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USTaxAdvising
USTaxAdvising, Accountant
Category: Finance
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Experience:  Professional with finance related questions.
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How can I find out the best mutual funds for me to invest in.

Customer Question

How can I find out the best mutual funds for me to invest in. I am a 66 year old so perhaps growth funds may not be the best kind.
Submitted: 10 months ago.
Category: Finance
Expert:  USTaxAdvising replied 10 months ago.

USTaxAdvising :

Hello,

USTaxAdvising :

I am not an investment advisor but generally speaking people in your age group would be investing in "fixed Income Funds"

USTaxAdvising :

Fixed income funds are funds that are investing in AAA bonds and treasury securities.

USTaxAdvising :

These funds generally carry much less risk which is what someone in your age group would want

USTaxAdvising :

you don't have time to make more money, instead you need to preserve what you have.

USTaxAdvising :

With less risk comes a lower return but at least your principal capital should be preserved.

USTaxAdvising :

Look at Morningstar for a good analysis of prospective fixed income funds. See link here - http://www.morningstar.com/Cover/Funds.aspx

USTaxAdvising :

ETF's are even a great option now adays as they generally carry less transaction costs but you have to be very mindful of the management fees they charge.

USTaxAdvising :

At your age you would generally want to stay clear of equity securities such as (common stock). These investments carry more risk which you cannot tolerate at your age as it is difficult to earn more income.

USTaxAdvising :

I hope this helps you in some way.

USTaxAdvising :

Please let me know if you have any follow up questions and I will do my best.

USTaxAdvising :

best regards,

Customer:

Would you t

Customer:

How about balanced funds?

USTaxAdvising, Accountant
Category: Finance
Satisfied Customers: 1080
Experience: Professional with finance related questions.
USTaxAdvising and 5 other Finance Specialists are ready to help you
Customer: replied 10 months ago.

Are balanced funds also a good idea?

Expert:  USTaxAdvising replied 10 months ago.

Hello Clara,

 

As I mentioned before, I am not an investment adviser so I am not giving advice here.

 

Balanced funds would also not be in your portfolio. Balanced funds also face market exposure as they invest in equities and riskier investments.

 

Note though that if your risk tolerance is higher these may be more suitable than an actual direct equity investment. You have to determine what you are willing to "risk" from there you can diversify your portfolio accordingly.

 

I hope this helps. Let me know if you have any follow up questions.

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