Hi @jerry
I recall the choices for the TIAA Michigan 529 were limited 10+ years ago and the fees were much higher for a direct purchase (which we use, no advisor stuff).
I checked MI 529 today and find the fees are now competitive.
NOTE: Much has changed during the past 10 years in the 529 marketplace. I recall quite a few vendor changes in numerous state plans; as well as significant fee reductions.
MICH 529 TIAA This links to multi-fund choices, with single fund choices clickable on the right side page edge. The multi-funds (I read) are funds of funds. These appear to be suitable enough for most folks.
UTAH 529 plan choices, individual selections This is the "build your own" list. The recent adds of the DFA funds have "high" expenses, relative to the Vanguard choices.
'Course the bugger with any of the choices are the restrictions on changing the investment choices; which, until 2015 was limited to 1 switch per calendar year and is now 2 allocation changes each year. This is now sufficient, IMHO.
Anyhoo..........Utah's plan was more appealing to us a number of years ago, and still is; and we find no need to transfer from this into Michigan's current offering. Don't know that I implied a negative towards TIAA, just not the best choice at the time and wouldn't likely be the choice today.
K...........back to house painting here.
Regards,
Catch

Regarding bond funds - Vanguard funds will always merit consideration, because for bond funds the correlation between cost and performance is quite strong. Why another bond fund? Because one rarely gets an actively managed bond fund at this low a cost and this small a size.
What makes me queasy about the fund (at least going by the description) is that this sounds like what Vanguard did with its total bond index fund in 2002 (when it managed to underperform its benchmark by about 1%). See this old M* thread:
http://socialize.morningstar.com/NewSocialize/forums/t/69530.aspx
Regarding the equity funds - M* star ratings provide objective summaries of past (risk adjusted) past performance. 4* and 5* performances may not indicate future results, but they do say that these funds have done well relative to their peers. HRSRX (4*), MVSGX(4*), DPIEX (5*), WCMRX (5*). Likewise, these funds' returns (not risk adjusted) over 3, 5, and 10 years are all above average (4) or high (5).

Yes, if feasible do push back SS start date; indeed, any CFP or CPA or similar would almost certainly tell you to live on this $250k instead. If you can push it back to age 70, all the better. The cashflow difference is very large.
That said, I would put at least some of the nut into div-paying US LC equities, as others have promoted, the usual suspects being DVY, NOBL, OUSA, SCHD, SPHD, HYD, and there are others of course. I also like the value etn CAPE and the fund based on it, DSENX / DSEEX, which includes special bond sauce.
For diversification, add FRIFX. I see no need to look overseas.

Thanks for the question. It made me rethink and remind myself of the importance of having a plan when it comes to the use of discretionary money.
If the goal is to meet future retirement needs (income) I suggest the following:
Year one:
-Consider using some of this money to "treating" yourself and others with a "gift". You would be amazed at how great it feels to give to a charity or a loved one.
-If you haven't yet funded an emergency fund:
Determine what 6-12 months of living expenses would be and create an emergency fund (cash/near cash).
-If you have earned income, fund retirement accounts:
1st - Match employer contribution (401K/403b/457/etc)
2nd - Fully fund a Roth IRA (Roth IRA)
3rd - Max out employer offered retirement plans or, if self employed, max out SDIRA
-Health insurance wise, Are you eligible to contribute to an H.S.A (Health Savings Account). If so. use some of the money to max out your contribution?
Make it a point to continue funding the above accounts until you are no longer eligible. The remaining balance could be divided in three investment pools.
1-3 years
-The goal with this money is to meet the needs of what was laid out in year one each year going forward, but could also serve as a good plan for supplementing retirement income needs. It should be invested conservatively and replenished (re-balanced) using funds from the other two pools once a year. ST bond, IT bond, and MS bond funds work well here. Maybe even conservative allocation funds like VWINX.
4-10 years
Find a few good Balance funds...CBALX, VTMFX, VWELX, FBALX, etc. Re-balance once a year by redeeming some of these shares and replenishing your 1-3 year pool funds.
10 years +
This pool is home Moderate Allocation funds like (PRWCX), Aggressive Allocation funds like (POAGX) and well as any Alternative Allocation (RE, Utility, PM, HY Bonds, etc) funds. It will serve the purpose of long term growth as well as the occasional place to re-balance with the other two pools.
What is the purpose of your goal of achieving dividend and interest?
Good Luck!

