Looking for a Completely Liquid Account 500k

[0b1kanobee]

Anybody know of a completely liquid account or maybe even 6 months to a year or less for 500k to 600k deposit? (with a decent rate of course.....)

 

[Norwayguy]

Anybody know of a completely liquid account or maybe even 6 months to a year or less for 500k to 600k deposit? (with a decent rate of course.....)

You might looke at something like Great Americans Safe Return product....Its and index annuity with both a bailout cap so if the index goes below a cap the client can pull out of the index and a return of premium guarantee so if the client wants to pull out in 6 months they get their money back no interest of course but if they decide to keep the product long term its competative.....

If your looking for an annuity to compete with a 6 month cd then no I don't know of any with good or bad rates.

 

[briko3]

ING has return of premium annuities, but they're longer than a year. (If you pull out the premium, I'm pretty sure you don't get any gains you've accumulated, but that may be reset yearly.)

 

[0b1kanobee]

Right now, the best I can find is Symetra custom 3 with return of premium. Thanks guys, I'll keep checking. My client has too much liquidity but I just can't get him over that hurdle.

I ran a laddering strategy just for giggles and I can get him $2,100 per month for the next 10 years over a few products and at the end of ten hand him back his whole 500k

He is also 79 Y.O. so makes it a little difficult but he is still working and will be till he dies and has a younger wife. What I think is I'll go back and pitch a 100K then over time peal away the rest.

 

[scagnt83]

If your registered you can go with Pru's zero surrender VA (I forget the name).

If your looking for fixed rates just put them all in the fixed account.

Its a zero surrender charge product, but the M&A is a few bps higher than usual...
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Also, "Liberty Bankers" (B-) has two 1 year fixed products.
Right now the rates are at 1% and 1.75%.
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Right now, the best I can find is Symetra custom 3 with return of premium. Thanks guys, I'll keep checking. My client has too much liquidity but I just can't get him over that hurdle.

I ran a laddering strategy just for giggles and I can get him $2,100 per month for the next 10 years over a few products and at the end of ten hand him back his whole 500k

He is also 79 Y.O. so makes it a little difficult but he is still working and will be till he dies and has a younger wife. What I think is I'll go back and pitch a 100K then over time peal away the rest.

The laddering strategy doesnt sound bad.

It sounds like your client likes his liquidity. And the older a client is, the more liquidity they need.

imo a client can never have too much liquidity as long as their returns and taxes are suitable for their situation....

Take a look at the Pru zero surrender and the bankers one years.
You might loose the client trying to push locking up the money for too long...

 

[briko3]

Would it be liquid enough to do the ladder with 1/2 the money instead of the whole thing?

 

[0b1kanobee]

Would it be liquid enough to do the ladder with 1/2 the money instead of the whole thing?

Well that is similar to why I went back after working up some numbers at McDonalds and just doing 100k into a 3 year product with return of premium. He would tie up the entire 500k in CD's if it were not going to have to be for 5 years. Like I say with some of the other things he has going on, he doesn't need that much money liquid (based upon my fact findings).

 

[TRSecurity]

I've recently been in a similar situation and we finally went with a laddering strategy. Portioning out the money into different products was appealing to him. The shortest annuity we used was a 1 year at 3%.

10% withdrawals won't cut it for this guy?

 

[BNTRS]

If your registered you can go with Pru's zero surrender VA (I forget the name).

If your looking for fixed rates just put them all in the fixed account.

Its a zero surrender charge product, but the M&A is a few bps higher than usual...

If a registered rep. JNL also has a zero CDSC product, Perspective II Advisors. JNL will let you move in and out of the fixed bucket, and the M&E charges are less than Pru's.

 

[0b1kanobee]

I've recently been in a similar situation and we finally went with a laddering strategy. Portioning out the money into different products was appealing to him. The shortest annuity we used was a 1 year at 3%.

10% withdrawals won't cut it for this guy?

what was the one year at 3% product?

I'm going back on Friday to hit some points home again with him. Basically I'm also going to tell him he can have his liquidity and better returns all while the money being safe by just moving a small amount or 25% of his money. Once that happens I'll try and peel away more but some folks at 79 are just a little stubborn.

The nice thing is the wife likes my ideas and I'll stay in touch a few times a year by dropping by their business. If something happens to him I know I'm gonna have no less than a million dollars to work with.