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January 15, 2008

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my CD matures this month. any idea how much longer the yields from CD's will keep falling ?

Hi,
We have an annuity worth about 70K from which we withdraw $881 per month (after taxes). We use that amount to pay a car payment and credit card each month.
My question is this. If we withdrew about $25,000 from the annuity, we could pay off the car and credit card.
Should we do that, and then not take money out of the annuity monthly? We are semiretired and the annuity has been used as income. If we did not have the car/cc payments we would not need the money on a regular basis and could use it only for emergencies.
Please let me know if this would be a good idea.
Thanks so much,
Teri

I have have roughly 85k in a company 401(k) plan. I'm in the process of changing employers. What should I do with theses funds? I'm 38 yrs old and obviously will be building another retirement with my new employer. I hear that an annuity with monthly draw-downs will give me access to my monies without the tax burden if I just cash out. Or is an IRA the best option?

We have $25,000 ($45,000 a year ago) in IRA's and will retire in 10 years. Does it make sense to keep them up or invest elsewhere?

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