Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. When someone hits their 70s, every financial move starts to feel permanent. One reader says her 74-year-old father has about $800,000 sitting in a 401(k) and a brother who keeps telling him to "lock it up" in an annuity. The pitch sounds convincing — guaranteed income, less market risk, and peace of mind. But rolling an entire 401(k) into an annuity isn't as straightforward — or as universally smart — as i ...