Are you wondering when you can actually pull cash out of your annuity? Whether you need immediate income or want to defer your payouts for decades, it is critical to understand the IRS tax codes and your contract's specific withdrawal rules so you don't get hit with massive penalties!

In this video, Shawn Plummer from The Annuity Expert breaks down the three primary ways to take money out of an annuity (annuitization, penalty-free withdrawals, and lifetime income riders). Shawn explains the strict IRS Age 59 ½ rule, and reveals the specific exceptions—like the 72(t) and 72(q) rules—that allow early retirees to access their money without paying a 10% early withdrawal penalty.

You will also learn a brilliant loophole strategy for wealthy early retirees: combining a life-only SPIA with a Term Life Insurance policy to skirt early withdraw ...