Expert: Doug Ingram - 10/23/2009

Question
I have money put away in bonds but need to take some out. how do i go about doing that? also if there is a time limit on those bonds and i break the time limit by taking money out what happens?

Answer
Just call your broker.  you will find some are more "liquid" than others.
Some should be at profits (depending on when you bought them).
If you have corporates or munis, some may be worth less due to downgrades.
You can't know without getting a brokers help.

There is no time limit.  The bonds will mature and go back to cash in your account unless they become impaired for some reason.
Also, you could buy them and sell them the next day, so no time limit there either.

The main reason people buy bonds is for safety and liquidity, so getting you money shouldn't be an issue.
Buying odd-lots (small pieces) and/or lower-rated issues can make it a little more difficult, and the bonds could be worth less than you paid.