I’ve been pretty critical of many annuities in the past, but there is one out there that might be worth a serious look. It’s called a Qualified Longevity Annuity Contract (QLAC) — yes, that’s a mouthful. Recent technical changes to this annuity OK’d by the U.S. Treasury offer a partial solution to the not-outliving-your-money challenge.
I'm betting that no one wants to pay more taxes than they must or be penalized for not following IRS rules. So as summer winds down, there are a few deadlines looming that taxpayers - and retirees in particular - will want to know about:
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