401K maxed out? Annuities offer you an investment that can grow without the impact of taxes until withdrawals are made, they can be a good alternative to consider when other tax-deferred investments such as 401k plans and IRAs are maxed-out.
Say you’re putting the legally allowed limit into your 401(k) and you make a full contribution to your IRA every year, too. You also have a regular investment account with tax-efficient holdings, perhaps in municipal bonds or low-turnover exchange-traded funds. That’s the account you can tap when you really need to, prior to drawing on your tax-deferred investments. If you have all of that, but you’re still really flush and have more money to sock away, annuities might be a good choice.
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