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Age 51, USN Ret. W/ Pension. No mort/CC or loan debt. 7K checking, 42 Ira's, 40K Cd's. Rate of interest on Cd's & Ira's is 4.5% & 4.62%. Was recently pitched by my Citizens Bank to early remove Ira's W/6 Mon. penalty & move them to Oppenheimer mutual fund ( W/fee ) & move matured Cd's To OPP fund also. Worried about the fact that though there is supposedly a higher return I am affraid because I could also loose the principle. I am a Ret. disabled Vet. & this is my lifes savings. Can any honest compassionate person please advise me. Thx. f/answ to prev. ? I am trying to clarify. Thx.Charles The mistake too many people make in investing is, they get caught up in the brand names for investment companies. Please don't get caught up in the brand names, rather all the good financial planners will tell you (ones who's not trying to sell their investment products) to follow the fund manager. For example, Schwab used to have a fund manager for Asia that brought them big returns, when she left, the fund went south, I forgot her name (I know she's Asian) and the new company she went to, the fund took off. So, the best thing to do is go to the Wall Street Journal, or other investment periodicals and research the best fund managers. Not the brand name of the investment company. Contact me to e-mail and I`ll give you Nr. where to contact. Higher interest is USUALLY accompanied by higher risk. I would certainly consider your portfolio 'conservative' and Capital retention, there's nothing wrong with that. |
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