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Should You Have an Annuity Inside an IRA?
 

Should You Have an Annuity Inside an IRA?

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Should you have a variable annuity inside of an IRA? Absolutely not, learn more about why this is not an investment strategy you should be employing.

Should you have a variable annuity inside of an IRA? Absolutely not, learn more about why this is not an investment strategy you should be employing.

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    Should You Have an Annuity Inside an IRA? Should You Have an Annuity Inside an IRA? Presentation Transcript

    • Mullooly Asset Management Podcast October 30, 2013 Mullooly Asset Management October 2013
    • An Example  Client of Mullooly Asset has an annuity she wants to surrender  Her CPA suggested NOT surrendering Mullooly Asset Management October 2013
    • The Facts Client began with $205,000  Received $5,000 each year as required minimum distribution – 11 years x $5,000 = $55,000  Should be $150,000 today if annuity earned nothing  Today’s value : $87,000 Buried in the annuity contract is this gem: Annual Management Expenses - 2.95% Mullooly Asset Management October 2013
    • The Annuity is Inside an IRA If you have an annuity within an IRA and are age 59.5:  You can surrender that annuity  (In most cases) surrender charge will be waived because it is considered an IRA distribution  You will have 60 days to deposit the funds into another IRA Mullooly Asset Management October 2013
    • Annuities and IRA’s Don’t Mix  There are no benefits in having a tax deferred investment (the annuity) inside of a tax deferred account (the IRA)  By doing so you may also be limiting what investments you can own  It also probably increases the expenses of the IRA by generating fees or commissions for the broker Mullooly Asset Management October 2013
    • None of the securities mentioned in this (or any) podcast or video represent past specific recommendations of Mullooly Asset Management. This video is NOT a recommendation to buy or sell any of the securities mentioned here. If you’re relying on a podcast for investment advice, you are likely making a huge mistake. We strongly urge our listeners to consult with their investment advisor before they make a decision to buy or sell any investment. Mullooly Asset Management October 2013
    • Mullooly Asset Management, LLC support (at) mullooly (dot) net 732-223-9000 www.mullooly.net Mullooly Asset Management October 2013