- Series EE and Series I Savings Bonds and the Education Tax Exclusion
- Tax-Advantaged Education Plans
- Cash Value Life Insurance
- Roth IRAs
Annuities are another way to defer taxes until retirement. With an annuity, you put after-tax money in, and the earnings grow tax-deferred. That is, the amounts in the annuity are invested and the earnings are not taxed until you make a withdrawal. Like IRAs and other retirement plans, you pay a 10% penalty if you take the money out before age 59 1/2, with certain exceptions. And your annuity may have fees and additional surrender charges for taking the money out early. The rule for annuities: put your money into any qualified retirement plans that you have access to, and into Roth or deductible IRAs, then into non-deductible IRAs before considering an annuity. All of these can be more flexible and may have more benefits than annuities. For more information, see the sections Fixed Annuities and Variable Annuities.
|Not FDIC Insured||Not Bank Guaranteed||May Lose Value|
|Not a Bank Deposit||Not Insured by Any Federal Government Agency|
Meeting with NHTrust team is without obligation or cost.NHTrust is a trade name of New Hampshire Trust Company. Brokerage services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Investment and insurance products are subject to investment risk, including the possible loss of value. Products and services made available through Osaic Institutions are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. Osaic Institutions and NHTrust not affiliated.