Although the appeal of having guaranteed income after retirement is undeniable, there are actually a number of risks to consider before rolling your 401(k) into an annuity. In addition to the sometimes hefty fees incurred by annuitants, you risk losing part of your investment if you die prematurely, as you may not be able to pass the remainder of the annuity on to your beneficiaries.
Many insurance companies tout the tax benefits of annuities. However, a traditional 401(k) is already tax-sheltered, and a delayed rollover could cost you in taxes. Extra Fees
The chief benefit of annuities is that […]
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