Keyboard Ninja

HOLA!

I was referred to this forum by SAHTT. My question (or questions) seem really complex to me and I'm hoping someone could help me understand it. I've ordered a Jim Cramer book, and I'm waiting on it to come in.

My background:
- My parents set up the following funds a few years back and it is sitting at JPMorgan Chase bank. I've got the following there: ANGCX, and OICGX. They currently put in $100 on the 15th of each month (which I'm going to start doing taking over in May), and the financial guy usually puts it in the ANGCX. I was told that he would normally make the decision on where it would go, unless I wanted it put somewhere specifically. I believe this is a ROTH IRA account.

- They also had an Oppenheimer brokerage account set up with the following funds: QVOPX, and OPGIX. I don't have a clue on what it is there for, and what I'm supposed to do with it. I just know that there isn't a $4000 yearly contribution limit, even though I don't make anywhere close to that much.

- I opened up a ROTH IRA with USAA bank and they put it in a USBSX fund. I've only had it for a few months, and I contribute only $20 a month into it. I don't know what I'm doing, but if I was going to start my own ROTH IRA I figured USAA was a safe bet since I am active duty Air Force (E-3).

- I started my military TSP account in March 2007 and currently put in about $250 a month towards the L 2040, S, and I funds.

- I've also looked into buying life insurance (not term) but I can't do that until I get back to Houston, TX this summer.

- Lastly I have recently been looking into Fidelity's FFFFX, and Vanguard's VROTX. The problem is I don't know what the differences are. The FFFFX seems decent, but the expense ratio is about 3x's higher than Vanguard's VROTX.


My problem:
I have no real clue on what I'm looking at. I don't know of a financial adviser here on Okinawa so I don't know who to talk to. I'm afraid that if I talk to my Chase financial guy that takes care of my other stuff (see above) that he/she will just sell me on more Chase branded things instead of looking at what is best for me. I'm trying to do the right thing by planning ahead now, but I'm so lost. I'm afraid that all the stuff I'm looking at is the same thing and I won't be diversified enough (whatever that really means).

My Questions:
1) Am I just better off just investing more money into the funds I currently have?
2) Should I leave it with Chase to deal with, or should I move it to ETrade or something like that?
3) What if I want to buy into GE (morningstar says its a good buy right now), BA and YHOO? Who would I go with? ETRADE, Fidelity, Scottrade, or zecco?
4) Is my military TSP the same as a traditional IRA?


Sorry about the long first post, but I am sorta worried. Any help understanding this would be great.

mingster

i have no idea what a TSP is but a quick look at google shows it's kind of like an IRA but you're allowed to put in 10.5K per year pre tax. i don't suppose uncle sam would kick in any percentage like a 401K or 403b but if you can do pre-tax now put it in now.

as for your other investments, it seems that you haven't had a lot of experience (neither do i but i've been dabbling for a while now), so i would seriously consider consolidating your Roth IRA into 1 account, and from what i've read USAA seems like a good place to go. for your after tax account, if you have more than 2500 dollars (equity or cash) you can open a zecco account and get 10 free trades per month. i use zecco for my after tax dabbling and i would recommend that IF you are OK with losing that money.

here's what i'm doing and maybe that can help illustrate:

over the years i've consolidated basically all (except for one) my pre-tax IRA/403b/401K into my current 401k plan and that's where i've spent time and some effort (with the help of Magician's software) to optimize the portfolio. the zecco account i have is for play - lunch money if you will. if i made money, great, if not then oh well i had some fun. some people on the board find that disturbing but it's just the way i have it set up. i'll cry about losing 30% on GOOG but it's really like $90... i put away the maximum i can on my 401k, company matches the first 3%. i try to put away max 4K for my wife and i starting this year into Roth IRA, and i'm starting 529 for each of my kids which i get a tax credit for up to $1000 in indiana.

most of this is not rocket science. what you do with the rest of your money is probably more important than what you're dealing with here. live below your means, it's the only way to savings.

dyu626

Newbie Observation:

Just looking at ANGCX from beginning of 2006 to April '08, it seems the price is exactly the same 9.50 and 9.51, respectively.

Does that mean for 2 years... your money suffered only from inflation since it has no gains?

I don't even know if what I'm saying makes sense lol.