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Investing/Strategies / Retirement Investing
|Subject: Re: Tax-deferred annuity||Date: 10/20/1998 1:01 PM|
|Author: TMFPixy||Number: 6129 of 76075|
Lori, you asked:
I've been wondering myself about tax deferred annuities. I'm self-employed but realized that the money I was putting into my SEP-IRA wasn't going to be enough to retire on--unless I developed the desire to live in a cardboard box.
I took a part-time sales job so that I could have a regular IRA in addition to the sep, and I started a tax-deferred, variable annuity.
Here's my question--at some point down the road, if I wanted to simplify my paperwork by consolodating everything, can the annuity money be transferred into an IRA???
Unless the annuity is already inside an IRA, then the answer is no. See my response to 2gynkv for details.
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