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Retiree Puts $300,000 of IRA Into Annuity for Guaranteed Income

Original: A 68-Year-Old Who Puts $300,000 of a $500,000 IRA Into an Annuity Locks In a $2,000 Monthly Check for Life and Shrinks the RMD on What's Left to About $9,600 at 73. Every Dollar of Both Is Still Taxable

A retirement planning example making the rounds describes a 68-year-old who moves $300,000 of a $500,000 IRA into an annuity, locking in roughly $2,000 a month for life. The move also cuts required minimum distributions on the remaining $200,000 to about $9,600 at age 73. Commenters stress that both the annuity payments and the RMDs remain fully taxable as ordinary income.

Why now: Annuity-versus-IRA trade-offs and RMD planning are perennial hot topics among retirees facing tax rules.

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• A 68-Year-Old Who Puts $300,000 of a $500,000 IRA Into an Annuity Locks In a $2,000 Monthly Check for Life and Shrinks the RMD on What's Left to About $9,600 at 73. Every Dollar of Both Is Still Taxable · 24/7 Wall St.

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