Investment Advice
#6906656
06/21/20 09:35 PM
06/21/20 09:35 PM
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Joined: Dec 2006
Posts: 19,930 SEPA
Lugnut
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 19,930
SEPA
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I'm a long-term investor. I typically buy a chunk of shares in a DRIP or invest in a mutual fund, set it up for the dividends to automatically reinvest then forget about it for a couple of decades.
Recently Wells Fargo sent me a letter concerning a large cap mutual fund that they claimed was inactive and in danger of being seized by the state. I called them and ask why, after twenty-plus years, I was receiving this type of notification? The person I was talking to gave me some bullcrap explanation. I ask her why none of my other DRIP's or mutual funds handled the same way were sending me these types of letters. I got another bullcrap explanation.
So I directed her to initiate a 100% redemption, closed the account.
So now I have this chunk of money I need to reinvest.
It's been a while since I've invested in anything new and I know from reading posts here there are some very savvy investors on Tman.
Keeping in mind that this will be a long-term investment, where should I put this money?
Eh...wot?
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Re: Investment Advice
[Re: Lugnut]
#6906671
06/21/20 09:41 PM
06/21/20 09:41 PM
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Joined: Dec 2006
Posts: 19,930 SEPA
Lugnut
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 19,930
SEPA
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You've gone public already?
Eh...wot?
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Re: Investment Advice
[Re: Lugnut]
#6906707
06/21/20 10:00 PM
06/21/20 10:00 PM
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Joined: Dec 2006
Posts: 19,930 SEPA
Lugnut
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 19,930
SEPA
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I’m already in oil, Chevron-Texaco.
Eh...wot?
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Re: Investment Advice
[Re: Lugnut]
#6906773
06/21/20 10:39 PM
06/21/20 10:39 PM
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Joined: Dec 2013
Posts: 9,295 Northern MN
Osky
trapper
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trapper
Joined: Dec 2013
Posts: 9,295
Northern MN
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I won't give you advice Lug... I will tell you Vanguard has been very lucrative for me over the years. Check out the different options they offer, don't put it all into one.
Osky
"A womans heart is the hardest rock the Almighty has put on this earth, and I can find no sign on it" Jabless in Minnesota www.SureDockusa.com
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Re: Investment Advice
[Re: Lugnut]
#6906791
06/21/20 11:07 PM
06/21/20 11:07 PM
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Joined: Dec 2012
Posts: 6,501 Wi.
Diggerman
trapper
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trapper
Joined: Dec 2012
Posts: 6,501
Wi.
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Re: Investment Advice
[Re: Lugnut]
#6906805
06/21/20 11:18 PM
06/21/20 11:18 PM
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Joined: Dec 2011
Posts: 10,308 MT
snowy
trapper
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trapper
Joined: Dec 2011
Posts: 10,308
MT
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I would put it in a financial company in their MM account for a holding/parking spot for now. I don't know who you are with now but there are many trusting company's. I wouldn't pay an advisor for investing but sometimes the help has been a wise move for some. You can invest and manage the funds yourself and safe fees etc..
Now, with parking it in a MM Fund with the company you want to do business with, you can gradually buy and diversify in funds that they have. It can buy you sometime and still make a small amount while you study, which funds and when you want to start buying back in.
Right now where I do business there isn't any deals for buying funds things are high and markets are a risk right IMO. The fund heads are saying it is very risky right now, but a hold and wait and hopes for a less bumpy road.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
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