No. of Recommendations: 2
My gut is telling me I'd be better off with an index fund like VFINX... which has a lower expense and instead of trying to beat the S&P 500, it *is* the S&P 500.

Greetings h. Welcome to the Fool.

First of all, congrats on having an emergency fund and planning for your finances at your age. You should be very proud of yourself.

That said -- Trust your gut.

May I suggest that you look into opening a Roth at Scottrade. (www.scottrade.com) They have no account maintenance fees, no low-balance fees, and you can buy into Vanguard funds (yes, VFINX is an EXCELLENT choice) with no transaction fees. (The only caviat is that you must keep your money in the fund for 90 days or you will pay a $17.50 fee.)

The website is fairly user-friendly, and YOU are the one in control of your Roth, not a brokerage firm.

My personal opinion is to stay away from loaded funds with high expense ratios. I can't find WM Strategic Growth Portfolio on Morningstar, but if it's a B share, there's a load. What that means is that the brokerage you work for will be making money off of you investing in it.

I understand that you are getting your advice for free, but please realize that all commissioned brokers give advice for free. The way they make money is by selling you loaded funds (A shares = front load, B shares = back-end load, etc.) even if you aren't paying an account maintainence fee.

Please be cautious. I'm very glad you found your way to the Fool. My best advise, fwiw, like I say is to look into Scottrade and beware of any advise that a commissioned broker gives you. Chances are they are trying to make money off of you somewhere. They are, after all, salespeople.

Hope this helps.
Caat
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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