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Anonymous asked in Business & FinanceInvesting · 6 years ago

Fidelity investment questions?

Besides fidelity that goes for other investment websites what accounts can one consider to open if they want to invest their money to eventually buy their first property or first condo after they graduate college

2 Answers

  • Sum
    Lv 7
    6 years ago
    Favorite Answer

    The best place is Vanguard Funds. The trick to this investing in funds is fees. All companies charge fees. Some are 2% or 3% and seem low enough - but year after year, the company takes a LOT of your money in fees. there's also a bunch of hidden fees down in all those funds (of a mutual fund) - you get to pay those too.

    Vanguard has many "unmanaged funds" - so there's no manager to pay. Their fees can be as low as .05%. These are Index Funds which mirror the operation of the whole stock market as closely as possible. and you get to keep more of your money.

    Get something quick and painless like "Index Funds for Dummies" - they probably have used copies on Amazon - and read through that. Also if you go on the Vanguard site there's a huge amount of investment information to read about. You start an account - and then you send them some money. You can perhaps just empty out your Fidelity account directly into the Vanguard cash account.

    Out of that cash account, you can buy shares of the Index Funds.

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  • 6 years ago

    I use to conduct business with T-Rowe price but i switched to vanguard due to lower fees

    Go with vanguard and i cant provide the type of fund because i do not know your time frame

    Best of luck

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