I am a 24y/o male. My salary is up in the air because I lost my night differential. I make ~80k a year.
I invested with an investment company called “Primerica”. I have 2 accounts with this company.
The first account I have is a TOD account (transfer on death) w/ an initial investment of $25,000 in July 2021. It says I have that money in a mutual fund (Invesco Short Term Municipal A) it says it’s symbol is ORSTX. My current amount in that account is $24,886.17.
My second account is a Roth IRA with reoccurring monthly investments. I have put in a total of $800. It is all invested in Franklin Dynatech Class A (FKDNX). That account currently has $776.24 in it.
My goal for the first account stated was just somewhere to park my money that would give me better interest than a Bank of America savings account, but I have lost money. My goal for the ROTH account is for retirement.
Ultimately what I’m asking is what I should do with those accounts knowing my goals. plan on closing both accounts due to their losses. I also am thinking of opening an a Roth IRA with Fidelity and a HYSA with The company Marcus and potentially a CD account for that short term to see how it goes. Any suggestions on my next steps?
Submitted November 25, 2021 at 05:49AM by CivilSounds https://ift.tt/3xkqGRs
