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23 December, 18:33

If Robert wishes to cash out his annuity at age 70 after having it for over 40 years, what should he know about prior to doing it?

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  1. 23 December, 18:50
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    An annuity is equal streams of cashflows that can compliment payments from social security and pension plans for retirees. Robert should know that taking out all the annuity savings as a lump-sum will make the deferred earnings taxable. A deferred annuity gives an investor options of to either take out all the long term savings in one lump-sum, make withdrawals whenever they need or transfer the amount to a different account.
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