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IMDB rating: 3.00 Plot: From the cage to the big screen, the world’s greatest Mixed Martial Arts Champions come together for the first time in a major motion picture. When an MMA world champion is lured into the illegal world of underground cage fighting by an elusive promoter, he quickly realizes that the only way out is to kill or to be killed. In a place where some fight for glory and some fight for the fight; he will fight for his life. Now, in his greatest effort to come out on top, he can never look back; never show weakness, never leave…and NEVER SURRENDER. |
Actors: Kilpatrick Patrick,Russo James,Silva Anderson,St. Pierre Georges,Penn B.J.,Willand Joe,C. Will,Campbell Carey A.,Crowder Lateef,Herring Heath,Iha Fabiano,Ing Jesse,Jackson Quinton ‘Rampage’,Action,Drama,
What's a good way to invest that will allow me access to my money?
I’m requesting a surrender of an annuity fund and would like to invest it to earn the best interest. See, it’s a college fund my great-grandparents set up for me and when they died, my grandmother took control of it. She’s never been smart with money and set it up in an annuity….which I cannot withdraw from without being heavily penalized until I’m 59! Who is paying for college at that age? I need that money now. So I’m accepting the heavy taxing, federally and by the company, just so I can get the money out of there. But I’m lost on what to do now. I don’t want to just put it into a savings account.
What is a good way to invest it that will allow me access to it. In other words, where is a place I can put it where it will earn good interest and I don’t have to wait until I’m nearly 60 to get it?
An Account with a company such as Fidelity. Invest in no load mutual funds and access to your money without penalty
Really | Feb 02, 2010
When you say you need the money now, how much how fast? If you need to spend it all in the short term, a savings acount is the most liquid, but earns the least interest. If you can wait for a year for some of it, you can look into CDs, time them to expire just before you need the money.
I wouild stay away from stocks in your case. Although the return can be great, there is risk also, and you could lose your money.
Grandpa
Computer Guy | Feb 02, 2010
if it is an annuity invested in stocks and shares this may not be a good time to surrender it, the market is low.
can you borrow at the bank using the annuity as security? it depends how much it is.
the amount that the annuity company charges you might be reduced if you ask nicely, or if you only withdraw a part of the funds.
would it be possible to transfer the annuity within the same company to one which pays you interest, that might escape charges
keni | Feb 02, 2010
Because this is qualified money, you should be able to put it in a 529 college savings plan which is also qualified money, and you will be able to use it for your college tuition.
dsacorn | Feb 02, 2010
When you open a Scottrade account, you get a Visa debit card and a check book. You can spend/withdraw liquid funds immediately. I think they charge INTEREST for 3 days while the transaction clears, as if they loaned you the money for 3 days.
INTEREST? ING claims to have a 7% fixed annuity. Depending on how much you have and how much risk you can accept, I would buy shares of Berkshire Hathaway — Warren Buffett’s company.
Buffett’s historic return has been 18.1%. He’s in his 80s but I think he’s laid a solid foundation.
tolstoi1 | Feb 02, 2010
Putting someone in an annuity as a college fund is a bad idea yes. Who sold this to your grandma?
Was it sold to her as a college savings plan? If so, she and maybe you have recourse against the insurance rep and the firm for false and misrepresentation of an investment.
You can further claim that if the annuity was sold with the intent for college planning, then the invest may be deed "unsuitable" (SEC Rule 405, other rules); because you would need access to the funds at college and not at retirement. A 529 Plan would have been a better choice between the two.
529 Plan
http://www.sec.gov/investor/pubs/intro52 9.htm
Now, I don’t usually recommend people sue, but this is a royal screw up that should be investigated by compliance and by a securities attorney. You can usually get consultation with one for free.
If the money is say $15,000 or less the attorney prob won
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