PCI can still be had at a discount.

Thank you, I will look into PCI
I also agree that dividend and interest instruments have gotten ahead of themselves. And with the FED talking a raise I can wait for a pull back to the end of the year. But, I still feel that over the next 5 years at least they will be a good investment.
"From 1945 to 2001, and 10 cycles, recessions lasted an average 10 months and expansions an average of 57 "
https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
The Great Recession ended June 2009, so maybe we are due for a recession when interest rates will fall again. This is something I have not read about anywhere - that this expansion is getting old. That could be because most do not feel like a robust expansion.
From reading some of the posts on this board I've become less fearful of general inflation. The factors just don't seem to be there; except for an oil embargo or war.

Sandra, it would be helpful if you provide a more complete picture as to age, whether you need the income from the 250K for living expenses and if you have any retirement accounts and how its allocated and when you plan to start withdrawals. You would likely receive many more responses once a clearer overall picture is known. Lots of other questions, but its a start.

I am in my early 60s and will be collecting SS soon. My living expenses are low and taken care of by a small pension and other investments. I would like to invest the 250K and start to give the interest to some nieces,nephews and other family members.

https://www.sec.gov/Archives/edgar/data/917469/000119312516697721/d232478d497.htm
497 1 d232478d497.htm LOOMIS SAYLES FUNDS I
LOOMIS SAYLES INTERMEDIATE DURATION BOND FUND
Supplement dated August 31, 2016 to the Prospectus and Statement of Additional Information (“SAI”) of the Loomis Sayles Intermediate Duration Bond Fund (the “Fund”), each dated February 1, 2016, as may be revised or supplemented from time to time.
Effective immediately, shares of the Fund can no longer be purchased, exchanged or redeemed through the prospectus or SAI referenced above.

Sandra, it would be helpful if you provide a more complete picture as to age, whether you need the income from the 250K for living expenses and if you have any retirement accounts and how its allocated and when you plan to start withdrawals. You would likely receive many more responses once a clearer overall picture is known. Lots of other questions, but its a start.

Your funds kick off goodly amounts of income, some of it with leverage. It will be taxed at regular income rates as you probably already know. PCI can still be had at a discount. I am also looking into NJ municipal closed end funds. (NJ resident) God knows what will happen when interest rates rise...probably not good in the short run but good for bank interest and CDs. I think you can get CDs at 2% if you lock in 5years. Sam Lee has noted in the past that CDs are likely preferable to short term bonds since they are FDIC insured and a 2% yield is similar to CDs. If you can fully fund Roth IRAs or regular IRAs/401k etc, do that if possible. Age, work history, taxes will all play a part; just by two bits as a non professional. Good luck.

What is being targeted is investors, not asset allocation. To paraphrase what 00BY wrote, the fund is designed for (targeted to) investors who want a fully invested, volatile (concentrated) fund.
There is nothing in the prospectus (or SAI) saying that the cash will be under 10%. What the prospectus does say is that all the other funds in the family are free to invest without limit in cash. Well, actually it says "each Fund, other than the Intrepid Select Fund, may hold in excess of 25% of its assets in cash ... at any time or for an extended time."
What's magical about 25%? I can't say I don't have a clue, but the clue that I have is pretty useless. Under Principal Risks of Investing In Each Fund (prospectus), "Cash Position Risk" is identified as a risk for all the funds except Intrepid Select. Perhaps if a fund has less than 25% in cash for an extended time, cash drag is not a principal risk? Or maybe this section is what implies Intrepid Select should normally stay under 10%?
Like most funds, all of the funds here (including Intrepid Select) reserve the right to go to cash. "In order to respond to adverse market, economic, political or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and ... strategies and invest, without limitation, in cash ..."
That's where the wiggle room comes from.

Like most small investors I tend to swim in the low end of the pool. When a cannon ball hits the deep end off the high dive I brace myself by taking gulp of air between large wakes of water.
Recently the Swiss Central Bank jumped off the high board, tucked their knees and made a pretty big splash in the US Equity markets.
Makes me cautious of the continued tailwind in the tech sector.
Article:
Switzerland's central bank now owns more publicly-traded shares in Facebook than Mark Zuckerberg

I will be receiving about $250,000 as proceeds from the sale of my home in October. I will moving in with my sister so I will not need the principal any time soon. I would like to invest for interest or dividends. So many investments look very pricey now. I have PONDX, DSL, and PREMX on my watch list. I got them from reading the posts here. I was wondering if there are any other investments I should be watching.

