Answer 1/1 - Submitted 2/23/2011
The best time to withdraw money is after you reach age 59 1/2. If you decide to withdraw money before then your money could be taxed as ordinary income and you must pay an additional 10 percent on the withdrawal as a penalty to the IRS. You may also have to pay a fee, referred to as a surrender fee, to the manager of your annuity fund.
Type your Answer in the box below and post your answer.
Related Questions (Ask a New Question)
Grandpa has alzheimers and is in the nursing home @ $6500/mo. grandpa needs to apply for medicaid. grandma has annuity, grandpa has an annuity, and they have an old joint annuity with joint ownership and grandpa as the annuitant. will grandma's annuity be counted as an assett or is it viewed similar...
What is structured settlement annuity,explain in detail and also tell me what is the best way to sell structured settlement annuity?
I wonder if indeed that i have two separate irs's. monies were taken from my ira to purchase an annuity. i recently received notification from the annuity company regarding the need for a mrd. as the annuity is earning more money than the ira i wish to not withdraw from the annuity. can't...
|
Grandpa has alzheimers and is in the nursing home @ $6500/mo. grandpa needs to apply for medicaid.... |
|
What is structured settlement annuity,explain in detail and also tell me what is the best... |
|
This is a follow-on to my previous question regarding "two" ira's. I wonder if indeed that i have two separate irs's. monies were taken from my ira to purchase... |
|
Taxable portion of survivor's annuity I am receiving $13,884 annually as a survivor annuity, due to the death of my husband (former... |
|
My dad passed away and my mom received $34,000 from an annuity in his name. must she pay... |
Ask A Question
Ask a new question about
Annuity: