Ok, so I have a close friend and he’s in his 50’s. We were discussing investing in general for the first time today. He doesn’t know much about investing. It turns out his entire 401k or retirement is invested in one fund - MRLOX. He’s not even sure how he ended up in the fund but he’s there.
So I looked it up and researched it a bit out of genuine concern but knowing I will never give advice without also asking him to run it by a fiduciary ... so in my quick analysis it seems like he’s better off in a S&P 500 Index or Total Market Index. It’s not that MRLOX is a terrible fund but it hasn’t beaten the 500 Index consistently. It’s been fine recently.
What would you recommend? A 500 Index or total market index, a target fund (uggh), stay with MRLOX or pay a brokerage a 1% fee to invest for him (not that he would go for that)... Again, any recommendation will be followed with -run it by an investing professional or fiduciary. Just wanted the community’s opinion. Is there a better option for him? Oh and he’s asking for my advice. It’s not unsolicited.