Should I pull out of the stock market after losing $20,000 plus since last April when I initially invested. My stocks are with Charles Schwab.
Apple Inc., American Funds Washington Mutual, Fidelity Blue Chip Growth and SCHWAB US Large-CAP GROWTH. I am new to the market and my investment manager is not any help. What would you advise at this point?
I am only posting this so specifically because it is an example of the sad investment stories I receive.
Who is your “investment manager.” And why isn’t she/he able to give you advice now? Is it because once they earned the commissions on your transaction they no longer care about you?? Likely, that’s the case.
NO ONE can give you advice on investments without knowing a lot more about you: your age, your income, your total savings, your hoped-for date of retirement, your personal risk tolerance. And what percentage of your total assets is this $20,000? And is it inside an IRA?
You need a fee-only, FIDUCIARY financial advisor who is not trying to sell you something, who puts your interests first, and who will not duck out when the market is down.
Find one here.