Quote:
Originally Posted by trainguy
Hello,
I have no excuse for myself, but in 2000 I purchased a variable annuity,
saw it plunge and now see it having earned just under 3% yearly. Yes,
I did this.
As you'd expect, I am getting subtle suggestions (pressure) to roll the
funds into one of the 'new & improved' variable annuities. Gee, it's
guaranteed income and they'll add 5% to the year-end balance for
the 1st 10 years. For a cost, of course.
I am just out of the surrender fee period and am 59.5. I am ready to
move this amount into something else. Does anyone see a variable
annuity (and its fees) to be better than other options ?. I know that
each situation is somewhat different, I'd just like to see if these
vehicles have worked for others ?
Thank you.
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Your age factors into this.
As does the amount in the VA.
As does you need for the income from the VA once you annuitize.
When do you plan to retire?
What is the benefit if you annuitize now?
What is the expected benefit if you annuitze at a later date?
What are penalities if you annuitize a new VA later (can you annuitize if you have not passes surrender period on a newly purchased VA?).
How is the sub account of the VA invested?
Do you have other retirement assets? How much? When do you plan to retire?