Can I use the money from my 401(k) or IRA to purchase an annuity?

Yes. You can roll your IRA or 401(k) into an Annuity.

Tax-protected retirement savings accounts, such as IRAs or 401(k) plans, can be directly rolled over into an annuity tax-free as long as you follow the IRS's requirements. Annuities funded with an IRA or 401(k) rollover are considered qualified plans

Using part of your 401(k) or IRA funds to buy an annuity can provide income in retirement.

Rolling over some of your retirement savings into an annuity which will eventually provide guaranteed, secure lifetime income can be the answer to a lot of questions and concerns you have about supporting yourself after you’ve retired.

One popular option is to use a portion of the funds to purchase an annuity, which will provide you a stream of income like a pension.

The income can be structured to last the rest of your lifetime, or, if you are married, for two lifetimes. And if you don’t want lifetime income, you can create an income that lasts for a set period of time — 15 years, for example.

At Jennifer Lang Financial Services, we can help you build a plan that is right for you.

Click here to get your Free annuity quote today.