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How Do I Pick the Right Mutual Funds?

Mar 20, 2024
raj is with us in philadelphia hi raj welcome to the dave ramsey show dave and rachel are big fans of yours thank you for taking our call today we are honored how we can help so my wife and I came here to this country five years ago since India to do our master's degree and after our master's degree we got some great jobs, you know, thanks, thanks to the country and also our hard work, I guess also sir, we got some high paying jobs and suddenly things that we couldn't We hadn't imagined they were affordable, so we splurged at first, bought some credit cards and then realized that at the end of the month we had more days to cover than money, even though we were making a lot of money.
how do i pick the right mutual funds
We got to know them and then did a complete 180 degrees. We paid around 62 thousand dollars in 10 months. So again thanks to you and now we're on little step four and we're doing that fifteen percent. investments every month and I'm a big money nerd, I'm an experienced data scientist, so my question for you today is: we allocate

funds

to our 401k and also to the roth ira per instructions of the year, but every day I look at it and it's amazing to see money growing every morning, but you might be a little confused about which fund you would choose and whether it's okay to change

funds

within those groups based on how they perform because within those four different sections you mentioned that some perform better than others in a given week or month, so what's your advice on that?
how do i pick the right mutual funds

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how do i pick the right mutual funds...

I look at mine once a year and I've divided mine into 25 percent growth 25 revenue growth 25 international and 25 aggressive growth and no, I don't obsess about it, I don't look at it every day, it's not unusual for me to go a full 12 months without even looking at the balance, uh. because I didn't buy it as a day trader, I bought it as a long-term investor now, if I look at one and the category of the fund, let's just say the year, trailing the previous 12 months, that revenue growth. The fund did four percent and all the other growth and income funds in the space we're doing 10 or 12 percent, so obviously I have a bad fund, I'll go ahead and make a move and then move on to a better one. growth and income fund, but I am comparing it to other funds in the space or what that particular category did, what the aggressive category did, what the growth and income category did, what the foreign funds did and did, the international funds. this fund underperforms over a long period of time, being one year, that category, and then based on that I might move one, consequently, I almost never move a

mutual

fund because I buy things with good track records that are companies known and tend to perform up to what the category does, so I almost never change backgrounds.
how do i pick the right mutual funds
You will have the tendency, because you are a data nerd, to move in and out of funds and that will cost you more than it will cost you. I do you so I use a buy and hold strategy and I made a lot of money doing it that's how we do it Raj thanks for calling. This is the Dave Ramsey show.
how do i pick the right mutual funds

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