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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Fixed Annuity Help Date: 11/4/2000 7:21 AM
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Greetings, Porcelina23, and welcome. You asked:

<<I inherited a fixed annuity that really needs to be moved out of its current situation. I have been advised to do a 1035 exchange to a variable annuity to avoid taking the tax penalty. I am under the age of 30 and would like to know if this is really the best option for the investment.>>

If you wish to avoid income taxes and the early withdrawal penalty on any gains in that annuity, then a 1035 exchange is the only option for you.

Regards..Pixy
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