twoweeled
Well-Known Member
I'm still in the self managed account. What hoops did you have to jump through, to get out? Of course I have to liquidate, but after I'm all in cash (while I still have some).
Self Managed Account?
- Thread starter Overpaid Union Thug
- Start date
I just called them up and had it transferred back . they were very helpful on the phone
twoweeled
Well-Known Member
As I recall, there was a $75 yearly fee? I'm not sure of the amount, but I know there was a yearly fee. I figured that might be a problem to stop. Thanks for the info.
Ms.PacMan
Well-Known Member
Make sure you're on the full-site vs. the mobile.
olroadbeech
Happy Verified UPSer
I like the SMA. We bought high yielding blue chips that basically pays for our phone and other utilities with the dividends . also purchased ultra low cost index funds from Vanguard.
our performance from the SMA is usually better than the 401k.
our performance from the SMA is usually better than the 401k.
UpstateNYUPSer(Ret)
Well-Known Member
How are you able to use the dividends from the stocks within your SMA to pay personal bills?
You can have your dividends put into a money market account and then take a distribution.
UpstateNYUPSer(Ret)
Well-Known Member
Did not know that. I have always used the dividends that I get from apple to buy more apple stock. I can usually buy 3-4 shares every quarter from the dividends alone.
You have the option to reinvest them or take the dividend. Not sure if you can split it or not.
twoweeled
Well-Known Member
That's the sort of info I need to know!
Glad it was helpful
olroadbeech
Happy Verified UPSer
i reinvest the dividends. but the way i look at it my phone, utilities , gasoline , etc is being paid by the stock dividends . the stocks earned the money, i didn't have to earn it. that's what i meant.
l learned a long long time ago to make my money work for me. learned from " Greatest Salesman In The World." and similar books.
olroadbeech
Happy Verified UPSer
are you market timing? or real close to retiring? some guys at work did that after the downturn in 2008 ( bad timing ) and got back in to late. their money has come back but not as much if they had just let it stay.
if you have a ways to go till retirement it is best to let it ride. with dollar cost averaging you will come out ahead in the longer run.
UpstateNYUPSer(Ret)
Well-Known Member
You actually have to call to activate the SMA----1-800-537-0189.
1989
Well-Known Member
Thanks, you used to be able to do it on their site when they were pushing it.
UpstateNYUPSer(Ret)
Well-Known Member
That was back when they were State Street.
1989
Well-Known Member
Have about 20 years before I retire, but 3-4 til I can collect my pension and leave UPS.
I am probably trying to time it. I got out at about 2100 and back in about 1900. I think we are in the top of the trading range. Today CNBC was saying how great things are, so I felt it was a good time to get out again. If I'm wrong, oh well.
1989
Well-Known Member
Seems like they really pushed it.
olroadbeech
Happy Verified UPSer
well good luck. i'm retired and letting the 401k ride for several more years since the pension is all i need at the moment. back in 2008 the market dipped to 6600 and we lost about 30% on paper. but since then our 401k has more than doubled because we let it ride since we thought we had 10 more years before we would need it .
I read Paul Krugman's articles on the NY Times website. he seems to know more than the average talking head. most of the economic indicators seem to be strong. I agree with most that 2016 will be a flat year. the election is causing a lot of anxiety because of our choices, cough cough.
it could all go to hell though. past performance does not predict future results. that is why we hedge our bets with a precious metals index fund thru Vanguard and a REIT also thru Vanguard. these tend to do well when the S&P goes down.
diversify diversify diversify
