What is a Non-Qualified Annuity? (Taxes & Rules Explained)
Retire For Less With The Annuity Expert · Shawn Plummer
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Show Notes
If you have maxed out your standard retirement accounts, or you recently sold a property or business, you might be looking for a safe place to grow your cash tax-deferred. In this video, Shawn Plummer from The Annuity Expert explains exactly what a Non-Qualified Annuity is and how it differs from a traditional IRA or 401(k).
Shawn breaks down the specific IRS rules for after-tax annuities, including how the LIFO (Last In, First Out) method taxes your withdrawals, and how the "Exclusion Ratio" works if you choose to annuitize. You will also learn the pros and cons of these contracts, including how to navigate the 10% IRS early withdrawal penalty (and the 72-Q exception) if you need your money before age 59 ½.
📖 Read our full guide on Non-Qualified Annuities (Taxes, Liquidity & Payouts) here:
https://www.annuityexpertadvice.com/types-of-annuities/non-qualified-annuity/
📞 Have questions about funding an annuity with after-tax money? Call us at: 770-755-1565