Interest earned in your annuity compounds tax-free until you begin making withdrawals, which means your value can grow at a far faster rate. Use this annuity tax calculator to compare the tax advantages of saving in an annuity versus a taxable account.
Use this calculator to compare the tax advantages of saving in an annuity versus an account where the interest is taxed each year such as a CD or brokerage account.
Step of 2
The results are hypothetical based on your input. Your results will vary. Any rates used are for illustrative purposes only and does not represent performance of any actual financial vehicle/strategies. Neither New York Life Insurance Company not its agents provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
Flexibility for the future
Should your financial needs change, you can access your money,* giving you control of your assets in the future and peace of mind today.
An annuity’s value can grow and compound tax-free, meaning more money for you over the long run.
We have the tools and products you need to help you plan your financial future.
*Note, any unqualified withdrawal are subject to ordinary income taxes and 10% IRS penalty on earnings.