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Novice IRA question
Posted on 6/29/23 at 8:40 am
Posted on 6/29/23 at 8:40 am
Hi
I just rolled over 2 old 401s to a Fidelity IRA. I’m reinvesting in different funds but one thing I’m noticing is many of these funds are having crazy good years and are YTD highs.
Stupid Q but is that ok to invest in these traditional high performing funds even if they are at all time highs? Many of them have 5-8% in NVDIA, Apple and Microsoft, all over performing.
Thoughts?
I just rolled over 2 old 401s to a Fidelity IRA. I’m reinvesting in different funds but one thing I’m noticing is many of these funds are having crazy good years and are YTD highs.
Stupid Q but is that ok to invest in these traditional high performing funds even if they are at all time highs? Many of them have 5-8% in NVDIA, Apple and Microsoft, all over performing.
Thoughts?
2
Posted on 6/29/23 at 9:57 am to dallastiger55
How long are you planning to be in the market? If it's 30 years, set it and forget it. If it's 5 years, maybe look at other options.
Posted on 6/29/23 at 9:59 am to HailToTheChiz
Sorry forgot to mention I’m 43 so 20-25 more years
Posted on 6/29/23 at 10:01 am to dallastiger55
I'd just start maxing the IRA yearly. Don't worry about trying to time things.
Posted on 6/29/23 at 10:12 am to HailToTheChiz
But to my original Q, what about dumping it into all well performing mutual funds that are at all time highs?
Posted on 6/29/23 at 10:24 am to dallastiger55
I mean, would you rather dump money into mutual funds that have ranked and are at all time lows?
If anyone knew the future, we wouldn’t be here. Dollar cost averaging is what I do, but I get you’re in a little different situation.
If anyone knew the future, we wouldn’t be here. Dollar cost averaging is what I do, but I get you’re in a little different situation.
Posted on 6/29/23 at 10:43 am to dallastiger55
quote:
what about dumping it into all well performing mutual funds that are at all time highs?
If that’s a major concern, you could leave a portion of your rollover in a money fund and periodically dollar cost average your way into the desired equity funds that you’ve chosen.
As others have said, no one can predict market performance over the short or long term (although many continue in that pursuit). But chances are, over a 25 year period, there won’t be a meaningful difference in performance between the lump sum and DCA approaches. And don’t watch the daily or monthly performance of your funds. Especially if that would lead you to make an emotional decision to buy or sell (short of the walls coming down
).
Posted on 6/29/23 at 7:52 pm to dallastiger55
Somebody linked a great article outlining the “worst market timer” in history.
I’ll try to find it.
LINK
I’ll try to find it.
LINK
Posted on 7/2/23 at 6:53 pm to makersmark1
Before being able to make the first post on this board, every newbie should have to read the story of Bob and pass a quiz. Yeah, I’m serious. The admins should maybe consider a refresher course for the vets too.
Posted on 7/4/23 at 7:30 am to dallastiger55
Put it in SOXX or XSD and let it ride.
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