It wasn’t a good idea, it was a great idea-—-for her! Each annuity will have its own gotchas. But in general there is a period of time when you pay a large fee to withdraw money, then there might be an ability to withdraw say 10% a year penalty free. You might be able to transfer it to a cheaper annuity, this is a 1035 exchange. You will need to read the contract for the details of your particular contract. Bogleheads arent fans of VA due to their fees, so getting out of it eventually might be better than keeping it.
Read the wiki on va here
https://www.bogleheads.org/wiki/Variable_annuity
I think this is the one you have, so next year surrender charges should be gone. IANAL/CPA
https://www.jackson.com/pdf/jmv16680.pdf
Check out this thread on va inside ira.
viewtopic.php?t=38087
Read the wiki on va here
https://www.bogleheads.org/wiki/Variable_annuity
I think this is the one you have, so next year surrender charges should be gone. IANAL/CPA
https://www.jackson.com/pdf/jmv16680.pdf
Check out this thread on va inside ira.
viewtopic.php?t=38087
Statistics: Posted by mhalley — Sun Mar 02, 2025 11:36 pm