...we just need the rest of the cash! I am taking the time to do a little research before the tax refund comes in. Right now we have about $1400 in our Roth from an individual stock that we cashed in (I won't tell you how much we originally paid for the stock ). Anyway, we will have about $3k more once we get the refunds. Since we have already contributed $2k this year, the extra $4400 will get us very close to the max for 2006 (2 Roths), something I never thought would happen six months ago. Anyway, I have decided to put all of it into mutual funds - maybe one, maybe two. Just to figure out which ones now...
I am jumping off from a list I received last year from a financial advisor through my union (he did not sell them, his fee was paid for by the union, so I am comfortable that he was not pushing one over the other). The list (from Morningstar) shows 30 funds, their Morningstar ratings and categories (i.e. mid-cap, small growth, large blend...more terms that I have to become familiar with). It also shows their returns over the past year, 3 years, 5 years, 10 years, and 15 years. Looking at a combination of ratings and returns, here are a few that look good:
Alger MidCap Gr Instl I
Columbia Acorn USA Z
Davis NY Venture A
Fidelity Diversified Int
ICAP Equity
Vanguard Cap Opp Adm
Vanguard PRIMECAP Adm
WF Adv Sm Cp Val Z
Of course, I still have no idea what a lot of these abbreviations mean I also have to find out what type of category I should be in, since I am looking for long-term (30+ years) growth. But this is a "jumping off" point. I have heard a lot of good things about Vanguard, so I will probably look pretty seriously at one of their funds. I guess I also have to look for the no-load funds, which I don't know at this point which of the above are. Ah, so much to learn!
ready to invest
February 21st, 2007 at 03:07 am
February 21st, 2007 at 02:32 pm 1172068377
February 25th, 2007 at 12:14 am 1172362456
For example I own these funds:
prfdx
prwcx
rpmgx
prnhx
pridx
premx
and look them up on sites like this:
http://finance.yahoo.com/q?s=prfdx
http://www.morningstar.com/
http://fundalarm.com/
e-mail me if you need more assistance (I'd be happy to help).