Can You Buy an Annuity After Taking Your RMD?
Retire For Less With The Annuity Expert by Shawn Plummer
Episode notes
Are you forced to take Required Minimum Distributions (RMDs) from your retirement accounts, even though you don't actually need the money to live on? Instead of just paying taxes and letting the cash sit in the bank, what if you could strategically use that money to protect your entire retirement?
In this video, Shawn Plummer from The Annuity Expert answers whether you can buy an annuity after taking an RMD. Shawn explains how most Fixed Index and Variable annuities are extremely "RMD-friendly," meaning they will automatically adjust your payouts to fulfill your IRS requirements without any penalties!
But what if you absolutely don't need the RMD cash? Shawn shares two brilliant strategies. First, you can use your RMD to fund a Long-Term Care Annuity, which can double or triple your money if you ever need to pay for a nursing home or Β ...Β