We have an Annuity that we are never annuitizing. Currently there is 190K Basis and 90K Gain. Our plan is to start drawing down on it after we are done with Roth Conversions, so let's say year 2030. We want to draw about 20K/year, as a guess, which will be 100% literal income and then just pull the 190K basis out and be done with it. I tried putting it in the Income/Annuity Section, but it doesn't really fit with my plan. Currently I have the Gain under my tIRA account and the Basis in the Cash Account, but I'm not particularly thrilled with that situation. If anyone has any other suggestions as to how I can best mimic my plan in this program, it would be greatly appreciated?
Thanks in Advance
Since you have the gain and basis in the other accounts, you could use Scheduled Withdrawals to pull from those? Annuities add so much complexities, not to mention expense, and the risk of being sold to off-shore companies. Have you evaluated just cashing it out, if possible? Why not annuitize?
@hines202 Yes, that's a possibility. I don't want to cash it out right now because the gain would cut into what I'm able to Roth convert. After we're done converting we will cash it out. Just want to rip the bandaid off so to speak and be done with it.
