Submitted by the_beluga_whale t3_10q50su in personalfinance
Recently started my career as a RN (22F), had some expendable income and my friend recommended a financial advisor at Northwestern Mutual. I only have put $1,500 and they invested in FAGAX. Annual operating expense of 0.89%. I am extremely financially illiterate and I’m not sure if they are trying to scam me because I see other more diverse pro folio. Please advise.
wickedkittylitter t1_j6nuv75 wrote
You don't need a financial advisor and you definitely don't need to do business with Northwestern Mutual.
Read the applicable portions of this: https://www.reddit.com/r/personalfinance/wiki/index/.
Set up an emergency fund first. Then, open and fund an IRA. If you have credit card balances, pay those off.