Market and money?

Question

I have my investments, IRA, muchal founds in National City bank. After I lost almost 4% from it, I called to financial adviser and he stopped it for 2 month. I asked him to open it again, hoping that he will moved it, so it will be in better condition...No, I lost again about 4%... Should I move my money to different bank? Can I do it?

I understand that right now is not a great time in the market, but still I feel like my adviser isn't doing a good job.

Sorry for mistakes here.

Answer 1

Well these are not good times for stock and mutual funds. You have to wait till the markets are in shape to get a good picture. He may indeed be doing a good job . Market all over the world is losing at much bigger rate than what you suggested.

Answer 2

If you feel your advisor is not doing a good job, or if you are uncomfortable with the advisor or the company, then you should move your money.

beyond that, I'm sorry but your question is not really all that clear. Do you have all your investments in mutual funds that are run or sold form the bank? That's the way I interpreted your question.

As for getting all your money out of the whole stock market, that's going to depend on you. I know it's scary losing 4% in a short amount of time, but in the long run it's more beneficial to stay in the stock market.

This depends on the type of investment you have: i am not qualified to talk about investments, but a fee only fiancial planner would be.

For just a little bit of money they will take a look at your whole fiancial situation and make recommendations to you.

All mutual funds are different, some are very good and some are very bad. Your fiancial planner should be able to point you in the right direction.

You should definitely start reading up on mutual funds and the stock market if this is interesting and a little bit scary to you (don't worry the stock market is scary to me too!).

You can check out some of the great books I have reviewed here, and try to find them in a library.

You can find the book review here, I recommed The Wealthy Barber to start

http://btgnow.net/pages/reviews.html

Answer 3

Mutual funds will always fluctuate. A lot of people misunderstand the stock market. They want to invest when the market is going up and they want to get out when the market is going down. If you move your money you will get more of the same.

Let's assume that you like drinking soda pop. And that the next time that you go to the grosser store; you see that the sodas are on sale 50% off. Would you buy a few more sodas?

The stock market works the same way. The best time to buy is when everything is on sale, and if the prices go down even lower you buy more.

Take advantage of the "sale" on the stock market "it a limited time offer".

Answer 4

Move It.

National City Bank stock fell to below $1 share!  Get it out of that bank.  Sounds like he put you in mutual funds.  You might have to pay management fees and load costs too.  The market is very unreliable right now.  There are much safer places that you can put your money tax deferred.  It all depends on the reasons you're saving and when you'll need it, but there are places where you could get back the money you lost, maybe more, just by moving it.  And they would not let you lose the money you put in plus you would make good gains when the market gets better.  Send me an email if you want to learn more.