What are annuities, and why is it necessary to calculate their present value?
Q. What are annuities, and why is it necessary to calculate their present value? Why is the calculation of the present value of any future amount important? Why is the present value of any future amount greater when the discount rate is lower? Explain your
Asked by kabaka - Sat Oct 11 07:38:33 2008 - - 2 Answers - 1 Comments
A. Annuity is an amount of money given to you at fixed interval for an infinite amount of time (assuming you lived that long). Well, the discount rate is closely linked to two factors: normal interest rate and inflation rate. So an amount in the future, say $100, a year from now with an inflation rate of 10%, when discounted to the present, would just be about $90. (e.g 100 bucks in the future can only buy an equivalent 90 bucks of goods now) So you can imagine if the discount rate is 5%, the present value would be about $95. The calculation of present value is important because it provides for a basis of comparison of money at different times. Say $1000 in 20 years time is definitely not the same as $1000 now. So by discounting the amount… [cont.]
Answered by bert32 - Sat Oct 11 07:59:12 2008
Q. What are annuities, and why is it necessary to calculate their present value? Why is the calculation of the present value of any future amount important? Why is the present value of any future amount greater when the discount rate is lower? Explain your
Asked by kabaka - Sat Oct 11 07:38:33 2008 - - 2 Answers - 1 Comments
A. Annuity is an amount of money given to you at fixed interval for an infinite amount of time (assuming you lived that long). Well, the discount rate is closely linked to two factors: normal interest rate and inflation rate. So an amount in the future, say $100, a year from now with an inflation rate of 10%, when discounted to the present, would just be about $90. (e.g 100 bucks in the future can only buy an equivalent 90 bucks of goods now) So you can imagine if the discount rate is 5%, the present value would be about $95. The calculation of present value is important because it provides for a basis of comparison of money at different times. Say $1000 in 20 years time is definitely not the same as $1000 now. So by discounting the amount… [cont.]
Answered by bert32 - Sat Oct 11 07:59:12 2008
How are mathematics used in mortgages and annuities?
Q. How is the application of mathematics used in calculating ones own mortgages and annuities? Are there any related charts, formulae, graphs, or images?
Asked by Anne - Sat Jun 6 08:52:33 2009 - - 2 Answers - 0 Comments
A. Let me guess... You are in the York Math Waiver course. This is a tough question eh! I know the answer, but I will not tell you... Muhahahahaha!
Answered by Rick - Sun Jun 7 17:29:34 2009
Q. How is the application of mathematics used in calculating ones own mortgages and annuities? Are there any related charts, formulae, graphs, or images?
Asked by Anne - Sat Jun 6 08:52:33 2009 - - 2 Answers - 0 Comments
A. Let me guess... You are in the York Math Waiver course. This is a tough question eh! I know the answer, but I will not tell you... Muhahahahaha!
Answered by Rick - Sun Jun 7 17:29:34 2009
Where can I find the best information on annuities so I can make an informed purchase and where should I buy?
Q. My husband and I just fired our financial advisor. Over the last 8 years this advisor who charged us fees had lost us approximately $1.2 million in the value of our account. We were in a diversified portfolio of about 8 mutual funds plus 2 bond funds (medium & long term) and some adjustments have been made along the way. We were told and were presented evidence back in the mid 90's that there had never been a rolling 10 year period where stock prices had negative returns. Except now. We have now decided to put our money where everyone else goes for protection, insurance companies! Many insurance companies have been around for over 100 years. Yes, some do fail but compared to everything else out there they are very safe. We want to put… [cont.]
Asked by Rich Kathryn - Tue Sep 5 16:56:01 2006 - - 8 Answers - 0 Comments
A. To the other persons who answered before me Note 1: She said 8 years not 4 years! Note 2: Only Variable annuities have High Fees. Most Fixed, Immediate and Index annuities do NOT charge annual fees. The People who hold your Investment account tend to be Biased against Annuities because they want to Sell you a Mutual Fund, Stock, Bond or Hedge Fund instead! Plus, when they have annuities available, the selection is very limited. If you contact One Large insurance company, that insurance company will try and sell you only on their annuity which may or may not offer you the best interest rate out there! The best place to go would be an independent professional or a service that provides access to the majority of annuities available on… [cont.]
