• Question
  • Annuity purchase when no need to annuitize (ever) is anticipated

    Asked on 7/9/2012

    For an 82 year old retiree (whose retired husband is 87 --- both considered in good health for "octo"s) owning a fully taxable variable annuity with surrender value in excess of 300,000 (no CDSC), AND who does not foresee the necessity to annuitize as an eventuality,
    1. is there variation in types of FIXED annuities available, and
    2. is a 1035 exchange to a fixed annuity a reasonable choice?

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  • Categories: Taxes, Rollovers, Pensions and Retirement Benefits, Fixed, Annuities

Answers

  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • It is great to hear your situation. Congratulations on your good physical and financial health!

    Your question is probably best answered by a Financial Advisor who can assess the tax and estate implications of your decisions. Or, you may want to consult with whomever sold you the annuity and see if they can provide any useful guidance.

    If interested, you can get matched to a prescreened advisor here:
    http://www.newretirement.com/financial-advisor-marketplace.aspx

  • Login to rate this answer:   Answered on 7/12/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.