I haven't found a similar situation to ours in the FAQ. We have $50,000 in an account making only 6%: it is a 403b tax deferred fixed annuity. We have already transferred as much that is allowed without any tax consequence to another account, into a S&P 500 in fact. We do not fit any of the exclusions for tax-free or reduced tax early withdrawals. I estimate that in 2022, when we retire, that it will be worth only $188,000. I am thinking that it would be worth it to cash this account, take the tax hit and reinvest the remaining $36,000 (estimate taking into account our personal and itemized deductions) in a ROTH IRA. If this averages at least 13.3% it would yield $661,000 in 2022. The only issue for us is our portfolio doesn't have any bonds to balance it out, every thing else is various stocks including an FF portfolio. Even though this is a fixed annuity it is yielding similarily to a bond fund, correct? Should we cash it in and reinvest in a ROTH IRA as per above?