cashing in ETFs

[mabeje]

Hi, I'm brand new to this forum and have been searching for a place to find answers. I'm rather ignorant about investments, so I'm hoping you can help me.

I need money quickly! I have some investments, mostly in Ishares. One is Lehman Aggregate Bond Fund for around $11,000. If I want to cash it in, how long does it take, and do I just tell my financial advisor that this is what I want?

Thanks!

[disneysteve]

ETFs trade just like stocks. You go to your broker and put in a sell order. The shares get sold and it usually takes a few days for the trade to settle and those funds to be released to your account. Basically, the same is true for the mutual fund shares. You put in a sell order, the shares get sold and you get the money.

Don't forget to include commission costs and taxes when figuring out how many shares you need to sell to net the amount of money you are in need of.

[mabeje]

Thanks, Steve!