<<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.>>[See my posts on the Insurance Section regarding annuities. You are in the accumulating state not the distribution stage of your life. Consult with your tax adviser and consider the possibilities of a Roth IRA.]LIBCWilliam D. Brownlie, CLU, ChFC, CIP, LIAThis email advice is designed to provide accurate information in regard to the subject matter covered. It is performed with the understanding that William D. Brownlie is not engaged in rendering legal, accounting or other professional service including actively selling life, disability, long term health care insurance, and investment advice. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
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