Investment accounts

[okaythen]

Hello I am wondering which bank offers the best investment accounts and how are their services, So far I have searched HSBC's permiere account which needs min of 100k to open the account, and TD waterhouse needs 300k or 500k.

By investment account I mean you just let them handle and invest the money for you. Like bonds, mutual funds, forex etc

I have no experience in investment and I think just let the professionals manage and invest the money for you would be the best? I think I might invest a little by myself and most of the money let the professionals do it.

Any help would be really appreciated.

[safari]

You should consider target retirement funds if you want professionals to manage your portfolio for you. Personally, I like being in control of my investments, and I feel that I can do a better job managing my money than an investment firm can.

[disneysteve]

I would never allow someone else to manage my money and charge me for the privilege. The fees alone wreck any benefit you get.

Put your money either in a target retirement fund or build your own portfolio with a few index funds - Large company, Small company, International, REIT and Bonds. You can do this easily at Vanguard or Fidelity or far less than 100 or 300 or 500K.

[FrugalIII]

That's what I have been doing for years. I research mutual funds and invest based upon a target diversification. A lot of the websites, like T.Rowe Price will set your target for you based on your individual situation. Then I research the best savings accounts and put my savings in them. Currently I use HSBC and GMAC for savings/money market. Works well for me. I'd never pay someone to manage my money unless I was a millionaire.

[Ima saver]

I would never pay anyone to handle my money either. Just open up an Index 500 mutual fund at Vanguard and let your money grow without paying fees.

[Vapors]

Paying the professionals is a bad idea. Not only do you have to pay them 1% or so for their service, but they also tend to put you in funds with higher expense ratios. So they would have to beat the performance you could achieve by yourself by about 2%. That won't happen very often.

Index funds and target date funds are a good start. Educate yourself on what returns you can expect. Don't think that a professional is going to get you 15% or more return every year. Most professionals won't beat the indexes.

[okaythen]

thanks a lot guys

[jukebox9988]

Index funds are the best route when starting out. Once you gain a hang of how the markets work, you can invest in individual stocks, bonds, commodities, REITs, etc.

Just get started! Also, consider hiring a fee-only financial advisor to give you some more insight.

Good luck.

[disneysteve]

Also, consider hiring a fee-only financial advisor to give you some more insight.

Or save yourself a couple hundred dollars and buy a subscription to Money magazine.