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  1. First, sorry about your situation. I see too many in your seat! Anway, have you spoken with your advisor? That's why you pay him... Have you filed unemployment? Aside from that...From what you wrote, I can safely assume that you are not a medical doctor..Otherwise, you woudl have accumulated more than few thousan(not that non-doctors can save)... If you have no other savings and your 403b is all you have then only solution is to withdraw the money. Without knowthing your entire situation, I really can't provide more.. Hope things work out for you...
  2. Good for you Jar... Ask th advisor why an annuity is better suited for a young teacher rather than any other investment? Ask what is the total fee that you are paying and why? How much commission is he receiving from this sale?
  3. Jarhead... It's your money and you have the right to be concerned and know what you are getting into. Don't let your guard down when you go meet someone who is a CFP. CFP..CLU..ChFC..all it say is that one has completed reading some books and passed a test..They did not pass the human test and everyone is different. It's a two way street. Annuities do not belong in a retirement account since it's tax deffered. It defeats the purpose of attaining maximum returns. I do not post much due to the fact that some handful of teachers bashing and bad mouthing all salespeople. As I have stated before...not all salesmen are bad as not all CFPs are good. So go ahead APTeacher and the few that are there. When I meet with a client...First thing is I tell them to put their checkbook away. I ask them questions..many questions... very personal financial questions and if I find it that we both can work together...I have another meeting... Jarhead..don't feel bad about asking questions. The good advisors will tell the truth and be honest with fees and how they work....If one doesnt fit your style...find another..there's plenty.. Best of luck to you Jar...
  4. Doug, Any reason why you would be happy with 3% return expecially on a taxable account? Inflation and tax, you will be losing money. Maybe a muni may work better...Call one of the discount broker and ask what's available for your state... Good luck..
  5. Hey Doug, Try to find a company or an advisor that is not vendor specific. Most insurance company will sell you on their own products tied to say Opp. funds causing an increase in fees. I'm suprised to see Merrill on your list. They usually don't get involved with small accounts unless the rep is just starting out. If that's the case, you may want to go with Asset Managed account(if it's available). You will buy loaded funds at NAV. Other than the mananaged fee from 2%(based on account value). I don't know the fee structure since I don't work for MER or any listed company you provided. Another route may be to put your $$ in an IRA account or a taxable account... Again, as I have posted few times-Not knowing the whole financial picture, no one can really give you a solid advice....Hope that helps...
  6. APTeacher, Not all salesmen/###### are bad. Remember the world revolves around sales! As in life, there's the good and the bad. Same can be said about teachers...Of all the teachers I've had..maybe 2 or 3 stood out. I rememeber having to teach a chemistry teacher what to do...Enough about teachers... Yes..I know apples to apple comparison, there's no comparison... You have to understand that not all teachers/investors have the time/resources to research and stick to a plan. Some need hand holding..Some don't. There are investment choices not available to regular investors. It's only available through the broker. Let's not knock off all salesmen..Some are out there doing what's good for the investor....

    Bob Brinker

    I don't think Mr. Flanagan is providing a good service to his listeners. One caller asked about investing internationally. At least he should have asked -age? -what are your current investment? -approx. income. Another was a caller inquiring about FDIC insurance at one of the top bank. Caller stated that he had substantial amount. What is substantial? 10,000 is substantial for one and other's it's weekly income. Also should have stated that $100K is the coverage.... Interesting to know if he is registered/licensed?? After the second call, I had to finds a new entertainment.
  8. Bull, You can check: http://www.americanfunds.com/funds/classes...ils.htm#class-b It will give you details on the A,B,C share class. The type depends on the contribution amount and anticipated holding period. Hope that helps...
  9. In case no one knew about the site...Its FINRA..Link below... http://www.finra.org/InvestorInformation/I...ional/index.htm You can check any registered advisors that you encounter. It's a valuable tool for any investors to find out if the rep is registered and properly licensed to sell the products he/she is selling. It's a starting point...
  10. Isabella, Speak with the Axa rep and ask the questions you've posted here. Make sure you get an honest answer. You can simply call Axa and ask what their procedure would be to cancel further contribution. Like everything in life, some need more help than others. If you find that you need a little hand holding and guidance is what you want, speak with a rep that is not tied to a company selling only their products. Not knowing your full financial conditions, I would not be able to tell you what to do with your money but here are some questions that the Axa rep should have asked... -Are you married/any children -If children-How old- -Do you have life insurance-What is the amount? -What is your income? -What is your debt/credit card/student loans..etc.... -How much do you have funds that are liquid Hope that helps.
  11. sschullo, Without knowing where you stand financially, knowing what to do with your money may be difficult. Here are some questions I would ask: -When do you need the money? What is your current savings? -What is your tax rate? -Your age-income, -Risk tolerance.ex..are you willing to accept 20% return for a 15% downtown? -Any children? -Wills? I would advise you to seek a prof. counsel..Not just an advisor who's going to put you in an annuity. When an investor with substantial funds comes in and see me, I tell them to come in and let's just chat.. We talk about life, goals, and whatever comes to up. That way, I can find out if the investor is a good fit for me and if I'm a good fit for her/him. And if all goes well, in our second meeeting we get down to business. Lastly, make sure you check them out on FINRA. Hope this helps...
  12. Lincoln, All of us are not good at fixing cars...For a simple fix, you can do it yourself like changing the tires... But, some do not want to get their hands dirty and will gladly pay $40-50 to rotate the entire tires... Same as investing..If you have a simple life...Just a buy and hold philosophy putting $50/100 month into your retirement, most likely you won't need an advisor...On the other hand, some do not know anyting about investing...Sure, you can go out and do all the research and figure out what's best for you but you come back and someone else tells you another approach and another.....by the time you try to figure out what you want to do - you just give up......Tha'ts why investors with $500K+ seek qualified planner to manage their money! Lincoln, it's your hard earned money. As I've stated previously, only you know who you are with your money... As you get older and life becomes more complex...do youself a favor and your family, seek a qualified planner.... Good luck!!!
  13. JMG, Whenever you read the comments from the board do NOT go out and act upon it even if it's a good one. Only you know who you are and how you are with your hard earned money. Before you do anything...Sit down with a qualified planner. When you speak to him/her for the first few minutes you can generally get an idea if he/she has your best interest.... If any investment vehicle comes up in the first few minutes, walk...no run!!! The first meeting should be about your financial health...What you have, what you are doing, how much you are spending, etc...etc....Then maybe the second meeting, he'll draw out a plan for you..That's why you pay him/her the big $$$... From the information you have given, may I suggest: condo: -buy the condo if you plan on staying there for 5-10yrs. Say you rent $1000/month.. That's almost $120K in 10 yrs down the drain and no equity... Afterwards,f you decide to move, you may want to rent it. Generally you buy a house/condo to live not to flip it...Again, it all depends on you... $$ from sell of home: -if you do not need the money in 5 yrs...take a look at a bond going out 5-6 yrs thats AAA and insured or even a MUNI...again we don't know your financial health...sit down speak with a qualified planner... Hope this helps...Again, sit down and speak to someone who really wants to help you... Good Luck!!
  14. Here's the link to the Mass 529plan...http://www.529solutions.com/state/index.cfm?FUSEACTION=StatePrograms&SavingsDetail=1&StateID=16&StateNameID=16
  15. LIncoln, What state are you in? I'll give you the link for the college savings..Most plans allow aprox...$300K.. try...http://www.529solutions.com/home/
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