No. of Recommendations: 1
At just 8% that $230 would be worth about $2,300 in 30 years. Add another $2,300 next year and the year after that and the year after that and so on and the amount really adds up.

A better use of the $230 might be to take a class at the local community collage on financial planning(not stock picking) so that she would feel confident enough next year to pick her own funds. Over the next year she could "park" her money in something like the Vanguard Stock Market index fund then move it next year is she wants to.

For what it is worth I have decided that other than by shear luck, it is unlikely that I will pick one of the rare funds that will do better than an index fund over the long term so I am mainly sticking with index funds because of the low costs which is one of the few things that I can completely control.

Greg
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.
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.