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by Pete on March 7th, 2009
You cna always cash out of a mutual fund unless it's in a 401K or IRA. Even then, you can do so without a penalty under some circumstances. I believe that payment for college education may qualify to cash out a portion without penalty, but you should find out from your fund administrator.
by Pwnfessor on March 7th, 2009
You can always take money out though you may be penalized with fees for taking it out before a certain time. It really depends on how you have it set up and if it is linked with a 401k or IRA. Call your financial advisor for more information.
by Yarnlady is happy every day on March 7th, 2009
If you have put the money in for a specific time and take it out before the maturity date, you will have to pay a penalty according to whatever the account agreement says.
If it is a depository account, you can often make withdrawals as allowed by the agreement.
Read the papers you signed when you opened the account, or ask the bank, since the agreements are sometimes changed.
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