No. of Recommendations: 1
PosFCF, Can you help me understand?
My banker had me roll over some IRAs into a variable annuity back in 1995. The amount was $17,000. I turned the annuity into a Roth in 1998 at a $25,000 value and paid the taxes on it over 4 years.
Of course everything crashed and it is now worth something like $20,000 and climbing, but its highest anniversary level is $42,000 and that is the amount my heirs get if I die.
My accountant has told me to leave it there until it approaches a value of $42,000.
Isn't this one time when leaving a variable annunity alone is the best case senario, seeing as I have already made so many mistakes?
I am 62 and semi retired.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.