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Fix My Portfolio

If you’re having cold feet in the ‘free look’ period, then you may have options.

An annuity contract will likely have a short time period like 30 days where you can change your mind without penalty. Photo: Getty Images/iStockphoto

Got a question about investing, how it fits into your overall financial plan and what strategies can help you make the most out of your money? You can write to me at beth.pinsker@marketwatch.com. Please put “Fix My Portfolio” in the subject line.

Dear Fix My Portfolio,

I just invested $200,000 in a single premium annuity which will pay me $1,427 monthly beginning in January 2025. I’m still in the 30-day look-back window where I could change my mind and cancel the contract. Should I keep it or not?

Beth Pinsker is a financial-planning columnist at MarketWatch. She has been a certified financial planner (CFP®) since 2018. Previously, she was a personal finance columnist and editor at Reuters, an editorial director at Fidelity and editor-in-chief ofWalletpop.com. Prior to covering personal finance, she was a film critic and entertainment business reporter, writing for Entertainment Weekly, The Dallas Morning News and many more publications. You can follow heron Twitter @bethpinsker.