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Subject:  Help! my friend is forced into a Variable annuit Date:  12/21/1999  6:22 PM
Author:  Interpretercat Number:  16726 of 78166

Hello, and a FOOLish evening to you all.

My roommate came home this evening with a dazed look on her face. She came home
with a nice little packet from SALOMON SMITH BARNEY (Travelers group)
explaining all about the nice ERISA Section 404(c) plan (401 k from her Employer) that
She signed the papers, not knowing what she was doing, fortunatly, the annuity will not
begin until the begining in January of 2000.
After doing my reading of TMF's retirement boards, and reading Suze Orman's book
"The Courage to be Rich,"
I realized that she had made a HUGE mistake! (or so I believe)... Should I tell her to
ask her boss to let her join in a conventional IRA or Roth Ira (which I prefer), and
make contributions to that plan, or go with what her boss already has signed up the
group for ( the variable annuity)?
The only saving factor that I could find is that they do offer a Smith Barney S&P 500
Index fund.
I'd like to hear what