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Old 09-07-2020, 05:58 PM   #21
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Originally Posted by mickeyd View Post
That's a bunch in cash. PMMF is yielding about .04bps. Why not stash part of it in a CD getting 1.00%+?
Well, you inspired me to poke around a bit as I do want immediate access to this cash until I define my retirement portfolio strategy. I just noticed Capitol One has a 360 savings account which is yielding 0.65% so looking into that as an option.
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Old 09-07-2020, 06:00 PM   #22
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Originally Posted by Markola View Post
I’ll be a voice for talking with a Vanguard adviser, and only a Vanguard advisor. The accumulation phase for us was as simple showing up for work everyday and automatically saving through payroll plans for 28 years. I left at 54 and found the spending phase entirely different mentally, now that we needed to depend on the portfolio for life. Also, I’m married to a lovely woman who cares not for financial topics except the spending part. I wanted neutral and knowledgeable help to navigate the spending phase discussions with her, without me and my frugal nature controlling everything, which seemed like a fraught future.

For these and many reasons I picked up the phone and we talked with Vanguard Personal Advisors. We liked what we heard about their “Dynamic Spending” approach, which is much more surgical than a blunt 4% Rule, their proprietary software and, of course, how everything meshed perfectly with our Vanguard funds and the Vanguard philosophy. Everything is transparent and in alignment with our interests, and we’ve never been screwed over with a fee we didn’t understand nor sold some insurance product or whatever. VPAS works like the rest of Vanguard, i.e. a co-op in which we are part owners.

I could go on but, in sum, it’s a huge relief to talk with our advisor a couple of times a year to advance a plan that DW and I both are bought into. For any retirement question, Vanguard has a questionnaire to work through and discuss with our assigned advisor to determine a reasonable answer, which goes into our plan. Obviously, I have confidence in this particular system. I know that most others on this board are reflexively against hiring advisors in any form, and some even prefer to be their own accountants and real estate agents and they know as much about insurance and annuities as a trained agent. I do not care to learn all that stuff and my DW does not either, so we couldn’t be happier with our relationship and think we get enormous value from it.

In answer to your question about retirement income strategies, I can endorse that you at least talk with Vanguard Personal Advisor Services about your $3 million, which is a considerable responsibility and nothing to sniff at. Good luck and YMMV.
Thanks for the feedback and it doesn't hurt to explore their offering. Being a longtime Vanguard investor, I have always been pleased with their services.
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Old 09-07-2020, 06:37 PM   #23
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Well, you inspired me to poke around a bit as I do want immediate access to this cash until I define my retirement portfolio strategy. I just noticed Capitol One has a 360 savings account which is yielding 0.65% so looking into that as an option.
Another option, albieit not FDIC insured and with more credit risk in theory, is Dominion Energy Reliability Investment. I haven't pulled the trigger on it yet. It looks like a money market fund that Dominion Energy uses in lieu of issuing commercial paper.

https://investors.dominionenergy.com...t/default.aspx

Dominion Energy Reliability Investment (DERI) is a program through which can make direct investments in new debt obligations of Dominion Energy. Under this program, Dominion Energy borrows directly from the investor in the form of demand notes. Investors receive a competitive floating rate of interest that may be higher than short-term CDs and money market funds. However, the credit rating of Dominion is slightly lower at BBB.
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Old 09-07-2020, 08:00 PM   #24
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DERI has the following statement on their site:

Relax - your investment is backed by the reliability and financial stability of Dominion Energy.

Considering the dilemma of PGE, I expect these notes to be wiped out if it should happen with Dominion.

I have a bit of the common stock which pays 4.79%. I am very receptive to this sort of corporate note but my risk tolerance is limited to 1-2% of my nest egg. What is your comfort level? I know many would say zero.
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