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OT: I need to buy a few mutual funds. Please give advice !!

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Old 01-16-2002, 10:29 AM
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Cool OT: I need to buy a few mutual funds. Please give advice !!

Any tip on a good mutual fund? I want to get one for my 6 mo old and a couple for me and the wife. Any advice would be great.
Thanks,
Rick
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Old 01-16-2002, 10:47 AM
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Try the money magazine website. They have a lot of useful information on choosing what is right for you. They have a Money 100 list which is a good starting point of funds to look at.

I find it most convienent to stay with one "fund family" even if you want several different funds. Different fund companies have different min investments. Most offer automatic monthly investment plans.

What is right for one person may not be right for you or your kids. Ultimately, you need to choose based on your personal risk tolerence, investment goals, tax needs, age, and budget.

One thing to look at for the kids would be an education IRA, since that will give you some tax benefit.
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Old 01-16-2002, 03:20 PM
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Mach1 is PARTIALLY right but not about the education IRA. I am a financial planner with a major wirehouse. There are many ways to approach the process. First you must determine the following:
1. Goals and objectives
2. Time Frame
3. Risk Parameters
4. Needs for income
5. Taxes
These are 5 main compenents to begin with. Next you need to decide if this is a lump sum investment or an ongoing contrbutory process. Then you must understand that 92% of all investment returns do not come from picking a particular stock or bond, nor do they come from timing the market, but these returns come from diversification. Ideally have large cap, mid cap, small cap, International, growth, value, some sector funds and some bonds will all contribute to reducing volatility and enhancing returns.

I know this sound very confusing. If yoiu wish, please feel free to e-mail or call me at 1-800-426-8961 and I would be happy to point you in the right direction based on your individual situation.

The reason I said Mach1shorty was wrong about the educaiton ira is that there now exists a new plan called the 529 which makes the education ira obsolete. It allows MUCH great contributions, gives you total control, allows you take back the money or use it for yourself or anyone else at anytime if you wish etc.

Several board members are clients of mine and others I have just helped out. So don't be shy to call or ask!

Shane
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