Met with a Dave Ramsey 'CLP' yesterday

**PrairieRose** · 05-24-2008, 09:57 AM

to talk about mutual funds and other investments. We were a little hesitant but Gripey found him and contacted him via email. We were very pleased. The first thing he did was show us the Ramsey baby steps and talk a minute about that and then he showed us the fees that are charged on funds and how he makes his money.......didn't expect him to do that first thing if at all.

He was a young guy and a little nervous which I sort of liked too but we got a great feeling about him at the end. Not pushy at all which won us both over. Anyone have any experience with mutual funds to speak of? Which fund has been your best/worst experience? We're looking for long term, obviously...... .

**larabelle** · 06-11-2008, 10:35 PM

Sorry I have no idea about mutual funds. But I wish you well.

**PrairieRose** · 06-12-2008, 08:53 AM

Thanks, and it should read ELP.....

**Greebo** · 06-12-2008, 09:13 AM

I don't have much mutual fund experience, but I have heard good things about Vanguard and T. Rowe Price.

**Momof4cats** · 06-12-2008, 09:05 PM

I've used mutual funds for my 401(k) however I'm limited to the choices the company gave me.

As for choosing the best fund, that's going to vary from person to person. Some people are willing to take a bigger risk for a chance at a bigger gain. And with long term goals, that's easier to handle. But if every time they report on the news that the stock market went down you won't be able to sleep due to worrying about your money, then it's not a good idea for you.

That being said, you don't want to put all your eggs in one basket. If you diversify into different types of funds, the risk is less because if the market goes one way the idea is a fund that performs better would offset any losses in another fund, thus balancing out your risk. You can go to Money magazine (online); I think they have some search engines to help narrow down funds based on criteria you select. Look for ones that have done about 10-12% over the past 10 years. Then slowly start weeding them out based on things such as expenses/fees, how long the fund manager has been there (won't do much good to pick a fund that did great the past 10 years if the manager during that time is gone and the new guy is only getting 1% a year), and the types of stocks it invests in. If you just want something that mimics the S&P 500, then get a fund that specializes in that.

I agree that Vanguard and T. Rowe Price in general is a good place to look, but not all of their funds perform well. Vanguard has very low expenses.

Can you tell I would love to be a financial planner/advisor?