Quote:
Originally Posted by pktruckdriver
Wow , thank you I appreciate your response and was surprised of the Wells Fargo warning , how did you know I have an appt. with the FA at Wells next week. Also the Merrill guy too, and another who suggested annuities to me, so I am choosing for now no annuities.
Yes it would be nice to attempt to manange an acct , but need alot more schooling and or training video's from different self trading companies, as well as a few investor websites and forums had a suggested video or two to help newbies.
But I am open to anyone here who has ideas, but was also surprised you think 2.5 or 5k only o practice with, honestly if I lose then t is max 5k, but if all went well and I did great, what could I expect in 6 month to a year?
again thanks for reply
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Google Wells Fargo fraud case, this wasn't too long ago. Plus I have personal negative experience with them. Brokers want you to choose annuites, because they pay them the best, by far. A broker can make 5,000 to 7500 by putting you into a 100,000 annuity, and they're a royal pain getting out of once you're in. The annual fees on annuities also eat into any gains.
You said earlier, that you want to be frugal, and also aggressive. That's kind of contradictory. I'd not want to give an estimate on how much you could expect in 6 months or a year. Managing risk is the best thing to learn first, second and last. A big drawdown on your 100k will make you curse the day you asked for financial advice on the internet. GL.
