Should I transfer my annuities

[G. Thomas]

I was sold annuities based on their GLI! (Sales guy's terminology for Guaranteed Lifetime Income).  This concept of converting my IRA's into Annuity IRA sounded like a good idea.  As a result of MMM I've taken a closer look into my savings and retirement accounts.  I converted two IRAs (one Roth and one Traditional) about a year ago.  Each account had/has $10,000.  I've called Vanguard to see if I could roll the accounts into my accounts there and I can with or without the annuity.  My question is should I and how much?  I ask how much because my mortality tables were locked in when I signed up and if I keep funds in the account I get to stay on the now older (cheaper?) tables.

Roth IRA annuity:
-$10k
-$30 annual fee
-1.5% ER
-5% early withdrawal, tapers to 0% after 9 years

Traditional IRA annuity:
-$10k
-$30 annual fee
-1.2 ER
-I paid 5% going into it

[MDM]

A recent thread on annuities: http://forum.mrmoneymustache.com/ask-a-mustachian/what%27s-an-annuity/.

Check that (with all the questions and embedded links) to see if it answers your questions.  If so, great.  If not, let us know.  To give you any more than the standard knee-jerk "get rid of the annuity!" response we'll need a few more details about yours.

[G. Thomas]

Thank you for connecting threads.  I'll start my research.