http://www.taxfreeinformation.com Walter Horton from Celestial would like to talk to you about the myths of 401K. Walter explains and compares the differences between 401K plans vs. annuities. Contact us for a free consultation at 760-476-1535 or visit our web site at www.taxfreeinformation.com today to get your retirement planning on the right foot!
Walter is referring to Required Minimum Distributions (RMD's). These are required of ANY retirement plan, including 401k's and annuities. Also, the growth in a annuity is taxable, even with non-qualified (taxed) funds put in the annuity. You just aren't paying tax on the entire dollar amount withdrawn. What wasn't mentioned was annuities can pay you for life once an income stream is begun (after 59 1/2). Also, he seemed to miss the guarantee against market losses.
CJontop 1 year ago