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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75886  
Subject: Re: Annuties Date: 6/16/1998 7:32 PM
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Greetings, Patti, and welcome.

<<I received a Vanguard Variable Annuity (as part of divorce settlement). I don't know anything about annuties...but, i received a letter from Vanguard stating that I had 10 days to decide whether to stay in it or cash out.

The portfolio is worth a little over 100K with 50% in Equity Income, 25% Growth and 25% International.

Is this a good thing to hang on to? Or would I be better off putting the money elsewhere. I guess if I cash out...i will have penalties and taxes to pay.

Just looking for suggestions....*smile*>>

As Dave479 mentioned, you can pull it out and pay taxes on the gains plus a ten percent penalty assuming you're under age 59 ½. I'll also agree Vanguard's annuities have a good record for lower fees, surrender charges and returns. Could you invest those monies and do better? Quite possibly, but only you know your skills, confidence, and comfort level to answer that question.

Regards….Pixy
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