- Introduction
- Series EE and Series I Savings Bonds and the Education Tax Exclusion
- Tax-Advantaged Education Plans
- Annuities
- 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.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value |
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