Are there required minimum distributions for annuities?
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- Опубліковано 23 сер 2024
- Are there required minimum distributions for annuities? It’s a great question that we’re going to discuss and go into detail about how all of that stuff works.
UPDATE: Today's limit is now $145K
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Key Moments in this Episode
1:11 Can Annuities Be Placed In IRAs?
2:28 What Are Required Minimum Distributions?
4:50 Single Premium Immediate Annuities
5:51 Qualified Longevity Annuity Contracts (QLACs)
7:14 25% of IRA Assets Explained
10:15 Subscribe!
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When I turned 72 this year, I sold about 2/3 of my IRA and bought a SPIA. It reduced my RMD, but there is no free lunch. The SPIA is taxed as ordinary income. But we love the guaranteed income.
I still had an RMD this year, but I plan to buy a QLAC in 2023.
Thanks Stan. I am not a consumer, but I’m a registered rep who is fresh out of college and joined the industry with no knowledge of how anything works. Your videos helped me gain a good foundational understand of fixed annuities and how they work. Thank you!
Thank you for the kind words! I'm glad to hear that my videos have been helpful in building your foundational understanding of Fixed Annuities. If you have any more questions or topics you'd like covered, feel free to let me know! Thanks for watching.
If this video was recorded in 2022, then the IRS QLAC limit is $145,000 not $135,000.
You are correct! Today's limit is now $145K
Thanks for the info.
You’re welcome! Thanks for watching.
Implied, but not explicitly stated... If the annuity is held outside of a qualified account? Are there RMDs then?
no
RMDs are for qualified money.
So why do you not do variable annuities.
Great question, please feel free to book a call with me to discuss!
www.stantheannuityman.com/book-a-call/