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• Recognizing the Different Annuities

  By Scott Burns Q. I would like to know the difference between a variable annuity and a life annuity. A few years ago I invested $100,000 in a tax-deferred variable annuity. Later, I came to know there is a surrender charge for 7 years. Is a life annuity... Posted Aug 20 2008, 03:00 PM by admin with | with 1 comment(s) Filed under: Q&A (from print), Variable Annuity Watch

• Immediate Annuities Can Be a Useful Tool

  By Scott Burns Q. I wonder if single-premium immediate annuities (SPIAs) are for me. I am 75. My wife is 73. We have no debt, $850,000 in IRAs (mostly in the American Fund family) and $150,000 in a ROTH, again with American. We also have $150,000 in CDs... Posted May 14 2008, 03:00 PM by admin with | with 6 comment(s) Filed under: Q&A (from print), Variable Annuity Watch

• It's Important to Know Your Tax Bracket

  Q. We have three variable annuities that have matured. We have been advised to consolidate (total of $325,000) to one variable annuity. First, how can we get out of these annuities with minimum tax consequence? If we have to start a new annuity, should... Posted May 02 2007, 06:00 PM by scottb with | with 7 comment(s) Filed under: Q&A (from print), Variable Annuity Watch

• Don't Grieve Over Not Maxing-Out Plan Contributions

  Q. I am a 49-year-old engineer working at a large consulting firm. Our company has a high percentage of highly compensated employees and has limited pre tax contributions to 9 percent of gross income. In my case, this is $4,000 short of the allowable... Posted Apr 11 2007, 06:00 PM by scottb with | with 1 comment(s) Filed under: Financial Planning, Q&A (from print), Variable Annuity Watch

• A Tough Decision about a Variable Annuity

  Q. We have an annuity with John Hancock. In the nearly seven years we have had it, we have received no dividends from it. It is divided into 47 percent T. Rowe Price Equity Income, 12 percent T. Rowe Price Blue Chip Growth, and two other funds. We contributed... Posted Mar 07 2007, 06:00 PM by scottb with | with 4 comment(s) Filed under: Q&A (from print), Variable Annuity Watch

• Annuities: Some Are Useful, Some Not.

  Q. In a recent column you said that "one of the best ways to deal with uncertainty is to turn a portion of your portfolio into a life annuity." But in the next Q&A you said, as you often do, to run fast from annuities. Why the advice to buy in the first... Posted Jan 17 2007, 06:00 PM by scottb with | with 8 comment(s) Filed under: Burns at Large, Q&A (from print), Variable Annuity Watch

• Take More From Your Nest Egg As You Age

  Q: You have often cautioned against withdrawing more than 5 percent a year from retirement funds. Would you modify this rule of thumb for someone who retires later, such as age 75 or 80? In the case of required minimum distributions from IRAs, a person... Posted Dec 13 2006, 06:00 PM by scottb with | with 8 comment(s) Filed under: Q&A (from print), Retirement, Variable Annuity Watch

• You Know You Are Rich When...

  Q. Your recent series on financial planning was interesting, but I still don't know the answer in my own case: "How much is enough?" I'm always trying to find the answer. What are your thoughts on this? ---B.S., by email from 940 A. My all-time favorite... Posted Jun 01 2006, 10:53 AM by scottb with | with no comments Filed under: Financial Planning, Q&A (from print), Variable Annuity Watch

• Worry, yes, But Don‘t Overdo It

  Q. A recent article suggests that incoming Federal Reserve Chairman Ben Bernanke faces quite a challenge: "a housing-bubble-triggered consumer recession and deflation, exacerbated by foreign flight from the dollar and bonds." How should that affect my... Posted Feb 02 2006, 01:58 PM by scottb with | with no comments Filed under: Home Ownership & Mortgages, Q&A (from print), Variable Annuity Watch

• Not To Worry, There Are Alternatives to Employer Plans

  Q. I am a health care worker who is about to take a job with a small non-profit hospital. They offer a variable annuity through VALIC. I am concerned about taking this job because I have heard such negative reports about variable annuities, especially... Posted Aug 28 2003, 11:43 AM by scottb with | with no comments Filed under: Q&A (from print), Retirement, Variable Annuity Watch

• Shop and Think Before Buying An Immediate Annuity

  Q. I am an 85-year old widow. I recently sold my house and am moving into an independent living facility, which will cost $2,000 per month. From the sale of my house, money market funds, value of equities, life insurance proceeds and cash, my total worth... Posted May 22 2003, 02:01 PM by scottb with | with no comments Filed under: I Bonds & Tips, Q&A (from print), Variable Annuity Watch

• The 1035 Exchange Escape Route

  Q. Each time you go on a tear about variable annuities, those of us who have them feel like idiots. The question for us is can we do anything at this point to fix the situation? Can you roll an annuity over into something better or are you stuck? ---L... Posted Apr 25 2002, 09:54 AM by scottb with | with no comments Filed under: Home Ownership & Mortgages, Q&A (from print), Variable Annuity Watch

• No, This Variable Annuity Won‘t Do

  Q. My wife and I have $500,000 in fixed annuities earning about 5 percent. Recently a broker made a proposal to us to make a tax-free exchange into a variable annuity with MFS Regatta Annuity program. The benefit of this program is a 5 percent extra credit... Posted Dec 21 2001, 11:39 AM by scottb with | with no comments Filed under: Home Ownership & Mortgages, Q&A (from print), Variable Annuity Watch

• When You Don’t Have Money, Wait Until You Do

  Q. My son is shopping for his first home in Santa Maria, California. He can, with our help, put down a 10 percent down payment if he takes money ($10,000) from his 9 year-old IRA. And he either takes a second mortgage or an equity loan from his credit... Posted Apr 05 2001, 09:47 AM by scottb with | with no comments Filed under: Home Ownership & Mortgages, Q&A (from print), Variable Annuity Watch

• When To Use… And NOT use, Variable Annuities

  Q. I have $100k in Smith Barney B Share Mutual Funds in my IRA. I have owned these for over 4 years. My broker is encouraging me to sell these and purchase Putnam or Scandia annuity arrangements which require 5 to 7 year commitments. I fail to see the... Posted Dec 26 1996, 07:20 AM by scottb with | with no comments Filed under: Q&A (from print), Variable Annuity Watch