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.
1 Earnings in a Traditional IRA are tax-deferred until withdrawn in retirement when they are taxed at your current rate. 2  Contributions to a Roth IRA can be withdrawn at any time, penalty-free. 3  Withdrawals from a Traditional IRA before the age of 59Â½ are subject to taxes and a 10% federal penalty. Any earnings in Roth IRA are federally tax-free. 2  Earnings in a Traditional IRA are tax-deferred until withdrawn in retirement when they are taxed at your current rate. 3  Contributions to a Roth IRA can be withdrawn at any time, penalty-free.