I got asked the other day what I had against annuities. Let me first explain that my issue has more to do with variable annuities over fixed annuities. Fixed annuities can serve a legitimate purpose in a retired individual’s portfolio. (There are options that may be better though). What I do want to address in this entry is:
1) the proper location of one’s investments
2) the tax consequences of investing in a variable annuity.
Too many tax professionals do not have a good sense of the investment side of an individual’s financial life and too many investment professionals do …Read More