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The tax treatment varies depending on whether you bought the annuity with pre-tax (qualified) or post-tax (non-qualified) funds. For qualified annuities, withdrawals are fully taxed as income.
Pros and Cons of an Annuity for Retirement. Annuities are like any other investment in that they have both pros and cons. Here’s a rundown: Pros. Contributions are tax-deferred. With an annuity ...
The top benefits of annuities include: Predictable income: For fixed annuities, the income is predictable, helping you plan your finances with more confidence. Your annuity payments arrive on a ...
Whether you hold your annuity inside a tax-advantaged retirement plan such as a 401(k) or IRA – and whether it’s a Roth account – can also affect how an annuity’s distributions are taxed:
Annuities are one type of retirement investment, but they aren’t the only one. You may want to think about other retirement options, including: Tax-advantaged retirement accounts.
Advantages: A deferred annuity helps you set up an income stream when you need it, typically in retirement. You can fund the annuity over time, instead of with a single lump sum.
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