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Options for variable annuity?

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  • Avatar Dr. J 
    Participant
    Status: Physician
    Posts: 7
    Joined: 03/19/2017

    Working on separation process from Ameriprise advisor to Vanguard DIY. One remaining account is wife’s 403b from prior employer.  Ameriprise has been managing this in a variable annuity (RVRSRC RAVA 5 ADV VAR). Current balance is $4228 with surrender value of $3941. Wife now stays home, unlikely to work again in near future.

    What are our options for dealing with this account in lowest fee, most tax efficient manner?

     

    Thanks!

     

     

    Discipline = Freedom.

    #179479 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 6940
    Joined: 01/09/2016

    I’d probably just cash it out.

    For others who may be interested, Jefferson Monument Advisor is a flat-fee annuity brokerage with excellent rates and service, but too high for such a small amount as in this post. We use it for clients who come to us with much larger annuities to get out of high fee accounts until they get past age 59.5.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~ 270-247-0555
    https://fox-cpas.com/for-doctors-only/

    #179532 Reply

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