nerdygardner
Returning Member

Retirement tax questions

Something just doesn't feel right...he is "adamant" that the money isn't taxed.  I mean, we woulda been better off just to have kept the money at this point...now the only way we could come up with enough cash to pay the amount due would be to take money out of the account before the 1 yr anniversary, meaning we would pay a crap ton of early withdrawal penalties.  I don't understand it at all...I am perplexed...did he not know what he was doing?  Besides some sort of commission or something...I don't know...what would he have to gain by having us do this?  I am sooooo confused.  It's now with American Equity incomeshield 7

 

I'm praying it's all a big misunderstanding or error somehow.....sigh....