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Fidelity Magellan

December 11th, 2011 at 04:22 pm

I started investin in mutual funds in the 1980's. I wish I had started sooner, but I did not know much about financial things. There were NO financial books in our tiny library here. I finally subscribed to Money magazines and that is how I started learning about finances.

All of the mutual funds I started were no load funds, except one, Fidelity Magellan. The manager of that fund was so good, I decided to pay the load fee of 3%. (His name was Peter Lynch)
So, I sent off my $1000 to open the fund and paid a fee of $30. For the next 10 years, my $970 grew to over $5200.

I never never added a penny to the fund and now, after 22 years, my balance stands at just over $5200. Not too much progress over the past 12 years; as a matter of fact, no progress at all! It looks like the 90's were much better for mutual funds than the 00's of this century.

Well, the stock market went up Friday; I had a no use gas day and I got a $3 check from Pinecone. That is $6 to add to the challenge.

Prev. total $20,118.00
today 6.00
new total $20,124.00

1 Responses to “Fidelity Magellan”

  1. MonkeyMama Says:
    1323622058

    "It looks like the 90's were much better for mutual funds than the 00's of this century."

    No doubt!

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