Skip to main content
No. of Recommendations: 0
I have just read your email and in reviewing the board I see that you have already received excellent advice.
If you received a contract at the time that you purchased your annuity it should tell you the surrender date, that is when you may surrender the annuity without penalty. Also, that document should tell you where the money is invested. This is not a big help since mutual funds which are in annuities aren't quite the same as regular mutual funds so you can't look up their performance in Morningstar etc in the same manner. I'm sure real financial Fools could explain this better.
In my case the annuity didn't do horribly so that is lucky but now that I know how to make it do better I'm outta there!
Also, the person who sold you this can tell you surrender fees and how to get out of it if you decide to do that. He won't want to but I think he has to if you ask. All I had to do was to call them and say to liquidate the annuity and put the money in a money market account. It required a Rollover form but they can send that to you. Then you can transfer the money to another company (the ones mentioned by the other Fools are great) by filling out one of their rollover forms and sending it with a copy of your statement from the first company.
I am transferring to Scottsdale and will be a Fab Four Fool shortly.
Hope some of this was of help.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.