No. of Recommendations: 0
My company just went out of business. They only paid me $22,000. Now not knowing what I should do I went to a PriAmerica agent and she invested all of this in a mutual fund with Smith & Barney.(GROBX) I was told if I make any withdrawls I will have a penalty of 10% if I do not return this money in 60 days. Is this the normal? Also I really am on a limited income and will probably need to withdrawl and I am not sure how often! Could I get more out of my money using another route. Remember I am 54. Please make any suggestions, you may also email me stkki@hotmail.com
Thanks
Print the post Back To Top
No. of Recommendations: 0
PROSPER5 -

You said: "My company just went out of business. They only paid me $22,000. Now not knowing what I should do I went to a PriAmerica agent and she invested all of this in a mutual fund with Smith & Barney.(GROBX) I was told if I make any withdrawls I will have a penalty of 10% if I do not return this money in 60 days. Is this the normal? Also I really am on a limited income and will probably need to withdrawl and I am not sure how often! Could I get more out of my money using another route. Remember I am 54. Please make any suggestions

You asked a few questions without supplying enough background info! The $22k paid you by your ex-employer; was is in a retirement account? The GROBX fund your money went into; is it an IRA? It would have been much better to have had all your questions answered before you took action...

Do you want to offer more info?

PP
Print the post Back To Top