New To Investing Thread

[ShellShock]

For instance, I have multiple holdings in several investment companies that basically hedge eachother. My healthcare fund one place has Cerner as one of it's main stocks and the other place has Epic. Those two companies are direct competitors so let them duke it out...because in the end, all it means for me is more $$$$.

Just my 

What if that industry goes belly up because of game changing technology?

Then the other holdings in my overall portfolio in tech, international, etc keep me level. By no means am I saying get into one sector and bet the farm. I'm a firm believer in making sure that i'm very spread out and diversified.

[yoga-like_abana]

For instance, I have multiple holdings in several investment companies that basically hedge eachother. My healthcare fund one place has Cerner as one of it's main stocks and the other place has Epic. Those two companies are direct competitors so let them duke it out...because in the end, all it means for me is more $$$$.

Just my 

What if that industry goes belly up because of game changing technology?

 i'm very spread out and diversified.

that's what he said

[ShellShock]

For instance, I have multiple holdings in several investment companies that basically hedge eachother. My healthcare fund one place has Cerner as one of it's main stocks and the other place has Epic. Those two companies are direct competitors so let them duke it out...because in the end, all it means for me is more $$$$.

Just my 

What if that industry goes belly up because of game changing technology?

 i'm very spread out and diversified.

that's what he said

 

[michigancat]

currently trying to roll over an old 401k from a company-sponsored to a vanguard account (something I should have done a long time ago but it was difficult, a check got lost, whatever)

setup and instructions from vanguard were ridiculously easy.
Go to the current 401k to request the distribution. Find out they don't send checks to vanguard from an online request. Fine.
Look into having it mailed to me - take several steps to get to that point. Oh, it still has my old address. eff, I need to change that
Go to personal information to update - no way to change your address - it says if you're employed, have your employer change it. If not, give the plan manager a call!
I call the plan manger. First I just ask if they can send the money directly to Vanguard. "No, we don't work with them, so we have to send it to you and then you send it in".
OK, let's change my address then. Transfer me to someone else. "OK, let me verify your information and current address"..."OK, so if you want to change your address you need to fill out a Personal Information Change Request and mail or fax it."
"You mean I can't do it online or over the phone?"
"No, this is sensitive information so we don't let you do that for security."
"So I have to mail it?"
"You can fax it, too!"

They said it takes 3-5 days to update the address, then I can try requesting a check again.

update: they still haven't updated my address

[yoga-like_abana]

currently trying to roll over an old 401k from a company-sponsored to a vanguard account (something I should have done a long time ago but it was difficult, a check got lost, whatever)

setup and instructions from vanguard were ridiculously easy.
Go to the current 401k to request the distribution. Find out they don't send checks to vanguard from an online request. Fine.
Look into having it mailed to me - take several steps to get to that point. Oh, it still has my old address. eff, I need to change that
Go to personal information to update - no way to change your address - it says if you're employed, have your employer change it. If not, give the plan manager a call!
I call the plan manger. First I just ask if they can send the money directly to Vanguard. "No, we don't work with them, so we have to send it to you and then you send it in".
OK, let's change my address then. Transfer me to someone else. "OK, let me verify your information and current address"..."OK, so if you want to change your address you need to fill out a Personal Information Change Request and mail or fax it."
"You mean I can't do it online or over the phone?"
"No, this is sensitive information so we don't let you do that for security."
"So I have to mail it?"
"You can fax it, too!"

They said it takes 3-5 days to update the address, then I can try requesting a check again.

update: they still haven't updated my address

update: they said 3-5 days 

[michigancat]

It's the third day and it shouldn't take them so long.

[yoga-like_abana]

probably shouldn't have taken you so long to roll it over either

[michigancat]

probably shouldn't have taken you so long to roll it over either

it absolutely shouldn't have, but I would have had to do an address change regardless.

[Kat Kid]

When I changed my TIAA-CREF Roth to a Vanguard Roth, I called Vanguard and then they stayed on the line and handled the transfer for me and it took maybe 5 minutes.

Funniest part?  The ceremonial script reading.

"Hi, I am _______ from Vanguard and I am on a monitored line for quality control may I ask who I am speaking to?"

"Hi, I am _____________ from TIAA-CREF and I am on a monitored line for quality control....uh nice to speak to you _______."

