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Anvil dale | Do you think mutual funds is a good investment? |
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takuwan_199
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It's a great investment if these 3 main factors apply to you...
1) Your not completely knowledgeble in stocks, bonds, investing in general
2) You don't have a large amount of money to invest (Say less than $10000)
3) You are investing for the long term.
The nice thing about mutual funds is that it is invested in many things based on the fund. For example, it could be a Equity fund that invests in 300+ of the largest companies on the NYSE. Or it could be balanced fund that has government bonds and Stocks mixed together. In that regards, it is easier and cheaper to go the mutual fund route. You want to have a balanced investment. For example, if one stock goes bankrupt, your mutual fund probably will retain most of it's value for only a portion is invested in that company. If you were to purchase each different company shares, it would cost you a fee for each stock you purchase and it would be much more hassle keeping a track of. And if you were to just purchase one company's stock, there is a risk where it may lose it's value when it comes time to cash out the stock. Although many people are able to rely on one company for their retire, they tend to be the type who knows exactly what they are investing into, have other investments, or they absolutely know their investment is safe.
If you have a large amount of cash though, it is probably cheaper and better to invest on your own purchasing shares in your name. This way you avoid management fee (usually a percentage called MER. This is how much they charge when you go to cash the fund), have control of what you invest, and the fees per share won't be a large factor.
But most of us do not have that kind of money. Mutual funds are directed by professional investors hired by banks and financial companies. And they are usually very good at helping you determine a goal for retirement. I live in Canada and all the major banks have advisors that will take a look at your financial situation and help you to select funds that are suited to your needs. I follow stocks and if I did have money, I would purchase shares on my own. But since I am a university student and with limited income, my options to purchase shares are limited. I have invested with mutual funds at Scotiabank. Although I didn't listen to the advisors advice, it was helpful and gave insight to my investments. So far, the first 3 months, I have earned 24% on my investments. Pretty good.
If your the average joe starting to look toward retirement, I'd suggest you look into them. Try asking the local bank or a reputable financial institution. |
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bubba
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Yes, there are several advantages to mutual funds.
I think the biggest advantage is diversification. If you had, say, $100 to put into the stock market it would be hard to find several different stocks to put it into. But with a mutual fund, it could go into 30, 50, maybe even 200 or more stocks. Diversification helps to minimize risk.
Second, these funds are managed by professionals, that is their job. They would generally have greater knowledge and access to information than the general public.
Their are many different types of mutual funds. You can look at the historical performance of mutual funds. Many offer the opportunities to make higher yields than you can get in savings accounts or CDs. Keep in mind, however, that historical performance is not a guarantee of future performance.
There are many good sources of information about mutual funds. Money magazine, Forbes, Consumer Reports, and Kiplingers, plus others, all will give you excellent information. |
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nicealbanyguy
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No question that they are a good investment. The issue is which ones should you invest in. Any mutual fund that lost a law suite to Eliot Spitzer - current Attorney General of New York State and soon to be Governor - avoid them because they were caught in late trading where if you were only a person with a lot of money you could late trade but the expense of it was the burden of all the stock holders.
By the way I got rid of all of them
If you are young - invest in stock funds and funds that are in foreign markets - (no more than 17%) of your total investment.
Add money on a monthly basis so you can take advantage of something called dollar cost averaging. That is where you buy both high and low in the long run you will make money. If you are young avoid today's bond market.
My wife and I have been putting 10% of your income in mutual funds for 30 years and our investments have done well with Fidelity. I don't work for them but they are they honest mutual funds in todays market.
If you are young you will have to put 20% of you gross income into a mutual fund just to have enough money to retire on. You have been squeezed by the republicans with their SO CALLED tax reduction which only reduct taxes to the rick and increase your local taxes because the federal government gives less money to the state and and guess who will have to make it up [ Sadly it is you.
I am in my 60's and I believe the generation after me has hurt our young financially and the only way you can get out of it now it to put 20% of your gross income into and honest mutual fund.
I hope this makes you think about it some but I am telling you is the unfortunate fate that we have created for our younger generation a lowering of their standard of living so the wealthy can have more wealth at your expense. . Try buying a house and having a college education and raising children on something less than 80,000 - It ain't going to work .
This is from an older hippy of the 60s that fought in the streets to change the direction of government and it might be time to go back to peaceful but powerful power to the people but it is your generation that will have to do it. The middle class is being squeezed and you are it. |
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JBarleycorn
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Well, if you are going to invest in a mutual fund because someone on Yahoo Answers said yes - I would suggest you talk to a financial advisor. It all depends on your situation. |
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covertsnake
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yes, i invested with edward jones and my 1000$ 10 years ago is 3000 now |
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minus
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Investing money in anything is a gamble. Some are very high risk and some are very low risk so make yourself aware of that there is always the chance you will not ever se your money again. I have lost with such funds. I have gained with others though. |
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Robert E
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It depends on a lot of variables. It depends on what the mutual fund invests in (stocks, international stocks, bonds), how balanced it is, and if there are fees involved, what is your personal level of risk is.
Generally, over several years, a stock mutual fund should do well, provided the economy does well. If the economy heats up too much, and we get too much inflation, a stock mutual fund may not do well for a time. Reinvesting dividents will help too (if you have that option)
Hope that helps a bit. |
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Rob S
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Something to consider...
Like said earlier, if you diversify your portfolio it lessens risk. I believe for a well-made portfolio, you must invest in 30 different companies. They can be converted into RRSP's, thus deffering taxes (capital gains). And, if your not knowledgable in the field, or don't want to spend countless hours learning and developing yourself, let the money managers do their job building you great returns. And if you do lose principal, its recorded as a 'capital loss' (tax credit). So ignore that earlier post!
(just my two cents) |
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mbrcatz
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They're OK, but keep in mind . .. you pay maintenance and management fees on them, every year, regardless of whether they make money or lose money. And you can pay capital gains tax on them, also, even if they LOSE money for you. |
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