I have a portfolio at Fidelity and six months ago turned control of it over to their Portfolio Advisory Services. They sold off all my oil stock which did NOT make me happy and have now moved me into other investments and most are in the red. I am not good at finances and have no idea what to do and am hoping someone can help me out (I inherited it and have always been better at real estate than portfolio management).
I've expressed my dissatisfaction to the relationship officer and have gotten the usual standard responses - rebalancing it, cannot consult me before every move, etc, etc. Prior to turning it over it was doing very well, but I was 85% in stocks and with the volatility of the market, just decided to have them manage it. Now I am stuck with this portfolio that is going down.
My current situation is that I had hoped to find a way to "drop out," and I have done so for five years, but now after reading a lot of these threads I just don't have enough to continue not working. My house is paid for, car is paid for and I have no other debt. Still, what I do have isn't enough and I'd like to avoid losing more.
I guess this means I go back to work although I just cannot see myself going back into an office environment, so I am trying to completely switch careers. I won't make much, but if I go back to school for another master's degree, I could make a bit more going forward but I am talking about years here.
At any rate, I want to get a handle on this so I can preserve what I have and start adding to my portfolio instead of spending it. I'm 48, single, no kids, and have around $250k currently in it.
Thanks in advance. Any and all thoughts are appreciated.
I've expressed my dissatisfaction to the relationship officer and have gotten the usual standard responses - rebalancing it, cannot consult me before every move, etc, etc. Prior to turning it over it was doing very well, but I was 85% in stocks and with the volatility of the market, just decided to have them manage it. Now I am stuck with this portfolio that is going down.
My current situation is that I had hoped to find a way to "drop out," and I have done so for five years, but now after reading a lot of these threads I just don't have enough to continue not working. My house is paid for, car is paid for and I have no other debt. Still, what I do have isn't enough and I'd like to avoid losing more.
I guess this means I go back to work although I just cannot see myself going back into an office environment, so I am trying to completely switch careers. I won't make much, but if I go back to school for another master's degree, I could make a bit more going forward but I am talking about years here.
At any rate, I want to get a handle on this so I can preserve what I have and start adding to my portfolio instead of spending it. I'm 48, single, no kids, and have around $250k currently in it.
Thanks in advance. Any and all thoughts are appreciated.