Trapped Into Rolling An IRA Into An Annuity?

Q. I believe I've been trapped into rolling my IRA into an annuity. What is the best approach to correcting this problem?

I'm 70 years of age and am inclined to buy and hold. Would ETF's be a good choice for me?

A. You options for getting out of the annuity without harm depends on how recently you bought it. If you purchased within the last 10 or 20 days then you should be able to cancel the transaction and not have any penalties. Check the annuity contract/statement of understanding and it will tell you how long the 'Free-Look' Period is.

If it's under that period and you need help let me know.

If you are looking for equity exposure and intend to hold securities for several years then ETFs can be a good choice.

Your posted comments on this and other questions are welcome.
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