Talk of The Villages Florida - View Single Post - Inheriting non-spousal annunity
Thread: Inheriting non-spousal annunity
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Old 08-18-2021, 07:00 AM
Mohawksin Mohawksin is offline
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Originally Posted by Gigi3000 View Post
I'm 63, cost basis $160000, gain $200000. Bank advisor offered indexed variable annunity, 10 year spread. Anyone familiar with these? I have no experience with annunities. Trying to figure out whether to take lump sum and just pay the $70000 tax bill or do the annunity. If I take the annunity I'd put it into index mutual funds. My situation is very simple...I have no income, lots of savings, no mortgage on home, no tax deductions. If take annunity, goal.would be income I guess. Not taking social security, maybe take at 65.or wait until 70...
OP -- where did the money come from?. Did you inherit it? If so, the rules change and have not been mentioned. The question initially lies with a CPA in your state, then with a CFP.