Ask Terry Questions Variable annuity

Variable annuity

By Terry Savage on March 26, 2015 | Investments

I am 69 and put some of my money into a variable annuity. It does not seem to be making any money for me. Should I take the money out and do something else with it?

Terry Says:  I would have to know more about the annuity — especially how long you have owned it.  It is likely that there will be penalties lasting as long as 8-10 years that would cut into your money.  Ask your agent point blank:  If I want my money back today, how much can I get?  Then write back.

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