how much do I need to open a ANNUITY account?
477328
I suggest you to stay away from annuities.\n\nIf you need help with your finances drop me a line.
878382
Wow Im a little worried about some of the advice you received.  An annuity is a policy with an insurance company that allows you to protect your money from probate, and yes it passes directly to your beneficiary within 7 days after the insurance co is notified.  Unfortunately too many people give their opinions about annuities when they have no idea what they are and why they are great retirement/estate planning tools.  Not to mention that Annuities pay higher interest rates than bank CD's and money markets, and Fixed annuities don't lose your money like the stock market and mutual funds.   Good for you for having an annuity, now that I have shed some light on what they are.  The answer to your question is YES.  Just like any investment, you will not avoid paying taxes on your annuity.  If it is Non Qualified Money, the taxable portion will be on the interest you have earned during the course of having the annuity policy.  If it Qualified money like an IRA the entire amount will be taxable.  The insurance company will be happy to take the approximate taxes right off the payout amount to help your beneficiary, or they can elect to pay it at the end of the year.  Estate and inheritance tax only effect a small percentage of Americans, so this probably won't be an issue for you.  Keep in mind that if this is infact in a Fixed Annuity and Not a Variable annuity, your interest has been compounding over the years tax deferred.  That gain is significantly better than you would have gotten in a CD, paying taxes on it every year.  Good for you.  Make sure you keep that money in an annuity, and that you are getting a FIXed interest rate, no in the stock market.  SAFETY
77759
Yes this is true. Contact the mutual fund company or go to their website and print off an application. You can choose how much you want to deposit monthly. Since you are just beginning I would recommend a good balanced fund. American Funds has a great balanced fund but you have to go through a financial adviser.
814007
To work out the exact figure would be very complicated, and would probably use natural logrithms i.e. the number e.\n\nTo work out an approximate figure, you could work out 10% of 250 you input in the first month, and then 11/12 of the same figure in month 2, and then 10/12 of the figure in month 3...... and then 1/12 of the figure in the last month. In Excel, this gives a figure of £162.50 which is like depositing £3000 outright in an account which pays 5.4% annual interest.\n\nRemember, when you open the account, you start with £250 and you'll get the full 10% of £250 in that year. In month 2, you will deposit another £250, and the interest for that £250 will be 11/12 of 10% as it will only be there for 11 months. Hope this makes sense.
926705
You must be 18 years old to open a Saving's account...however, your parent or grandparents may open a savings account listing you as a minor.  Then you can deposit your money, but you may have to have 2 signatures to draw it out.  There is usually a minimum balance required on Savings accounts, usually $50.00 to $100.00.  The only other alternative to a double signature to with draw would be if a Debit card were ordered with the account, and then money can be drawn on the card thru an ATM  Hope this helps........Banks differ, but minors cannot be held liable. that is why an older adult is most  of the time required on the account with the monor.
810603
If for some reason you do not wish to open a stock brokerage account, contact your local bank and ask them if they will buy stock for you.  Also ask them how much they charge.  An on line discount broker will charge you about $10.
119201
I suggest getting busy with your own Traditional and Roth IRAs. Vanguard has great offerings and very low costs. The annuities route is very complex, but if your situation is That Good it would be useful to contact a real financial advisor.
113166
I like Scottrade.  You need only $500 dollar to open an account.  It is perfect for small investors.  You can compared  and see for yourself.\n\nhttp://scottrade.com/frame_brokers.asp
110982
As far as your annuities bonus. Read the fine print. That 6% bonus isnt really free. The insurance company just charges a higher expense for a certain number of years to recoup that "bonus" money. In some cases it makes sense but is usually just something extra to get you interested. Nothing is ever free.
620252
sign up for an etrade account. then you can try to buy in conditional offer. $2000 minimum to open an account.
480473
ironically, none...i opened an account for my 2 kids at age 3 & 4...they are now 17 & 18...i wish my parents would have done the same for me...they both have more in their savings than i do at the present time...lol
116194
Open your own Money market savings account where you are the only person listed on the account, this way you will be able to take money out when needed to pay for your debts and other needs.  Once you get the debt taken care of, depending on how much you have left.  Take 1/2 of the remaining money and put it in a 5 year tax free annuity account.
118528
You didnt say whether you wanted your initial investment back. That is (a) do you want to receive $1600 per month which includes interest and repayment of capital? Like an annuity. Or (b) do you want $1600 per month interest and then repayment of your investment capital at the end of 3 years? \n\nFor (a) you'd need $50,000 and for (b) $192,000\n\nAlso I have presumed by 10% you mean per annum rather than for the whole term.
261331
I myself am a small business owner - self employed and opened up a ROTH IRA through www.sharebuilder.com about a year ago. The cost can vary depending on what plan you choose and how much you choose to invest every month. I myself invest $120/mo. and there is an additional $25 stock fund fee every year. My account value is nearly $2000. I strongly urge you to take a look at www.sharebuilder.com for your IRA investment needs. I've been very impressed with them. It's perfect for small business owners primarily because there are no minimum investment fees and their portfolio is very versatile.
568709
As a rule of thumb: take your expenses per year and multiply by 20.\n\nFor example, if your total expenses per year are $30K (rent, food, car, taxes, medical etc...), you will need $600K.\n\nSounds like a lot ? You need to (1) start saving immediately (2) reduce your expenses and lifestyle, for example, drive a small car, find a cheap place to retire...
151098
you can always have an ira, even with a 401k. i suggest a roth ira with 1 year renewals. drop at least $500 in every year, more if you can up to the max (about $4,000 for married)
983062
save up to 80% http://mybenefitsplus.com/40436527