Annuity into IRA?
How do I handle an annuity coming to maturity and can I open a Roth IRA? I am retired. Thanks.
Terry Says
No, you can’t open an IRA unless you have “earned” income — which is not retirement withdrawals or interest. BUT, you can roll the annuity directly into another product. Perhaps, depending on your age, it’s time to supplement your current income with an immediate annuity — one that starts paying you a lifetime benefit. (And if you’re worried about how long you’ll live, you can add a death benefit, which will reduce your monthly check). For trusted info contact my expert, Stan the Annuity Man at 800-509-6473. There are no “commissions” in these immediate annuities so you won’t get a sales pitch — just good advice.
