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Subject:  Re: Advise on taking annuity payments Date:  11/30/2018  2:32 PM
Author:  pauleckler Number:  46940 of 46949

I think these payments will be taxable income. So keep an eye on your tax rate and plan for income net of taxes.

If you are working consider deferring payments until after you retire and have lower income. Perhaps defer Social Security for a while to take advantage of lower tax rate.

Many annuities can be set to pay a minimum number of payments. Then if you are run over by a truck, your heirs collect. Its probably worth having.

If you have IRA, 401k, etc, at age 70-1/2 Required Minimum Distributions kick in. They start at modest numbers but get large as you age. This will probably be your highest income tax rate during retirement.

Plan it out and see what works best for you.
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