Three years ago I met with a financial planner who is a family friend that set me up with a Roth IRA at Franklin Templeton. Since then, I've been contributing the max each year. At the time I didn't really know much about investing, I just had a large amount of money that I didn't want sitting in a HYSA. But for the pats year I've tried to learn more about investing, and I feel like I'm wasting time (and money) by sticking with Franklin Templeton.
I am currently invested into two mutual funds, FGRAX and FRDPX, and I am not happy about the performance the past few years. I know that the whole point of an IRA is that you keep chucking money into it until retirement and you shouldn't be watching performance too closely, because "it'll go up". But man, this is just depressing looking at those funds' performances. FGRAX is down 19% over the last 5 yrs and FRDPX is only up 6%. I would've made more money if it just sat in my HYSA!
I am considering moving my Roth IRA to Fidelity as I am more impressed by the performance of FSKAX and FXAIX. Plus, this past year I got my first real corporate, big boy job and the 401K from that is at Fidelity already. Maybe the issue is that I was only invested into mutuals, when I should've had some portion of it in an index fund?
I am still learning about investing and what would be best for me/my goals, so I could be making a wrong decision here. But I know that I plan to keep contributing the max each year, and I want better returns. What do you think? Should I just transfer it over to Fidelity? Any potential issues about this idea that I should know about? I feel like sticking at Franklin Templeton would just be a sunk cost fallacy.