Liquidating annunities

- 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.

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