Talk of The Villages Florida - Moving all money .......

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Quote:

Originally Posted by Boomer (Post 2213461)

Gigi3000,

If I may, I am jumping the track a little here to offer a suggestion.......

I must give some unsolicited of advice, woman to woman. I assume you are a woman named Gigi. (I am a woman named Boomer.)

When I saw what you wrote in your post, I just have to say that if I were you, I would never mention my own numbers when talking about investments. I think it's fine to discuss investments, taxes, etc., in general, but I always keep specific numbers to myself -- definitely in real life, and on TOTV, too, even though it might feel anonymous here.

(This is not intended to be a criticism or to try to embarrass. It is just a little reminder that it is best to keep your own numbers to yourself when talking about money matters.)

Re. moving money, I think you can speak with someone at Vanguard on the phone to ask questions -- not sure about that though, but someone here will know.

If you prefer a bricks and mortar meeting, Fidelity has offices in various locations where you can line up an in-person meeting. There is an office in TV. You can also arrange for a phone call with a Fidelity advisor -- I think. I would avoid advisors in banks. But that's just my personal aversion to bank advisors showing.

Also, be careful of those guys who always want to buy you dinner first.

Boomer

PS: Don't expect tax advice from financial advisors because they are usually not tax accountants.

Yes, I'm a woman. Thanks for the tips! I'm, by nature, skeptical of people . Sad huh... ...also I actually just talked to Vanguard. i think im going to switch it over for 6 months. The only thing i forgot to ask if is each individual MM account has SPIA insurance up 500,000 if they total them all

[QUOTE=Boomer;2213972]Yep. One day I was having lunch with Mr. Boomer in my favorite back home restaurant. (Trio — for those of us from my hometown. :) )

Anyway, in the booth across from us was an older woman who was being double-teamed — not just one, but two annuity salesmen.

This was several years ago and I did not yet have silver hair, but she did. I could hear enough of the conversation to figure out she had been widowed and probably had been left in good financial shape but did not know what to do with what she had.

Mr. Boomer saw me tuning into that conversation. (Yes. I was eavesdropping but I could not help it. I accept it as my curse/gift to be able to filter conversations while still carrying on a conversation of my own.)

It was all I could do to restrain myself from moving over to sit next to her, across from those 2 “charmers” sitting opposite her in that booth and laying it on thick — with words like “guaranteed” and phrases like “no more worries.”

My skin was crawling and being who I am, it was really hard to keep myself from intervening.

(In my hometown, there are a lot of people who have worked for and have long held stock in a local behemoth that has been belching out dividends for over 100 years and has increased that dividend annually, consecutively, for almost as many years as I have been alive. Annuity salesmen just love to get their hands on those shares and they often do.)

For years, every time I have heard a woman say, “Oh I don’t know anything about all that stuff. HE takes care of it for us,” I want to scream…….

Boomer[/QUOT

When those sales people were talking to me, it made my skin crawl too. I just knew it wasn't in my best interest even though i knew nothing about annuities. Of course i read more after that, plus i talked to people here. The real tip off was i couldn't read the contract until after signing. What's the dealo with THAT!?!

Ive been doing my own investing for 15 years, inside of an IRA. This is a new ball game outside of an IRA.....its blowing my mind that what i earn each year can be taxable income. :) My fiduciary drilled that into my head. Its been a learning year!

Plus with Medicare and SS around the corner, decisions decisions, decisions ....

Quote:

Originally Posted by retiredguy123 (Post 2213438)

It sounds like you want to move out of stocks and into a 100 percent bond portfolio. If so, I would suggest that you spread the money into several Vanguard funds, such as:

Federal Money Market fund (30 percent)
Short Term Bond Index fund (30 percent)
Total Bond Market Index fund (25 percent)
High Yield Corporate Bond fund (15 percent)

Stay away from any long term bond funds, where the average bond duration is more than about 8 years. Just a suggestion.

