For population 25 years and over in Kite: 1  High school or higher: 63.8%. 2  Bachelor's degree or higher: 3.0%. 3  Graduate or professional degree: 2.0%. 4  Mean travel time to work (commute): 30.5 minutes.
If the annuity is in a Roth IRA, all of the withdrawals will be tax-free as long as youâve had the Roth for five years and are older than 59Â½. Taxes are just one issue to consider when deciding whether or not to convert your annuity into a income stream, however.
For one thing, the estate tax applies to assets you own in a Roth IRA the same way it applies to assets you own in a regular IRA. Whatâs more, if you die less than five years after setting up a Roth IRA, your beneficiaries may have to pay tax on earnings if they withdraw them too soon.s a result, a beneficiary may have to pay tax on earnings withdrawals if the original ownerâs death and the beneficiaryâs withdrawal both occur shortly after the Roth IRA is established. This result isnât as harsh as it may seem, however.