Author Topic: Cash Parking  (Read 8638 times)

anabio

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Re: Cash Parking
« Reply #60 on: January 29, 2018, 02:04:34 PM »
Got one year to go....but I really can start using it now as a kind of 1 year CD...just haven't got the urge yet.

11 years ago I "hid" 200,000 cash in a fixed annuity....not for investment purposes but to get it off my assets so I even had a chance of getting financial aid for my children, one of whom was going to college a few years later.

Side note: Lot of good that did me...among other colleges, she got accepted into a couple of UC systems...even with their high costs we were only able to get about $3,000 in LOANS...no free money...I made too much money...didn't think that one through the whole way....

Anyway. That fixed annuity pays 3% and in one year there will no longer be any withdrawal penalty, so I can start using it as a bank savings account...

Not sure what they will do if they see multiple deposits coming in and withdrawals going out... anyone have any experience in this situation...will they stop me from making deposits/withdrawals???
As Will Rogers stated: : I'm not as concerned about the return on my money as I am the return of my money