Are you thinking about cashing out your annuity to buy a house? While it is absolutely possible, there are several IRS rules and surrender charges you need to navigate so you don't lose a massive chunk of your savings to taxes!

In this video, Shawn Plummer from The Annuity Expert answers whether you can use an annuity to buy a home. Shawn breaks down the IRS Age 59 ½ rule and explains how to use a 72(t) distribution to access your money early without paying the 10% penalty. He also reveals how to avoid massive surrender charges if you need to cash out a current contract.

Finally, Shawn shares a brilliant, outside-the-box strategy for homebuyers sitting on a large pile of cash. Instead of buying a house outright, learn how to use a "Life Only" SPIA (Single Premium Immediate Annuity) to completely fund your monthly mortgage payments. On ...