| Investment advice website?? |
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kuli48
New Member
Cash: $ 0.90
Posts: 4
Joined: 14 Jan 2011
Location: iowa
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| Investment advice website?? |
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Is there a website that I can furnish my financial information (no account numbers) and have them tell me where they think I should put it. I have 401k, IRA, ss, pension, and other $$.
Thanks
Mike
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Sat Jan 15, 2011 7:50 pm |
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kuli48
New Member
Cash: $ 0.90
Posts: 4
Joined: 14 Jan 2011
Location: iowa
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Thank You
I am 62, wife 63, company retired me, 6 months severance, 6 months health insurance, pension $1780.(joint survivor annunity), ss- me $1658., wife $829.
company 401K (prudential) $370K, IRA- me $35.K (curian) , $5K bank cd, wife IRA $40K (curian) $5K cd.
We have a Insurance anunity $11K (tied to stock market 8%cap and no negative).
I have appx $25K in company stock, and 5 years of options worth $20k if exercised.
I owe $100k on house, worth $175K. I have a lake home worth $300K owe nothing.
Not working now, wife works part time $6000./year.
I can buy company retirement health insurance for wife and I at $1200./mo, until medicare.
$10K in cash, no car or other payments.
Thanks
Mike
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Sun Jan 16, 2011 12:33 pm |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
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Your $51,000 to $57,000 income probably suffices? Or nearly so, based on your low debt. You're great shape,
The $14,400 company insurance is no bargain, but probably what you will need to pay - there or elsewhere. So that is about $40,000 cost over the next 3 yrs until you get Medicare.
The $525,000 of liquid investments (and the $370k of real estate equity)will probably keep growing for you, even if you pull out $20,000/yr to $40,000/yr.
I would roll the 401k to a Rollover IRA at a major fund company - Fidelity or Vanguard. Invest it about 50/50 in stock index/bond fund. And I would liquidate the $45,000 of company stock over a planned schedule - 10% of your money in a single stock, especially your employer, is a risk that you don't need.
And I would try to get rid of the insurance annuity, they are most often an expensive and poor investment.
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Sun Jan 16, 2011 4:44 pm |
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yulianisakov
Member
Cash: $ 4.60
Posts: 22
Joined: 20 Jan 2011
Location: New York, NY
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| invest with direction |
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The one main thing you should concern yourself with is investing your money properly. Money won't just grow on it's own or at least it won't grow smartly. It will be misguided. You want to make sure you roll over your 401(k) plan to an IRA where you will be offered the flexibility to monitor and manage your portfolio accordingly with changing market conditions.
You should certainly talk to a financial advisor to guide you on how to manage your about $525k in liquid assets not only to make sure your portfolio is aligned with your risk tolerance, but that it is rebalanced to maintain your risk tolerance level. More importantly, ensure that your portfolio is not without direction. So when the market decides to shift you are in a position to protect your portfolio or reposition your portfolio.
Another important factor is to make sure you budget properly so you don't accidently overspend in your early retirement years. This is somethng that I've seen happen often and should be considered depending on your planned retirement lifestyle and how much that lifestyle is expected to cost.
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Thu Jan 20, 2011 6:02 pm |
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sweetdeal
New Member
Cash: $ 0.80
Posts: 4
Joined: 20 Jan 2011
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kuli48,
First thing Congratulations on your Retirement! You are Debt-Free that is Great
Now the next step is make that money work for you! Low Risk, good Returns
I agree with yulianisakov- he has some good points. But what Investments?
Make sure you are getting the right advice- there are way to many, so called Financial Experts-Where is there Money Invested? make sure you know what there Fee is ? They make money, but what happens when you lose money? Do they have Your Best interest in mind?
This is the Years you need to enjoy-
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Fri Jan 21, 2011 12:06 am |
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kuli48
New Member
Cash: $ 0.90
Posts: 4
Joined: 14 Jan 2011
Location: iowa
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Thank you to all that have giving great advice. This a great web site, I was lucky to find it.
Thank You
Mike from Iowa
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Fri Jan 21, 2011 2:35 am |
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yulianisakov
Member
Cash: $ 4.60
Posts: 22
Joined: 20 Jan 2011
Location: New York, NY
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no problem. good luck.
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Thu Feb 17, 2011 3:49 pm |
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Matthewbrown
New Member
Cash: $ 0.80
Posts: 3
Joined: 29 Apr 2011
Location: London
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you all share a great information.
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Wed May 11, 2011 11:13 am |
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