It depends on your age, status of retirement, savings, and whether you are still contirubting to a qualified plan such a 401(k). It’s a balancing act of these situations to determine the best time.
However, if you have maximized contributions to your 401(k) or individual IRA and still have other savings to invest, then an annuity is an excellent option.
If you are already retired and are no longer making contributions to a 401(k) or IRA, then it’s a good time to consider utilizing a 1035 exchange to move the funds into an annuity. This strategy will protect the principal from investment losses, generate a guaranteed lifetime income stream, death benefit, and long term care payment options.