Client Inherited Non-q Annuity from Mom-NEED HELP!

[Norwayguy]

JNJ, PG, KMB, MC, PFE, CVX, COP, MO, INTC, LLY, etc...

I'm sorry my sarcasm did not come through my post. Nothing against dividend paying stocks at all. I always hate the well if you would have done this type of comment after the fact. There is no guarantee the client having put money in the dividend paying stocks would have kept them there for the same length of time as the markets rose or fell they may have pulled in and out of the market. The simple fact is the son has an annuity worth well over a 1/2 million dollars not much to complain about.

 

[Mr_Ed]

I'm sorry my sarcasm did not come through my post. Nothing against dividend paying stocks at all. I always hate the well if you would have done this type of comment after the fact. There is no guarantee the client having put money in the dividend paying stocks would have kept them there for the same length of time as the markets rose or fell they may have pulled in and out of the market. The simple fact is the son has an annuity worth well over a 1/2 million dollars not much to complain about.

that's the whole point of owning dividend paying stocks... you don't get in and out of the market... the lower the price of the stock the higher the net yield.

 

[Norwayguy]

that's the whole point of owning dividend paying stocks... you don't get in and out of the market... the lower the price of the stock the higher the net yield.

I totally understand that. I also know the mentality of many clients and the more important thing is listening to their Neighbor who is "killing it" in the market and want to do what they are doing.

My point is in retrospect we can pick many different options that would have returned greater return. The fact is she put her money in an annuity and it was a variable annuity for better or worse and her cost basis if I remember correctly was about 50% of the account value. The good news is she saved/invested and amassed about 3/4 of a million dollars that's a good thing heads and shoulders above the average American these days that save little to nothing.

 

[CALTCAgent]

I realize this post is 2 years old, I have only looked at this concept in the past. If I understand this correctly, it takes having a carrier that will administer based on the stretch concept.

Therefore,

What carriers allow 1035 for stretch of NQ annuity inherited by non spouse ?

Which ones allow transfer of IRA for stretch by non spouse beneficiary ?

PM direct if you prefer