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Taxtom
Taxtom , Accountant
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Experience:  25 Years in preparing Personal and Business Tax Retuns
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I won a law suit for my handicapped son.The money went in a

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I won a law suit for my handicapped son.The money went in a special needs trust and we were living on it .It was around 1,000,0000 taking 4 percent a year since I stay home to take care of him.It is invested moderately,as the bank told me.Now I look and I have 650,000 after 5 years because after the hit in 2008 and the recent hit in the last couple months it dropped.First 200,000 and now about 80,000.Im very nervous .Would some type of annuity be good for him since we need a fixed income or maybe I cant with draw at all and try and find some type of work.The market is awful and Im nervous for our future ,he is only 17 now.I take about 4 percent but fear if I continue to take with the market so bad it will be nothing soon, but it keeps dropping.Shuld I just pull out and put it in a huge bond?Should I take whats owed to me and try to put it in our own bank account and start investing,Its a court ordered withdrawals and Im afraid if i tell them to stop I wont get the money again without another court order.Thanks
Submitted: 4 years ago.
Category: Finance
Expert:  Taxtom replied 4 years ago.

Taxtom :

Hello, I would leave it where it is at and go to another investment counseler and have them review the investments. I still think even with all the downturns it is best to leave it in the market as the history of the market shows an average return of 15%. I think we will have about 18 months to 2 years of these up and down cycles but after that it should recover most of the losses and start to grow. If the investments are not suitable then change the investments but do not pull out of the market. Thanks Tom

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