First of all, we do not sell annuities \u2013 or indeed any financial products. We are not insurance agents nor do we represent any insurers. We work for our clients \u2013 some of whom have purchased annuity contracts they later wish they hadn\u2019t.<\/p>\n
Here is how we may be able to help you:<\/strong><\/span><\/p>\n The Tax Position of Your Annuity Contract<\/strong><\/em> Do You Own an Annuity in an IRA?<\/strong><\/em> The Cost of the Annuity Contract<\/strong><\/em> The Cost of the Underlying Investment Options<\/strong><\/em> Surrender Charges That May Exist<\/strong><\/em> Possible Early Withdrawal Penalties<\/strong><\/em> What\u2019s in it for us?<\/strong><\/span><\/p>\n That\u2019s simple \u2013 maybe something, maybe nothing.<\/p>\n Until fairly recently, when asked to manage the underlying investments in an annuity, we respectfully declined. There were two primary reasons:<\/p>\n However, in the last few years a small number of insurers have introduced very low-cost annuity contracts that feature hundreds of investment vehicles that we consider appropriate for our clients. Because these insurers have also created a platform to work with fee-only investment advisors, we are now able to integrate your annuity investment options with your other investment and retirement accounts.<\/p>\n If you\u2019d prefer to exchange an existing high-cost annuity for a very low-cost one, but are not interested in having an independent, fee-only investment advisory firm oversee the assets for you, we would be pleased to show you how to accomplish the contract exchange yourself. Our fee for doing so would be zero. We consider this goodwill.<\/p>\n Let us know if you think we can help.<\/p>\n","protected":false},"excerpt":{"rendered":" First of all, we do not sell annuities \u2013 or indeed any financial products. We are not insurance agents nor do we represent any insurers. We work for our clients \u2013 some of whom have purchased annuity contracts they later wish they hadn\u2019t. Here is how we may be able to help you: The Tax […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mi_skip_tracking":false,"footnotes":""},"categories":[3,5],"tags":[20,21,44,45,63,64,87,107,117,139,140],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/posts\/1701"}],"collection":[{"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/comments?post=1701"}],"version-history":[{"count":0,"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/posts\/1701\/revisions"}],"wp:attachment":[{"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/media?parent=1701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/categories?post=1701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/springwaterwealth.com\/wp-json\/wp\/v2\/tags?post=1701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n– We\u2019ll explain the rules to you, in plain English.<\/p>\n
\n– It\u2019s legal, but it makes little or no sense. We\u2019ll explain why.<\/p>\n
\n– Many owners of annuities have no idea what they\u2019re actually paying.<\/p>\n
\n– We\u2019ll help you understand this layer of expenses.<\/p>\n
\n– We\u2019ll show you how to understand them, and weigh the pros and cons.
\n
\nOther Charges and Fees<\/strong><\/em>
\n– Annuity contracts can have several layers of fees and expenses.<\/p>\n
\n– The tax code imposes a 10% penalty on certain withdrawals. We\u2019ll explain it to you.<\/p>\n\n