Agreed. If one thinks that a recession is coming this year, then it is a good time to make those changes that are outlined in this post. Incidentally, I like Vanguard very much. Another possibility is about 5% of an ETF for gold and/or silver.

Quote:

Originally Posted by Caymus (Post 2213450)

Is your advisor suggesting that you should be 100% in fixed income?

If an advisor says that you should be 100% in ANY one thing, my advice would be to get ANOTHER ADVISOR.
..........BECAUSE, no matter WHAT economic projection is expected, it IS ALWAYS better to maintain DIVERSIFICATION. Since crystal balls are not available, the next best idea is to stay diversified!

Quote:

Originally Posted by Boomer (Post 2213972)

Yep. One day I was having lunch with Mr. Boomer in my favorite back home restaurant. (Trio — for those of us from my hometown. :) )

Anyway, in the booth across from us was an older woman who was being double-teamed — not just one, but two annuity salesmen.

This was several years ago and I did not yet have silver hair, but she did. I could hear enough of the conversation to figure out she had been widowed and probably had been left in good financial shape but did not know what to do with what she had.

Mr. Boomer saw me tuning into that conversation. (Yes. I was eavesdropping but I could not help it. I accept it as my curse/gift to be able to filter conversations while still carrying on a conversation of my own.)

It was all I could do to restrain myself from moving over to sit next to her, across from those 2 “charmers” sitting opposite her in that booth and laying it on thick — with words like “guaranteed” and phrases like “no more worries.”

My skin was crawling and being who I am, it was really hard to keep myself from intervening.

(In my hometown, there are a lot of people who have worked for and have long held stock in a local behemoth that has been belching out dividends for over 100 years and has increased that dividend annually, consecutively, for almost as many years as I have been alive. Annuity salesmen just love to get their hands on those shares and they often do.)

For years, every time I have heard a woman say, “Oh I don’t know anything about all that stuff. HE takes care of it for us,” I want to scream…….

Boomer

Good story lady Boomer. I hate that type of double-teaming myself. It's OK in basketball, however.

Quote:

Originally Posted by Rwirish (Post 2213573)

Not sure I would be putting all this on a social media site.

I don't see ANY problem. She has NOT said how much money she has invested and she is NOT giving out her account numbers. There is NOT a Russian financial troll behind every bush here at TOTV.

Quote:

Originally Posted by spinner1001 (Post 2213663)

Gigi:

First, I strongly suggest that you edit your original message in this thread and delete the numbers referring to your assets. These TOTV messages are public and even show up in Google searches. You can click the edit button in your first post of this thread and then edit what your wrote. If you make that change to your message, hopefully other people in the thread who quoted your original message with your numbers will do the same.

Second, since you have been to a fee-based financial planner before, talking again to them with your question is likely a very good idea since they already have some idea of your circumstances. Many personal factors ought to go into the kind of investment decision you want to make. Alternatively, Boomer’s suggestion about talking with a planner in Fidelity’s Lake Sumter Landing office might work for you. (Also, I believe that you can transfer your Vanguard funds to Fidelity without be required to move them into Fidelity funds. Fidelity can hold a person’s Vanguard funds.)

Lastly, if your original question is motivated by wanting to lower your risk to volatile stocks, be aware you may be taking on new risks by switching (e.g., inflation risk, longevity risk). A competent financial planner can help you learn and balance the risks.

Stocks are always somewhat volatile, but we are coming into a more volatile period.

[QUOTE=rsmurano;2213797]That’s been true for the last 10 years but if the economy is going to tank like 2097/2008, you will see companies stop paying dividends. Most dividends are in the 2-3.5% bracket, so with the risk of stocks/funds going way down later this year, MM funds that pay 4-5% with no risk is a no-brainer[/Q

this is my thinking too. VTSAX and VTTVX have returns at 5% plus but i sure dont see that in dividends paid. Share price makes up most of that i believe.