Do you need a steady flow of cash from your portfolio? Vanguard has a pretty good deal for you. I have a better one.
The product Vanguard wants you to buy is its Managed Payout fund. This cocktail of stocks, bonds and commodities delivers a nice monthly distribution–a bit more than $3, 000 a month on a $1 million stake.
Dividend and interest yields are pretty meager these days, so in order to come up with your monthly check Vanguard has to sell off a few securities. Offsetting these asset sales is the appreciation on the stocks, in which the fund is a net 63% invested…
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Forbes Real Time by William Baldwin
