Note: I think this was one of these "Hey sign this" that my wife did.
You each have *******a fixed annuities that are out of the surrender period and are currently paying 1.50% so we should look at other alternatives for those funds. They are worth approximately $31,000 each with about $21,000 in deferred gains. In order to continue to defer those gains, we might just look to roll these funds over into another annuity. Current fixed rate annuities are paying 4.35-4.45% for 3 years and 4.80% for 5 years.
Here's the deal:
Buying a new-to-us car. We have pension and Social Security income that is more than we need to live comfortably. We have a large amount of IRA money from rolled over 401k's/403b's that we barely touch. We can get 6.7% at the credit union for a used car but it is a major PITA to buy a car with a credit union in a neighboring county.
Options:
Use the credit union loan to buy the car.
Use the dealers financing which is slightly more but less daunting
Cash in some IRA money, pay the taxes and be done with it.
Note: This is our lowest earning year. I postponed Social Security because I thought I would be working but didn't do it. We had to draw from IRA's d
