Reported about 8 hours ago
A reader's 74-year-old father, with $800,000 in his 401(k), is urged by his brother to transfer it to an annuity for guaranteed income and reduced market risk. While a direct rollover to an annuity is possible, and can provide a stable monthly income, it has downsides like loss of flexibility and control over the funds. The decision should consider factors like health, risk tolerance, and existing sources of income, and consulting a financial advisor is recommended.
Source: YAHOO