Rollover

I rolled an old IRA from Oakmark to Vanguard. It's interesting that I received confirmation from Oakmark dated 1/22/08 stating the amount had been removed from my account.

Vanguard posted the exact amount yesterday after closing. It just seems a long time for a check to be sent from Missouri to Pennsylvania. Or, possibly, the transfer was electronic.

Still, there was a little float time.

It is something to ponder - the float time. My $ was out of my account and somewhere sitting while it waited to be placed in my new account.

It's not a huge amount. Any interest it might have earned over maybe 10 days would not amount to much. But some floats could be hundreds of thousands, or more.

Who gets the float earnings? I know it's not illegal but surely a benefit for someone.

[Super Tuesday - vote if you can]

'til later