Three yes answers.First of all, I appreciate all the valuable MYGA information shared in this thread. I am currently 54 and have a couple questions (currently considering a Gainbridge MYGA).
1. If you use Trad/Roth IRA funds to purchase Trad/Roth IRA MYGA, at the end of the Trad/Roth IRA MYGA term, can you “transfer” or “rollover” the funds back to non-Annuity IRA? (From my research, I am assuming “Yes”, but wanted to confirm.
2. If I utilize the 10% free withdraw from the Trad/Roth IRA MYGA, can I “transfer” or “rollover” the 10% withdraw and still keep it within my Trad IRA or Roth IRA. (Making it non-taxable for Trad IRA)
3. If #2 is an option (withdrawing from Trod/Roth IRA MYGA, but keeping it within Trad/Roth IRA), do I still have to wait until age 59.5 to utilize the 10% withdraw without penalty?
Thank you.
I’d say you’re pretty well grounded on these annuities.
Just watch the “once per year” rule on non trustee-to-trustee transfers on IRAs.
Post back with more questions.
Statistics: Posted by Stinky — Tue Aug 06, 2024 2:34 pm — Replies 2677 — Views 356043