Jim Lorenzen, CFP®, AIF® Annuity income may feel secure; but, is it really? Once you realize that money is worth only what it can purchase,
What most people don’t realize: There are some important details about how and when these delayed credits are actually added to your benefit.
Congratulations—you’ve built up a healthy retirement nest egg, maybe even a couple million bucks in a traditional IRA. Cue the applause! No worry about tax traps now! But as you reach retirement and start thinking about how to spend it (or pass it on), Uncle Sam is waiting with a few surprise moves that could mess with your plans. These are the tax traps.