Answered by Joe the Expert - Tue Sep 5 17:30:48 2006
Q. My husband and I just fired our financial advisor. Over the last 8 years this advisor who charged us fees had lost us approximately $1.2 million in the value of our account. We were in a diversified portfolio of about 8 mutual funds plus 2 bond funds (medium & long term) and some adjustments have been made along the way. We were told and were presented evidence back in the mid 90's that there had never been a rolling 10 year period where stock prices had negative returns. Except now. We have now decided to put our money where everyone else goes for protection, insurance companies! Many insurance companies have been around for over 100 years. Yes, some do fail but compared to everything else out there they are very safe. We want to put… [cont.]
Asked by Rich Kathryn - Tue Sep 5 16:56:01 2006 - - 8 Answers - 0 Comments
A. To the other persons who answered before me Note 1: She said 8 years not 4 years! Note 2: Only Variable annuities have High Fees. Most Fixed, Immediate and Index annuities do NOT charge annual fees. The People who hold your Investment account tend to be Biased against Annuities because they want to Sell you a Mutual Fund, Stock, Bond or Hedge Fund instead! Plus, when they have annuities available, the selection is very limited. If you contact One Large insurance company, that insurance company will try and sell you only on their annuity which may or may not offer you the best interest rate out there! The best place to go would be an independent professional or a service that provides access to the majority of annuities available on… [cont.]
Answered by Joe the Expert - Tue Sep 5 17:30:48 2006
Which of these annuities would have the greatest present value?
Q. 10-yr annuities, assuming they all have the same interest rate. Which of these 10-yr annuities would have the highest present value? One that pays $500 at the beginning of every 6 months, one that pays $500 at the end of each 6 months, one that pays $1000 at the beginning of each year, or one that pays $1000 at the end of each year?
Asked by Kelly - Thu Jun 18 14:44:15 2009 - - 2 Answers - 0 Comments
A. The one that pays 1000 at the beginning of each year. The simple way to think about it: 1. It's better to have $1000 now rather than $1000 later. Why? Because you can invest your $1000, get interest and then after one year, you have $1000 plus interest, whereas in the other scenario you only have $1000. 2. Then you can use the same argument to show why $1000 at the beginning is better than $500 twice. It's because after six months, you will have earned interest on $1000 vs earning interest on only $500.
Answered by Mister Sarcastic - Thu Jun 18 14:49:11 2009
Q. 10-yr annuities, assuming they all have the same interest rate. Which of these 10-yr annuities would have the highest present value? One that pays $500 at the beginning of every 6 months, one that pays $500 at the end of each 6 months, one that pays $1000 at the beginning of each year, or one that pays $1000 at the end of each year?
Asked by Kelly - Thu Jun 18 14:44:15 2009 - - 2 Answers - 0 Comments
A. The one that pays 1000 at the beginning of each year. The simple way to think about it: 1. It's better to have $1000 now rather than $1000 later. Why? Because you can invest your $1000, get interest and then after one year, you have $1000 plus interest, whereas in the other scenario you only have $1000. 2. Then you can use the same argument to show why $1000 at the beginning is better than $500 twice. It's because after six months, you will have earned interest on $1000 vs earning interest on only $500.
Answered by Mister Sarcastic - Thu Jun 18 14:49:11 2009
how to know when to uss applicastion one of present annuities and application two?
Q. i know how to distinguish between future annuities and present annuities but i just dont know when i should use the first application of present annuities or the second one...help greatly appreciated
Asked by viVianA_vivoOO - Fri May 28 22:23:53 2010 - - 1 Answers - 0 Comments
Q. i know how to distinguish between future annuities and present annuities but i just dont know when i should use the first application of present annuities or the second one...help greatly appreciated
Asked by viVianA_vivoOO - Fri May 28 22:23:53 2010 - - 1 Answers - 0 Comments
You have the opportunity to invest in several annuities. Which of the 10 year annuities has the greatest value?
