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How to prioritize your savings goals
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Footnote 1 Qualified higher education expenses can include room and board, textbooks and other supplies, and computers (when required for attendance).

Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes and contain both an investment and insurance component. They are sold only by prospectus. Guarantees are based on the claims-paying ability of the issuer and do not apply to a variable annuity's separate account or its underlying investments. The investment returns and principal value of the available subaccount portfolios will fluctuate so that the value of an investor's unit, when redeemed, may be worth more or less than their original value. Withdrawals made prior to age 59½ may be subject to a 10% additional federal tax. Surrender charges may apply. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal.

Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S federal, state or local tax penalties. Neither Merrill Lynch nor any of its affiliates or financial advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

ARPBYBN9-EXP04302020