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Author: trojan2plus2 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76079  
Subject: tsa account Date: 4/20/2000 2:53 PM
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I have recently retired and like some fools failed to plan appropriately. I have put some money into a tsa account with fidelity,however I don't feel the investment is providing sufficent returns at 3.5%. I can withdraw 10% per year for rollover without penalities. Currently I can withdraw $1200 and in May I can draw another 10% which will be about $1700. My question is where to put this money for now until I can amass the necessary $3000 to invest in something like the vandguard index.I am a novice and ignorant in terms of investing and any help would be appreciated.I am currently reading up on the motely fool but until I can get a grasp of the concepts.I'm swinging in the dark.
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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 21409 of 76079
Subject: Re: tsa account Date: 4/20/2000 3:16 PM
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If you're saving up for an account minimum, the safest place with the greatest yield is a money market (MM) account.

If you open an account with Vanguard Brokerage services, you can put your $1200 into their MM account, and then it will be simple to transfer to the index fund when you reach $3000.

[Aside: Don't count on an index fund for current income; it is volatile and will fluctuate drastically. You need to have a different place to invest money you'll need to get at during the next 5 years.]

Keep reading the website, there's lots of good stuff hidden around the place. One hint -- read all the way through, noting places of interest to explore later, then when you're done backtrack & branch out.

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