Author Topic: Exit strategy now that Folio Investing Note Trader service has been shutdown  (Read 12125 times)

Osito

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I talked to LC a few weeks ago regarding IRA accounts and winding them down.  They stated that in the case of the owner receiving RMD's after retirement that they will continue covering the $100 fee even after the balance drops below $10,000.  It wasn't in writing, but they recognize the issue.

Now for an account liquidation and transfer, that would be a different issue.

Always get it in writing a persons word won't hold up in court, or at least tell them you recording the conversation and they agree with it to put it on record

Debt Free

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Always get it in writing a persons word won't hold up in court, or at least tell them you recording the conversation and they agree with it to put it on record

That's a given.  I'm not worried about it at this point.  Retirement's still about 15 years out and I'll probably move my money elsewhere before that happens.  My issue will be trying to liquidate quickly when I get down to $10,000 which shouldn't be too difficult.

SeattleSun

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I'm concerned about an exit strategy when something should happen to us. I don't want my trustee to have to wait five years for all my loans to mature to be able to get to all the money.

But that's the way it is.  There is presently no alternative. 

The average dollar weighted wait time is about 1 year.  Money comes out faster than you might imagine.  Sure the last dollar doesn't come out until 5 years are up, but most of the money comes out much sooner.

See https://forum.lendacademy.com/index.php/topic,3965.0.html

TWLMG

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Thanks for the info.
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