Key insights
- The post discusses the dilemma of choosing between self-directed investing and using a financial advisor. The advisor claims to generate higher returns, but the poster is concerned about high fees. The decision hinges on the individual's investment knowledge, time commitment, and risk tolerance. The potential for higher fees and the advisor's value proposition should be carefully considered.
When I was 20 I opened and a Roth IRA with Edward Jones and maxed it out. 12 years later, I just maxed it out one more time.
I've just started making good money and said he can invest in stocks and other stuff for me in an individual account.
I told him I just opened a Fidelity account and put some money in there. 80%VTI/20%QQQ. I plan on doing that every month. Same amount of money each time.
He said that's fine but he can make me more money because he knows more about stocks and he's following the market.
Is it really better to go with him at Edward Jones? I've read the fees are high.
I kinda just want to leave my Roth IRA with him and do the investing on my own. But idk if that's just me being ignorant on how easy it is.
I'm not asking for financial advice in the sense of what to invest in. More about is it better to invest like this on my own or give money to a FA?