2007-11-09 05:07:08 · 4 answers · asked by Tam 1 in Business & Finance ➔ Personal Finance
Absolutely not. Annuities are dinosaurs, financially speaking. They have at the very least the same charges as mutual fund investments, plus mortality expenses. It's an insurance product that does a real nice job of eating up your capital.
2007-11-09 08:11:46 · answer #1 · answered by Peter D 7 · 0⤊ 0⤋
No. An annuity has high fees. The reason to use an annuity is to grow tax deferred until retirement. A 401k rolled over into a noncontributary IRA saves the tax deferred status and allows you to access the money if you should have an unexpected expense. There are several reasons you can take money out without penalty ie. buying first house but generally if you withdraw it you would pay tax and penalty. Try talking to a Primerica Representitive listed in the yellow pages. There is no charge for consultation.
2007-11-09 05:32:33 · answer #2 · answered by Anonymous · 1⤊ 0⤋
No
2007-11-09 05:20:39 · answer #3 · answered by scottsmylie 5 · 0⤊ 0⤋
No.
2007-11-09 08:51:39 · answer #4 · answered by Steve R 6 · 0⤊ 0⤋