This newborn needs money!
If you are looking to sell your annuity, here a few questions to consider:
Are you considering selling your annuity because of a short-term financial obligation or is this decision based on a long-term strategy?
Are you over the age of 59 1/2? If you aren’t, there is an additional 10% federal tax penalty.
Speaking of taxes, what is your tax rate? The sale of your annuity is treated as ordinary income, meaning the entire amount you receive is taxable for both federal and state tax purposes.
Have your needs changed since this annuity was purchased? Lower life expectancy, medical issues, educational expenses, etc.
Are you considering selling your annuity under pressure from family, friends or creditors?
Have you investigated other ways to get you where you want to go?
Do you have additional retirement strategies in place to cover for the lost income of this annuity?
Try looking at your retirement through this lens:
Figure out how much you and your spouse need to survive. If you think you can live off of $20,000 per year go with that. Then use this Inflation Calculator to figure how much you will need to survive per year in the year you retire. I used 3% inflation , 20 years and $20,000 per year. This gave me a value of $36,122.22 or about $3000 per month. That is how much I will need to survive. I assumed my home is paid off, education expenses are taken care of, I worked part time and we were very frugal in our living. If we live 20 years, I will need to have around $720,000 in cash to survive.
If you currently have your retirement well funded, we can purchase the redundant annuity from you and give you cash today.
Fill out the form at the top of the page.
Speak to one of our agents.
Return the proper documentation.
Cash your check.
Spend your money. It’s that easy!
We make the process of selling your annuity quick, painless and FAST!