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Subject:  Re: opinions requested Date:  12/21/2002  7:49 PM
Author:  TheTortoise Number:  8238 of 19766

Lucy and all,

When I retired, I went through the same simplification/consolidation procedure for my financial accounts as you are doing. After extensive comparison, I put everything into one account with TD Waterhouse (TDWH), and have been quite satisfied for more than four years. Not only have I never paid them a cent in service charges, but they pay me money market interest rates on my checking account, and I earn free trades. Here's my system.

All of my investments are in a TDWH brokerage account. I have the dividends automatically deposited to the attached cash sweep account which earns money market rates. I selected their government money market because this is my safe money. I keep three-to-five years living expenses out of the stock market, in this cash account. (Yes, I know I might eke out a slightly higher return by putting some of it in bonds, but I prefer the simplicity