Thanks Stan. I am not a consumer, but I’m a registered rep who is fresh out of college and joined the industry with no knowledge of how anything works. Your videos helped me gain a good foundational understand of fixed annuities and how they work. Thank you!
Thank you for the kind words! I'm glad to hear that my videos have been helpful in building your foundational understanding of Fixed Annuities. If you have any more questions or topics you'd like covered, feel free to let me know! Thanks for watching.
When I turned 72 this year, I sold about 2/3 of my IRA and bought a SPIA. It reduced my RMD, but there is no free lunch. The SPIA is taxed as ordinary income. But we love the guaranteed income. I still had an RMD this year, but I plan to buy a QLAC in 2023.
Stan.. I bought a fixed index annuity with an income rider, from you last year. I plan on turning on the income rider in two years, at age 68. Will the income from that rider satisfy the RMD's for the amount I invested into that annuity?
Hey there! Thanks for reaching out and for trusting me with your Fixed Index Annuity purchase. To give you the best advice about whether the Income Rider will satisfy your Required Minimum Distributions (RMDs), I recommend giving us a call to discuss your specific situation. Our team is happy to help you figure this out in more detail. www.stantheannuityman.com/book-a-call
Writing this in January 2025 I understand that the Secure Act 2.0 has a provision now that allows IRA Annuities (i.e. qualified deferred annuity) distributions to be able to be applied to the gross RMD each year. So if I have a $500k regular IRA and the 2025 RMD is $18,868 but I also have an Annuity with a $65,000 value at the end of 2024 (provided by an end-of-year statement or Form 5498 from the annuity company) then that RMD would be $2,453 -- BUT if I receive more than that (let’s say 2025 distributions of $6,453) then I can use the $4,000 amount distributed which is over the annuity RMD to reduce the Regular IRA RMD from $18,868 to $14,868. Is that how you understand this now? Thanks for any comments. Steve on 16 Jan 2025
@@StanTheAnnuityMan Just had a great call and want to say thanks. Looking at our portfolio & the next 20-30 years and will be getting back to you! Excellent!!
Thanks Stan. I am not a consumer, but I’m a registered rep who is fresh out of college and joined the industry with no knowledge of how anything works. Your videos helped me gain a good foundational understand of fixed annuities and how they work. Thank you!
Thank you for the kind words! I'm glad to hear that my videos have been helpful in building your foundational understanding of Fixed Annuities. If you have any more questions or topics you'd like covered, feel free to let me know! Thanks for watching.
When I turned 72 this year, I sold about 2/3 of my IRA and bought a SPIA. It reduced my RMD, but there is no free lunch. The SPIA is taxed as ordinary income. But we love the guaranteed income.
I still had an RMD this year, but I plan to buy a QLAC in 2023.
IRA’s are taxed as ordinary income!
If this video was recorded in 2022, then the IRS QLAC limit is $145,000 not $135,000.
You are correct! Today's limit is now $145K
Stan.. I bought a fixed index annuity with an income rider, from you last year. I plan on turning on the income rider in two years, at age 68. Will the income from that rider satisfy the RMD's for the amount I invested into that annuity?
Hey there! Thanks for reaching out and for trusting me with your Fixed Index Annuity purchase. To give you the best advice about whether the Income Rider will satisfy your Required Minimum Distributions (RMDs), I recommend giving us a call to discuss your specific situation. Our team is happy to help you figure this out in more detail.
www.stantheannuityman.com/book-a-call
So why do you not do variable annuities.
Great question, please feel free to book a call with me to discuss!
www.stantheannuityman.com/book-a-call/
Implied, but not explicitly stated... If the annuity is held outside of a qualified account? Are there RMDs then?
no
RMDs are for qualified money.
Writing this in January 2025 I understand that the Secure Act 2.0 has a provision now that allows IRA Annuities (i.e. qualified deferred annuity) distributions to be able to be applied to the gross RMD each year. So if I have a $500k regular IRA and the 2025 RMD is $18,868 but I also have an Annuity with a $65,000 value at the end of 2024 (provided by an end-of-year statement or Form 5498 from the annuity company) then that RMD would be $2,453 -- BUT if I receive more than that (let’s say 2025 distributions of $6,453) then I can use the $4,000 amount distributed which is over the annuity RMD to reduce the Regular IRA RMD from $18,868 to $14,868. Is that how you understand this now? Thanks for any comments. Steve on 16 Jan 2025
Hi Steve! For me to give you an answer about your specific situation, please feel free to book a call with us!
www.stantheannuityman.com/book-a-call/
@@StanTheAnnuityMan Thanks very much! I have set an apt for a call next week! Looking forward to it! Steve Friday 17 January 2025
@@StanTheAnnuityMan Just had a great call and want to say thanks. Looking at our portfolio & the next 20-30 years and will be getting back to you! Excellent!!
Thanks for the info.
You’re welcome! Thanks for watching.