I wrote an annuity app a few years ago for a family member but it was declined because they couldn't show a source of income. He was relocating to another state to live with his daughter and son in law and was planning on finding a job after he relocated. He wanted to take his retirement money from the company he had worked for and transfer it to an annuity but was declined because he had no source of income.
I have another situation similar. My nephew left his place of employment to go to barber school and has set enough money aside to live on till he graduates. He wants to convert his retirement into an annuity. Am I looking at another decline ? What are my options if any ?
I have another situation similar. My nephew left his place of employment to go to barber school and has set enough money aside to live on till he graduates. He wants to convert his retirement into an annuity. Am I looking at another decline ? What are my options if any ?