So funny...NOT!
All my financial buddies here have helped me so much. I went knocking on my mutual funds door and wanted to pull money out for a closing on this awesome piece of property I found a month ago. blah blah, have to go sign this or that.. my mutual fund was turned over to another company etc... I dont know what they are talking about.. I was pissed.. that i couldnt have my money for a week or two.
I just want to pull my money out of there.. then she hits me with.. well its earning 6. something interest right now. ( last year it didnt hit over 4%) SO my eyes got buggy.. LOL
What to do ?
Im going to start putting my money in hefty bags, and say fuck it.
-- Modified on 7/8/2005 7:18:30 AM
I've found that financial institutions give that large window to cover their ass. Whenever I withdraw I get my check in a normal mailing cycle, 3 business days or so.
swwede thanks !! Mail on the way !
Peter ! Thanks for getting me out of my pickle 
!!!
Ciara, Youve got mail..
Why would you want to fu*k a hefty bag? LOL
Undercover ! No one will ever know who I am
Keystone !
A hefty bag is a full body condom !
They should have prepared you for this the day you first met with them about buying a property. Its common knowledge that mutual funds, retirement accounts, hell investments of almost any kind have some rules about withdrawal and disbursement. Some places only cut checks once a month etc... Your lender and realtor should have told you to immediately to look into this so that you would be ready at closing.
They did tell me that , so I am 
I guess I read too much into the part about the fund not having it for you for a week or two. I thought that meant you were up against a deadline and this was messing you up. Glad you hired good professionals by the way! A lot of people don't and then their story is a lot worse than yours LOL.
These large mutual fund companies have tons of
funds that can meet anyone's investment
objective. I use Vanguard because all of there
funds are no-load (no transaction fees) and the
funds are very low cost in terms of management
fees. This is especially true of their index
funds which they pioneered.
What's more, they allow buying and selling of
most funds anytime and online to boot. They can
cut you a check and mail it to you within three
days. But I just wire money into my bank
account (it's there the next day) for a small
fee or transfer money to my bank accout (in two
days) for free.
I'm sure other large mutual fund companies like
Schwab and Fidelity operate in a similiar
fashion. Which funds are you using?
-- Modified on 7/8/2005 2:36:20 PM
IIRC when a shareholder requests liquidation of MF shares, the company has to disemburse the proceeds within 7 days.
For future reference if you're shopping for a big-ticket item (real estate down payment or car) transfer shares to the mutual fund company's money market fund or bond fund w/check writing privilages. Always ask to verify when the money will be available to write checks.
Diversification is the key. Hope this helps.
Vanguard and similar fund managers are the ticket as
far as I am concerned. No load, good service, ability to change your investments on the fly/online.
With world economy and terrorism factor, bonds tend to be safer investment, but lower yield. You choose here, but I am more conservative now that I
have matured (mature is to old as fluff is to fat)
If I were younger, what the hell, riskier investments are way to go as you have longer time period to recover and over long term have paid more.