FYI: Recent additions to our Morningstar Prospects list of intriguing, little-known, or new strategies.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=767683

FYI: Laszlo Birinyi claims new real-estate sector designed to the ‘benefit of the vendor and not the customer.”
Regards,
Ted
http://www.marketwatch.com/story/sps-new-real-estate-sector-an-unnecessary-headache-says-laszlo-birinyi-2016-08-29/print

@MFO Members: In afternoon trading the S&P SmallCap 600 is up 1.40% , and the Russell 2000 1.50%. The trend is your friend !
Regards,
Ted

Yes ... But ... June '15 still not exceeded - another 52pts to go. Is that telling us something?
The only thing I can think about that today's action is telling us is that maybe the FED hike won't happen. Small caps are thought to be interest rate sensitive.
http://finance.yahoo.com/quote/^RUT/?p=^RUT

@Crash TRPrice indicates two distributions,too; in Sept and Dec. of 2015 since your purchase.
We do our numbers every week and have for many years. We do the most simple process. So, for your TRGRX; if you purchased $10,000 on your noted date and the dollar value is now $11,469 (example only), one arrives at about +14.69 return noted.
I don't pay attention (other than checking) what distributions have taken place, (say over a 1 year period); but what is the total return during a given period.
I did see that TRP had return numbers, but were set for one year from July 31-July 31.
Anyhoo......have to get outside again before the rain arrives.

@Crash
Appears your TRGRX numbers are closer to YTD (8.84%) and not 1 year as indicated from purchase date, which is closer to 14.5%.
You're probably happier than you thought, eh?

Your guidance is much appreciated. Thanks to all. I always trim and rebalance just after the New Year. In Jan. of 2017, shall I take a chunk from TRGRX and dump it into PRDSX (Quant small-cap?) Or put it into PRIDX (int'l smid-cap?)..... Other choices include PREMX (14.68% of portfolio,) PRWCX (35.57% of portf,) and PRSNX (10.88% of portf.)
****************************************
These are actual, accurate performance numbers from TRP, not from M* or Lipper or Google: (And there have been no additions nor withdrawals from any of them, so the numbers are "true." SINCE INCEPTION, meaning since I opened the positions in each:)
-PRDSX +4.86% (since 8/20/2015)
-PRIDX +5.09% (since Jan. 4, 2016.)
-TRGRX +8.4% (also since 8/20/15.)

REITS have had a nice one-year run-up from a trough hit last autumn. I suspect the rally in bonds has helped, as real estate is highly interest rate sensitive.

@hank, you are right on with the interest rate correlation. Now that Fed is more likely to raise rate this year, REIT is declining from its height reached several weeks ago. As long as the rate increase is slow and small, less than twice a year and 25 basis point as a time, REIT should still be okay.
Now that REITs will be part of the financial sector of S&P 500, I will trim some REIT funds so that the total REIT exposure is less than 5%.

Oppenheimer's investors (529 participants) took a sizable loss in their "Core Bond" within a conservative portfolio. Oppenheimer settled out of court and a new administrator, TIAA-CRAF was named afterward
doj.state.or.us/releases/pages/2009/rel111909.aspx
It paid to get to know these companies prior to commit your 529 $ to them. Strong funds was charged with 2002-2003 mutual fund scandal, actually the worst offender charged among others. The founder of Strong fund, Dick Strong was banned for life from security exchange business afterward, and the mutual fund business was sold to Wells Fargo.
We considered Utah and decided to stay with States that Vanguard would manage the underlying portfolio and bookkeeping (i.e. all $ reside at Vanguard) for full transparency. In the end we picked Iowa over Nevada and New York based on the portfolio makeup with added exposure to emerging market. Thing may have changed since then.
https://personal.vanguard.com/us/whatweoffer/college/finda529Popup.jsf?cbdForceDomain=false
Other states including Utah use low cost Vanguard index funds and other mutual funds. I am glad to heat that Utah 529 is able to fulfill your need. Recently we changed our 529 portfolio since our kid will be attending college in less than 3 years.