Loading…
21
Moved $8,000 from my Chase savings to a Vanguard index fund last month, now I'm second guessing it
I had about $8,000 sitting in a Chase savings account earning almost nothing, so three weeks ago I moved it into a Vanguard index fund instead. My brother keeps telling me I should've just opened a high yield savings account at like Ally because the market could drop any time. I know banks are safer but the growth on the fund has already been better than what I'd get in a year at Chase. Has anyone here made a similar swap and regretted it, or did the broker route work out fine for you?
1 comments
Log in to join the discussion
Log In1 Comment
annaw413d ago
My buddy did almost the exact same thing a couple years back, moved around 6 grand out of his Wells Fargo savings into a Vanguard total market fund. Like two weeks later the market dropped maybe 8% and he was sick about it, kept checking the app every day. Fast forward to now and he's up way more than any savings account would've paid him, and he stopped caring about the dips. Only thing he says he'd do different is keep a few months of cash in a regular savings account first so he's not tempted to sell when things get bumpy.
4