UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: highonamt Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: investment account suggestion Date: 1/9/2004 3:31 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Where would you place about 250,000 to 300,000 (after taxes) until you decided where you wanted to invest it?
The person/couple I'm advising has a great cpa but is having trouble finding a financial advisor they feel comfortable with.
They are considering placing the money into three separate money market accounts (to avoid the 100,000 limit on insurance banks have), but I bet the Fools here have some better ideas.

The couple doesn't want to rush into bad decisions. I can't make any specific suggestions except to have an emergency fund and pay off credit cards. They have been burned in the past by Merrill Lynch (high fees and no call backs on their IRA questions)so they are slow to trust any brokerage firm.

The money is meant for retirement which might be in 8-10 years.
Asset allocation has been decided (around 25 cash,55 fixed,20 stock). And getting as much in tax free investments (roth ira, etc.) as soon as possible.
I would describe the couple as somewhere between conservative to moderate as far as investments are concerned. He has SS and a pension, she has a small IRA. She does want to place it in a different company then she uses presently. They have a house mortgage, length unknown to me.
Also while they do want to keep up on a quarterly basis what is happening with their money, they don't want to have to think about any stock investments on a daily or weekly basis. They want to enjoy life.
I'm a long way from retirement, so I feel unable to help them.

I have told them to join fool.com so they can view these boards.
Where should they place this money until they make their minds up? Also, they hesitate to place all of it in the same place.

LH
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Saul's Investing Discussions

Why Did I Buy a Bunch of PFIE Today?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement