Comments on: Banks vs Insurance Companies

By: Wealthy Affiliate Review

Wealthy Affiliate Review — Thu, 26 Nov 2009 06:03:48 +0000

Hi there. Very interesting post. If it is OK with you, I would like to link back to your article. I think that my readers would enjoy it.

By: Evolution Of Wealth

Evolution Of Wealth — Thu, 19 Nov 2009 21:30:21 +0000

Well that could and might become another post of it’s own. This would really depend on specific situations but it is most likely that I would not recommend an annuity to someone under 35. What reason would they have for the annuity?
You bring up the tax benefits which is that annuities are tax-deferred. We must however, keep in mind that they are LIFO so that the gains come out first and are taxed at ordinary income tax. Then you have to watch out for the tax implications on death. There is no step-up in cost basis and with a non-spouse beneficiary all the gains become taxable to the beneficiary as ordinary income.

By: Financial Samurai

Financial Samurai — Thu, 19 Nov 2009 13:40:29 +0000

Would you recommend someone under 35 to buy an annuity? Please discuss more about the tax benefits of an annuity.

Thnx!

By: uberVU - social comments

uberVU - social comments — Wed, 18 Nov 2009 23:18:13 +0000

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