Just finished getting off the phone with ING. They hold my traditional IRA account. One of the funds in that account will mature on June 15th. I had to make a decison on what to do with the funds. Since it really didn't make to much of a gain since inception(2002)I have decided to invest the 15,000.00 in that fund into a new fund. The new fund that I chose was the Fidelity Contrafund. Morning star rated it pretty highly with a fairly good outlook. So, I am keeping my fingers crossed and hoping that it does well. There were other funds in my porfolio that just weren't living up to expectations, so, I reallocated them as well. So, Fidelity Contra fund starts on June 15th and the new funds start after 6pm tonight. The money for these two new funds came from a Money Market account inside my IRA that was performing so poorly at 0.4%. This was established back in 2002 by the banks finacial advisor. Now that I am more knowledgeable. I can't believe that the advisor put me in such poor funds. As of today I do not have any of the original funds that I had started with. And the only time I hear from this advisor is when she is trying to sell me something with a huge upfront load. No thanks!
Changes in my ING Account
June 6th, 2007 at 09:16 pm
June 6th, 2007 at 09:26 pm 1181165192
June 6th, 2007 at 09:51 pm 1181166685
June 7th, 2007 at 04:27 am 1181190466
June 7th, 2007 at 04:59 pm 1181235575
June 11th, 2007 at 12:53 am 1181523199
Another blogger has a way to get rid of financial advisors. He asks to see their last filed tax return, telling them them he'll hire them if they had a better year than he had. Gets rid of them every time.
June 11th, 2007 at 01:31 pm 1181568715
That's very funny and very good advice at the same time.
Thanks!