This weekend I visited my family back in Cincinnati and got to meet my Dadâs new iPad for the first time. I donât have enough money for this fancy technology so Iâve never really used an iPad before.
Deferred Annuities. A deferred annuity grows tax deferred until the contract is annuitized (put into a payment stream) or surrendered (paid out as a lump sum). This type of annuity is a vehicle for accumulating savings for a future goal, such as retirement, and eventually distributing the value.
What is a 'Single-Premium Deferred Annuity - SPDA'. A single-premium deferred annuity (SPDA) is a type of annuity contract that is established with a single lump-sum payment by the owner. The annuity then grows on a tax-deferred basis until annuitization. Single-Premium Deferred Annuities (SPDA) can be either fixed or variable, and distributions are only taxed when you take them.