401k Rollover to an Annuity
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- Опубліковано 27 вер 2024
- What we’re talking about today is rolling your 401K into an annuity, and if that is something you should do, could do, and if it makes sense for your financial situation.
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Stan The Annuity Man
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Key Moments in this Episode
1:25 Do you even need an annuity?
2:39 Issue of putting too much of your 401K into an annuity
3:54 Details about Index Annuities
5:39 Annuities are commodity products
7:20 401K should be rolled into an IRA
8:48 Book a call with Stan The Annuity Man!
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Great presentation thank you
Thank you for watching!
Nice to see an honest person in this industry. Thank you for your transparency.
Thanks for watching!
I enjoy your videos, and just recently read your 6 annuity "owner manuals". Thanks for all the great info! I haven't found anything yet on how "rule of 55" works with annuities. I'm about to turn 50 and hoping to retire at 55. And using the "rule of 55" I can pull money out of my 401k at 55 with no early withdrawal penalties. At that point I was thinking to setup 2 annuities (SPIAs) one that would be a lifetime one and another that would be a kind of financial bridge from 55 until I can start taking social security at 62. Does "rule of 55" apply to those annuities so that there would be no early withdrawal penalties? Appreciate your insight!
Thank you! For me to give you an answer about your specific situation, please feel free to book a call with me!
www.stantheannuityman.com/book-a-call/
After 401 to IRA to Annuity co. IRA (without a tax event), then is it taxed as regular income when monthly distribution payments begin? Is there money withheld from the payment for tax purposes or does the annuity co send a 10-99 at the end of the year?
My wife and I have 3 annuities. Yes - when the money comes out - it is taxed. You can have money withheld for taxes (generally a good idea). Yes they send a 1099-R in Jan.
Thanks!
For me to give you an answer about your specific situation, please feel free to book a call with me!
www.stantheannuityman.com/book-a-call/
5:47 See I think that's what's messed up. Why are annuities community products? March 1979 to March 2009 the S&P 500 returns over 10%. Again, why don't we have insurance products so I can get that 10%. But then I don't have to plan on my money lasting until I am 95 years old? The insurance company could theoretically do this so I can take the average and get a safer higher return that I could do it myself. That's what's messed up with all of this. But again, you have to split up your investments so your dividend from 30 years ago isn't hidden.
You may be confusing historical market returns with “sequence of returns” risk. Example: you retired in 2000 with a million $ in S&P 500. You need 50k a year to meet your bills and obligations. No big deal, right? That’s 5% a year. The problem is that there was two times that decade where the market sold off at or near 50%. But you’d still be drawing down 50k a year to survive. But now you’re selling shares that have lost 40-50% in value. Effectively selling low. So even when the market recovers (year later), you will be hard pressed to recover your losses. This is just a crude rudimentary example. Annuities allow older/retired folks to reduce market risk. I don’t care if the market is temporarily down 40-50% for a few years if my annuity is providing me a steady consistent stream of income.. with LESS risk.
I don’t own an annuity. I’m in my early fifties.. just don’t make sense for me, as inflation could ruin me if I live another 30 years. But in 15
-20 years, I will surely take risk off the table… AND convert a portion of my investments for less risky income.
My paper works says I have an 401k annuity plan....
What's that mean?
For me to give you an answer about your specific situation, please feel free to book a call with me!
www.stantheannuityman.com/book-a-call/
Rollover to which annuity, a QLAC or Deferred
For me to give you an answer about your specific situation, please feel free to book a call with me!
www.stantheannuityman.com/book-a-call/
Hi Stan, you have been very informative, my wife has 225K in a TIA CREF that hasn't done very well for the past 20 years. We are considering moving 100K to a product by Allianz Benefits of North America, ever had any dealings with them, they seem solid?
For me to give you an answer about your specific situation, please feel free to book a call with me!
www.stantheannuityman.com/book-a-call/
Alliance is a top rated company, have 1, getting another
Im 32 and someone sold me on taking my 401k to an Annuity account. I’m still not at one year and if I’m reading the surrender chart correctly I have before year 1 to withdraw for free. Can I move it back to a IRA?
For me to give you an answer about your specific situation, please feel free to book a call with me!
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No no no
I can get a lifetime income by keeping it in my 401k. That way I don't have to pay any huge commissions.
If you have any questions, please feel free to book a call with us to discuss!
www.stantheannuityman.com/book-a-call/
Don’t worry about absurd commissions and fees, you are getting certainty!
In a fixed index annuity, the insurance company pays the agent the commission. Not the client. So the client would pay nothing to the agent.
Please be advised, you don't pay ANY commissions, big or small in an Indexed Annuity, the insurance company pays the agent.
Hi Stan. Let’s say someone has 700k in an 401k. Are you saying most annuity sales folks would frown on selling a 500k annuity because it’s too big a chunk of their 401k? If it’s guaranteed income you need I just can’t wrap my brain around why the annuity insurer would try to discourage it. What are some of the main cons of spending too much on an annuity. Thanks.
For me to give you an answer about your specific situation, please feel free to book a call with us!
www.stantheannuityman.com/book-a-call/
I'm not sure what regulations are for an annuity. But if you think about splitting up all your investments and start this at age 18 so every investment last 30 years or longer. The most efficient way to realize your delayed gratification investments is to pool your money with others so you as an individual can put your death date around the average rather than creating a safety buffer. An insurance company is the only way that's possible. But again, I wonder if there's regulations that prevent this. Also, remember the dividend gets hidden when you lump everything into one fund or a few funds 10-45 times over and over. I split up my investments not for a higher return, but so it give me access to sell at the return range that the market has given since world war 2.
I thought about retiring at 57 and rolling 200k from my 401k into a 5 year annuity and roll the rest into an IRA.
If you have any questions, please feel free to book a call with us:
www.stantheannuityman.com/book-a-call/
WOW nice apartment.