- If your annuity has a gain, and you cash in the annuity, you will pay ordinary income taxes on any gain.If there is a large gain in your annuity, instead of cashing in the annuity, you can exchange it (called a 1035 exchange) for a no-load variable annuity that has lower expenses.
And for many of us, tomorrow may be closer than we think.
If you can reduce fees by 2% a year on a 0,000 investment.
You will save well over ,000 over a ten-year time frame.
Here are some of the withdrawal options for annuity owners, including a review of some recently-added alternatives.
Kevin Mc Kinley CFP is Principal/Owner of Mc Kinley Money LLC, an independent registered investment advisor.