What’s the Difference Between an IRA and an Annuity?

 Posted on Posted on: 08.05.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on What’s the Difference Between an IRA and an Annuity?

With a variable annuity, you put in money that’s already been taxed and then the account grows tax deferred. That means you’ll have to pay income taxes on whatever growth the annuity makes when you start taking money out in retirement. Unlike a fixed…