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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: Rollover Date: 8/9/2000 9:07 AM
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Greetings, LoyceCovin, and welcome. You wrote:

<<As of this moment, where would be the best place to put a $30k plus rollover for safekeeping while I pull my act together?

I recently saw a suggestion in a Fool article, but am unable to locate it now and time is of the essence......

I can choose a discount broker and use a money market fund but don't know understand how to choose the fund.>>


Why not take baby steps first? Instead of choosing a broker at this point, just transfer the money to a no-load, low cost money market fund like Vanguard's. Then take 60 days or so to learn a few things. There's no hurry here. You have the rest of your life. The market will always be there.

I assume you're new to both Fooldom as well as to investing. That's great on both counts! You have wandered into a forum that believes you, as an individual, can do far better for yourself than most professional money managers. Provided, that is, you take some time to learn a few basic investment concepts and do some self-examination to see where you fit on the risk tolerance scale. Therefore, why not take some time now -- not later -- to be sure about what you want to do. Start first by reading The 13 Steps to Investing Foolishly, which you can find at http://www.fool.com/school/13steps/13steps.htm. You should also read the articles in our Investing Basics area at http://www.fool.com/school/basics/investingbasics.htm. These missives will suggest some important things you should consider. Then I suggest you toddle over to your local library, discount bookstore, or even here in the Fool Mart, and pick up some easily read, easily understood, inexpensive texts that will thoroughly explain how to invest in stocks using some simple systems that will take but an hour per year of your time (if you're slow) yet produce returns that put the majority of professional money managers to shame. I suggest and commend the following to you: "Beating the Dow" by O'Higgins; "The Dividend Investor" by Petty and Knowles; "The Motley Fool Investment Guide" and "You Have More Than You Think" by the Gardner brothers; "One Up on Wall Street" by Lynch; and "What Works on Wall Street" by O'Shaughnessey. All are well worth their low cost and the small investment in time it takes to read them. Get them and read them. You'll be glad you did.

While you're doing all that, also take some time to explore the various nooks and crannies of Fooldom to see what others are doing and what they're discussing. I also recommend you read my articles on "Managing Your Retirement" at http://www.fool.com/retirement/manageretirement/manageretirement1.htm?ref=G02C04. They will help give you some insight as to what you can do. In the process of all that reading, you'll gain a wealth of knowledge and information that will serve to clarify how you want to approach this very personal issue. Don't be afraid to ask a question anywhere in Fooldom. Folks around here are great about answering questions and clearing up misunderstandings.

Regards..Pixy
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