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Contributor
i allowed your financial advisor to convince me to put Thousand into stock after it lost 400 the first week I called because I was concerned the suggested I give it a chance to come back up then it lost 600 same thing by the time I lost 800 I was told stocks go up and down . I asked him to fix it so that I did not lose any more now I'm down 1200

5 REPLIES

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phillyjo,

I am sorry to hear about your recent experience. I’d love to get you in touch with someone who can help. Please email [expired link] with your member number and contact information.

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It is really unfortunate that small investors are being forced into equities due to interest rates remanining near zero while financial institutions charge loan rates five to eight points higher than the savings rates. It doesn't take a rocket scientist to see where most of the invested money is going after a painfully slow or instant evaporation of hard-earned savings. Mutual funds in this market are not for the small investor and may never be again. The entire game has changed dramaticallly since I first started investing in 1968. There is no longer a level playing field. Rather than a percentage gained or lost in advertised funds performances I would like to see the amount earned or lost on each dollar invested, i.e. after management fees, taxes, etc. That would indicate true fund performance. A percentage is incomplete and misleading. As it is now, the investor takes the advice of a fund salesman and hopes for the best. And a lot of people wonder how they lost so much so quickly.
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Stash it in the G Fund
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I've been racked over the coal by USAA.  Since June 2014 I enrolled in "Wealth Management" or "Managed Portfolio".  I no longer believe either is true.  I have $32,500 in unrealized loss already with my Self-directed IRA.  Unless I see improvement I'm going to pull the plug on this fiasco.  The irritating things is I pay over $500 a month (1.3% fee) on this debacle.  Probably go with Charles Schwab.

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Pillijo
my experience has been similar to yours except I have lost even more money and when I called them several times with my concerns all I got were pretentious answers on why this is happpening ... but the bottom line is we should be making money in a historical UP market NO lose money!

So my advise, which is what I am doing, is getting put ouf USAA investments while you still have money left in those accounts!