Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Hmm, stock market or Money Market/CD?
Old 08-14-2007, 05:44 PM   #1
Confused about dryer sheets
 
Join Date: Aug 2007
Posts: 4
Hmm, stock market or Money Market/CD?

Hi all,

I'm new here and put my current circumstance in the newbie file.

I have an immediate need for info. Have consolidated all of my IRA's and CD's to Merrill Lynch. Accounts for about $200k and the broker wants to talk to me next week about diversifying. Other than the equity in my home, it's about all I have right now at 52 and no money coming in as I've been ill and can only try to work a few hours a day, if that. :confused:

I'm thinking I would be safer in this market time to put the cash in a short term CD, paying 4.5 in my area, rather than putting it into the market on his advice.

I guess I'm more a bear than a bull, so any advice you can share to help me decide would be sooo helpful.

http://www.early-retirement.org/foru...llo-29491.html
__________________

__________________
Moneycoming is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-14-2007, 05:51 PM   #2
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
The first thing you need to do is get away from ML. The fees that you'll pay will be more than you'll earn in CD's.

Wait till the CD's expire and then move them to a place like Pen Fed or other place with higher #'s.

Move the IRA's to Vanguard where your fees will be about 75% less.
__________________

__________________
73ss454 is offline   Reply With Quote
Old 08-14-2007, 06:04 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by 73ss454 View Post
The first thing you need to do is get away from ML. The fees that you'll pay will be more than you'll earn in CD's.

Wait till the CD's expire and then move them to a place like Pen Fed or other place with higher #'s.

Move the IRA's to Vanguard where your fees will be about 75% less.
I agree - he will most likely push you to income generating vehicles for the broaker.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 08-14-2007, 06:19 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,600
Vanguard's Prime Money market is paying around 5.05%. That beats your CD rate, and no locking the money up.
__________________
KB is offline   Reply With Quote
Old 08-14-2007, 07:41 PM   #5
Confused about dryer sheets
 
Join Date: Aug 2007
Posts: 4
Ahhh, so I should get away from ML.......that's ok by me. I'll just get all of the investments into the one place and then move them.

Sounds like you are all saying MM or CD's are the way to go short-term?

Thx!
__________________
Moneycoming is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
'Money Market Substitutes' Get Hit by Subprime Woes gindie FIRE and Money 28 08-15-2007 11:00 PM
Annuities versus money market and ST bonds Rich_by_the_Bay FIRE and Money 5 02-23-2006 12:41 PM
Highest Money Market Rates? dex FIRE and Money 4 11-09-2005 11:51 AM
Stock Market from 1966-1982 - Nowhere???? Cut-Throat FIRE and Money 8 10-30-2003 05:19 AM
Money market in 401K Bill FIRE and Money 2 05-31-2003 08:15 AM

 

 
All times are GMT -6. The time now is 08:31 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.