SPIAX

ratedsar

I recently fired / was fired from EJ. I inherited a small account with SPIAX, which the original purchaser paid a 5% load for and I was paying a 0.58% annual fee for.  The advisor pitched moving into QQQ fund (which would have outperformed SPIAX) with the funds and their new 1% aum fee or 2% per trade (etc). I just let SPIAX drip for 4 years.  Finally, he wasn't making money from me, so he transferred me to national to do anything. he fired me. That's right, I have to talk to someone I've never met to manage my money at a firm that is pitching a personal relationship. Well, now I moved the SPIAX to Fidelity next to a 401k and Cash Sweep plan, now it'll DRIP into FZROX, saving .58% a year, and reduce the number of tax forms I file. The kicker, fidelity has a free advisor that is close to where I live for the basics.

username_taken1776

Formatting tip, if you add two rows (hit enter twice), it will start a new paragraph and makes your holdings easier to read: Roth IRA: 100% VT Employer Simple IRA: 100% SPIAX HSA: 100% FZROX Brokerage: SOFI, HIMS, NVO, VTI

jdmulloy

Why not lower the ER on QQQ? Guess it's popular enough they can get away with it. My wife has some money in SPIAX which is Invesco's SP 500 index fund, and it has a criminally high ER of 0.5% vs 0.04% for VTSAX. She had it before we were married at Morgan Stanley because that's who her parents use.

JeffB1517

Very frequently in a 401K the load on A class shares is waived for a 401k. A load is a marketing expense used (mostly in the past) to make financial advisors accessible to people with low assets but moderate to lots of future earnings potential. For a 401k that isn't needed as the 401k company takes an AUM fee from the pool of assets (paid by plan participants or the company depending). That being said, very frequently is not always. This is worth checking. It is also worth doing a small deposit and checking that money didn't disappear before you do a huge swing. BTW SPIAX has an ER of 54 basis points. That's really high for an SP500 index fund. You may want to check the other options, it seems like in this plan you aren't going to be paying much for active funds.

peanut_butter_zen

I've been throwing $600/month into SPIAX via my 401k and that's all I'm doing. I'm 34. Is that good?

avcpl

SPIAX for us; we old so 7k each.

HeyYoChill

Just do it in an S&P 500 tracking mutual fund. E.g. SPIAX or SWPPX