Asking for Financial Advice Again- sorry


Recycles dryer sheets
Nov 22, 2004
I suppose that I should be thankful for having a problem like this, but it really does occupy my thinking too much. I had a post here a short time ago, and was routinely told not to annnuitize to the extent that I was doing.
To re-cap- 1. TIAA Traditional- about $700,000
CREF Stock/TA RE- about $180,000
2. 90% of all of this is After Tax
3. I am a 60 year hs teacher
4. I have little money in the bank
5. I have health insurance covered
6. I will have SS (real low amount)
and Medicare
7. I have about $90,000 in an annuity
in Singapore that I can use at 62.
8.I will begin to use my money in
The above are the facts. I will leave my high teaching job at 60 years of age.
My after tax money is NOT roll-over eligible, but may be moved as a 1035 exchange to another non-qualified plan. However, because almost all my money is "After Tax", it cannot be rolled over into a IRA or a qualified retirement plan. I am quoting all of this from a Wealth Management Advisor and another advisor from TIAA-CREF that I now have. Again- no real savings in the bank, and I do NOT want to depend on working for money, although I might work for fun. Please do not suggest the "Interest Only" on my annuirty. That will be difficult to live on.
My original desire was to annuitize the $700,000 and continue to contribute to my CREF Stock/Real Estate funds until I was 70. I am too old to get a Roth IRA anyway even if I could roll over into that. I would think a Roth IRA would be a good vehicle for people in their 40's
If I did a TPA (transfer all my money from my annuity over a 10 year period), where would I put the money? Of course, I'd need to use some of it. I'd prefer not to touch the stock part or real estate of my retirment money until I am much older. Therefore, what can I "safely" do to with a 10 payments to me from my Annuity. Each would be about $88,000? Again- no roll-overs allowed for me.
I am doing research on this, but this forum and all of your expertise is invaluable. I appreciate it.

could you do a partial transfer payout to provide the needed income, and let the rest stay where it is? ... perhaps to annuitise at a later date.
We are still missing a critical piece of info: what will your annual living expenses be?
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