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Does anyone know anything about Kades_Margolis. PSEA (Pennsylvania State Education Association) is endorsing this company. I would like to know as much as possible before retiring next year. I'll have a lump some of money that must be invested.

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Guest Sierra
Does anyone know anything about Kades_Margolis. PSEA (Pennsylvania State Education Association) is endorsing this company. I would like to know as much as possible before retiring next year. I'll have a lump some of money that must be invested.

Why don't you ask the PSEA, especially if you pay dues?

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IRA, about $100,000 from my pension. I want to make sure I invest it wisely. You know, the most bang for the buck!

 

Sierra, I've been a member of PSEA for over 30 years. I haven't been very impressed with them. Can't get real information that's in my best interest. The best part of PSEA will be when I retire. I won't be a member anymore. With the huge number of teachers we have in our union statewide and nationally (NEA), you would think it would be super strong. Just the opposite is true. The end result is that I don't have any faith in this organization, especially when it comes to managing my money. I'm only in because I wouldn't want to be without the $1,000,000.00 's worth of insurance. What a shame.

 

My question was about Kades-Margolis. Are they: Good - Better - Best and why?

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I guess when you say "pension", it is not 403b money.

 

Why do you want to pay extra money to have someone invest for you when you can, with a little education do it yourself?.............Ira

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Are you cleaning out the money that you have in your state pension fund where you would get a monthly amount sent to your each month for the rest of your life?..........Ira

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Guest Sierra

Look into the 457 plan of the state of pa. See if you can roll your pension distribution over to it. Get back to us.

 

Joel

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Sorry, maybe I wasn't very clear. Next year when I retire, I have the option of withdrawing only my portion invested into my state retirement (PSERS:Pennsylvania State Education Retirement System). Just about all retirees take their share and invest. I have the option of leaving it in the retirement system, in which case my monthly check would be increased by about $150. The negative side would be upon my death, the money stops coming. That's why most teachers here in PA take their contributions (already taxed) and invest. I know it makes sense to "wisely" invest this money. The problem is that I don't need a little education, I need a lot! Not sure how to get this information. I can search this site as well as surf the net, but is the information I'm getting in my best interest? How do I know? I personally know of too many retired teachers who lost big time because they listened to financial advisors who were very greedy. Considering this, I know of a couple of thins for sure: I want to invest my money as safely as possible with the hightst return and with the least amount of fees. I would appreciate it very much if you could point me in the right direction. I really have to start at square 1.

Sorry about the previous post. I guess it was just one of those days that I needed to vent! (maybe rightfully so)

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Hi, There is a site called www.diehards.org which is a discussiion site mainly by sophiticated investors at Vanguard, which include prominent financial authors. The discussions are very informative. Additionally, there are books recommended at the site that will educate you. I guess anything by Swedro, Bernstein or Boogle would be very informative for you. At this site there are several others that also invest on our own, and do better than those who have financial advisors, since we save a very LARGE amount of money on loads and annual expenses versus those who pay financial advisors.

 

Also, the book recommended at this site is worth reading.

 

Ira

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"I just hope that a little information doesn't make me dangerous!"

 

don't worry about that, you don't have to be a brain surgeon to learn about investing. In fact, after you read one or two of these books, you will know more than most of the "financial advisors".

 

Ira

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Guest Sierra

Serend:

 

$150 12 = $1800 per year divided by $100,000 = 1.8 percent annuity income rate. This doesn't seem reasonable. Please check the amounts. The $100,000 withdrawal is much too high or the $150 of monthly income is much too low. A ballpark annuity income rate would be about 8-9 percent. Please get back to us.

 

Peace and Hope,

Joel

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I have the option of withdrawing my share or the amount I deposited into my retirement. This amount is $100,000. The remaining shares (deposited by my school district, the state of Pennsylvania, and all interest for the past 32 years) must remain.

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Is the amount that you would receive on the $100,000 correct at $150 per month? Are there other investment options for the money that you invested in your pension?

 

Double checking,Is the 100,000 that you would receive in deferred money, and not a taxable event?

 

Ira

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Guest Sierra
Serend:

 

$150 12 = $1800 per year divided by $100,000 = 1.8 percent annuity income rate. This doesn't seem reasonable. Please check the amounts. The $100,000 withdrawal is much too high or the $150 of monthly income is much too low. A ballpark annuity income rate would be about 8 percent. Please get back to us.

 

Peace and Hope,

Joel

Serendipity, Your response would be appreciated.

 

Joel

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