Symplelife
Dryer sheet wannabe
- Joined
- Jul 30, 2015
- Messages
- 10
I am due to receive a small inheritance (about $100,000) and a financial advisor from TIAA suggested that I invest it in a TIAA variable rate annuity (I have a retirement account already set up with them). He mentioned that the annuity invests in a wide variety of mutual funds and the money could be liquidated at any time with no surrender fee. I understand that there would be other fees associated with the account (I’m seeing various amounts), and the rate would fluctuate with the market. This is thankfully money I don’t need to survive, but I also don’t want it to disappear. Is there a better option for these funds? I’d like to retire within the next year and am not planning to tap into this money for quite awhile (5-7 yrs). I’m open to any suggestions and would appreciate your thoughts on the VRA. Thanks!