California’s Proposition 19 lets homeowners 55 and older move their property tax base to a new home anywhere in the state, up to three times. For Los Angeles retirees who downsize, we compare annuity options for the proceeds.
Tell us about your savings and income goals, and a licensed agent will follow up by phone or video.
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Prop 19 changes the math on selling a long-held home. Here are the basics for homeowners 55 and older.
| Rule | Proposition 19 | What it means |
|---|---|---|
| Where you can move | Anywhere in California | Not limited to Los Angeles County |
| How often | Up to three times | More flexibility than the old one-time rule |
| Timing | Buy or build within two years of selling | Plan the sale and purchase together |
We look at how sale proceeds could support income alongside other savings.
We compare fixed, fixed indexed, and income annuities across insurers.
We keep enough money accessible outside any annuity.
Since April 1, 2021, Proposition 19 lets homeowners 55 and older transfer their property tax base value to a replacement home anywhere in California, up to three times. The new home must be bought or built within two years of selling. If it costs more, the difference is added to the taxable value.
Yes. Some retirees put part of their sale proceeds into an annuity for income or principal protection, while keeping the rest accessible. How much to commit depends on your other income, expenses, and need for flexibility. A tax professional can help with any capital gains questions.
A multi-year fixed annuity, often called a MYGA, credits a set interest rate for a fixed number of years, similar in concept to a CD but issued by an insurer. It isn’t FDIC insured. Surrender charges usually apply if you withdraw more than allowed before the term ends.
Look at the insurer’s financial strength ratings, the product’s rates and surrender schedule, and any rider costs. Annuity promises depend on the issuing insurer’s claims-paying ability, so ratings matter as much as rates. We compare these factors side by side across several insurers so the trade-offs are clear.
Yes. Many income annuities offer joint life options that continue payments as long as either spouse is alive, at a lower monthly amount than single life. Some deferred annuities offer joint income riders too. We compare how each option handles a surviving spouse.
Tell us about your savings and income goals, and a licensed agent will lay out options by phone or video.
Annuities are insurance products, not bank deposits, and are not FDIC insured. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurer. Guarantee association coverage is subject to limits and conditions. Surrender charges may apply. We do not provide tax or legal advice.
