I have lived out of the States for a long time and am just getting around to beginning my retirement savings in the US. I'm 39 now and I have a 401k from my new job (slow but steady), and a little bit of money (slightly less than 10k) in my individual account. Someone suggested I diversify with most of my money in Mutual funds. I am now holding the following:
FTQGX (16.75%) / SPHIX (12.81%) / FCNTX (16.79%) / FXAIX (10.36%) / FSPSX (6.76%) / FPADX (19.48%) / SCHD (17.04%)
Please, speak to me like I'm 10 - does anyone have suggestions on how I can navigate having much less than all my friends in their account, but still be able to eventually retire at some point in my life? Further diversifying with more EFTs and intl. stocks? Suggestions of which? All investments I have are from research I've done - hopefully they're okay.
I really am trying to do as much as I can; I've been researching, but theres just so much to learn! I'm currently putting 14% of my income into my 401k, and 20% of my income into my individual account. Honestly, anything helps at this point. Thank you so much.
**TL;DR:** I’m 39 and just starting retirement savings in the U.S. after living abroad. I have a 401k (contributing 14%) and an individual account (contributing 20%). My financial advisor cousin suggested mutual funds so I don't have to manage them as much. I have way less saved than my friends—how do I make the most of what I have and still retire someday? Any advice helps. Currently holding: FTQGX (16.75%) / SPHIX (12.81%) / FCNTX (16.79%) / FXAIX (10.36%) / FSPSX (6.76%) / FPADX (19.48%) / SCHD (17.04%)
Thanks! 😊