Wednesday, August 27, 2008

This is Good News???

Yesterday when I came home there was a message on my answering machine. It was from my financial advisor who usually never returns my calls. Since I hadn't been trying to call him, I was surprised to hear his voice on the answering machine.

He told me that he had "good news." The money that I had deposited to my son's college account never went through. There was a mixup with the advisor's name on the account. He's going to send me some paperwork in the mail for me to sign to get it fixed. He went on to say that the money I deposited (in June) has been sitting in the account as cash (instead of invested in the various stocks or whatever else do with those kind of accounts). Since the stock market has gone down 20% recently, that meant it was good news for me that the money was still cash because it didn't lose 20% like the rest of my son's college savings account.

Somehow his message of "good news" didn't leave me feeling very good.


Elizabeth said...

I know what you mean...
We have had a similar situation with the 401k, yikes.
good thing we're in it for the long haul.
Pax, E

Michelle said...

Loooovely. Those are definitely the kinds of messages that I don't like receiving. Did you at least get an "I'm sorry and this is how I'm going to make sure that it never happens again" part of the message?

girlytwins said...

Oh Goodness. Well I guess he was looking on the bright side.