Over the years, I’ve rolled over several 401K’s from previous employers into IRAs. Up until this past November I had been holding the funds in a Fidelity account. I used the Fidelity online investment tool to figure out how to invest my funds. A year ago this May, my dad came to me and advised me to sell everything and hold in Cash. He was 76 at the time and feeling a bit like Chicken-Little; he watches The Kudlow Report and Fox news and at the time there was a lot of talk about the financial sky falling. Through the recession his investments had taken a beating and he was doing the same; holding in Cash and in Gold.
So I did. I sold all my holding and held in cash. And then I forgot about it. That is until I got my job last September. When I signed up for my 401k at my new company, it sparked the thought that I needed to do something about my Cash in my Fidelity account. But what? I’ll be perfectly honest. Like most people this is the part of money management that I lack skill, knowledge and confidence. Figuring out where to invest my money.
So I did what I always do. Asked my Dad. He suggested I check out AssetBuilder. AssetBuilder was founded by Personal Finance Writer, Scott Burns. My Dad has been a big fan of Scott’s writing and his approach to investing. Scott developed the Couch Potato Portfolio for the laziest of investors who want to invest on their own and has written about the portfolios in his nationally syndicated column. He’s got 10 of these formulas now.
But according to the website, he had a nagging thought about how to tweak the Couch Potato Portfolios to minimize risk and improve performance, all with the lazy investor in mind. Like me. And so he started Asset Builder.
I love the name: Asset Builder. Who doesn’t want to build their assets? Me please!
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This is part one a two part series on my IRA and AssetBuilder.
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