Retirement investment advisor David Gollnick has been talking about his best-suited retirement account since 2013.
And he’s never had a problem getting the money to go where he needs it.
He’s been using his retirement account to buy and sell stocks, mutual funds, and more.
He even launched his own brokerage business, which he says has outperformed the stock market for years.
But when Gollnik had to sell his hedge fund because of low returns, he started looking for a better place to put his money.
Gollniks account was created in 2009, and he has invested nearly $2 million in it.
Gollnick, who has a master’s degree in economics from the University of Minnesota, says he was able to buy out the investment advisor that was part of the fund and make a profit.
“I just thought, I can make a big investment, and that’s what I’m doing,” he says.
And his best investments are in the stocks and mutual funds that he invested.
He says that, while he can get some big returns, those are generally smaller than the average return he would expect from an IRA, which has a lower cost-of-fund ratio.
Golls portfolio is the size of a typical IRA, and it covers about 30% of his assets.
“When I started the account, I thought it would be about $300,000, and I guess it was closer to $400,000 by now,” he tells Mashable.
“But now, it’s about $1.6 million.”
For investors looking for lower-cost retirement accounts, there are several online retirement products that can help you set up an IRA for under $5,000.
Some of these companies, like iShares, offer low fees, high savings, and other benefits, but there are also many brokers and mutual fund companies that can offer even lower costs.
Gilliam, the investment manager who helped Gollnicks fund, says that a $500 investment is often better than a $10,000 investment, because of the lower cost of funds.
And with a small amount of risk, there is often no real downside.
Golls best investment so far is a mutual fund that he’s been holding on to for more than a decade, and when he sold it, he made $1,100.
“It’s been a great investment,” he said.