This content was generated by a fully automatic transcription process and might contain inaccuracies. Recorded on: 3/19/2016 08:50 AM
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Accountant
Michigan
Social Security
United States

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It’s will fund store in Fresno and by civilians. For the same commonsense approach you know and trust on the mutual fund show foaming at 5-5 9-4 3-4 98 hundred go to mutual fund store.com . Welcome to the mutual fund show brought to you by Financial Engines it’s the radio show that is dedicated more than 15 year .

Thursday , giving you rational and sensible investing advice. Got a question about retirement your portfolio a mutual fund or ETF you own it . Or anything you need a second financial opinion I give us a call that .

88-8 8-3 3-8 6-3 7 that’s day 8-3 3-8 6-3 7.

And now taking your calls and answering your questions are your hosts Danny and Andy Smith.

Bill joins us up for Michigan. Good morning , Bill .

I would appreciate your opinion. American Century All Cap Growth Fund symbol T W G T .

Do you own this already.

My son does. We’ve been , and since 1996 when it was called give trust .

About how much of this fire and makes up a particular percentage of your portfolio.

It’s less than 10% of his portfolio.

Okay so American Century All Cap Growth T W GT acts. That’s what I would call a multi-cap growth funds so it’s gonna have growth stocks of different sized companies within the portfolio . It’s not all that bad , you look at total returns , you look at the consistency of returns , I look at capital preservation . The one thing that I have a a little bit of an issue with is its tax efficiency . So if you own this within a taxable account just be aware that you know every January , February , when you get your 1099 you may have some bad news waiting for you . The one thing Bill that I want you to watch out for is that it’s awfully volatile for the types of returns that you see so you want a little bit of a risk return trade off . Right . But if you’re not getting out of the fund . What do you think you should be getting , based on the risk of the volatility that you’ve taken on that’s not necessarily the best type of fund to own now it , it has become a little bit more conservative here over the recent months , but you’re gonna wanna watch that volatility . I like the fact that it’s less than 10% , so it’s not like he got a huge position so hold it be mindful of of the volatility , but if you have other questions in the future . Just give me a call .

I appreciate it. Thank you .

I mean , good luck to you. Have a great weekend . Steve has a question for us here on the show . How can we help .

I’m around 54-55 and I have my own I’m self employed. I don’t have any 401Ks . I don’t have a new IRAs , I don’t have anything like that . I have very little to work with I mean very little . And so because of that I made sure that I’ve taken care of my obligations for us but I don’t have any of those retirement plans . How do I get something going , what should I do .

Sure. The first step is you have to open up an account that’s gonna receive everything that you got a safe on Monday . I would want you to call your Accountant and ask him or her , what type of account is going to be best for you to open as a retirement savings vehicle once you get that account open then you’re going to try to save even you know one percent 5% 10% of whatever you have come in and just get some amount off of the very top and get it into that account and so on a regular and recurring basis you’re starting to build those savings dollars . I’m gonna give you 2 options and it depends upon how much you’re able to save . If you think that things are gonna be kinda it’s going to be hard for you to get regular amounts into the account . There’s a fund that I use for people just starting out that the minimum investment amount is about 100 bucks . It’s a Schwab fund it’s called Schwab market track balanced S W B G access is the ticker , what it is , is it’s an allocation fund , so instead of you having to go out and find stock funds and bond funds and build all these allocations and follow the markets and do all that stuff . Here’s a fund that gives you stock exposure bond exposure international exposure . So all that you’ve got to worry about is saving as much as you can for as long as you can , if things are a little bit better . There’s another fund that I use the same principle , but the minimum purchases a little bit higher . The ticker symbol on that is M B so Mary Bravo EA acts MBE acts so Chicago Equity Partners balanced same principle but you you have a little bit more options with that . So talk to the Accountant get an account open figure out how to save even a percent 5% something into that account and then once you cross that dollar threshold you’re gonna buy one of these allocation funds . Does that make sense .

Didn’t make sense. I appreciate your time .

Absolutely. Good luck to you . Thanks for the call .

Thank you very much.

Let’s talk to Maria here who’s getting close to retire , so what’s the question for Indian me.

Well , the question is , I’m financially naive. I’ve been working almost 30 years that a job I’m near retirement , but not quite there , and I have made me , I don’t know 20,000 saved up but I’m gonna be pretty upset with the job in the money they’re gonna be giving me every year . So should I be looking to invest . I’ve never invested in my life .

All right , so you’ll be receiving a pension. Is that correct . Yes he correct .

We will also be receiving Social Security or just your pension.

I will be receiving Social Security as well.

All right. So you’re going to be okay . As far as mailbox money then correct .

Right , correct.

What , what is the goal for this money.

Well , I wanted to grow. Of course .

So that you can give it away , so that you can take a vacation. Did you know you wanted to grow , but what are you going to use the money for .

Okay. I do want to travel . I do want to leave my children something ultimately because when I die . There goes my pension .

All right , here’s what I think you should do I think I would sit down with myself another you just sit down turn off the TV set there with all with a patina paper and say this is what I wanna do I want to be able to take some of this money and travel. I want to leave my daughter . This will leave my son that’s only my grandkids this and then you sort of look at that and then it’s at that point that we can go hook you up with somebody to put together a plan so that we can increase your probability of success in achieving that plan , but you gotta have a goal first and it sounds to me like a little bit of travel and then having something for the kids as an inheritance . Is that the 2 primary .

That is not all that that is the 2 primary.

All right. So now we’ve got a goal . We all know how old you are . We’ll know what life expectancy is that we build a plan around that , so you we start with a goal . Then we start working with the plan , so that we can increase your probability of success . What you hold on a minute try to get you in touch with somebody who can give you a start on this . Okay .

Thank you so much.

You bet , Maria , and good luck with this retirement. Okay .

Thank you. Have a great day .

All right , that’s about it for us today. Thanks for listening , thanks for giving us a chance to help out with your finances .

Remember , you only get one shot at retirement simply nature to reach out for help. If you need it , but then had a great weekend . We’re gonna be back with the next week .

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