Gene - great comments to John about a club. My club charges a withdrawal fee of $10 or actual expenses. As treasurer and as a club, we work to make it fair to both parties. I have been a member 11 of 12 years, and got into individual investing because of this experience. My son also got interested. The fee helps with the cost of software for taxes, postage to member, etc., and is a fair price. Since 90% of our stocks are at the broker and appreciated, our PA recommends they get a brokerage account. Muriel Siebert does not charge for a stock certificate or transfer to another company. We have paid off two long standing, very absent, members this year. The last one at my suggestion opened up a brokerage account. jane, treasurer of Rose Investment Club.
To: "naic-chat digest recipients" <[email protected]> Sent: Monday, July 04, 2005 11:00 PM . > Subject: Re: naic-chat digest: July 03, 2005 > From: "Gene Rooks" <[EMAIL PROTECTED]> > Date: Mon, 4 Jul 2005 09:17:02 -0400 > X-Message-Number: 1 > > Hello, John. Investment clubs aren't for everyone, and some are far better > than others about delving deeper into their holdings, and broadening their > methods of examining a company. If a club is too frivolous, making > decisions based on whims, then you can do better by yourself. I certainly > agree with you that a 3% withdrawal fee is not suitable, and that can be > stricken out of any club's PA that wishes to examine it and do so. Our > club dropped ours to zero, except for a flat $25 on a full WD, and even that > was over my objections. > > However, clubs are a great method of taking previous non-investors, who let > their money be handled in a 401K, by a spouse, or dumped blindly in a mutual > fund, and teaching them what it is all about. Each club is only as good as > it's membership makes it. One thing I see lacking in the BI magazine that > goes out to club members is regular space devoted to developing clubs and > educating club members on making meetings more productive and overseeing the > accounting end of it. They have on-line help, but need more in print in the > home. Best wishes, Gene Rooks, Orlando ---- You can read and write messages or change your subscription options at the naic-chat web site at http://lists.better-investing.org. Log in using your e-mail address. You are currently subscribed to naic-chat as: [EMAIL PROTECTED] To unsubscribe simply send an e-mail to this address: mailto:[EMAIL PROTECTED]
