Qualified Versus Non-Qualified Annuities

Описание: 00:26 📚 Explanation of qualified vs. non-qualified annuities begins.
00:54 💡 Non-qualified money is taxed money already in your possession.
01:22 🏦 Qualified money is untaxed and in retirement accounts like IRAs and 401(k)s.
01:52 ⚖️ Withdrawals from qualified accounts are taxed as normal income.
02:18 ⏳ Required Minimum Distributions (RMDs) force withdrawals at retirement age.
02:32 🔄 Qualified annuities can be funded by rollovers from other qualified accounts.
03:24 🔍 Some companies offer Roth conversions for tax-free future benefits.
04:18 🔄 Non-qualified annuities use taxed money and can grow or provide income.
04:59 💸 Non-qualified growth annuities are subject to LIFO (Last In, First Out) tax rules.
06:32 ✂️ Non-qualified income annuities use an exclusion ratio to determine taxable amounts.
07:12 💼 Qualified annuities have no extra tax benefits since all withdrawals are taxable.
08:33 🛡️ Non-qualified annuities allow tax deferral on growth, a key tax advantage.
09:44 🚀 1035 Exchanges allow continued tax deferral in new annuities.
10:25 🏥 Growth in non-qualified annuities can be moved to long-term care policies tax-free.
12:15 🌟 Asset-based long-term care policies offer flexibility and tax advantages.