Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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Moving all money .......
EDIT:I WOULD ONLY LEAVE IT IN THE MM FOR 6 MONTHS THEN BACK TO VTTVX
Should i move all funds to Vanguard Federal MM? I have it currently in VTSAX and VTTVX. I'm not the best at reading my returns but neither have paid a dividend or a very small one this year. Its an IRA. Ive been to a financial advisor but these interest rates have gone up in the last few months so i question whether i should do their recommendations at this time. Last edited by Gigi3000; 05-02-2023 at 10:54 AM. |
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#2
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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. |
#3
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Is your advisor suggesting that you should be 100% in fixed income?
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#4
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Sounds like a very very bad move. I think you should talk to several advisors and find one to manage your money and help you project your need for funds from the million. My assumption is you do not have investment skills and you need help since you are thinking of moving all your money to cash.
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#5
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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. |
#6
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OP, note that my post was based on the premise that you have already decided to move your stocks and balanced target fund into a 100 percent fixed income IRA. If that is the case, then I think my suggestions are appropriate. However, there is no way that anyone can advise you on how to structure the overall diversity of your investments without considering your total financial and life situation, including your age, income, and other assets. I am not a proponent of financial advisors, but you may need to consult with a fee only planner, who is a fiduciary and who will not try to sell you commission based products. I believe that any investor can use Vanguard products to design a retirement portfolio. You can probably get some good advice from a Certified Financial Planner who works for Vanguard. There may be a small fee. Good luck.
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#7
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No. The IRA was suppose to be all moved VTTVX
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#8
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#9
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#10
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Suggest a fee only financial advisor but talk to a couple and decide whom you would be comfortable with. |
#11
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Not sure I would be putting all this on a social media site.
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#12
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#13
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You may have a tax bill when you perform the transaction, depending upon the account type. As a corporate finance professional, I would concur with others to find a fee only CFP and have a review with him/her to better allocate your money. Retiredguy has a good recommendation for the PORTION you transfer to fixed income. The outlook for gains for this decade of equity returns are not a rosy as the prior decade. and the current outlook is not rosy either. However, not rosy just means smaller price increases / returns and should not be taken as meaning a crash. . as many histrionic black and white types might interpret. . . if worried, transfer 1/2 to MM and RUN to see a fee only CFP, and do not look at the choice as all or nothing. |
#14
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Without knowing your age, or other details, it's hard to give good advice. Someone suggested a financial planner (good idea). Depending on your age, income and other factors, maybe you should think about moving some of that money to a ROTH. I've been moving the IRA to a ROTH over the past few years and will finish up, about the time the tax rates go back up.
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#15
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With that amount just put in an interest only account, plus your pension, you are not going to starve.
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Closed Thread |
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