Q. Which of the following 10 years annuities has the greatest present value? Assume all the annuities have the same interest rate. A. an annuity that pays $500 at the end of every six months. B. an annuity that pays $500 at the beginning of every six months. C. an annuity that pays $1,000 at the end of each year. D. an annuity that pays $1,000 at the beginning of each year.
Asked by Sueleng - Sun May 30 23:20:44 2010 - - 1 Answers - 0 Comments
A. The correct answer is B. In you cannot explain why, you need to reread your textbook.
Answered by falsifiable - Sun May 30 23:26:08 2010
Q. Which of the following 10 years annuities has the greatest present value? Assume all the annuities have the same interest rate. A. an annuity that pays $500 at the end of every six months. B. an annuity that pays $500 at the beginning of every six months. C. an annuity that pays $1,000 at the end of each year. D. an annuity that pays $1,000 at the beginning of each year.
Asked by Sueleng - Sun May 30 23:20:44 2010 - - 1 Answers - 0 Comments
A. The correct answer is B. In you cannot explain why, you need to reread your textbook.
Answered by falsifiable - Sun May 30 23:26:08 2010
I need help with recognizing when to use either the PRESENT VALUE or FUTURE VALUE formula for annuities.?
Q. I know the P-Value and F-Value formulas for both annuities due and original annuities. I also know what values to plug into the given equation. However, I have a hard time being able to discern when I should use either one of the two future value or present value equations. Are there any tricks or tips that you finance experts might have for a finance student? Thanks!
Asked by kevster1020 - Mon Oct 1 17:24:19 2007 - - 1 Answers - 0 Comments
A. it's easy. Future value means to be received or given in the future. Present value means amount given out or taken now. Ask the question When? The more current amount is the PV. So, if you're given an amount with the caption $1,000 at the end of the month $4,000 three years from now. you know 1K is pv, 4k is fv. you use fv if u want to know the amount in the future and you use pv if u want to know the amount in the present or the current time. Try solving hundreds of problems to get a hang of it.
Answered by rookie - Wed Oct 3 03:11:02 2007
Q. I know the P-Value and F-Value formulas for both annuities due and original annuities. I also know what values to plug into the given equation. However, I have a hard time being able to discern when I should use either one of the two future value or present value equations. Are there any tricks or tips that you finance experts might have for a finance student? Thanks!
Asked by kevster1020 - Mon Oct 1 17:24:19 2007 - - 1 Answers - 0 Comments
A. it's easy. Future value means to be received or given in the future. Present value means amount given out or taken now. Ask the question When? The more current amount is the PV. So, if you're given an amount with the caption $1,000 at the end of the month $4,000 three years from now. you know 1K is pv, 4k is fv. you use fv if u want to know the amount in the future and you use pv if u want to know the amount in the present or the current time. Try solving hundreds of problems to get a hang of it.
Answered by rookie - Wed Oct 3 03:11:02 2007
How do you figure annuities with different interest periods and payment periods?
Q. Say you want to have : * $1,000,000 in 40 years (so FV=1,000,000). * Bank pays 8% APR with quarterly compounding.. * Payments are made at the end of the periods. How do you get this? Thanks! Edit: Payments are made the end of periods.
Asked by Cooper M - Fri Oct 16 09:07:30 2009 - - 1 Answers - 0 Comments
A. How long is each payment period? If it is 1 quarter, then the interest and payment period are actually the same. The effective quarterly interest rate is 8% / 4 = 2%. So, just plug i=.02 into the formula for the future value of an annuity-immediate. EDIT: You're running out of time. If you want to answer my questions, you can add it to your question by editing the details.
Answered by Math Wizard Level 23 - Fri Oct 16 10:08:08 2009
Q. Say you want to have : * $1,000,000 in 40 years (so FV=1,000,000). * Bank pays 8% APR with quarterly compounding.. * Payments are made at the end of the periods. How do you get this? Thanks! Edit: Payments are made the end of periods.
