Felix is age 74 and his wife is age 73. He purchased a single life annuity contract that will pay him $80,000 per year for life. The expected return on the contract is
Paolo is age 77. He paid $240,000 for a single life annuity contract that will pay him $43,200 per year for life. The tax-free amount of the first $43,200 payment is
What is an annuity contract? Who are the parties to an annuity contract?
What is a good rule of thumb you should use when thinking about the taxability of retirement plan distributions?