In Patrick Kelly's book, Stress-Free Retirement, Chapter 14 "What about the fees?" gives a great description how surrender charges in a FIA are so much less than Assets under management (AUM) fees.
Wondering if you can withdraw everything out of a variable annuity that is tied to 403b? And just pay the taxes and 10 percent penalty? I’m being led to believe that the only option is financial hardship option because we’re under 59 age and have to provide proof of hardship to IRS. Not trying to avoid paying all the taxes and fees. It seems like this money is held hostage very tightly.
Ian - there are some plans that do not allow any withdrawals before age 59 1/2 except for hardship, especially if you are still working for whoever the 403(b) is through. It sounds like that is the case with your plan. Thanks for watching.
At the end of the a surrender charge of a FIA, do we get the whole amount back if we're younger than 59 1/2? Or is that where we would roll it over into a different account/purchase a new annuity contract?
You would probably want to roll it over into a different annuity. Since the interest/gains in annuity contracts is tax-deferred there is a 10% tax penalty if you take it out.
Rocky - Contact the benefits department of your union/employer. They should have the information to access your pension/retirement plan. I hope this helps.
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
Love all your videos. I have fixed index annuities and your information is very important. Thanks Stan!👍
Glad to help. Thanks for watching
Love THESE videos 👍
In Patrick Kelly's book, Stress-Free Retirement, Chapter 14 "What about the fees?" gives a great description how surrender charges in a FIA are so much less than Assets under management (AUM) fees.
And surrender charges only come into play if you take your money out early, unlike AUM fees. Thanks for watching Lee!
Nicely explained 👍
How often can you withdrawal 10%?
Great question, please feel free to book a call with us to discuss!
www.stantheannuityman.com/book-a-call/
Wondering if you can withdraw everything out of a variable annuity that is tied to 403b? And just pay the taxes and 10 percent penalty? I’m being led to believe that the only option is financial hardship option because we’re under 59 age and have to provide proof of hardship to IRS. Not trying to avoid paying all the taxes and fees. It seems like this money is held hostage very tightly.
Ian - there are some plans that do not allow any withdrawals before age 59 1/2 except for hardship, especially if you are still working for whoever the 403(b) is through. It sounds like that is the case with your plan. Thanks for watching.
I have lots to learn
You've found the right place. Keep watching my videos .
At the end of the a surrender charge of a FIA, do we get the whole amount back if we're younger than 59 1/2? Or is that where we would roll it over into a different account/purchase a new annuity contract?
You would probably want to roll it over into a different annuity. Since the interest/gains in annuity contracts is tax-deferred there is a 10% tax penalty if you take it out.
I'm in the union 25 yrs now I can't work how can I get my money
Rocky - Contact the benefits department of your union/employer. They should have the information to access your pension/retirement plan. I hope this helps.
How can I get all the money out? I inherited them when I call the agent they want return my calls help
Please book a call with us. www.stantheannuityman.com/book-a-call/
Lol love the wife joke
My step dad trying to use his annuity to buy a house is this possible?
Depending on the annuity your step-dad may be able to cash out his annuity to purchase a house.
We’re are you I need an appointment please
You can schedule an appointment online. Here is a link - www.stantheannuityman.com/book-a-call/
For your wife ! Love this videos. 👍