Transferring pension into ira

[connie333]

[/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)?

 

[Antigone*]

[/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

 

[anteater]

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.

 

[Antigone*]

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!!!

 

[tranquility]

Um, aren't the criteria:

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.

 

[Antigone*]

Um, aren't the criteria:



Even a Barron's top pick is not always the best for mom and pop.

Das ist true

 

[anteater]

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?

 

[Antigone*]

How much did Barron's charge?

Hey Ant....she's got some GM preferred she'd love to unload on you.

 

[anteater]

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:

http://www.comedycentral.com/videos/index.jhtml?videoId=11887

 

[anteater]

Sorry, Connie.

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

(You have to have been there to understand...)

 

[Antigone*]

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

 

[Country Living]

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.