A year or so ago I met with wealth advisors who promptly sold some of my tech stocks and funds. I am 68, and was about 80% invested in tech. Fortunately I hung onto my best, QQQ and FSELX, that I’ve had since 1999. Most of them heavily duplicated each other after a couple of decades, so it made sense to sell off a couple.I get that it’s risky for me to be so heavily in tech at my age. But they bought some bonds (DODIX, JMSIX) and others that immediately went red, and have remained red ever since. I’ve lost about 40k on the stuff they bought. I know nothing about bonds, although I did buy an I-bond. Those I understand, you buy X amount and they pay X% in interest after X time.
I went in the app today and canceled the reinvestment options on everything they bought:
JMSIX
DODIX
VTIP
VWO
VEA
VHT
FNDX
FNDF
PGX
SCZ
GLTR
DVY - the only one that’s slightly green, and of course, is the one they bought the least of.
I just don’t see any point in reinvesting in losers. I can take the dividends and at least buy a CD that will pay 5.35%. Am I right? I fired the advisors, too. I‘ve been reading here for a couple of years, and would be so happy to get some feedback. I know so little, only that tech stocks have been very very good to me.
[link] [comments] https://www.reddit.com/r/stocks/comments/14ne9y3/reinvesting_into_losers/
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