Vanguard?
Terry
I am a 63 year old widow, within the last seven years have become disabled due to three brain surgeries that relate to a genetic condition.
I presently have money, $55,000, with Edward Jones. I am considering moving my money to Vanguard, hoping it would be a bit cheaper and produce more income for me. Is this reasonable? What are your thoughts on Vanguard, I don’t have millions of dollars to invest, just the 55,000 I spoke of.
Terry Says
Well, it’s hard to give you advise since I don’t know what stocks or other things you have in your account at Edward Jones– and what would be the tax implications of selling. If the money is in an IRA, then you can sell everything inside it and move to their MM fund — with NO tax implications. Or you could roll the cash over to a Vanguard MM fund– but of course you won’t earn much interest in any MM fund these days.
But at this stage of your life and considering your health situation, if this is your ONLY money — the money at Edward Jones — then I would think it’s time to sell most of your portfolio anyway, because you wouldn’t want to take the risk of a bear market. So at the very least, I would suggest keeping half in cash — either at the current firm of elswhere.
