RE: MFs are slow, but they grow.
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Oh!! Damn, I missed this awesome comment.
You have the right Idea.
Direct stocks are a bit too risky for the long term unless you are a veteran in the stock games. I dont recommend it. The gains can easily get wiped out in a market crash, or a company screw up. MFs soften the blow in such cases.
How do you select an MF? I am sure just a random look at the profile isn't enough.
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Honestly, I took the laziest of the lazy approach, my pension MFs are defined by the pension company/insurance. I can tell them what profile I want, from lowest of lowest risk (bonds incl state bonds + interest given assets) to highest risk (stocks incl emerging countries and such), and some profiles in between. Same thing for my mortgage. Every few years I review this, planning to change profiles, but never really do this. Most are in the highest risk profile they offer, which is still kinda safe.
Oh!! It's more like a recommendation from the Asset Management service. Nice..
It looks like the laziest approach is well-balanced and working out for you. I will have to wait till April to decide if I should restructure my portfolio or continue.
Cheers🍻