No. of Recommendations: 0
"While I find Rayvt's response most appropriate, prior to cashing out during the surrender period you might want to see if you want to take that penalty". Pixy's response tothe above has prompted me to get in the mix. I have a pretty good-sized variable annuity with no withdrawal fee and it is all IRA. I think it is a good annuity but I am totally sizzled since I found out how high my agent's fees are. (Since I became Foolish). As an IRA, this annuity can be transferred without tax consequences. I've been trying to compare my problem with that of HairBear2 and wonder if I'm missing a problem I'm not aware of. My plan is to roll the annuity over (through a discount broker) into recommended longterm Dow stocks. Am I making a big mistake? BG
Print the post  

Announcements

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!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
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.
Advertisement