I Transferred My 401(k) Into an Annuity—What Should I Do Now?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 15 December 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVester.
0:08.0	Connect with an investing pro near you at Ramsey Solutions.com slash SmartVester.
0:14.1	Sherry's in Dallas.
0:15.0	Hey, Sherry, how are you?
0:16.6	Good, Dave.
0:17.3	How are you?
0:18.1	Better than I deserve.
0:19.4	What's up?
0:20.3	So honored to speak to you guys today,
0:22.1	I really need your advice. We'll try. I fell for the annuity scam and didn't know it was a scam
0:28.6	until after I did it and after my 20-day window was over. In October, we rolled $689,000 of my
0:37.2	husband's 401k into a fixed annuity.
0:40.8	And they gave us a 5% bonus, so the value today is 724.
0:45.9	The problem is the insurance company, as I'm sure you know, keeps 22% of that.
0:51.2	And the first year's surrecharges 13 percent so my question is do we stay
0:58.0	until the surrender charges drop especially given you know this is 30 days old this is 30 days
1:05.6	old it's it's over that it was in oct okay. I mean, it's 45 days old.
1:12.9	Yeah.
1:13.3	Okay.
1:13.6	He told me it's too late.
1:14.5	He told me I had a 20-day window.
1:15.9	This is the insurance agent that told you this.
	...

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