Jill on Money: #97 Are you ready to invest your cash?
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Just as the S&P 500 index settled at five-year highs, investors poured $7.53 billion into stock mutual funds in the week ended January 9th, the largest amount in over a dozen years, according to Lipper. Additionally, investors pumped $10.78 billion into stock exchange-traded funds, for a total of $18.32 billion into stock funds overall, the biggest lump sum of cash into the asset class since mid-2008.
The data confirm what we are hearing from listeners: people want to know what to do with their cash? Barbara from Kalamazoo and Dorothy from CO both need to make investment decisions about lump sums of cash. You may be surprised that while the advice for both is the same, the rationale is quite different.
John and Joe from Buffalo, as well as and Randall and Lin are seeking input on types of financial advice. The bottom line choice is between a fee-only or fee-based advisor and doing it yourself. Only you know whether you have the time, energy and discipline to do the job.
We covered the taxation of annuity payments for Dan and Social Security questions from Joseph and Paul.
For Joy and other listeners, who have been waiting for news on the big mortgage abuse settlement, check out this TV segment outlining the terms of the deal and what you need to know:
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