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The 10-Year Rule: How the SECURE Act Changed Your Inherited IRA 401k 403b TSPSummaryIn this 1:01:27 Annuities Explained video, Jeffrey Scott McLeod, LUTC, walks through the topic in plain English. If you've been searching for clear, honest guidance on how to truly secure and guarantee your retirement income in these uncertain times and you're wondering who you can really trust. As a matter of fact, you can see on your screen, it's an IRA 401k analysis. That means from whoever has your IRA or 401k right. What we're going to do is when your loan is due in 20 years, what the whatever the interest rate is at that year, I'm going to apply it to your loan. If he took out the entire RMD requirement that year, the 26,500 from his IRA, the government's going to come back and say, "Hey, you still have about $13,250 in RMDs due on your 401ks.". [clears throat] That means you can take your money out of your 401k and transfer it directly to your IRA Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideAny money your annuity earns is tax deferred. That means you generally won’t pay income tax on earnings until you take them out. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. When you start income, annuity payout options can include payments for life, for a period certain, or combinations described in the contract. The 2022 guide lists payout options and questions to ask before you buy. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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