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Originally Posted by FL2021
I have always been cautious with annuities, but I recently came across an Athene annuity that allows "roth conversion" within, or inside, of the annuity. It also comes with an upfront big bonus, especially if you're under age 65. Have you heard of this product or any comments?
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If you are trying to avoid taxes by converting traditional IRA funds into a Roth IRA by doing it within an annuity, I don't think it will work. In any event, I would not accept an annuity company's opinion or advice on this. You need to consult with an independent tax expert.
I don't like annuities at all, but I would never use IRA funds to purchase any annuity. An IRA and an annuity both have the advantage of tax defferal. But, with an annuity, you are paying higher fees, and reducing your liqudity to get the tax deferral advantage. So, you are paying for something that you already have with an IRA.