CD IRA RMD vs annuity proposal
I’m 70, single will need to take distribution starting April 2027. Both are CD’s. One is 230K, another is 50K. I initially pulled 230K from my investor to avoid fees. My investor wants to meet to possibly rollover to a Roth IRA, Annuity ( rather not open another annuity) etc ?? My tax rate is 15, have 400K in other investments. What type of account would be best with some interest? Thank
Terry Says
Your first move should be to find a new advisor — and get as far away as possible from this one! They are concerned about their own retirement– not yours — looking for a juicy commission.
Second, 2027 is a long way away! You can leave your money in CDs until then. Or you could have a small portion invested in the stock market — depending on your income and other assets. Only a true FIDUCIARY financial planner, fee-only, and not trying to sell you something would be able to advise specifically.
Find one at: Pam Krueger Wealthramp – Terry Savage
In the meantime, just leave your money in the bank!!
