†Tax deferral offers no additional value if an IRA or a qualified plan, such as a 401(k), is used to fund an annuity and may be found at a lower cost in other investment products. It also may not be available if the annuity is owned by a legal entity such as a corporation or...
What is an annuity? An annuity is a contract between you and a life insurance company in which you pay a lump sum or make a series of payments and the insurer invests the money in the market. In return, you receive a guaranteed monthly income. Banks, fintechs and brokerage firms also...
Additional financial planning flexibility: Even with an IRA, employer-sponsored qualified retirement plan and Social Security payments, you may still have a retirement income gap – the difference between the cost of your retirement lifestyle and these various sources of income...
A lump sum distribution from a tax-qualified defined benefit or 401k, or an IRA account.Why should I consider buying an Immediate Annuity? What are its advantages to me?An immediate annuity comes with many important advantages. Here are just a few: ...
And you won’t have to worry about taking required minimum distributions (RMDs) after age 73 — unless your annuity is part of an IRA or retirement plan. (If you withdraw from an annuity before you turn 59½, however, you may face a 10% penalty.) You can personalize your annuity to...
Unlike a conventional IRA, the money you put into an annuity is not deductible from your taxes. And also unlike an IRA, you may put as much money into an annuity as you wish. A variable annuity is especially attractive to a person who makes lots of money and is trying, perhaps late ...
IRA/401(k) RolloversGet to Know Mark Andra Mark is committed to helping individuals and families achieve their financial goals and live their ideal retirement lifestyle. “I get the most satisfaction from helping people like my dad,” says Mark. “My dad serviced pools in Beverly Hills for ...
IRA/401(k) Rollovers Get to Know Mark Andra Mark is committed to helping individuals and families achieve their financial goals and live their ideal retirement lifestyle. “I get the most satisfaction from helping people like my dad,” says Mark. “My dad serviced pools in Beverly Hills for...
If you love the idea of "pulling a paycheck" in retirement, an annuity might be what you're looking for. Annuities give you a steady stream of income and they're customizable, so you can purchase one that matches your risk tolerance and financial needs. As always, it's a good idea to...
Remember that earned income does not include certain forms of compensation, including those from a pension, anannuity, orSocial Security. It also doesn't include investment income or earnings generated by assets. This means that the money you contribute has to be earned from work you're being ...