What would you do with 1million

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yitzchakdov
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What would you do with 1million

Post by yitzchakdov »

Have approx 1million from called New Jersey muni bonds. Want to diversify away from NJ. Any suggestions?
richard
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Re: What would you do with 1million

Post by richard »

yitzchakdov wrote:Have approx 1million from called New Jersey muni bonds. Want to diversify away from NJ. Any suggestions?
One of Vanguard's national muni funds would be the simplest approach.
Louis Winthorpe III
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Re: What would you do with 1million

Post by Louis Winthorpe III »

I would invest in Lifestrategy Growth.
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LowER
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Re: What would you do with 1million

Post by LowER »

3 or 4 fund portfolio and call it a day.
Johm221122
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Re: What would you do with 1million

Post by Johm221122 »

Invest it according to my IPS
http://www.bogleheads.org/wiki/Investme ... _statement
Is this money for retirement?one goal, one portfolio

http://www.kevinoninvesting.com/2012/04 ... o.html?m=1
John
Topic Author
yitzchakdov
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Re: What would you do with 1million

Post by yitzchakdov »

This is part of a 28 million NJ muni portfolio of which 4 million is in VNJUX, the rest in individual muni bonds. Retirement funds in individual corporate bonds. I'm 58 years old, working a bit less and have more time to think about this
IMD801
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Re: What would you do with 1million

Post by IMD801 »

So very tempted to quote Office Space.
Grt2bOutdoors
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Re: What would you do with 1million

Post by Grt2bOutdoors »

Vanguard Intermediate Tax-Exempt fund

On a related note - I hope you have a comprehensive estate tax plan in place, otherwise NJ (and the Feds at a much higher level) will take a nice chunk after the first $675K at death.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
The Wizard
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Re: What would you do with 1million

Post by The Wizard »

$28M is a lot for a person your age. Earned assets or inherited?
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SteelyEyed
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Re: What would you do with 1million

Post by SteelyEyed »

IMD801 wrote:So very tempted to quote Office Space.
lol. Somebody else asked the same question once. I replied with what I believe is the same quote. A moderator deleted it. :D
Retread
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Re: What would you do with 1million

Post by Retread »

yitzchakdov wrote:This is part of a 28 million NJ muni portfolio of which 4 million is in VNJUX, the rest in individual muni bonds. Retirement funds in individual corporate bonds. I'm 58 years old, working a bit less and have more time to think about this
In other words, your original question relates to only 3.6% of the portfolio. Are there no other holdings other than NJ municipals? It seems you need some serious diversification.
Bruce
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climber2020
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Re: What would you do with 1million

Post by climber2020 »

SteelyEyed wrote:
IMD801 wrote:So very tempted to quote Office Space.
lol. Somebody else asked the same question once. I replied with what I believe is the same quote. A moderator deleted it. :D
I third the motion.
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bertilak
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Re: What would you do with 1million

Post by bertilak »

What would I do?

Me? I'd immediately upgrade my economy class Lufthansa tickets to first class.

OK, that's a joke but it is intended to make a point. There is a level where one can start upgrading their life-style. "One Million Dollars!" used to be somewhat north of that line. It still is (would be) for me. In other words spend some of it!
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
SJCX
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Re: What would you do with 1million

Post by SJCX »

If someone won the lotto for 1 mill would they still qualify to contribute to a Roth IRA that year? I assume they would in the years after provided they were below the limits.
rakornacki1
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Re: What would you do with 1million

Post by rakornacki1 »

For an overall balanced investment approach (return, risk, costs, time), I would suggest investing in a low-cost, diversified index fund, like Vanguard Total Stock Market Index Fund and Vanguard Total International Stock Index Fund.
ajcp
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Re: What would you do with 1million

Post by ajcp »

The Wizard wrote:$28M is a lot for a person your age. Earned assets or inherited?
For your age? It's a lot for any age, but if I had to pick an age that it was most likely, I'd think it'd be in the area of 58, no?
dbr
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Re: What would you do with 1million

Post by dbr »

yitzchakdov wrote:Have approx 1million from called New Jersey muni bonds. Want to diversify away from NJ. Any suggestions?
I would start here and think through your overall financial and investment plan:

http://www.bogleheads.org/wiki/Getting_started

There is also lots of good reading in the library in the WIKI.

What you do with 1/28th of your holding in NJ munis is neither here nor there, but having a plan for how to diversify the whole lot would probably be a good idea. The options for a person with that much money in that state are probably going to involve some tax painful trade-offs but considerations might eventually include national muni funds rather than state bonds, tax managed funds, and even just more tax efficient equities. But selecting investments is the last step. Objectives and a plan comes first.

At that level of wealth estate planning looms large as well as does hiring professional tax advice, which may already have been done.

Maybe it is time to move to Florida.
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avenger
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Re: What would you do with 1million

Post by avenger »

I'd do what my IPS says about windfalls - pay off all of my debt, with the remainder folded into my overall AA.

cheers ... -Mark
cheers ... -Mark | "Our life is frittered away with detail. Simplify. Simplify." -Henry David Thoreau | [VTI, VXUS, VWITX, SV fund]
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