You are recommending this to a relative not knowing fully what you are recommending & saying that you're just learning youselfI want to help my little brother get on his feet financially. The problem is, I'm just learning myself;
I've been in Altamira funds for 20 years, and am planning to switch to ETF's with a reasonable asset allocation and re-balancing. But I'm just learning about this stuff myself!
Here's what I plan to tell him initially:
"I suggest you look into TD e-Series mutual funds. These are "index" mutual funds, and have the lowest price of just about any mutual funds available. Index funds just follow established market indexes, and usually beat most other more managed funds most of the time, since it turns out that in a market with a lot of educated players, nobody can make better guesses about market movements than anyone else. Here's a couple of links for the
Later, you should consider even cheaper index ETFs, but hold off on this idea until your portfolio has grown bigger (this is because there is a brokerage fee to buy them, so you generally only want to do it with bigger blocks of money). "
...is this good advice? Is the TD fund family the best choice for now (I've no experience with them personally)? Is there anything else I should be telling him???
If you have comments, Thanks in advance!!!
Well its a tough call, especially brother-to-brother, it needs some further investigation I'd say, especially if your brother follows your recommendation and it goes the wrong way
Although, TD series funds - I suppose are OK, not something I would do
Good luck