OT. Serious Money Question, NEED HELP.

C.P. · Feb 27, 2007

I thinking about put a large amount of money into, Mutual Service Corporation. These people invest in short term high yield stuff. They do all the work for you and keep you abreast of any situation.

My question is has anyone heard of this corporation and are they on the up-in-up. That little voice inside my head is telling me to take a step back:ughhh: .

Please, this truely is a huge move for me, any and all help would be appreciated.

thank you

gbogo · Feb 27, 2007

what amount of money are you talking about ?

the only way to get a really above average return is to have a large amount of cash or be pooled with other investors- but then a fee would be deducted.

everyday banks send out to clients a list of bonds, notes etc and the spread they trade at. thats what you need to see whether the returns offered compare to the investment

i dont get the impression you have 10 or 20 mio or you would know better in making this type of investment

if you are unsure - DONT DO IT

C.P. · Feb 27, 2007

$500,000.00....is what I'm looking at investing.

buddyboy · Feb 27, 2007

never heard of this place... that doesn't mean anything.

where is that cash now?

First step: divide it into 3 (maybe even 4) equal chunks and spread it out to DIFFERENT banks... MMA accounts.

step two: you're not gonna give anyone your whole stash... you're gonna keep 1 years expenses in an emergency fund (a bank savings account) earning enough interest to keep up with inflation, plus it should be enough to make you a decent customer of the bank you choose to get perks.

then you are going to divide up the rest between 2 or 3 different managed fund accounts... pay attention to FEE's and make sure there is no relation between the firms.

gbogo · Feb 27, 2007

honest answer thats a little too small to buy something at an optimum price

you would have to pool with other people and pay fees, get locked in and run the risk of fraud, if the people you used were dodgy

cant help at that level -- 5mio or higher is where people take an interest.

buddyboy · Feb 27, 2007

don't fool yourself... you'll have a ton of great advisors begging you for a $200,000 account... just don't give it all to one place

C.P. · Feb 27, 2007

buddyboy said:
never heard of this place... that doesn't mean anything.

where is that cash now?

First step: divide it into 3 (maybe even 4) equal chunks and spread it out to DIFFERENT banks... MMA accounts.

step two: you're not gonna give anyone your whole stash... you're gonna keep 1 years expenses in an emergency fund (a bank savings account) earning enough interest to keep up with inflation, plus it should be enough to make you a decent customer of the bank you choose to get perks.

then you are going to divide up the rest between 2 or 3 different managed fund accounts... pay attention to FEE's and make sure there is no relation between the firms.

the money is getting ready to mature from different CD's

some real nice info...thanks...I have a hard time give these people all of that cash....I smell a rat.. My accountant turned me on to these people and I need to make a decision in 2wks.

gbogo......this to me represents alot of money. I thank you for your replys and candor. :howdy:

MoneyManager · Feb 27, 2007

Anytime you hear that voice or "feel" that "step back" feeling ---- time to step back. Better safe than sorry --- especially for meaningful cash.

You are right --- good advice above.

Gotta make a decision in 2 weeks? or what?

Seymour · Feb 27, 2007

If the 500k is alot of money to you why would you put it into something high risk?

C.P. · Feb 27, 2007

MoneyManager said:
Anytime you hear that voice or "feel" that "step back" feeling ---- time to step back. Better safe than sorry --- especially for meaningful cash.

You are right --- good advice above.

Gotta make a decision in 2 weeks? or what?

Again, thanks for the replies guys I know I'm not a ""senoir member"" here but I truely appreciate and respect all your opionins.

Yes, I have to make this move in 2wks and I still have that "little voice" as I type this.:ughhh:

Seymour....
I'm not sure this would be High Risk but after todays train wreck in the market who knows.:ughhh:

This is....Mutual Fund Disclosure's

http://www.mutualservice.com/Index.aspx?ID=102

What do ya think.

thx/

sean1 · Feb 27, 2007

I'll make you 50%/year...

Sean

MoneyManager · Feb 28, 2007

Sean, I actually believe you can --- or could -- "back in the day" when we could whip money around thru Neteller in and out of books with ease.

For the numbers he is talking ----from inside the U.S. ---- pretty risky business these days.

Hoping for better times ahead.

buddyboy · Mar 1, 2007

go talk to 3 or 4 banks. tell them you have some CD's maturing and you need to park that cash somewhere SHORT TERM... make it clear to them that you are not going to put all the cash in the same bank... ask them about FDIC rules.

Tell them you are talking to several banks, only the 2 or 3 banks that pay the highest will get the money. let them know that you will be dividing the money up amongst 2 to 3 advisors for investment. Ask them for some recommendations (on top of the investment guy the bank employees)

after all that, choose the banks you like based on what they pay and who you got along with best.

then take all those advisor recommendations (you should have 6 to 10 people) and do the whole process over again.

you gotta go with what is best for you... cuz there are gonna be days you are down and the last thing you want to be thinking is that you are getting ripped off.

Keep your $$$ spread out and with people that you have checked out to the best of your ability.

buddyboy · Mar 1, 2007

opps forgot to mention... the reason I suggest going in and talking to all these people is that with each 'sit down' you'll pick up more and more information. soon it will be easy to find a common wisdom and soon you'll be able to reconize a BS artist.

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