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Money and Finances
Reply to "Managing own money"
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[quote=Anonymous]If you are fine with how your money is currently allocated across funds, it's just a matter of figuring out how the websites of Fidelity and TIAA work to keep it up. Adding new money to an IRA or a nonretirement account is a few clicks, and you can just allocate it to funds in the same proportion as your existing assets. If you have no idea what funds are appropriate, etc, then you should just locate one or more low-fee index funds tracking the S&P 500 or a broader index and put money there. This will almost certainly have a higher return over the long run than a managed approach in which you pay fees to an asset manager, or in which you pick individual stocks or high-fee funds. This is very likely to be much simpler than you are making it out to be, which is a good thing. You absolutely can do this yourself. If you want to learn a bit of the theory behind this, "A Random Walk Down Wall Street" is a good, accessible read, but there are many others.[/quote]
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