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Greetings, Setsail, and welcome. You wrote:

<<I am considering early retirement at age 55. I understand I can use my 401k to buy an annuity and then draw an annual or monthly amount.
I would appreciated any input on annuities, how they work and the tax impact. Thanks >>

For the Foolish take on annuities, see post number 11725 on this board at That will give you an idea of what you may expect from an annuity product. As a young retiree, it may not be the right choice for you. For most Fools, it isn't a highly regarded product either as an investment or as a continuing source of income. The reasons are outlined in the post I cited previously.

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