Don’t Automatically Annuitize an Annuity—Shop Around
July 13, 2021 by Retirement Daily Guest Contributor
If you’ve saved up a lot of money in an annuity, you’re in a fine position for a financially secure retirement. Once you are retired, what’s the best way to get your money out of your annuity?
All cash-value-type annuities, whether fixed-rate, fixed-indexed or variable, are tax-deferred until you take money out. If you’ve owned an annuity for many years, you probably have significant untaxed gain built up. It’s a good problem to have.