Wednesday, December 28, 2005
Annuity can't be rolled over to 401(k)
Q: Seven years ago I inherited $50,000 from my granddad. I wanted to save this money for retirement, and a financial planner persuaded me to buy a retirement variable annuity.
I've made some money, but several financial books I've read have convinced me that the annuity was probably not the best investment for my inheritance.
I recently received a call from the planner who sold me the annuity. She says it has matured and that we should meet to arrange a tax-free exchange to a better retirement annuity offered by the same insurance company...
N&O: Annuity can't be rolled over to 401(k)
I've made some money, but several financial books I've read have convinced me that the annuity was probably not the best investment for my inheritance.
I recently received a call from the planner who sold me the annuity. She says it has matured and that we should meet to arrange a tax-free exchange to a better retirement annuity offered by the same insurance company...
N&O: Annuity can't be rolled over to 401(k)
Permalink posted by markw @ 12:49 PM 
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