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Buckeye,
M
I just came across your post and my wife is in EXACTLY the same situation as your client.
After spending the last 12 years believing she was in a Roth IRA, as she was told by her broker, we now realize that she is actually in this Allianz Masterdex 10 annuity within a Roth IRA.
Did you have success in extricating your client from this terrible product?
If so, please share your results.
Thank you in advance!
Hi I am a newer agent and one of my clients wants to know if they can convert their masterdex 10 annuity to a roth ira in a different company? I cant find information on it. Thanks for helping.
I have seen way to many people in average tax brackets now, who will be in the same or lower tax brackets in retirement make the mistake to convert traditional IRA money to Roth.
I'm not sure I'd be making that assumption:
Those types of clients are in the 0% tax bracket as seniors & could pull 20-25k per year from traditional IRA accounts that are wiped away by standard deductions.
But if they put that money into life insurance (assuming they qualify) - they could have chronic illness riders and pass on that higher death benefit income-tax free to beneficiaries.