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Recently I was helping a younger couple with their taxes and we ended up discussing IRAs, 529s, investing, retirement, etc. They showed me an IRA that a financial planner had set up for them and all of the investments were C class shares of various mutual funds, with a total value around $85K. They are young professionals in their early 30s with two children, with only mortgage debt and are concerned if their FP is giving them good sound financial direction.
Guess my question to the wise sages of the forum is; are C class shares a good route (the MFs are mostly a mix of American, Washington Mutual and some Fidelity Funds (all managed and no index funds) maybe a total of eight different funds) for this young couple or would a basket of some no load mutual finds or even a Retirement Date Target Fund be better ?
Appreciate any and all responses.
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