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Subject:  Re: Tax Deferred Annuity right for me? Date:  4/26/2013  3:18 PM
Author:  TMFPMarti Number:  118484 of 127643

I'm 53 in a high income bracket and getting killed in taxes.

No, you're paying more than you'd like--who isn't?--but you still seem to be able to take nourishment. I comment partly because my SA side wanted out, but primarily to point out that people who are doing well financially display a tendency toward hysterical hyperbole when it comes to taxes. They too often forget the upside of paying a boatload of taxes. You're making good money! Celebrate that now and again.

Maxing out my 401k and IRA.

With today's tax law I'm not nuts about nondeductible traditional IRA contributions unless they can be used for the "back door" way around income limits on Roth contributions. If you include tax-efficient mutual funds or long-term buy & hold stocks that don't throw off dividends in your portfolio, you'd do just about as well with them in a taxable account plus they'd retain their lower tax rate when you did sell down the road. Something to think about.

A financial planner from Fidelity suggested i dump money into a Tax Deferred vaiiable Annuity to decrease my exposure.

Your exposure to what, your hard earned money? I suggest you engage the services of a financial planner who doesn't have anything to sell you except knowledge.

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