Is there any way to avoid paying taxes on an early withdrawal from a variable annuity?
I panicked and withdrew my variable commercial annuity in september 2008 from a company that was reportedly going bankrupt. I withdrew the amount before the age of 59 1 2, now I realize I have a HUGE tax penalty. Is there any way to put it back in the annuity without a penalty?It's already been past 90 days...is there anyway to turn it over AFTER that without penalty?
A variable annuity IRA at age 28?? Is this normal?
A year ago I didn't know anything about investing and I lost my job so I decided to do a 401K rollover. Not knowing too much and not being told everything my life insurance agent friend put my money in variable annuity IRA at age 28. It was a front end design and I can take out my money with out a surrender fee. What's your take on all of this? Should I be angry? Any info would be greatly appreciated. I want to take my money to Vanguard.
Should I be invested in a variable annuity?
My fiance's " financial advisor" put her into a tax sheltered annuity because she had no idea about how to invest. The more I read up about them they sound like a terrible, commission producing scheme. My fiance is 27 years old with a steady income. I recommended an IRA with diversified mutual funds. Does anybody have trustworthy input? And can she get out of the annuity and roll her contributions into another option? Thanks for your help...
Flexible premium variable annuity?
My mother has a large sum of money in a Flexible Premium Deferred variable annuity, Is there any way that she can get a lump sum of tha money to reinvest into a smaller home and pay off some of her debt? She is ready to claim bankrupsy Is there any other options for her?
IRA's, Variable annuities and everything else: What do I do?
I'm in the middle of a 401K transfer, via QDRO, after a divorce. This is a large sum of money and I am so clueless about it. I got connected with a FA who is turning out to be a slimeball and set up a variable annuity for me.I have an appointment to talk to another FA, that is a family friend. Over dinner I asked him about variable annuities and told him some of the things the other FA said. He laughed.This is pre tax money and I need to invest it as such. 401K is not an option. I try to educate myself, but everything is so confusing to me. The variable annuity seems risky with high fees. But with the market the way it is...I just don't know.Any advice appreciated.I'm not committed to the variable annuity. Why are they so " not good."
Need Opionion on Pacific Life variable annuities?
I was looking for opinions on variable annuity. I am 30 and would be investing long term but have read there can be too many fees to make the tax benefits worth it. I haven't researched or met with other companies as of yet but it seems that Pacific Life is more expensive than others. Any opinions or suggestions?
