Reserve Management "bond" fund is a money market fund
Phil,
It sound like the money was moved into the Reserve Fund, the money market fund that "broke the bank" when Lehman Brothers was allowed to fail. That's not a bond fund, but a money market. The Government stepped in and protected owners of other money market funds, but they didn't make the protection retroactive. They stepped in after this money market fund failed. That's not fair.
My hope is that when the fund returns 97 cents on the dollar, that small investors like me will get 97 cents, plus the 3 cents that TD Ameritrade has promised to donate. What if some investors get 100% and the last to get out get nothing? That is what scares me.
Carrie
of IL
@
Nov 01, 2008 08:55:18 AM
Hmm. I understand that you could not access the money without paying a fee or penalty, since it's in a tax-protected retirement account, but I do not understand why you would not be able to move this money into the investments of your choice. You should be able to do that. Although if you missed out on the stock market of the last couple months then you definitely lucked out.
Kimberly Palmer
of
@
Oct 24, 2008 15:59:27 PM
TD Ameritrade / IRA Rollover
I did this, rolled my 401K (from a past job) into
a TD Ameritrade IRA Rollover.
My Financial Counselor recommended that I 'park'
the money in a Reserve Management bond fund, which
Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Send your personal finance questions to her for expert money advice.
Carrie of IL @ Nov 01, 2008 08:55:18 AM
Kimberly Palmer of @ Oct 24, 2008 15:59:27 PM
Phil Brooks of FL @ Oct 24, 2008 15:13:40 PM
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