Reported 5 months ago
When leaving a job, individuals with a 401(k) should consider rolling over their tax-advantaged plan. Rolling into a new 401(k) or IRA are common choices, but annuities also offer benefits. An annuity assures a steady income regardless of market changes and can provide payments for life. To roll over a 401(k) into an annuity, it is advised to consult with a financial advisor, compare different annuity companies, communicate with chosen companies, and direct the 401(k) administrator accordingly to avoid penalties and taxes. Annuities can provide a reliable income stream, flexible withdrawal options, and longevity protection compared to traditional retirement plans.
Source: YAHOO