Quote:
Originally Posted by asifnyc
hey Greg,
I opened a T Rowe Price account 5 years ago. It's one of those accounts that automatically deducts money from your checking account every month to invest in mutual funds. I have 2 funds. A domestic eqty index and an international eqty index. after 5 years they are flat (with todays near 200pt gain they are just slightly above my contribution).
I think I want to dump them and put the money in a few individual stocks as we've been discussing. The current account I have with T Rowe doesn't enable me to trade individual stocks. I have to open a brokerage account for that. No biggie but my question is, should I open the brokerage account with T Rowe for stocks or should I go with someone else?
thanks!
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Your story is repeated all too often - and is the #1 reason I detest Mutual Funds... they draw people into believing that they're "well invested"...
RE Brokerage -- as long as it's a low cost brokerage and you can invest on line etc -- I'm not a fan of one over the other. It's a very competitive arena out there and most play follow the leader. I use Schwab for some of my accounts just because there's one just down the street.
It might be easier for you to do T Rowe -- and if one department talks to the other - they might allow you to just have your work withdrawals go into a "sweep account" (cash) and then allow you to transfer from time to time into your other account... but be very careful in how this is handled. IRA's and 401's etc must STAY within a IRA or 401 account...