Asked by Cooper M - Fri Oct 16 09:07:30 2009 - - 1 Answers - 0 Comments
A. How long is each payment period? If it is 1 quarter, then the interest and payment period are actually the same. The effective quarterly interest rate is 8% / 4 = 2%. So, just plug i=.02 into the formula for the future value of an annuity-immediate. EDIT: You're running out of time. If you want to answer my questions, you can add it to your question by editing the details.
Answered by Math Wizard Level 23 - Fri Oct 16 10:08:08 2009
What expenses are involved in fixed and variable annuities? Are they less than with mutual funds?
Q. How does the insurance company make money from annuities?
Asked by bett - Wed May 3 10:20:02 2006 - - 5 Answers - 0 Comments
A. Expenses are generally higher in variable annuities than mutual funds but there are no front-end loads to deal with and annuities can offer things that mutual funds can't - like guarantees. Annuities may help you 1)Receive guaranteed retirement income payments for as long as you live, 2)Protect beneficiaries with a death benefit 3)Diversify your investments. 4)Grow assets on a tax-deferred basis and 5)Avoid outliving your assets. If you want to protect your beneficiaries, variable annuities generaly offer a choice of death benefits to protect assets for your beneficiaries should you die prior to annuitization. Also, a variable annuity s death benefit avoids the expense and delays of probate. If you're concerned about the volatility of… [cont.]
Answered by tnspro22 - Wed May 3 14:25:35 2006
Q. How does the insurance company make money from annuities?
Asked by bett - Wed May 3 10:20:02 2006 - - 5 Answers - 0 Comments
A. Expenses are generally higher in variable annuities than mutual funds but there are no front-end loads to deal with and annuities can offer things that mutual funds can't - like guarantees. Annuities may help you 1)Receive guaranteed retirement income payments for as long as you live, 2)Protect beneficiaries with a death benefit 3)Diversify your investments. 4)Grow assets on a tax-deferred basis and 5)Avoid outliving your assets. If you want to protect your beneficiaries, variable annuities generaly offer a choice of death benefits to protect assets for your beneficiaries should you die prior to annuitization. Also, a variable annuity s death benefit avoids the expense and delays of probate. If you're concerned about the volatility of… [cont.]
Answered by tnspro22 - Wed May 3 14:25:35 2006
How many percent of people do you suppose know about private annuities?
Q. It's been around for 50 years or more, but has recently been revived. And why was it not used for a long time? How do people usually learn about it? Through lawyers, realtors, or what? Does anyone want to answer my questions?
Asked by Ilooklikemyavatar..exactly - Sun Sep 3 19:32:30 2006 - - 5 Answers - 0 Comments
A. I knew since i was 12 years old..but probably only the educated and high earners knows of this.
Answered by kthor - Sun Sep 3 19:58:47 2006
Q. It's been around for 50 years or more, but has recently been revived. And why was it not used for a long time? How do people usually learn about it? Through lawyers, realtors, or what? Does anyone want to answer my questions?
Asked by Ilooklikemyavatar..exactly - Sun Sep 3 19:32:30 2006 - - 5 Answers - 0 Comments
A. I knew since i was 12 years old..but probably only the educated and high earners knows of this.
Answered by kthor - Sun Sep 3 19:58:47 2006
Do you need to get an insurance license (to sell annuities) for each state or is there reciprocity?
Q. I am changing careers and am considering getting into financial services and eventually become a CFP. It appears that to get most entry level jobs, I need the 6 & 7, 63 as well as a Life, Accident and Health license. Is this correct? Also, I have a good financial background (BS & MBA), but no retail investment experience, will this be a big problem?
