Hmm, stock market or Money Market/CD?

[Moneycoming]

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.

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/forums/f26/to-all-really-smart-loving-members-here-hello-29491.html

 

[73ss454]

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.

 

[dex]

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.

 

[KB]

Vanguard's Prime Money market is paying around 5.05%. That beats your CD rate, and no locking the money up.

 

[Moneycoming]

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!