(Thom Stewart) wrote:
Right now,today, my Checking Account is over $30,000.

mm, that's a lot of money to have sitting in your checking
account.


.... Have an
appointment Monday with Merrill Lynch to make it start doing some work
for me. Also going the give Smith Barney etc a chance also.

Any suggestions? Remember I'm 80!



I've had investment accounts with both firms. A lot depends
on the local rep, but IMHO Merril Lynch is not the one to pick.


Mys Terry wrote:
It's not enough money to do any substantial work for you, Thom.

Oh yeah, just forget about it, at 5% it's only $125 month or
$1500 a year... not worth picking up off the sidewalk, huh?



... I would suggest
that you don't invest it in any way that would make it hard to access quickly
and without penalties if "something" comes up.

"something" like what?

I would suggest you stick to your internet stalking and quit
pretending to actually know anything about batteries or
money... or anything, for that matter.


Scotty wrote:
Do you have a savings account? Is it an interest earning
checking account? Is this a troll?


I don't think it's a troll, for one thing it's Ol' Thom and
for another, he just sold his boat.


Thom, at the very least, I wouldn't keep that much in a
checking account. I moved most of my money into an ING
savings account, it's at 4.25% interest today. I keep a
small amount in my local bank, checking account, just to pay
bills and such. You can withdrawal the ING money at any
time, un like a CD. I don't like taking risks , as in
playing the market. I like CDs.

There's "playing the market" and then there's investing in
it. However I wouldn't suggest Thom buy any stocks, or even
a stock mutual fund, at his age. It's the best way to beat
inflation and grow capital over a long term, but that means
a time horizon of 10 years +. If OTOH Thom is interested in
long term capital growth, a no-load index fund would be ideal.

Most banks will automatically roll over a CD and not charge
a penalty to withdraw after the first period, so if you know
you won't need the money for the next 30 days or 90 days,
that's one route. Make *sure* to ask specifically what the
bank policies are on this, and get it in writing. Another
possibility is a bond fund, either a tax-free or a US
Treasuries fund. Bond funds start paying interest the same
day you buy them, and they are very stable. The issue here
is the sales charge or load, which is why one should shop
around. Money can be pulled out of a mutual fund at any
time, so if "something" comes up, you're in clover.

DSK