Published on: 04/24/2023

I retired at 55 with $2 million in my 401(k), should I buy an annuity with the $200,000 in my taxable brokerage or use it to fund a Roth conversion? | MarketWatch

That’s why financial planner Scott Bishop, of Avidian Wealth Solutions in Houston, suggests looking first at your 401(k) for any transactions you’re going to do with an annuity, and using those funds for the purchase. What an annuity is going to do for you is take a portion of your $2 million and turn it into a guaranteed monthly payment.

And maybe not even just one annuity. Bishop says there are several different types of annuities to consider, some that will give you immediate income and others that will wait until you are older.

You might even soon be able to buy an annuity within your 401(k), but it’ll depend on how fast your company plan adopts the new options, which could either be stand-alone or folded into target-date funds that shift their allocations over time.


Retired at 55_ Should I buy an annuity or do a Roth conversion with $2+ million_ – MarketWatch

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