Don -

You said "My wife has a variable annuity that her "financial advisor" put her in. She used money that was passed down to her when her dad died. I have since read the article Annuities: What's to Like? Needless to say, we are not happy. My question is, would it be benificial to take it out and roll it over into a regular IRA? We are both in our 30's"

I ask - "Why did the advisor suggest the annuity?" Was it proposed as a long-term tax-deferred investment? Just because you read an article with a low opinion of annuities doesn't mean they are inherently bad - they serve a very useful purpose. The question is "Does it serve YOUR purpose?"

With regard to closing out the annuity & re-investing the funds... be aware of taxes + penalties due when a person under age 59½ withdraw from an annuity. Read the annuity contract thoroughly and ask questions of the advisor (i.e. please remind me why the purchase of this annuity was appropriate, etc.).

Good luck & best wishes, PP