2007-10-25 08:29:50 · 3 answers · asked by orangefouch 1 in Business & Finance ➔ Personal Finance
no
2007-10-25 08:37:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If within the annuity.... yes (1035 exchange or within fund family). Make sure there are no pre-contract fees for a holding period like 7 or more years.
If outside the annuity....... most likely heavy penalties. Read the fine print.
Your big mistake was buying a tax deferred annuity. Forgetting what the sales person implied to you. Most people should never buy an annuity. Roughly 98% of these investment products are sold to peolpe that won't benefit from them. The fee's are extraodinery. The returns are less than average. Taxes can be higher than just buying regular mutual funds over the long term (15% capital gains treatment vs. an annuity which gets taxed at your earnings rate).
2007-10-25 17:43:53 · answer #2 · answered by Common Sense 7 · 0⤊ 0⤋
Do you mean transfer from or within the annuity?
2007-10-25 15:35:21 · answer #3 · answered by HH@20 2 · 0⤊ 0⤋