For population 25 years and over in Kite: 1  High school or higher: 63.8%. 2  Bachelor's degree or higher: 3.0%. 3  Graduate or professional degree: 2.0%. 4  Mean travel time to work (commute): 30.5 minutes.
If the annuity is in a Roth IRA, all of the withdrawals will be tax-free as long as youâve had the Roth for five years and are older than 59Â½. Taxes are just one issue to consider when deciding whether or not to convert your annuity into a income stream, however.
The tax rules vary based on the type of annuity and how you take the money. You can buy an annuity with funds in your IRA, and if you use pretax money from an IRA or a 401(k) to purchase the annuity, then all payouts will be fully taxed.