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Advising Caution on Mutual Fund Shifts and High Yield Bets
A reader warns about high pressure sales urging an elderly couple to move $19,000 from their mutual fund, risking $1,800 in commissions. They emphasize data on a high yield proven fund, note typical withdrawal penalties, and propose alternatives like high-grade bonds yielding around 7 percent. The column discusses brokerage markets, over the counter stock practices, and tax considerations for high grade yields and preferreds.
MENTIONED IN THIS ARTICLE
Gach Marmen