Greetings, Sassygal2, and welcome. You wrote:<<I am sixty years old and I have all my money in annuities. I knew nothing about annuities except they were tax free. I couldn't even get my broker to tellme how much money he was getting. After reading your annuities:whats to like, I don't know how to reinvest, or am I too late. >>You don't tell us if these annuities are in a tax-sheltered vehicle like a 403b plan/IRA or just in a plain ole vanilla tax-deferred annuity you bought yourself with after-tax dollars. If they're in a plan or an IRA, then you could surrender them and transfer the net proceeds to an IRA of your choice without income tax impacts. That way you may defer taxes until you take withdrawals from the IRA. If they're regular annuities, then you could also surrender them. When you do, though, you will have to pay income taxes on any gain over what you paid for those annuities. The net proceeds could then be invested in a taxable account of your choice. They are not eligible for transfer to an IRA.As to how to reinvest, that's a personal decision we all have to make based on our investment knowledge and willingness to take risk. No one here will tell you what to do because we believe you must make those choices yourself. However, there's a wealth of material available to help you do that. assume you're new to both Fooldom and to investing. That's great on both counts! You have wandered into a forum that believes you, as an individual, can do far better for yourself than most professional money managers. Provided, that is, you take some time to learn a few basic investment concepts and do some self-examination to see where you fit on the risk tolerance scale. Therefore, why not take some time now -- not later -- to be sure about what you want to do. Start first by reading The 13 Steps to Investing Foolishly, which you can access from the main, opening screen to The Motley Fool. They will suggest some important things you should consider. Then I suggest you toddle over to your local library, discount bookstore, or even here in the Fool Mart, and pick up some easily read, easily understood, inexpensive texts that will thoroughly explain how to invest in stocks using some simple systems that will take but an hour per year of your time (if you're slow) yet produce returns that put the majority of professional money managers to shame. I suggest and commend the following to you: "Beating the Dow" by O'Higgins; "The Dividend Investor" by Petty and Knowles; "The Motley Fool Investment Guide" and "You Have More Than You Think" by the Gardner brothers; "One Up on Wall Street" by Lynch; and "What Works on Wall Street" by O'Shaughnessey. All are well worth their low cost and the small investment in time it takes to read them. Get them and read them. You'll be glad you did.While you're doing all that, also take some time to explore the various nooks and crannies of Fooldom to see what others are doing and what they're discussing. I also recommend you read my 13 Steps to Foolish Retirement Planning and my Foolish Retirement Plan Primer. Both may be found at http://www.fool.com/Retirement/Retirement.htm , and they will help give you some insight as to what you can do. In the process of all that reading, you'll gain a wealth of knowledge and information that will serve to clarify how you want to approach this very personal issue. Don't be afraid to ask a question anywhere in Fooldom. Folks around here are great about answering questions and clearing up misunderstandings.Regards..Pixy
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