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I have an annuity currently valued at 100k. Better to leave it? Take it out an begin to manage portfolio like a fool? Can the entire amount be transferred to a tax-deferred account (ira)? or will I have to pay a tax/penalty for early withdrawal? Help!?

If you don't have a large surrender charge in the above annuity and you would like to transfer it to a Variable Annuity where you can choose the investment
portfolio, the IRS allows you to transfer the cash value of the annuity via 1035 Exchange. I like the Vanguard Variable Annuity. Vanguards annuity is no load, and no surrender charge. There is a $25.00 annual fee if the balance is below $25,000. Their expenses are very low too, compared to other Variable Annuities.

This Variable Annuity has an Equity Index Portfolio.

Here is the Web Site.

http://majestic4.vanguard.com/FP/DA/0.2.vvap_name_report/071670228817120145

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