I am new to investing, having only really begun researching over the past six months, and prior to that making contributions to 401K.
I recently opened a Scottrade account where I purchase stocks and have a Fidelity account where I hold my mutual funds. I have no allegiance to either but I had the fidelity account due to a rollover 401k and was convinced by a friend that Scottrade is less risky about how they hold their/my cash. I have individual accounts at both brokerages.
One thing I do like about Scottrade compared to Fidelity, is that they allow smaller contributions to funds after the min is met.
Anyway, I intend to hold the majority of my investments in mutual funds and for now they will be held in the fidelity account. The goals of these investments are both retirement and growth. I will dedicate a portion of all assets to retirement at some point.
What are some recommendations for core position ideas, starting with Fidelity funds and then others. If other, what are the reasons to look outside fidelity in terms of a core position?
Current non-retirement fund investments approx = %50 Cash, 20% TGLDX, 13% DEFIX, 17% ARIVX
I am reading "Common Scenes on Mutual Funds" as a primer on the topic.
Thanks in advance