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Should I switch to Vanguard?

Posted on 7/15/16 at 10:04 pm
Posted by Saint5446
Member since Jan 2014
837 posts
Posted on 7/15/16 at 10:04 pm
I have a solo 401k for my side business, looking to contribute about 15k yearly to it. I am 31 years old, plan currently has about 19k in assets. I also have about 14k in my full time employers plan that I am putting 9k a year in including my employer match. Total is about 24-25k in retirement savings yearly between both plans, currently have about 33k in assets between both plans. Got started a little late due to grad school and loans but starting to get rolling now. Total income between both jobs is about 180k year.

My question is this: I had a patient who is an advisor who set me up in my solo401k through invesco. I am into the following funds:
INVESCO GOVT MONEY MARKET - CASH RESERVE
INVESCO EUROPEAN GROWTH FUND -CLASS A
INVESCO ASIA PACIFIC GROWTH FUND - CL A
INVESCO SMALL CAP DISCOVERY FUND-CLASS A

I don't know a lot about reading the report sheet on individual funds, but looking at the rates of return over the past 5 years, 1 year, etc none of them have done very well at all, and actually seem to have performed badly. Don't know where to find expense ratios or what is a good amount, but i saw that one of them is like 1.5%. I know Vanguard offers much lower fees, seems to have performed much better, and seems to have a great interface to use.

The guy has now kind of become a friend although he is MUCH older than me, and I feel stuck. He is a patient and I see him every few months, has referred other patients to me, etc. I don't talk to him too often, but he checks in every now and then to see how me and my family are doing, seems to have taken a genuine interest in my life and is a little bit of a mentor when we talk. Am I getting fleeced? Are these funds ripping me off? Any input is appreciated. My balance is low enough to where it is not going to have a huge effect on my future, but I am starting to do pretty well and want to tighten up a bit moving forward.
Posted by Shepherd88
Member since Dec 2013
4661 posts
Posted on 7/15/16 at 10:16 pm to
Everyone on here will tell you to move your shite to Vanguard.. I'll be the first to say that Invesco is a pretty stellar company, their fees are a bit higher than most but for the most part they justify them.

Having said that if what you posted is your allocation, then in my opinion it's pretty aggressive and heavy international. I would have a sit down meeting with your advisor and pick his brain on what direction he's trying to take this based on your goals and then maybe get a second and third opinion.
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
77334 posts
Posted on 7/16/16 at 9:02 am to
quote:

CLASS A
\



quote:

CL A




quote:

CLASS A


Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
77334 posts
Posted on 7/16/16 at 9:43 pm to
yes vanguard is great. switch over. no loads, no annual fees among other things.

some funds i have done great with are

VGHCX

VGSLX

VPU
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