No. of Recommendations: 0
YOU; knowledgeable and experienced practioners of the Fine Arts of Foolishness..
ME; wild eyed, bit chomping newbie whose only forays into foolishness has been a lifelong (58 year) tendency to rush in where angels fear to tread. A 15 year love affair with dollar cost averaging and mutual funds has provided me an IRA portfolio, my wife's IRA portfolio, and a non-IRA portfolio.
I like the looks of the Foolish 4 but I am not certain I have the courage to jump in totally. Also, what then would I do for the rest of the 12 or 18 month period??? I have the time and the inclination for monthly portfolio monitoring and I present the following ideas to you of the Fool's School for your comments, suggestions, criticisms or flaming barbs.
1- I open three respective accounts at Datek or Vanguard 500 Index.
2- I move the three portfolios into their respective accounts.
3- I divide each portfolio into four equal components. (or should it be six components now??)
4- On a monthly basis, I invest one of the components from one of the portfolios into Foolish 4.
5- I continue this monthly program for a year (or should it be 18 months now??) alternating between the three portfolios.
6- At the end of the year or 18 month period I have laddered myself into a fully invested, truly Foolish position and then monthly I make the required adjustments into whichever portfolio is due...keeping good records all the way....
OK ye Gallery of Fools. What do you think?? I don't have decades and decades to generate millions and millions but I do have one decade left before I will need to start tapping my nest egg. Does my plan sound reasonable and suited to my purposes? Comments or suggestions would be greatly appreciated. Sorry this is so foolishly wordy..
Keep on Foolin'
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