Hey everyone. I have been investing for a couple years without putting thought into it and am now taking full control over my investments.
Here is some background info:
Age: 30
Salary: $139,000/yr with guaranteed growth
401k: $45,000 100% VFFVX
Roth IRA: $7,200 88% AAMTX, 12% VT
My main objectives are to ensure my 401k and Roth IRA holdings are solid before moving into investing with my personal brokerage account with fidelity. I am young so I can take on higher risk.
First thought. My ex financial advisor from NWM (F them) put my Roth in AAMTX, which has an almost 6% front load, plus a 0.7x % expense ratio. This needs to change. So I had $800 ready to trade after a contribution this year and I bought 4 shares of VT (hence the 12% VT). I intended to convert my entire Roth IRA to VT...but...
Problem: Fidelity says I can only sell my ~$6,000 of AAMTX and buy another mutual fund, not an ETF. So I can not sell my AAMTX and buy VT, which was what I wanted to do. I looked into buying VTWAX instead, however that leads to my next thought...
Are VT (or VTWAX) and VFFVX too overlapped? Should I change my Roth IRA into something that covers something other than what VFFVX covers in my 401k?
I would love some help diversifying here and ensuring I am set before I engage in my brokerage account (which I plan to use $15,000 to buy ETFs and hold for 10+ years. Planning for ARK* and other funds).
Thank you all!
Submitted February 19, 2021 at 07:15PM by midir09 https://ift.tt/3qPuIxf
