Annuity payments to IRA?

[Boomer67]

I have a variable lifetime annuity that I will start receiving payments on in January 2013. I have an IRA that's doing well in this economy. Should I invest the annuity payments in my IRA? I don't have th annuity funds targeted for anything in particular and part of it will end up is savings.l
thanks

[disneysteve]

You can only invest earned income in an IRA, so technically, you can't use the annuity payments for that purpose unless you also have earned income.

[chrisburke21]

Annuity payments

Disney Steve brings up a good point. Do you have any active income? If so maybe you can funnel some your wages into the IRA. Otherwise you can still invest this money, it just wouldn't be tax free.

[GrimJack]

Money is fungible but you have to have earned income to put money into an IRA - you could get a part-time job and put 100% of your earned income into an Ira. If you already have earned income, put that into the IRA and replace it with annuity income.