Right now I have CD type annuity that I plan to move to a deferred annuity. I am looking for retirement income and trying to convince my portfolio manager on difference between that and asset allocation
What about taxes on annuity payouts? Am I taxed on the distribution as ordinary income? Will I have to take out more money to set aside money for taxes? Thanks!
@scotttroy7159 If your annuity is purchased with qualified money (IRA/401k...), yes all will be taxed. If an annuity is purchased with after-tax money, only the growth is taxed (deferred until distributed.
Tom your explanation was about helping clients to solve their real life problems. Absolutely practical! Thank you.
I was in variable annuities for a while and just moved to a fixed index annuity. Hopefully I made the right choice .
Brilliant explanation, Tom!
Great information as always Tom! As bond yields continue to decrease, the guarantees annuities offer become even more important
Agree, by the way Susie Orman now recommended income annuities on PBS. I have the video!!
Do you have that video link? Thank you in advance. I was looking for it. Have an amazing Christmas!
So here we are one year later, the market is crashing, and I'm wondering why this super valuable video has such low viewership! SMH
KF will be selling VAs in short order.
Right now I have CD type annuity that I plan to move to a deferred annuity. I am looking for retirement income and trying to convince my portfolio manager on difference between that and asset allocation
Well said
What about taxes on annuity payouts? Am I taxed on the distribution as ordinary income? Will I have to take out more money to set aside money for taxes? Thanks!
@scotttroy7159 If your annuity is purchased with qualified money (IRA/401k...), yes all will be taxed. If an annuity is purchased with after-tax money, only the growth is taxed (deferred until distributed.
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@@tomhegna6940 Thanks! I am in Josh M’s agent group. 👍🏻