Quote:
Originally Posted by retiredguy123
I would never buy an annuity. The advisor is recommending it because they want to make a commission on your money that will be about 10 percent of the cost. So, if you invest $360,000 in the annuity, the advisor will make about $36,000. I very nice pay day. Don't do it without doing a lot of research on annuities. They are almost never a good investment.
On a $200,000 long term capital gain, the tax should only be about $30,000, which is 15 percent, unless there are other circumstances.
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That is wrong……they don’t make 10%
Why you roll into a new annuity because he can spread the taxes over the years. FYI annuities are not long term gain they are tax as ordinary income. Maybe you should not advise people on what you are not sure on.
There are a lot of good annuities they can look into.