Message Font: Serif | Sans-Serif
No. of Recommendations: 2
Hello cuda,
I just became a new fool and read your message and request for help. Several years ago I started investing as a greenhorn relying on my CPA and other financial advisors. They turned out to be wolfs in sheepskin. The best investment that I made was to spend the time and money learning how to manage my own financial assets. I've done well. I've retired at age 57 living off of my balanced investment portfolio consting of equity mutual funds and treasuries. My first advise to you is to become your own money manager, do the research on mutual funds, put together a portfolio according to your risk tolerance. Until you fully understand what you are getting into stay clear of brokers,loaded funds, annuities, partnerships, hedge funds, and any other shark infested investment. Do not jump into the market now, dollar-cost-average into it into a diversified portfolio. I do like the Vanguard funds that you mentioned. You don't like the money market yields. The yield should be at least 5%. If not, go to a bank that can give you that kind of return FDIC insured. Keep in mind that FDIC insurance covers only 100K per account. It would be better for you to park your 700K in laddered treasury bills and notes through Treasury Direct. A 6-month T-Bill yields close to 6%, a 2-year T-Note yields over 6% right now. The interest on treasuries is exempt from income tax in most States. Check out For better MM yields you could check out Also visit He hosts a two hour financial talk show every Saturday and Sunday afternoon over most of the nationwide AM ratio stations. Excellent informative and educational program. Having read the situation that you are in I can understand your concerns of being "screwed" by your "financial advisors." I went through the school of hard knocks and I know how it feels to be "taken"
Good Luck to you. If you like to chat one-on-one you may contact me directly.
Print the post  


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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.