So da wife and I are in our mid 40's. We each have mutual fund accounts. We started those a few years ago by rolling them under one umbrella, because we each had little retirement accounts from various employers and now they are under one roof.
Her employer and mine have R/A's, and we add to our mutual funds every year for the obvious reasons. What I would like to do is take 1k (I think that's the minimum) and go to Charles Schwab and have them invest in the stock market.
Now I know there will be some of you here that will say "do it yourself". Ah no, I don't know enough about it, stuff like that isn't my thing, thanks anyway.
So the advice I am asking is Charels Schwab a good place to start, or Edward Jones? Any other firms?
What I have noticed over the years is that it seems older guys and guys in the know that have investments don't want to give advice, almost secretive. I knew one old timer that suggested to me 20 some years ago to invest in mutual funds. I took his advice and got started at about 35. I don't understand why guys don't give advice to younger people. It's like it's they just want to be smug about it and look down their noses.
Viking, If you go to those brokers, it does not matter what company. I depends more who you end up with as an advisor. You may get the best adviser in the state, and the advisor next to his office may be a disaster. Some care , some dont. I went through three advisors and none cared. The last one was an absolute disaster. As for older people not giving advise, I have seen the same thing. It was and still is so hard to get advise that people will walk away. I decided to educate myself. You say it isn't your thing. Maybe not but you will be very surprised how well you can do if you read for an hour on how to do it. The easiest way is go with Fidelity or Vanguard. I have Fidelity , walked into their office and they did everything , and I mean everything of me, and I only put in $ 10 K in at first cause I had my money with the other advisor . I quickly started to see that I was beating my advisors ideas. One day I called my advisor, they said they'd call back . After six weeks of no callback I rolled it into Fidelity. Now Viking , dont yawn yet, this is how simple it is . An advisor will not " take all your money in fees" Like EDM sais RUBISH. They will however most likely take 5% of your money up front for themselves and 1% expense ratio after that. If you give them 10K , you will end up with $ 9,500 in your fund cause they take 5% up front. After that your fund will return 7% but they will take the 1% expense charge . so, they will take 1/7th of your profits . When the account gains. Their advise is not worth it in most cases. Here is how easy it is. set up an account, put it in any S&P 500 fund (,FidelityFUSVX) some in a madcap fund I have IJH and VOE. So simp it is sad people like you think they can't do it. Cause you are in mid 40's I would start some bonds when ya turn 50. Remember , fidelity will do this for you and charges are extremely low. I am setting up a ROTH for my nephew over Christmas. He is in Wyoming in the Airforce base there. My son is 20 and buys ETF's and stocks Has a ROTH too. So easy , even a Viking can do it.
