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The primary disadvantages of deferred annuities are cost, flexibility, and complexity. There can be higher charges and fees than other investment vehicles, and there are typically surrender charges, meaning that you have to pay penalties if you want to access your money before a certain period of time.

To avoid paying taxes on your annuity, you may want to consider a Roth 401(k) or a Roth IRA as a funding source. Then, you do not pay taxes upon withdrawal since Roth accounts are funded with after-tax dollars.

And if you don't need income now, a flexible premium deferred annuity offers a way to make premium payments over time and turn that into a guaranteed income stream later in life. Your earnings grow tax-deferred at interest rates guaranteed not to fall below a certain minimum.

The two main options for annuity premiums are single, meaning you make a one-time lump-sum payment, or flexible, meaning you make several payments over time. So, a flexible premium deferred annuity is an annuity that you pay into incrementally over time and that you defer receiving payments from until a later date.

A systematic withdrawal plan (SWP) enables you to create a set income stream by dividing up your investment or retirement account into smaller sections. You receive this income on a regular basis at a time interval you choose, such as monthly or annually.

T-FLEX CAD (T-FLEX) – is a parametric computer-aided design (CAD) software application for 2D design, drafting, and 3D solid modeling based on commercial Parasolid geometric kernel. It's primarily developed and distributed by Russian software company Top Systems.

T-Flex is a fixed annuity that offers competitive rates. It can guarantee income that you cannot outlive.

The insurer issuing the annuity charges surrenders fees if funds are withdrawn during the annuity's accumulation phase. The IRS charges a 10% early withdrawal penalty if the annuity-holder is under the age of 59½.