Author Topic: Annuity Question  (Read 1213 times)


  • Bristles
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  • Age: 30
  • Location: East Bay
Annuity Question
« on: January 20, 2017, 11:50:15 AM »
Happy Friday,

I have a buddy that inherited some cash/holdings/I honestly have no idea what it was but he decided to have it set up as an annuity that he can't touch until he's an old fart he's at a specific age or else he is taxed/penalized. I wish I knew more details, but he just calls it an annuity and says he can't touch it. Beyond that, all I know is the value is somewhere between $100k and $300k.

So, my question is what can he do in order to access these funds early in order to put a down payment on a house, buy a vehicle, pay off debt, go on a shopping spree, travel the world, etc ?(He's not all that good with money, but with that amount he's not too far off from a nice head start to FI.)

I've glanced over the link below, but that doesn't seem to mention annuities.