You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,

and outrageous generosity.

Jared is an Altoona Pennsylvania.

Hi Jared, welcome to the Ramsey show.

Hey David Kristina, I hope you guys are having a good day today.

We are?

How can we help?

So my question kind of in a whole package deal today is my grandparents had their retirement

funds in a annuity that matured after 10 years, right?

And about around last year I looked into what the retirement plan was and it looked like

that their retirement was basically getting zero interest per year on that annuity, but

they were still still taking out their fees.

And their expenses that the service that they had it in.

And so I decided that I was going to manage their funds for them and I decided to pull

that retirement out and roll it over into a traditional IRA.

But doing that it was a 5% penalty because there's only five years into the annuity

and it was supposed to be a good deal.

Oh you made that up in one year.

That was brilliant.

Yes.

Yeah, if they were making zero and you moved them into mutual funds making 10 or 12, they've

made 10 or 12 first year, they lost five so they only netted seven after that they make

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