Quick Question About MYGA's

[MercyMe]

I know that non-qualified MYGA's are taxable only on the interest earned. Is it correct that these taxes can be further deferred by rolling the matured MYGA into another one?

My current MYGA's will mature before I'm 59-1/2 so I do plan to roll them over, but wanted to make sure I won't be taxed until I stop rolling them over.

 

[MercyMe]

Is bumping allowed?

 

[Al18]

I think you are correct. I would check with https://www.stantheannuityman.com to confirm.

 

[MarieIG]

I think you are correct. I would check with https://www.stantheannuityman.com to confirm.

Stan the annuity man does mention rolling one MYGA after another, and not paying tax if you don't withdraw, till you get to a SPIA.

 

[ShokWaveRider]

I would call one of the many brokers and ask.