... so that eventually you can liquidate the Fund and invest in something more profitable...

I sez:

I could not agree more. Look closely at that mutual fund's prospectus. I already knew that about 90% of the mutual funds UNDERPERFORM the market, but I was surprised that my brother's mutual fund returned 29%. However, further reading into the prospectus revealed that 29% was BEFORE fees and other deductions, reducing the returns 19%. What's so pathetic is that I almost believed the fund was really performing that well and possibly Tom and David were wrong (yeah right). The mutual fund made that 29% nice and bold and in an easy-to-read table right at the beginning of the prospectus. If Tom and David had not taught me how to read balance sheets and the like, I would have missed the god-awful returns that fund was providing. We're way off topic here, but if you want someone else investing your money for you, you might consider an index fund.

I basically agree with everyone else about your debt though. Maybe liquidate some of the fund to pay off some of the debt, but then move the fund over into either an index fund, foolish four stocks, or four or five obviously great investments (MSFT, KO, GAP, etc). But don't go on margin! yikes!

Darryl
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement