You live a little, you learn a lot.
Years ago I had a few bucks outside my retirement money. I gave my money to two different outfits to manage at different times. It wasn’t a lot of money.
The first outfit was Edward Jones. A former coworker and friend had gone to their school and opened an office here locally. My intuition told me I’d be better doing my own thing.
Unless EJ has changed over the years, they will put you in loaded funds as EJ is a store front window representing select funds companies. EJ gets an upfront cut of all contracts they bring in. It’s a commission based set up.
From there I moved my money to an individual that was part of a money management firm that came highly recommended. Same thing-loaded funds and the like. My money was making him money. Done! Out.
From there I put the money in a Vanguard Roth account and have done fine with that over the years.
Kids that grow up in households that don’t have money to invest, like our household when I was young, are generally behind the curve in learning what the do’s and dont’s are of simple investing principles. When I got my first real job I was very fortunate to be around friends there that knew how important it was to get started and how important it was to put a good percentage in the, fairly new at that time, 401K.
Over the years if I have much of a conversation at all with a young person I will find try to find time to touch on investing while you’re young, getting started now. It bothers me that so many kids aren’t educated in this topic.
Sorry for getting long but I’m about it.