Can Annuity Income Support Grandchildren?

Do you want to use your retirement income to help support your grandchildren? Before you transfer any money, you must structure the contract correctly to avoid triggering massive IRS penalties! 🛑💸

In this video, Shawn Plummer from The Annuity Expert explains the absolute safest way to route your annuity income to a minor. The golden rule? You must set the annuity up in your name! Because your grandchildren are under the age of 59 ½, setting the annuity up in their name would trigger an automatic 10% early withdrawal penalty from the IRS. Instead, Shawn explains how to make yourself the owner and annuitant, turn on a lifetime income rider, and route those monthly paychecks to a bank account managed by the child's custodian.

Shawn also addresses a brutally honest reality: what if you do not trust your own children to manage your grandchildren's money? If you fear the parents will misuse the funds, you absolutely need to consult an estate attorney to legally lock down how that money is distributed!

👉 Run your own math and see exactly how much guaranteed income you can generate right here:

https://www.annuityexpertadvice.com/annuity-calculator-2/

📞 Need a free, objective review to help set up a generational wealth plan? Call us at: 770-755-1565

⏱️ Video Chapters:

0:00 - Intro: Can annuity income support grandchildren?

0:08 - The golden rule: Set the annuity up in YOUR name!

0:24 - Avoiding the IRS 10% early withdrawal penalty

1:11 - How to safely route lifetime income to a minor

2:07 - What if you don't trust the parents with the money?

2:54 - How to get free quotes from The Annuity Expert