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  #1  
Old 05-19-2009, 01:29 PM
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Transferring pension into ira

[/b]What is the name of your state (only U.S. law)? PENNSYLVANIA

Hi,

I am receiving a lump sum pension amount of about $11,000. I want to put this money in an IRA of some sort to avoid taxes. I am 57 years of age.

Where do you recommend I place this money for the best growth? I know VANGUARD is secure, but I am not sure where I will get the highest rate for my "small" investment. I have decided to take a lump sum as I am single and should somthing happen to me that money is GONE as I cannot list anyone else to inherit the money.

Thank you for your recommendation and assistance.

TrudyWhat is the name of your state (only U.S. law)?
  #2  
Old 05-19-2009, 02:14 PM
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Originally Posted by connie333 View Post
[/b]What is the name of your state (only U.S. law)? PENNSYLVANIA

Hi,

I am receiving a lump sum pension amount of about $11,000. I want to put this money in an IRA of some sort to avoid taxes. I am 57 years of age.

Where do you recommend I place this money for the best growth? I know VANGUARD is secure, but I am not sure where I will get the highest rate for my "small" investment. I have decided to take a lump sum as I am single and should somthing happen to me that money is GONE as I cannot list anyone else to inherit the money.

Thank you for your recommendation and assistance.

TrudyWhat is the name of your state (only U.S. law)?
I'm sorry Connie, but this isn't the right forum for your request. It would be to your benefit to seek this type of information from a well-trusted financial advisor ~ not an internet forum.

Your money is too important to trust someone you don't know. If you have a relationship with a bank, go into your local branch and ask to speak with an investment advisor.

take care, ana
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  #3  
Old 05-19-2009, 06:08 PM
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Your money is too important to trust someone you don't know. If you have a relationship with a bank, go into your local branch and ask to speak with an investment advisor.
ana - I agree with your first sentence. And I know that you are (were?) associated with banks...

But, God no. Stay away from bank "investment advisors"! The probability of finding one that knows their rear from a hole in the ground is about 5%. If you are lucky, you will only get sold a bunch of loaded mutual funds. If you aren't, you will get sold an annuity that neither you nor the "investment advisor" understands.
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  #4  
Old 05-19-2009, 06:13 PM
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Originally Posted by anteater View Post
ana - I agree with your first sentence. And I know that you are (were?) associated with banks...

But, God no. Stay away from bank "investment advisors"! The probability of finding one that knows their rear from a hole in the ground is about 5%. If you are lucky, you will only get sold a bunch of loaded mutual funds. If you aren't, you will get sold an annuity that neither you nor the "investment advisor" understands.
The FA sitting beside me just fell off her chair. btw...she was named one of Barron's top 100 Advisors for 2009!!!

Ant...I'd never sell you a loaded mutual fund (I'm not licensed) but if you ever loan for a comml building I'm your gal We can talk SWAPS ~ that will make your head spin!!!
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Last edited by Antigone*of*Greece; 05-19-2009 at 06:19 PM.
  #5  
Old 05-19-2009, 06:33 PM
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Um, aren't the criteria:

Quote:
The ranking reflects the volume of assets under team management, the revenues generated for the firms from these assets and the quality of the advisors' practices.
Even a Barron's top pick is not always the best for mom and pop.
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  #6  
Old 05-19-2009, 06:39 PM
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Originally Posted by tranquility View Post
Um, aren't the criteria:



Even a Barron's top pick is not always the best for mom and pop.
Das ist true
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  #7  
Old 05-19-2009, 06:50 PM
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Quote:
The FA sitting beside me just fell off her chair. btw...she was named one of Barron's top 100 Advisors for 2009!!!
How much did Barron's charge?
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Arthur Carlson: Yeah, but this time it's appropriate.
  #8  
Old 05-19-2009, 06:54 PM
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Originally Posted by anteater View Post
How much did Barron's charge?
Hey Ant....she's got some GM preferred she'd love to unload on you.
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Dang the Persephone for eating those pomegranate seeds. It is because of her urge to snack that we must suffer through the winter that will soon be upon us.
  #9  
Old 05-19-2009, 07:02 PM
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Originally Posted by Wirelessany1 View Post
Hey Ant....she's got some GM preferred she'd love to unload on you.
Forget the preferred. I'm buying one of the plants.

I always recommend this firm:

[url]http://www.comedycentral.com/videos/index.jhtml?videoId=11887[/url]
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Arthur Carlson: Well, first thing we do is call an attorney.
Andy Travis: You always say that.
Arthur Carlson: Yeah, but this time it's appropriate.
  #10  
Old 05-19-2009, 07:06 PM
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Sorry, Connie.

We're all suffering from a "Seattle Slew Hangover."

(You have to have been there to understand...)
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Arthur Carlson: Well, first thing we do is call an attorney.
Andy Travis: You always say that.
Arthur Carlson: Yeah, but this time it's appropriate.
  #11  
Old 05-19-2009, 07:07 PM
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Originally Posted by anteater View Post
Sorry, Connie.

We're all suffering from a "Seattle Slew Hangover."

(You have to have been there to understand...)
I think the slewmeister's been put out to pasture
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Dang the Persephone for eating those pomegranate seeds. It is because of her urge to snack that we must suffer through the winter that will soon be upon us.
  #12  
Old 05-19-2009, 11:07 PM
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Originally Posted by anteater View Post
Sorry, Connie.

We're all suffering from a "Seattle Slew Hangover."

(You have to have been there to understand...)
It's just something Excedrin can't cure. Unfortunately he's not gone. Yet. I think I hear the clock ticking.
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Apparently others (those who have obviously received no further education than a diploma or more likely a G.E.D) quitting a sorority does not implicate you have quit college. ....I am receiving my masters in Communication in two weeks.

Private message from dolly a few days later: "when did communications have anything to do with grammar and puncutation."
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