Using an Annuity to Avoid the 10% IRA Early Withdrawal Penalty (72(t) Explained)
Every IRA and 401(k) has an invisible fence around it until you turn 59½. Climb over early, and the IRS charges you a 10% toll on top of the regular tax you already owe. Most people just wait it out — five years, ten years, however long it takes — because that’s what everyone assumes […]
Find Out How Much You Need to Invest in a SPIA for “$X” Dollars of Income Per Month
“How much do I need to invest to get $2,000 a month? $5,000? $10,000?” Whatever the number in your head is, it’s one of the most common questions asked about guaranteed income — and it’s a genuinely hard one to answer honestly. Not because the math is complicated, but because your real answer depends on […]
Medically Underwritten SPIAs: Health Conditions, Higher Income
When Bad News Becomes a Bigger Check If you’ve been told you have a serious health condition, you’ve probably heard some version of “this is going to cost you.” A costlier insurance premium. A denied application. A door that just closed. There’s one place where that isn’t true — a lifetime income contract called a […]
Better Permanent Life Insurance Rates With Health Issues
You applied for permanent life insurance, and the offer came back rated. Maybe your agent used a letter — Table D. Maybe a number — Table 4. Either way, the message was the same: because of your health, you’re going to pay more than someone in perfect shape. Most people accept that as the final […]
SPIA vs. DIA: Which Timing Fits Your Retirement?
If you’re comparing a Single Premium Immediate Annuity (SPIA) and a Deferred Income Annuity (DIA), you’re probably asking two things: which one pays more, and which one is safer. Here’s the short version — they’re not really competing products. A DIA is built exactly like a SPIA. The only thing that changes is when the […]