Anonymous
Post 01/27/2014 15:43     Subject: Take an annuity, take out the $ and pay taxes or
I hope you mean 400k not $400
Anonymous
Post 01/27/2014 15:37     Subject: Take an annuity, take out the $ and pay taxes or
Anonymous wrote:My aunt has two retirement accounts. She made seriously good returns this year! I am sure it is down because a lot of funds are down. She is still using aggressive accounts to make up for the huge losses when the market crashed. One is worth $400 and the other $275. I have heard we are not getting those returns this year that we did last year. She is 70. She just retired. She does fine off social security and her pension. She doesn't have to take withdraws until 71 1/2 years old. What should she do with the $. She rents! 1700! Rent control for seniors. Wants to stay in DC!


I would look at taking the money out once her income has decreased - that way she will most likely be in a different tax bracket, a lower one!
Anonymous
Post 01/27/2014 08:24     Subject: Take an annuity, take out the $ and pay taxes or
Anonymous wrote:If she needs advice she should see a fee-only financial advisor who can take a comprehensive look at all her finances. This is not a question for an anonymous forum. The stakes are too high for your aunt.


I couldn't agree more with PP. Having said that, I would research/consider an annuity...but you need to see a pro as those are complicated "investments" to understand.
Anonymous
Post 01/26/2014 16:54     Subject: Take an annuity, take out the $ and pay taxes or
I would look and ask on bogleheads.com - you will likely get better advice than on here.
Anonymous
Post 01/26/2014 16:33     Subject: Take an annuity, take out the $ and pay taxes or
If she needs advice she should see a fee-only financial advisor who can take a comprehensive look at all her finances. This is not a question for an anonymous forum. The stakes are too high for your aunt.
Anonymous
Post 01/26/2014 15:14     Subject: Take an annuity, take out the $ and pay taxes or
My aunt has two retirement accounts. She made seriously good returns this year! I am sure it is down because a lot of funds are down. She is still using aggressive accounts to make up for the huge losses when the market crashed. One is worth $400 and the other $275. I have heard we are not getting those returns this year that we did last year. She is 70. She just retired. She does fine off social security and her pension. She doesn't have to take withdraws until 71 1/2 years old. What should she do with the $. She rents! 1700! Rent control for seniors. Wants to stay in DC!