Best Answer: There are so many investment options that indeed it does get very confusing. Annuities in general are set up for a fixed period of time, at the end of which you can withdraw your money without penalty. As the 1st responder mentioned you need to understand the annuity contract. You can not exactly role the money over, but you can withdraw it from the annuity and deposit it into the Roth IRA provided you do not exceed the yearly limit of deposits--$5000 currently I believe, but last year it was $4000.
Both variable annuities and mutual funds have recently taken quite a hit, so it is not too surprising that your annuity might not be performing too well. Neither are most mutual funds so far.
The big advantage of the Roth IRA is that you will never have
to pay any taxes on the earnings from that account so long as you do not withdraw them prior to 59 1/2. Annuity earnings are fully taxable when withdrawn, but if you do not currently have much in the way of earning then there will not be much in the way of taxes.
Definitely, a Roth IRA is a much better investment vehicle than an annuity in my opinion. The expenses of annuities are considerable, much more that a T Rowe Price mutual fund.
For someone without a great deal of experience the 2030 fund is an ok investment. This particular fund is very highly rated by Morningstar. In my opinion it could use more foreign stock exposure. But the important thing for you is to begin building up your Roth IRA account, and this is a good way to begin.