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.
There is no income tax assessed on funds you contributed to a Roth IRA, if it has been established for at least five years. Both income tax and the penalty will be assessed for money taken out in less than five years. Withdrawals from a traditional IRA for rollovers into a Roth are not taxed.