Asked by mrlw18 - Wed Oct 31 15:54:50 2007 - - 1 Answers - 0 Comments
A. You'll need to get an insurance license in each state. You named all of the correct licenses (at least to get started). However, you'll want to get a variable life and Health. This allows you to sell variable annuities. You have nothing to worry about with your education. The only question is: Can you sell? It takes the average financial advisor 3 years to start to "make it" (i.e. $60k+). You'll have to really work your tail off. I have a buddy who has been a financial advisor for 6 months and he has already made $45,000 -- he's doing really well. So it is possible. My advice: stay away from investment firms that talk about "Multi-level marketing" or that allow you to do this job part time. I've been full-time for over 4 years… [cont.]
Answered by Draper - Wed Oct 31 17:21:15 2007
Q. I am changing careers and am considering getting into financial services and eventually become a CFP. It appears that to get most entry level jobs, I need the 6 & 7, 63 as well as a Life, Accident and Health license. Is this correct? Also, I have a good financial background (BS & MBA), but no retail investment experience, will this be a big problem?
Asked by mrlw18 - Wed Oct 31 15:54:50 2007 - - 1 Answers - 0 Comments
A. You'll need to get an insurance license in each state. You named all of the correct licenses (at least to get started). However, you'll want to get a variable life and Health. This allows you to sell variable annuities. You have nothing to worry about with your education. The only question is: Can you sell? It takes the average financial advisor 3 years to start to "make it" (i.e. $60k+). You'll have to really work your tail off. I have a buddy who has been a financial advisor for 6 months and he has already made $45,000 -- he's doing really well. So it is possible. My advice: stay away from investment firms that talk about "Multi-level marketing" or that allow you to do this job part time. I've been full-time for over 4 years… [cont.]
Answered by Draper - Wed Oct 31 17:21:15 2007
What would be the approximate federal and state taxes on 30,000.00 of fixed annuities if I file single?
Q. Need to be able to pay taxes next year.
Asked by hww22 - Sat Oct 25 21:06:10 2008 - - 1 Answers - 0 Comments
A. You didn't say what state you are in, so I'll give you the federal taxes due. Assuming that you file single, your tax bill for 2008 would be $2756 at the federal level.
Answered by Michael K - Mon Oct 27 16:16:47 2008
Q. Need to be able to pay taxes next year.
Asked by hww22 - Sat Oct 25 21:06:10 2008 - - 1 Answers - 0 Comments
A. You didn't say what state you are in, so I'll give you the federal taxes due. Assuming that you file single, your tax bill for 2008 would be $2756 at the federal level.
Answered by Michael K - Mon Oct 27 16:16:47 2008
How Good Are Fixed End Annuities With My Bank?
Q. It's a five year commitment for 4% and they say it's all non taxable. Is that a good deal? They want $10k.
Asked by Jack - Wed Jul 15 11:38:03 2009 - - 2 Answers - 0 Comments
A. How old are you? Are you maxed out on all your other tax deferred investment options (401k, 403b, IRA...)? What is the credit rating on your bank? Who is the insurance underwriter and how are they ranked? Short answer: insurance products are almost never a good investment option and banks (& insurance agents) are almost always the wrong place to seek investment advice. Insurance products should never be the 1st, 2nd, or 3rd option for those under the age of 60 and for those who have not maxed out their other retirement options. For $10k you can get several highly rated CD's paying in the 3%+ range...which should be very competitive with the 4% annuity once you take out the ridiculous commissions and insurance charges (the CD… [cont.]
Answered by MVD34 - Wed Jul 15 11:50:14 2009
Q. It's a five year commitment for 4% and they say it's all non taxable. Is that a good deal? They want $10k.
Asked by Jack - Wed Jul 15 11:38:03 2009 - - 2 Answers - 0 Comments
A. How old are you? Are you maxed out on all your other tax deferred investment options (401k, 403b, IRA...)? What is the credit rating on your bank? Who is the insurance underwriter and how are they ranked? Short answer: insurance products are almost never a good investment option and banks (& insurance agents) are almost always the wrong place to seek investment advice. Insurance products should never be the 1st, 2nd, or 3rd option for those under the age of 60 and for those who have not maxed out their other retirement options. For $10k you can get several highly rated CD's paying in the 3%+ range...which should be very competitive with the 4% annuity once you take out the ridiculous commissions and insurance charges (the CD… [cont.]
