Annuities

An IRA is a retirement investment account, but an annuity is a type of insurance. Annuity contracts are more expensive than IRAs in terms of fees and expenses, but they don’t have yearly contribution limits. Your annuity payments will be taxed differently depending on whether you purchased it with pre-tax or after-tax monies. The taxation […]

In a recent piece, I talked about some of the disadvantages of variable annuities. The high fees, deceptive guarantees, and tax treatment can make investors feel uneasy. But what if you’ve purchased a variable annuity and are experiencing buyer’s remorse? To get out of a problematic variable annuity, you have a few options. Take the

Despite the fact that pension plans qualify for a tax deduction, the maximum allowable deduction on life insurance premiums under the Income Tax Act of 1961 is Rs 1.5 lakh. The annuity is taxable as of the date you receive it after retirement. To ensure that your retirement payout is sufficient, you may need to

You will be obliged to pay Uncle Sam a 10% early withdrawal penalty as well as ordinary income tax on your investment returns if you make withdrawals before you reach the age of 59 1/2. (You will not be taxed on the amount you put into the annuity.) If you take withdrawals within the first

Athene Annuity and Life Insurance Company has an A rating from AM Best and is a key player in the annuity business in the United States. How does Athene annuity work? Fixed indexed annuities are insurance products that give both downside market risk protection and growth potential by delivering a fixed interest rate for a

In retirement, annuities can provide a steady income stream, but if you die too young, you may not get your money’s worth. When compared to mutual funds and other investments, annuities can have hefty fees. You can tailor an annuity to meet your specific needs, but you’ll almost always have to pay more or accept

While the bulk (but not all) of your Social Security income will almost certainly be taxed, your FERS Supplement will be taxed in full. What is a FERS supplemental annuity? In addition to your FERS annuity benefits, you may be eligible for a FERS Retiree Annuity Supplement, often known as the special retirement supplement. It