Managed portfolios
 

Does anyone have any managed portfolios? If so how much money are you making from it and how does it work exactly. Like can I cash out at anytime?

I am trying to invest not much just something small in order to get started.

Re: Managed portfolios
 

There's no reason to have managed portfolios.

Most rich people don't use managed portfolios or active funds. They index like the rest of us.

Just do 80-90% S&P 500 and 10-20% bonds. Go buy 90% SPY and 10% BND.

Done.

Re: Managed portfolios
 

were do I buy all of this? sorry if its a stupid question I currently have ally bank

Re: Managed portfolios
 

Open up an account with Fidelity or Charles Schwab.

If you buy their version of S&P and bond indices, they don't charge you commission.

So do this:

* Open up a Fidelity account

* Contribute to your investment account

* Buy 90% IVV, 10% AGG

* Hold and don't sell

* Don't day trade

If you pay a money manager about what to do, they would tell you exactly this.

Re: Managed portfolios
 

You should start with 401k if your job offers one, if not, maxing out an IRA before you start investing any other money. How much do you have set aside for retirement?

Re: Managed portfolios
 

i have IMRF whatever that is.

I have zero besides whatever is in my IMRF

Re: Managed portfolios
 

Ok ill try that. I was opening an investment account with ally because I bank with them and they said they couldnt verify my SS and told me to fax or email my SS to them

i kinda wanted to stick with ally because its all in one app

Re: Managed portfolios
 

Opening an account with Fidelity was super easy for me.

I use Fidelity for everything: Investment, Roth IRA, 401K, Checking and even credit card. All of their accounts don't charge any fees.

Their credit card has 2% cash back on all purchases and they have reimbursements for all ATM's.

Seems like a no brainer to me to use Fidelity. I used to have Wells Fargo but I changed to Fidelity long time ago.

Re: Managed portfolios
 

Dmn dude it almost seems like i read an ad for fidelity

Re: Managed portfolios
 

Now I just need Fidelity to actually pay me and I'll be set :)