Hello all,
I have 100k in a rollover IRA and I would like to purchase a "joint" (wife and myself) immediate annuity for the same amount; however, I don't know if it can be done. Specifically, I'm concerned about all the documentation that states the annuity "might" satisfy all the IRS requirements for RMDs beginning at 70 1/2.
Here are my questions:
First, the 100k is pre-tax dollars that are all in my name exclusively, so if I am allowed to add my wife as a joint annuitant, how will that affect my ability to meet the RMD requirements for myself and my wife?
It all sounds too complicated for me; however, if anyone can make sense of my situation and can offer some clarifications, I would greatly appreciate the advice!
Thanks in advance for your help,
Best regards,
gus
I have 100k in a rollover IRA and I would like to purchase a "joint" (wife and myself) immediate annuity for the same amount; however, I don't know if it can be done. Specifically, I'm concerned about all the documentation that states the annuity "might" satisfy all the IRS requirements for RMDs beginning at 70 1/2.
Here are my questions:
First, the 100k is pre-tax dollars that are all in my name exclusively, so if I am allowed to add my wife as a joint annuitant, how will that affect my ability to meet the RMD requirements for myself and my wife?
It all sounds too complicated for me; however, if anyone can make sense of my situation and can offer some clarifications, I would greatly appreciate the advice!
Thanks in advance for your help,
Best regards,
gus