1. Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Is an Annuity "Better" than an IRA?  First let's establish what an IRA is? An IRA is NOT an investment, it is a tax favored shoe box, that investments, including an annuity, can be placed in for tax favored status.  An annuity already has tax favored status and is not subject to IRS contribution limits as to what ever you put in an IRA would be. So as to "better" as usual better becomes the function of what an individual needs. There is no straight forward "better."
    Answered on May 15, 2013
  2. David RacichPRO
    Fountain Hills, Arizona
    An annuity is a savings or investment product depending upon the definition of an annuity such as security product like variable annuities versus a non-security fixed annuity product. An IRA is an individual retirement account which is a qualified “plan” and not product that can hold investments as well as insurance products like annuities. A qualified plan in and of itself is an IRS code permitting special tax treatment but without a product is an empty economic storage bin. An annuity is a product, which can be in a qualified plan or remain a non-qualified annuity. Strictly on the basis of the question, “Is An Annuity Better Than An IRA?” Yes, an annuity is better than an empty shell. 

    Answered on May 21, 2013
  3. Marcy TookerPRO
    Life & Health Insurance Agent, The Tooker Agency, Riverhead NY
    Your question might more fully be; Are the tax advantages of a non-qualified annuity better than an IRA?

    Of course if that is your question, we would then need to determine whether you were asking about a Roth IRA or a Traditional IRA. The financial world is rife with details that carry a lot of significance.

    If you are comparing a non-qualified annuity to a Roth IRA to a Traditional IRA, none is categorically better than the others. Each has it's own advantages and disadvantages. The key is determining which best fits your needs and your objectives.
    Answered on April 16, 2015
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