401K Rollover RRS feed

  • Question

  • I had a 401K with a brokerage firm that held 5 mutual funds. All of the shares in the mutual funds were sold and rolled over into 2 variable annuities held by a different brokerage firm.  How should I handle this in MM?  
    Sunday, April 27, 2014 4:51 PM

All replies

  • If you have not done so, create an Investment account. Put your original 5 MFs.

    Enter a Sell for each MF. Enter a Buy for each variable annuities.

    I would guess there was a salesman, who called himself an advisor, who sold you the variable annuities.

    Sunday, April 27, 2014 7:04 PM
  • Which version of Money?

    Did you previously track the acquisition of the shares in the mutual funds?

    Did you try to set up an annuity in the Lifetime Planner?

    Sunday, April 27, 2014 7:12 PM
  • Thanks for your input Cal and Barry, I have tracked the original 401K in MM since it's inception, basically using the 401K Manager to update the account quarterly.  I have been using MM since '95 and am currently using the
    Sunset version.  I wasn't aware that the Lifetime Planner had a feature that tracked annuities, I'll take a look at it and see if it'll work for my situation

    How best can I track the annuities value moving forward?

    Sunday, April 27, 2014 9:04 PM
  • I started the process of creating a new account for the 2 variable annuities and am really not sure how to proceed.  Should this be an investment account or retirement account?  If I go with the investment account option I am being prompted to choose an investment type, none of the options refer to an annuity account.
    Sunday, April 27, 2014 11:21 PM
  • I suggest you use the help feature to search for annuity instructions.  On my system, it gave me a step by step procedure.
    Monday, April 28, 2014 7:13 AM