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Selling Annuities is An Option If Retirement Isn’t for YouYou couldn’t wait to retire – all the traveling, the volunteer work, spending time with grandkids. Even better, you successfully saved for retirement and feel very comfortable with your nest egg. Turning part of that nest egg into an immediate annuity meant that you will always have income, every month. Lately, you have begun to realize that retirement isn’t for you. You miss the hustle and bustle of work, and begin to consider rejoining the workforce. You still are receiving monthly income payments from your immediate annuity, but feel that you don’t need them anymore because you are returning to a steady paycheck. In addition, a lump sum of cash could help you complete that remodel you have been promising your spouse. What can you do? Selling annuities is a popular practice. In exchange for a number of your monthly payments, you receive a lump sum that you can use however you see fit – to invest, to pay for a medical procedure, or even to pay for a relative’s college tuition. Selling annuities can help you achieve these goals. When considering selling all or part of an annuity, first you have to make sure that the annuity was bought with nonqualified funds. You have already paid taxes on nonqualified money; annuities bought with tax qualified money like 401k or traditional IRA funds are generally not eligible to be sold. Also, you usually cannot sell annuities that don’t have a period certain option and are “life only” annuities. Selling annuities also requires keeping a close eye on your tax situation. Depending on the details of your sale, you may be responsible for all or part of the taxes on a lump sum distribution. AnnuityAdvantage.com can discuss with you your options for selling an annuity. Whatever your reason for selling your annuity, you will need guidance and assistance. Pick up the phone and call the Annuity Specialists at 1-800-239-0356. They will be able to explain the pros and cons of selling annuities. And the steps that you will need to take to sell your annuity.
¹ First year yield/rate reflects fixed rate plus premium bonus or interest rate enhancement. Interest is based on current rates and subject to change without notice.Send email to
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