by Stacy Francis, CFP®, CDFA
There are so many different kinds of mutual funds, does your head hurt? How do you pick one that's going to make you a ton of money? There are now funds that specialize in so many different parts of the world and so many industry sectors. What do you do? The answer is not to invest in the latest “hot” mutual fund profiled in the likes of Smart Money, Money or Kiplinger’s. You need to look at less flashy funds.
If you don't yet own any funds, ignore the specialized ones at first. You need a foundation to build on. Start with a solid, well established equity or balanced fund to deliver growth while limiting the up and down volatility. Be sure to check out its fees as well as manager track record and tenure.
Savvy Ladies’ Tip: Check out the latest board game called Mutual Mania. Mutual Mania combines the entertainment of a board game with mutual fund education. If you enjoy Monopoly, you will love this game and you will gain so much more from playing it.
You can purchase Mutual Mania on Amazon and a portion of your purchase will help support Savvy Ladies.