Usually I am occasional lurker but I cannot resist asking a question and showing what I don't know. In reviewing my end of the year portfolio results (and I knew this before but waited), I see that the 403(b) money my wife and I put into a Vanguard Federal Money Market Fund several years ago is now getting zero income. I also see that the fund is now closed. So, I am obviously in need of some schooling!
So is the zero rate because the Federal Reserve rate is so low? And, is the fund closed because no one wants to put their money in it anyway??
It is a small portion of my portfolio and I probably will not need the money for several years. So, any recommendations as to a fairly conservative (safe) fund within Vanguard that draws some income? It has to stay in Vanguard because if taken out, I have to pay taxes on it. I am retired and 64.
While I am not losing money (except to inflation) and occasionally over the past few years, the modest income from the fund looked pretty good compared to my equity funds. However, it pains me to see no returns and maybe no returns for the forseeable future.
So, welcome advice and thanks in advance.
Bookman
So is the zero rate because the Federal Reserve rate is so low? And, is the fund closed because no one wants to put their money in it anyway??
It is a small portion of my portfolio and I probably will not need the money for several years. So, any recommendations as to a fairly conservative (safe) fund within Vanguard that draws some income? It has to stay in Vanguard because if taken out, I have to pay taxes on it. I am retired and 64.
While I am not losing money (except to inflation) and occasionally over the past few years, the modest income from the fund looked pretty good compared to my equity funds. However, it pains me to see no returns and maybe no returns for the forseeable future.
So, welcome advice and thanks in advance.
Bookman