I am in this situation with my spouse being a decade younger than me. TIAA makes it nearly impossible to understand options - they direct you to what is best for them - not you. So we hope to extract the funds over ten years and reinvest elsewhere. The lifetime annuity path payment was ridiculously low.
I wholeheartedly disagree with your assessment ot TIAA, which I have been connected to throughout my decades of employment (I, too, had a much younger spouse).. Having put 10-15% of my PRETAX INCOME into my account, I have those monies held in different savings categories, about which my retirement agent(s) have been very clear (NO annuities, by the way, which they guided me away from). Were I you, I'd call your spouse's personal agent at TIAA. for inheritance laws, etc.. I also have a home in a ladybird trust which means no inheritance tax, but that depends upon your home state.
Hi Dr Steve, the liquidity associated with your TIAA Traditional will be dictated by the type of contract that holds that Traditional investment. Feel free to email me with your contract type and I'll shed some light on it for you. greg@shepardfinancial.com
oh boy. looks like i'm making an appointment with my TIAA agent
I am in this situation with my spouse being a decade younger than me. TIAA makes it nearly impossible to understand options - they direct you to what is best for them - not you. So we hope to extract the funds over ten years and reinvest elsewhere. The lifetime annuity path payment was ridiculously low.
I wholeheartedly disagree with your assessment ot TIAA, which I have been connected to throughout my decades of employment (I, too, had a much younger spouse).. Having put 10-15% of my PRETAX INCOME into my account, I have those monies held in different savings categories, about which my retirement agent(s) have been very clear (NO annuities, by the way, which they guided me away from). Were I you, I'd call your spouse's personal agent at TIAA. for inheritance laws, etc.. I also have a home in a ladybird trust which means no inheritance tax, but that depends upon your home state.
What do you mean by "wasn't illiquid? What is it and how do we find out if we have an illiquid or liquid arrangement?
Hi Dr Steve, the liquidity associated with your TIAA Traditional will be dictated by the type of contract that holds that Traditional investment. Feel free to email me with your contract type and I'll shed some light on it for you. greg@shepardfinancial.com