How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TaxRobin Your Own Question
TaxRobin, Senior Advisor
Category: Finance
Satisfied Customers: 15607
Experience:  15 years of experience in financial advising with emphasis on tax issues.
Type Your Finance Question Here...
TaxRobin is online now
A new question is answered every 9 seconds

I am 71 now.I have a 11 year annuity that ends when I am

Customer Question

I am 71 now.I have a 11 year annuity that ends when I am 81.I want to change it to a Lifetime one.I even want to addmore money to it.Can I do this?
Submitted: 1 year ago.
Category: Finance
Expert:  TaxRobin replied 1 year ago.


Generally once you have chosen a payment option, you cannot change your mind. This is further complicated by your age and the Required Minimum Distribution rules. You cannot contribute to a tax deferred account after you reach 70 1/2.

Your chosen option pays you a fixed amount over the time period you chose and the change now with added premiums would not be allowed.

You are required to click a positive rating if I am to be credited with the response.
You have to actively click on a rating and click submit. Smiley Faces or Stars.

Customer: replied 1 year ago.
I want my 32.00 returned! I am not satisfied with your answer!!!!!
Customer: replied 1 year ago.
I did not accept your answer but you charged me anyway GRRRRRRRRRRR.
Expert:  TaxRobin replied 1 year ago.

I will send your request to Customer Support