I want to take the money I have in my 401K plan from where I use to work and place it into something safe until I can find a new Job. Does anyone have any ideas where or who is paying the highest interest rates. Or Which mutual fund should I choose?

Thanks,

Alicat4790

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Originally Posted by alicat4790

I want to take the money I have in my 401K plan from where I use to work and place it into something safe until I can find a new Job. Does anyone have any ideas where or who is paying the highest interest rates. Or Which mutual fund should I choose?

Thanks,

Alicat4790

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STSMX - 4% federal tax free yield, very little price movement (no risk down or no big opportunity to move up). This mutual fund can be used for IRA account. There are many other mutual funds like this one. Take your pick.

Could you give me the name of these Mutual funds that are conservative so I can take my pick my friend? I would really appreciate this. I don't know much about mutual funds or investing for that matter.

alicat4790

Quote:

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Originally Posted by alicat4790

Could you give me the name of these Mutual funds that are conservative so I can take my pick my friend? I would really appreciate this. I don't know much about mutual funds or investing for that matter.

alicat4790

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STSMX is one such mutual fund name from Wells Fargo. It's the most conservative one of 8 mutual funds I have. Search for Municipal Bond Fund on Google and you should get plenty of information on funds similar to STSMX. Do some reading and pick one you think is right for you.

You can also call Wells Fargo to discuss your options. They should have advisors who will help you.

Rkim291968:

I did a quick review of STMSX.

I am curious as to how it has a 4% federal tax-free yield since it is a small blend mutual fund which currently has no tax-free equities that I can see.

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Originally Posted by AtlantaTaxExpert

Rkim291968:

I did a quick review of STMSX.

I am curious as to how it has a 4% federal tax-free yield since it is a small blend mutual fund which currently has no tax-free equities that I can see.

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Most of STMSX holdings are County/City/State Bonds whose dividend yields are federal tax free. You still have to pay State tax. If you click on
http://finance.yahoo.com/q/hl?s=STSMX, you can see its main holdings. Sorry to lead you a little bit at a time but doing the homework is part of investing fun.
:D