Answered by MVD34 - Wed Jul 15 11:50:14 2009
Can you sell annuities to private investors, or do they need a license?
Q. Lets say I know a private investor who wants to buy my annuity or structured settlement, do we need lawyers involved in this, or do you need some kind of license to deal in these kinds of things. Like do employees for a firm like JG wentworth need some kind of license for their dealings.
Asked by The Bulk - Fri Sep 25 15:45:22 2009 - - 2 Answers - 0 Comments
Q. Lets say I know a private investor who wants to buy my annuity or structured settlement, do we need lawyers involved in this, or do you need some kind of license to deal in these kinds of things. Like do employees for a firm like JG wentworth need some kind of license for their dealings.
Asked by The Bulk - Fri Sep 25 15:45:22 2009 - - 2 Answers - 0 Comments
Are there any annuities that take money from 22 year olds?
Q. I have inherited like 4 million from my grandmother and think maybe an annuity is the best way since it guarantees an income for life?
Asked by Ashwani - Sun Apr 20 07:30:24 2008 - - 3 Answers - 0 Comments
A. You need a financial planner (fee-only NOT commission) who also works with a tax attorney. By making the correct investments you can lessen the taxes you would have to pay on the income that the 4 million dollars makes. That 4 million should give you an income for the rest of your life, as well as your children's lives beyond your own life. Make sure you use a Certified Financial Planner and not a broker. As far as an annuity, there is a place for an annunity in the investments of some people, but I think that, at 22, you are probably too young to make a large investment in one. There are better things that you can do with your investment principle.
Answered by Jeanne R - Sun Apr 20 09:15:17 2008
Q. I have inherited like 4 million from my grandmother and think maybe an annuity is the best way since it guarantees an income for life?
Asked by Ashwani - Sun Apr 20 07:30:24 2008 - - 3 Answers - 0 Comments
A. You need a financial planner (fee-only NOT commission) who also works with a tax attorney. By making the correct investments you can lessen the taxes you would have to pay on the income that the 4 million dollars makes. That 4 million should give you an income for the rest of your life, as well as your children's lives beyond your own life. Make sure you use a Certified Financial Planner and not a broker. As far as an annuity, there is a place for an annunity in the investments of some people, but I think that, at 22, you are probably too young to make a large investment in one. There are better things that you can do with your investment principle.
Answered by Jeanne R - Sun Apr 20 09:15:17 2008
Please explain the difference between variable rate, immediate, fixed, and index annuities?
Q. These would be invested with IRA funds. I am 70 years old. Which type would be the best for me?
Asked by lee irish - Sat Jun 28 15:21:53 2008 - - 1 Answers - 0 Comments
A. I am not sure but I know you can go to AnnuityMD.com and find out many answers there. Hope that helps.
Answered by therese b - Sat Jun 28 19:58:23 2008
Q. These would be invested with IRA funds. I am 70 years old. Which type would be the best for me?
Asked by lee irish - Sat Jun 28 15:21:53 2008 - - 1 Answers - 0 Comments
A. I am not sure but I know you can go to AnnuityMD.com and find out many answers there. Hope that helps.
Answered by therese b - Sat Jun 28 19:58:23 2008
how many times do people take the life, health and variable annuities exam?
Q. Any tips, advice, techniques or information.
Asked by otellado - Sat Oct 3 04:49:10 2009 - - 1 Answers - 0 Comments
A. I must admit I've never heard of these exams but then again I'm only 14.
Answered by Curious - Sat Oct 3 04:54:54 2009
Q. Any tips, advice, techniques or information.
Asked by otellado - Sat Oct 3 04:49:10 2009 - - 1 Answers - 0 Comments
A. I must admit I've never heard of these exams but then again I'm only 14.
Answered by Curious - Sat Oct 3 04:54:54 2009
How do annuities work?
