If you’re wondering whether you can put an annuity inside a Roth IRA, I’ll tell you the short answer right now – yes. But there’s more to it than that. In today’s episode, I’ll dig deep into how Roth IRAs work and my opinion on how they work best. Let’s talk about what you should consider and focus on when you’re making your decision.
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Stan The Annuity Man
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Key Moments in this Episode
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00:38 What’s a Roth IRA?
01:07 Types of Roth IRA
02:44 Two questions
03:33 My opinion
04:44 Traditional IRA vs Roth situation
05:24 What we did
06:51 Roth for growth
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When it comes to retirement planning, annuities have long been a popular choice. Now, with the introduction of the Roth IRA, annuities can be used inside this retirement account as well.
A Roth IRA is an individual retirement account that allows you to save money on a tax-deferred basis. This means that you can make contributions to the account with after-tax dollars and any growth within the account is tax-free. A Roth IRA also offers the benefit of tax-free withdrawals in retirement.
An annuity is an insurance product that is designed to provide a steady stream of income in retirement. Annuities come in two varieties, fixed and variable. A fixed annuity provides a guaranteed rate of return and a fixed payment stream. A variable annuity, on the other hand, is linked to the performance of the financial markets and can provide a higher rate of return but with more risk.
When you combine a Roth IRA with an annuity, you can get the best of both worlds. You can enjoy the tax-free growth of the Roth IRA while also taking advantage of the income stream provided by the annuity. This can be especially beneficial for those who are looking for a steady stream of income in retirement.
However, it is important to note that annuities can be expensive, so it is important to make sure that you are getting a good deal before you invest. Additionally, annuities are not liquid investments, so you should make sure that you are comfortable with the terms of the annuity before you invest.
Overall, annuities can be a great way to supplement your retirement income. Combining a Roth IRA with an annuity can be a great way to maximize your retirement savings and ensure a steady stream of income in retirement. Be sure to do your research before investing in an annuity and make sure that it is the right choice for you.
How about today? It makes more sense today. Correct?
I agree 100% Roth should be used for the growth and also they should be used last. And immediate annuities are definitely better in traditional in most cases
I want a tax free income to supplement my retirement. I am almost 50s and just purchased a Roth IRA growth income annuity since I want tax frre income from the rest of my life. The insurance companies are offering extremely high income payouts today in 2022.
Stan.. Im 45 and I want an annuity to start paying me a lifetime guarantee monthly stream of income at 65. I want to continue to add to this product for 20 years to max out my monthly stream of income at 65.. is there a product like this?
so a major diff. with a IRA Roth Annuity and a IRA Roth is that the IRA Roth Annuity is principle protected?
Thanks for the response. I'll have my client call or email you. She has old paper work. She is in a bad health situation & needs your PRO-FESS. HELP. She doesn't know if she or his kids can collect anything. Been about 10 YRS. since he died. Thanks again. GOD BLESS
"Proportion Allocation" — great question. Or, "how much of a portfolio should be in fixed Income annuities? I need to come up with a good answer for that for my situation. I'll follow the link.