Retire Rich with Expert 1035 Exchange Annuity Rollover
Key Considerations and Costs
Before proceeding with a 1035 exchange, consider the associated costs and potential surrender charges from your existing annuity. Additionally, new annuities may come with their own fees and expenses, such as administrative fees, mortality and expense risk charges, and investment management fees. Carefully reviewing these costs is crucial to ensure the exchange is beneficial4.
It's also wise to consult with a financial advisor who can provide personalized advice based on your unique financial situation and retirement goals. They can help you evaluate the potential impact of an exchange and guide you through the process.