If you’re saving monthly into an active fund - please stop doing so. Research shows that they consistently underperform and that they are not worth the fee they’re charging.
Buy a cheap, broad index fund instead.
Why YSK: an actively managed fund has no guarantee to be better than a cheap passive one (Someone in the comments called it a mutual fund? I’m not natively English so not sure about the terminology) but at a 1.25% fee - over 30 years around 30% of the return will have been swallowed by the fees. Banks don’t make money from the cheap passive funds so they will be pushing the expensive ones even though it goes against all the research. They are not interested in making you rich.
Yup, I always tell friends/relatives this.
Just pick up a mix of the below and set it & forget it.
80/90% of funds into these:
10/20% into individual companies you like.
I think it’s helpful to put some money into individual stocks that way you get a feel/understanding of the market. Plus I feel like they will be more invested/interested in learning when it’s a single company vs ETF of 500+ companies.