[michigancat]

When I changed my TIAA-CREF Roth to a Vanguard Roth, I called Vanguard and then they stayed on the line and handled the transfer for me and it took maybe 5 minutes.

Funniest part?  The ceremonial script reading.

"Hi, I am _______ from Vanguard and I am on a monitored line for quality control may I ask who I am speaking to?"

"Hi, I am _____________ from TIAA-CREF and I am on a monitored line for quality control....uh nice to speak to you _______."

tried calling Vanguard, they couldn't do it. But my address was changed! So I tried calling my old custodian to see if they could send a check directly to Vanguard.

"Um, Mr. Michigancat - did you request a check be sent to another provider, and now you want to change those instructions?"
"Yes, I requested a distribution and the check got lost - all the money is now back in my account and I want to move it to a new location."
"Well, we need you to issue a stop payment request along with new instructions for where to send the check. Do you want to mail or fax that to us?"

FFFFFFFFFF

[WillieWatanabe]

At least you know how to use the Fax machine now.

[Bloodfart]

 My financial advisor has been loosing me moneys and has ask for more access to my accounts.  She says she needs more flexibility to adjust with the markets.  What do you guys think?

[ChiComCat]

I think a financial advisor is probably a waste unless you have considerable monies

[slobber]

My financial advisor has been loosing me moneys and has ask for more access to my accounts.  She says she needs more flexibility to adjust with the markets.  What do you guys think?

A financial advisor needs no access to assist you in investing your money. I am not saying that they shouldn't have access, just that it is not a requirement. Seems like a poor excuse for losing money. If your advisor needs that fast of access, then she is trying to time the market, which is a pretty poor strategy.


Gonna win 'em all!

[sys]

My financial advisor has been loosing me moneys and has ask for more access to my accounts.  She says she needs more flexibility to adjust with the markets.  What do you guys think?

fire her and don't hire anyone else.  you don't need a financial adviser, it's super easy to invest yourself.  like Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)-level easy.

[michigancat]

got around to faxing the letter on Friday. It worked! They still haven't sent a check but I called them and they said they were working on it!

[slobber]

I am going to do some investing today. Funding Roth IRAs. Plus some other stuff!


Gonna win 'em all!

[ben ji]

I am going to do some investing today. Funding Roth IRAs. Plus some other stuff!


Gonna win 'em all!

Go get em slobber!

I just increased my 401k contributions! WOW, SUCH FUN.

[slobber]

I am going to do some investing today. Funding Roth IRAs. Plus some other stuff!


Gonna win 'em all!

Go get em slobber!

I just increased my 401k contributions! WOW, SUCH FUN.

Future ben ji will look like a stud because of that decision!


Gonna win 'em all!

[michigancat]

I got my check around the 4th of July and just got around to mailing it to Vanguard today. Hope it makes it safely. What a saga.

[meow meow]

Had a meeting with someone from the company that does our 401k, and told him I still have my old company's 401k rolled over into an Ira at another investment company.  He asked if I considered moving that money into my current 401k and I said that I hurt it was a pain in the ass to do, and he's basically going to do it for me...hope it works!

[slobber]

Had a meeting with someone from the company that does our 401k, and told him I still have my old company's 401k rolled over into an Ira at another investment company.  He asked if I considered moving that money into my current 401k and I said that I hurt it was a pain in the ass to do, and he's basically going to do it for me...hope it works!

I wouldn't do that. If you already moved it out of the other company's 410(k), then leave it in the other IRA.

I'm sorry, I guess you weren't asking for advice....GOOD LUCK! I hope it works, too!

[sys]

Had a meeting with someone from the company that does our 401k, and told him I still have my old company's 401k rolled over into an Ira at another investment company.  He asked if I considered moving that money into my current 401k and I said that I hurt it was a pain in the ass to do, and he's basically going to do it for me...hope it works!

ask yourself why he wants your money so much.

[meow meow]

Had a meeting with someone from the company that does our 401k, and told him I still have my old company's 401k rolled over into an Ira at another investment company.  He asked if I considered moving that money into my current 401k and I said that I hurt it was a pain in the ass to do, and he's basically going to do it for me...hope it works!

ask yourself why he wants your money so much.

both my IRA and current 401k are making similar returns, I think it would be smart to consolidate them so they can compound faster on a larger principal.

[slobber]

That doesn't make sense. HOPE IT WORKS!


Gonna win 'em all!