Annuity Stretch IRA
Most of America has an IRA, or what is called a qualified account. Other qualified accounts you may be familiar with are approved plans like a 401k, 403b, and 457. Those retirement structures are attached to a place of work, and most transfer that money to a personal IRA once they stop working at that place of employment.
Qualified accounts are recognized by the government as retirement vehicles that allow you to defer paying taxes for as late as age 70 ½. At that time, our beloved government taps you on the shoulder to remind you that it’s time to start paying taxes on that money whether you like it or not. That forced IRA distribution is called your Required Minimum Distribution, commonly referred to as your RMD.