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Originally Posted by otis_nixon
This sounds like a pretty horrible idea. Maybe too late to turn it around, but if someone came to me and said "i'm gonna buy mutual funds through a bank financial advisor" I'd say lolnothats******ed
Yeah I posted about it when I first did it and everyone said it was stupid. I left the money in there and I'm actually up even though the market has been shat over the last year.
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I don't think anyone can really give a good answer to this without knowing how much you have where, where you live, how much you earn now, how much you expect earn in the future, how old you are and what your goals for the future are.
I have a full-time job, which being single and living at home, I'm saving a ton of money. I paid off my car, no more school loans, and basically just riding it out. I'm turning 26 in 10 days. I'm possibly going to be looking for another job soon, but right now for what I do, by 2012 I will be making ~$51k/yr after I top out over the next 3 years if I stay in my current job.
Right now I'm laying low to see what the future is going to bring. I was planning on funding a new Scottrade account with $10k and do my own research on investments.