No. of Recommendations: 0
I held back answering, wanting one of the experts to come along. But, with your first post, you ought to get a quick response. Here goes.

I think full service brokers are rarely or never worth what they charge customers. "Where are the customers' yachts?" indeed. So, as I see it, the sooner you get away from them, the better. Illustrative story: a dear friend of mine and I had IRA's of about the same value two years ago. Hers is with a FSB and today has the same value as then, although she has taken nothing out of it. My IRA is with Vanguard has made more than 50% in that two year period. In my experience, FSB's are incapable of putting the clients' interests ahead of their own.

When I quit working in 1993, I rolled all of my 401k funds over into an IRA at Vanguard, in their Index 500 Fund, VFINX. The investment there has tripled without any further deposits, just reinvested dividends. My experience does not necessarily amount to advice for you, but I'll say this much -- I plan to leave all these funds in VFINX for the forseeable future, except that I may start withdrawing the dividends (or about 2%) annually now that I'm 60.


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