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Invest in good growth stock mutual funds.
Dave talks about investing in good growth stock mutual funds. Where can I go to do this?
My work 401k/Roth has the simple option for me to put my money in the four mutual fund options Dave suggests.
I have a Schwab account but it doesnt give me that simple option. My Schwab portfolio was created by their intelligent portfolio which Im sure Dave would not like as I have no control over it. Schwab chose where the money gets invested in based on the amount of risk I was okay with.
So, where can I go to simply put my money where Dave suggests?
I would also recommend you do as Dave suggests and educate yourself on investing. You dont even need to involve an ELP or financial advisor, you have the entire internet out there. There are a lot of haters of Daves, but weed through everything until you get a clear picture of what you want from your money, and your risk level.
Learn what mutual funds are, expense ratios(super important!), fees and anything else you can until youre comfortable making that investment outside of what Dave says.
That all said, I personally dont follow his investing advice, but thats up to you to decide.
Schwab offers 184 commision free etfs on their site. These are very low cost and have no commision when you buy them. The following is just a very quick idea of a portfolio you can make yourself:
SCHA is your agressive growth, SCHF is your foreign stocks, SCHD is your growth and income and SCHG is your growth fund.
You just log on your schwab account and click buy investment and buy 1 share of SCHA for example.
Its easy and fun to do once you figure it out.
This is a list of the commision free options available to you.
Just wanted to add the advice i just gave you would not work for a 401k at your work. This would work if you opened up your own Roth IRA outside your work at Schwab.
For your work 401k your limited to whatever is available in that plan your boss selected when he made it.
And since i have no idea whats in there I cant help you with that other then to log on and navigate your plan, see what investment options are available and try to select funds that match the four areas.
Thanks for the info regarding Schwab! The 401k/Roth that my work offers allows me to allocate the funds myself. I was able to choose the four mutual funds Dave suggested, and they were named just as he said.
I have a Principle 401k through my employer. Everything was set on auto-pilot. I had to turn off the auto-pilot feature in order to see the mutual funds and pick them myself.
Schawb probably has an option to invest in growth stock mutual funds.
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