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  1. Well, this stuff is officially BRUTAL. Just when I think I’m piecing together a plan, I get discouraged. I’ve spent many hours the past few days researching and calling different banks regarding my deferred-comp situation. I really like the idea of NOT putting all of my eggs into one basket so I was considering putting some of the funds into some type of US Treasury bond(s) and then rolling the rest into a FDIC or NCUA insured IRA CD. I have an existing account with a credit union that is offering the same APR for a 3yr CD that they are offering for a 5yr jumbo CD. I notice a lot of banks doing similar promotions so that folks will still buy the CDs with the option to re-evaluate the economy in 3 years instead of 5. This go me thinking that this could be the ideal short term option for me because it would allow me to put all of my eggs into one well insured basket for 3 years, without paying any tax penalties, and still making a little interest. Well, then I call another bank and ask about their different IRA funds and when I mentioned that this money will eventually be an inheritance he said “there are much more efficient ways of handling this”. Of course he did not elaborate! So was he just trying to reel me in for their “financial planning services” or am I just WAY off?!?!?! I know this is complicated, however I figure if anyone else has an even remotely similar situation now or in the future then perhaps someone on the boards here can save us all some serious cash, intimidation, and confusion. I feel like I’m getting close to at least having some tangible options on my plate to choose from. fallenlimbs@yahoo.com
  2. Thank you for the book suggestions. I also took your advise and looked into US Treasurey Bonds. I've been reading up on that. I seriously appreciate your input Steve!
  3. Thank you so much for your response Steve. I would like for the money that is currently in my 457b fund to be my son's inheritance someday. So I don't plan to spend it, I just want to park it. If it were insured where it is now (in the deferred comp) I would just leave it but I just don't want to take a risk at waking up and seeing that the bank has gone under and my money is no more. So with that, any suggestions? Thanks again!
  4. I've been retired for 4 years and just now realizing that my 457b plan is not federally insured. It's through ING. I've spent many years building up this fund (just straight interest; no investments) and I can't risk losing it. I realize that the $250,000 FDIC protection is not permanent so I'm trying to figure out the best place to put it. I'm not interested in any investments or risk. My priorities are security and then any money making potential (I know there aren't a lot of options out there for a low risker). Would 2 seperate long term CDs be wise? ANY suggestions would be appreciated. Please forgive my lack of knowledge. I'm very green to all of this. I've just treated my 457b plan as a savings account for years now. Thanks in advance!! fallenlimbs@yahoo.com
  5. Have you made any progress? I'm in a similar situation. I'm retired and just want to protect my 457b. I was considering taking the tax hit and just spliting the funds into two seperate CDs so that they would hoefully still be FDIC protected on down the line. I'm just not sure. fallenlimbs@yahoo.com
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