Hi All,
Recently read "The Simple Path to Wealth" by JL Collins and needless to say it had an effect on me. Today I ended a 20 year relationship with my financial advisor and decided to take my investments in my own hands. The advisor has been "taking care" of my family since before I was born so naturally I inherited him too. He's got me in several different funds and I'd like to reallocate these funds into an Index fund, preferably FZROX. That being said I'm sure there are some tax ramifications of doing so and I want to make sure I don't do anything too sudden before consulting the MMM community. Below is my allocation
Here's a link to my Case Study I recently posted about a week ago, if you're interested for the full details:
https://forum.mrmoneymustache.com/case-studies/case-study-new-chapter-financial-plans-moving-forward/For those not interested in that much information:
Location: Texas (No state income tax)
Age: 30
Marital Status: Single
Kids: None.
Mutual Funds:1. AMEFX (American Income Fund of America CL F2) $31,358.98
2. FIIMX (Fidelity Advisor Mid Cap II CL I) $6,972.32
3. SMCFX (American Smallcap World Fund CL F2 $5,517.57
Total: $43,848.87
Traditional IRA:1. FANIX (Fidelity Advisor Energy Fund CL I) $6,949.74
2. FGADX (Franklin Gold and Precious Metals Adv CL) $11,734.99
3. FRIRX (Fidelity Advisor Real Estate Income I) $7,649.57
4. VARBX (First Trust Merger Arbitrage Class I) $3,048.01
Total: $29,382.34
**The rest of my assets are listed in the link above.**Questions:
1. I'm assuming there will be tax ramifications for reallocating although I'm not 100% sure on that. If there is, is it worth reallocating at this point given the amount of investment years ahead of me?
2. My brokerage is Fidelity and i'm aiming to reallocate all of these dollars into FZROX (Fidelity's version of the VTSAX). Is there anything special I need to know when completing these transactions online?