What Is the 10% IRS Penalty on Annuities?

Are you under the age of 59 ½ and need to pull cash out of your retirement savings? Before you touch your account, you need to understand the massive 10% early withdrawal penalty the IRS will slap on your money!

In this video, Shawn Plummer from The Annuity Expert breaks down exactly how the 10% IRS penalty applies to annuities. He explains the critical difference between Qualified annuities (where the penalty hits your entire withdrawal) and Non-Qualified annuities (where the penalty only hits your gains based on "LIFO" accounting).

But there is good news! Shawn candidly reveals the completely legal IRS loopholes you can use to pull your money out early without taking a 10% haircut. He explains how to set up a 72(t) or 72(q) fixed distribution, how the "Rule of 55" might save you, and how buying a SPIA (Single Premium Immediate Annuity) completely bypasses the penalty! Plus, he shares a brilliant strategy to pair that SPIA with a cheap term life insurance policy so the insurance company doesn't keep your money if you pass away early.

📊 Run your own math! See exactly how much the IRS will take from your withdrawal using our free calculator right here:

https://www.annuityexpertadvice.com/calculator/retirement/taxes-penalties/

📞 Want a free, unbiased review of your early withdrawal options? Call us for free at: 770-755-1565