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If I had 400k to invest, what would be the best investment?
I need some kind of return starting in the next 2-3 years. The money is in a retirement fund now and I can buy an annuity through the fund which pays 8% a year. I can take the money out but they take 20% in taxes off the top. If I roll it over into certain types of accounts they don't take out the taxes. Is the annuity my best bet or do you guys have any better ideas? Thanks in advance!
5 Answers
- Anonymous10 years agoFavorite Answer
There's no "best" quick answer. You've got to look at your total financial and personal situation. Consult a certified financial planner for an evaluation if you don't feel able to decide for yourself.
- Anonymous10 years ago
Annuities are the worst thing in the world to invest in - especially in a retirement acct - they have lots of hidden expenses, fees and surrender charges if you need to get to the money
Read some investment magazines for current investment suggestions
you never want to withdraw the money to move it
just call a mutual fund company and ask them to help you do a direct rollover into a few of their NO-LOAD only mutual funds - T Rowe Price is one of the bigger, better companies
- garretsonLv 45 years ago
you're coming to total strangers, whose skills and motives can by no capacity be commonplace for particular investment suggestion....... it extremely is totally nuts. it extremely is worse than playing. in case you lost 500K in the two previous (on the factor of ultimate years ever interior the inventory industry).... you may desire to totally reevaluate what you're doing. powerful making an investment is seventy 5% possibility administration & 25% choosing the wonderful shares. you may desire to ascertain some books. learn asset allocation (an absolute could desire to). making an investment finding for the "massive winner" is yet differently to totally wreck your account. no longer putting stops on your positions (and honoring them). after all, the only factor worse than being incorrect, is staying incorrect...... i actually think of you may desire to take your self out of the equation. the two consumer-friendly procedures to take a place in Mutual money or have a broking provider accomplish that for you. I hate brokers...... yet your question shows an entire dismiss for certainty... it extremely is amazingly risky on your financial wellbeing. examine: Mutual money For Dummies
- Anonymous10 years ago
yup consult a certified financial planner
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