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Should I transfer 401(k) funds into an annuity?

At age 60, is it wise to transfer $70,000 worth of 401(k) funds into an annuity? I would do this in order to retire at 62 and use the funds for medical insurance premiums. I also have a $250,000 annuity, long term care policy.

401(k), Annuities, Peri-Retirement
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September 2017

No! Stay away from annuities at all costs. The only person that makes money from an annuity is the person selling it to you.

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