I have a question

[Heartstorm]

I have an investors fund through JP morgan I started for my daughter, it only has about 4k in now. 1/2 is stocks 1/2 is mutal funds.
Should I leave it alone or take it out ???
I started this so one day I was hoping my kid would have a little money since I am an older Mom... well ok I am an old mom :aha
But should I close it and .... what ? buy food ? but gold ? I really wanted her to have something for when she is grown and might just need some extra.
When I went to the bank and talked to the investor guy he told me it was safe and I should leave it alone, it would grow. I did stop paying into it though.
Any advice please ???????

[FarmBoy]

Depends on your financial situation, when your daughter will need the money,and your view of the future.

options:
do nothing,
reallocate the money to "safer" investments like a money market based on treasury bills,
pull the money out and buy precious metals,
pull the money out and use it to stock your pantry

or a combination of the above.

Without a crystal ball its hard to know the best choice.

[lilbitsyspider]

I have an investors fund through JP morgan I started for my daughter, it only has about 4k in now. 1/2 is stocks 1/2 is mutal funds.
Should I leave it alone or take it out ???
I started this so one day I was hoping my kid would have a little money since I am an older Mom... well ok I am an old mom :aha
But should I close it and .... what ? buy food ? but gold ? I really wanted her to have something for when she is grown and might just need some extra.
When I went to the bank and talked to the investor guy he told me it was safe and I should leave it alone, it would grow. I did stop paying into it though.
Any advice please ???????

Keep it where it is, we could be around to old age.

[MochaMel]

I agree, leave it there... If you're that worried about it w/the banks and such, you can always hide it at home.. BUT don't spend it -- you're right to be saving for her future.. :thumb

[Heartstorm]

Thanks guys !!! I guess I will leave it alone, I cant keep it here because knowing me I would dip into it for "emergencies" and it would not grow anyway. I doubt that it will do much as it is but at least it is safe from being nickled and dimed to death by ME :hehee and who knows maybe it will do something one day OR we will be gone and she won't need it :pray

[lilbitsyspider]

Thanks guys !!! I guess I will leave it alone, I cant keep it here because knowing me I would dip into it for "emergencies" and it would not grow anyway. I doubt that it will do much as it is but at least it is safe from being nickled and dimed to death by ME :hehee and who knows maybe it will do something one day OR we will be gone and she won't need it :pray

That decision just saved you lots of money, paying tax on it and the penatly for early withdraw. Good decision.:hat