Tax-deferred annuity
I’m 72 this year, 2024. I will need to take the Required Minimum Distribution (RMD) from an IRA soon. Is it a good investment strategy to move money from an IRA to a tax-deferred annuity (with beneficiaries), to reduce the RMD? All through Fidelity. I have chicken money.
Terry Says
Moving money into a tax-deferred annuity does not reduce your RMD — which you will take in 2025 when you turn age 73. That RMD is based on the total value of your IRA.
Don’t mess around with tax-deferred annuities at this stage of your life.
