Well I've been ER'd for a little more than 3 months and I gotta say it's been HEAVEN so far
I worked 19 years for an ESOP company and the stock skyrocketed in the last 5 years. It is a 100% employee owned company and there is no public stock.
It's like being in a cult when you work there... They seem to think the stock will never go down, and it never has
I have a feeling things will get harder for them soon, but I don.t work there anymore...
The stock price is calculated quarterly and in the last quarter it actually went up while the rest of the market tanked
It is a steel forging company that's been in business since 1893. I was starting to get concerned that all the record profits and increasing stock price increases couldn't last forever. I was worried about having everything in one basket. While it was a great place to work and it provided me with unbelievable good fortune... The job itself SUCKED so I quit and I have no regrets
These are the rules of the ESOP concerning cashing in my company stock...
I quit on 7-18-08 I still had to hold the company stock until the beginning of the 4th quarter. This was great because while the rest of the market tanked I made almost 3% on the company stock for doing nothing
On 10-15 the stock price was quoted and my stock was sold back to the company and they are gonna put it in my 401K
It will be in my 401K until 7-18-09 they hold your money for 1 year before you can have it...
On 11-17 they are gonna put it in my 401K I think it kinda sucks they are just holding it for 1 month and I can get no return at all
But it will be in the 401K until next July then I can go to Vanguard...
In the mean time I was just wondering what you more seasoned investors would do with the $$$ in the 401K
Im 39 and I will be getting $1,928,000
Im not really very happy with any of the choices available in the 401K though...
Here they are.
American Funds AMCAP Fund A American Funds Reports AMCPX $13.29
American Funds Bond Fund of Amer A American Funds Reports ABNDX $10.85
American Funds Fundamental Invs A American Funds Reports ANCFX $27.80
American Funds Growth Fd of Amer A American Funds Reports AGTHX $23.06
American Funds Income Fd of Amer A American Funds Reports AMECX $13.98
American Funds Investment Co Amer A American Funds Reports AIVSX $22.97
American Funds Smallcap World Fund A American Funds Reports SMCWX $22.50
American Funds US Govt Securities A American Funds Reports AMUSX $13.49
Fidelity Advisor Freedom Fund 2010 Fidelity Funds -NCRF FACFX $9.40
Fidelity Advisor Freedom Fund 2015 Fidelity Funds -NCRF FFVAX $9.31
Fidelity Advisor Freedom Fund 2020 Fidelity Funds -NCRF FDAFX $9.51
Fidelity Advisor Freedom Fund 2025 Fidelity Funds -NCRF FATWX $9.04
Fidelity Advisor Freedom Fund 2030 Fidelity Funds -NCRF FAFEX $9.46
Fidelity Advisor Freedom Fund 2035 Fidelity Funds -NCRF FATHX $8.89
Fidelity Cash Reserves Fidelity Funds -NCRF FGRXX $1.00
Fidelity Retirement Money Market Fidelity Funds -NCRF FRTXX $1.00
Right now I have it set up to go all in The Fidelity retirement money market.
Id like to make enough on interest and dividends to live on next year. I want around $70,000 and Im not gonna get it with these low interest rates...
Id also like to get in the market. I wish I could have in October but they held my $$$ for a month longer than I thought they would
I want about 55/45 cash/Stocks
Should I go all in one of these stock funds at that allocation and sell in July next year and roll it over to Vanguard
Or average in...
Or just hang out in cash until I can setup my own account