Best institute for Solo 401k
Would like to roll a small annuity I have from a short lived stint in a union into a solo 401k. I own a self operated carpentry company with no employees. I would like to access those funds for RE investments. Looking for guidance on who to roll it into and who offers great terms and support. TIA!
Most Popular Reply
What I meant by surrendering is taking your funds out of the annuity to be used for some other investment. An annuity is a contract and depending on the type and company you used it has a standard term. Each year during the annuity contract period if you decide to surrender the annuity you stand to give up and lose a certain amount. This is a surrender charge. Once you exceed the term you are “out of surrender” and can take the money and do as you please, annuitize, or continue accumulating based on the type of annuity you have (fixed, fixed index, variable). You just need to verify if you are out of surrender or not and then determine if staying in the annuity is what you think is best for you based on your risk tolerance, investment objective, and time horizon. If you want to stay with the annuity then you would need other sources of investable capital to self-direct. This could come through contributions or perhaps rollovers as applicable.