Q. And how will they impact your ability to get medicaid if you need to go into a nursing home?
Asked by browncat79 - Thu Jan 15 02:10:19 2009 - - 2 Answers - 1 Comments
A. The primary purpose of an annuity is to provide a guaranteed income stream that one cannot outlive. Once the account is "annuitized" (ready to begin paying out), an actuarial calculation is made based on the age (and sometimes the health) of the annuitant. That annuitant receives a fixed or variable monthly payout (depending on the type of annuity). This monthly payment can be designed to continue for the rest of the annuitant's life, then end; or it can be designed to pay out for a particular period, or a combination. For example, a "20-year certain" payout will pay monthly until the annuitant's death, or for 20 years, whichever is longer. The type of the payout will affect the amount. As for Medicaid; generally, prior to… [cont.]
Answered by rcdrury - Thu Jan 15 02:35:07 2009
Q. And how will they impact your ability to get medicaid if you need to go into a nursing home?
Asked by browncat79 - Thu Jan 15 02:10:19 2009 - - 2 Answers - 1 Comments
A. The primary purpose of an annuity is to provide a guaranteed income stream that one cannot outlive. Once the account is "annuitized" (ready to begin paying out), an actuarial calculation is made based on the age (and sometimes the health) of the annuitant. That annuitant receives a fixed or variable monthly payout (depending on the type of annuity). This monthly payment can be designed to continue for the rest of the annuitant's life, then end; or it can be designed to pay out for a particular period, or a combination. For example, a "20-year certain" payout will pay monthly until the annuitant's death, or for 20 years, whichever is longer. The type of the payout will affect the amount. As for Medicaid; generally, prior to… [cont.]
Answered by rcdrury - Thu Jan 15 02:35:07 2009
Do beneficiaries have to pay taxes on nonqualifed fixed annuities?
Q. Annuity established in NY with after-tax dollars by decedent.
Asked by Bklyn - Tue Feb 5 15:52:39 2008 - - 1 Answers - 0 Comments
A. Generally, the interest portion of the annuity is taxable to the beneficiaries - this is known as income in respect of a decedent, For example, let's say that the annuity was purchased for $1,000 and it is going to pay $500/month for 12 months, or a total of $6,000. Then every $500 payment is 1/6 return of investment (non-taxable) and 5/6 interest income (taxable).
Answered by sir_e3d - Tue Feb 5 16:38:17 2008
Q. Annuity established in NY with after-tax dollars by decedent.
Asked by Bklyn - Tue Feb 5 15:52:39 2008 - - 1 Answers - 0 Comments
A. Generally, the interest portion of the annuity is taxable to the beneficiaries - this is known as income in respect of a decedent, For example, let's say that the annuity was purchased for $1,000 and it is going to pay $500/month for 12 months, or a total of $6,000. Then every $500 payment is 1/6 return of investment (non-taxable) and 5/6 interest income (taxable).
Answered by sir_e3d - Tue Feb 5 16:38:17 2008
Obama wants to convert your retirement money into government annuities/bonds,etc - Do you trust them with it?
Q. Big Government blew Trillions of our Soc Sec savings faster than a terrorist running from a SUV. Should we repeat our mistake and convert our 401's/etc into gov annuities and put our trust in big gov once again - I know big gov is a little short on cash right now but come on.
Asked by Amnesty Vacations Spending - Sat May 8 14:04:17 2010 - - 2 Answers - 0 Comments
A. No! And I also don't trust them with my health care! 60% of Americans say BFD Obamacare will increase the deficit and 54% want it repealed!
Answered by IceT - Sat May 8 14:08:46 2010
Q. Big Government blew Trillions of our Soc Sec savings faster than a terrorist running from a SUV. Should we repeat our mistake and convert our 401's/etc into gov annuities and put our trust in big gov once again - I know big gov is a little short on cash right now but come on.
Asked by Amnesty Vacations Spending - Sat May 8 14:04:17 2010 - - 2 Answers - 0 Comments
A. No! And I also don't trust them with my health care! 60% of Americans say BFD Obamacare will increase the deficit and 54% want it repealed!
Answered by IceT - Sat May 8 14:08:46 2010
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