My mom currently has an IRA account at Edward Jones and is invested in loaded funds (5.75%) with ER's ranging from .50 to 1.0. I've been trying to explain why fees are bad, but it's been difficult, because what she has is making her money. I've also tried to explain that she's taking too much risk. I don't know her exact equity/fixedincome ratio, but it's very high in equities.
Unfortunately, she feels happy with what she has, since it has done well for her. This isn't much of a surprise because of the run up in equity markets for the last few years. And then when I talk about how much risk she wants to take, she says none...
So what I'm looking for are book recommendations that explain risk and fees in very basic terms, but is also very readable and short. I was thinking something along the lines of Coffehouse Investor, but I'm not sure she'll care for the writing style.
I'd love to hear any recommendations. Thanks!
Unfortunately, she feels happy with what she has, since it has done well for her. This isn't much of a surprise because of the run up in equity markets for the last few years. And then when I talk about how much risk she wants to take, she says none...
So what I'm looking for are book recommendations that explain risk and fees in very basic terms, but is also very readable and short. I was thinking something along the lines of Coffehouse Investor, but I'm not sure she'll care for the writing style.
I'd love to hear any recommendations. Thanks!