So I called Goldman Sachs today....(Way OT)

[Eagle60]

So most of you regulars know that I sold our rental 4-plex property this winter and I netted some cash. It's sitting in a money market account netting a whopping .9% at this time. I met up with an old classmate over the weekend and after a few beers the topic came up and he told me about Goldman Sachs preferred stock class A that pays a guaranteed 3.75% dividend and suggested that I stick the money there. I go on the GS website and they have about 10 different kinds of preferred stocks that go all the way up past 7% so I figured I should call them and explain to me how these things work so I did. After about a half hour I finally find someone to talk to. I explain my dilemma and he said that he needed a little more information from me because I didn't have an account with them and he wanted to get me to the right person. I asked him what he meant. "Well if you want to invest $1 to$10 million I'll send you here, $10 to $20 million....I stopped him right there. "I think I'll call Vanguard and they could answer this question for me".

[andrewaters]

That's how the rich get richer my friend.

I recently moved all my money to Fidelity, downloaded the app, and am managing everything myself.

I am buying blue chips and forgetting about it.

Plus my company's 401k is with them so that's in a bunch of high return high risk mutual funds but hey I got 25 years until I retire so that's the right strategy I guess.

[Eagle60]

That's how the rich get richer my friend.

I recently moved all my money to Fidelity, downloaded the app, and am managing everything myself.

I am buying blue chips and forgetting about it.

Plus my company's 401k is with them so that's in a bunch of high return high risk mutual funds but hey I got 25 years until I retire so that's the right strategy I guess.

That what you should do AW. I've got my IRA with about a 60/40 split in it that I'll start hitting in January. I figure that's plenty of gambling when I'll be 65. The cash that I have I need to be conservative with and that's why I'm looking into these bank proffered things that guarantee some dividends. Hell, if I had the dough these GS people are talking about I wouldn't be worrying about investing anything. I'd be paying them to guard it!!

[kyfred]

Dividends can be had with something other than GS and you can build the same portfolio they have built within your own account. Just keep in mind that your marginal income tax rate needs to be evaluated against the capital gains rate. dividends are taxes as income and stock growth at capital gains.

[Eagle60]

Dividends can be had with something other than GS and you can build the same portfolio they have built within your own account. Just keep in mind that your marginal income tax rate needs to be evaluated against the capital gains rate. dividends are taxes as income and stock growth at capital gains.

Thanks Fred. I'm planning on doing just that. Dividends are good for me in my new low tax Brackett. I've got quite a bit of room to make tax free qualified dividends so these preferred stocks sound like a good place to park cash.