Kick the Tax Can Forever With MYGAs: Shootin' It Straight With Stan
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Kick the Tax Can Forever With MYGAs: Shootin' It Straight With Stan
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In this episode, The Annuity Man discussed:
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Understanding MYGAs as CD alternatives
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Using tax deferral to improve long-term growth
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Extending deferral through strategic rollovers
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Evaluating liquidity and fit
Key Takeaways:
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A Multi-Year Guarantee Annuity functions like a CD with a fixed rate and a defined term. It offers principal protection, no market exposure, and predictable growth. Terms typically range from one to ten years, depending on the carrier.
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Unlike CDs in non-qualified accounts, MYGA interest is not taxed annually. Taxes are deferred until withdrawals are taken. This allows earnings to compound uninterrupted over time.
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At the end of a MYGA term, funds can be withdrawn or rolled into a new MYGA. A 1035 exchange allows this rollover without triggering taxes. This process can be repeated to defer taxes indefinitely.
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MYGAs often allow limited annual withdrawals, with gains taxed first. They appeal to those seeking stability, tax efficiency, and legacy growth.
"Multi-year guarantee annuity is the annuity version of a CD—fixed rate, no moving parts, no market attachment." — Stan The Annuity Man
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: Stan@TheAnnuityMan.com
Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
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