Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Phoenix PIA annuity
Old 11-16-2011, 09:13 AM   #1
Recycles dryer sheets
 
Join Date: Sep 2007
Posts: 79
Phoenix PIA annuity

Looking at an annuity, 100K, with a 45k bonus bump on income base, wait 2.1 years and receive $6300 per year for me or my wife, cannot go down in price, can pull the remainder of the money after 10 years, anything left before the 100k is used up, goes to children.

Does this sound like a good idea, stocks not doing good, cd's terrible, whats your thoughts?
__________________

__________________
lynxville is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-16-2011, 09:26 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Its a fancy name for an equity indexed annuity. While it looks like they are giving you 45% return to wait three years, that's an income base you can't walk away from. It has a 10-year surrender charge. $6300 amounts to about a 4.5% withdrawal rate. It is very doubtful that your contract value would go up because of the high fees and it uses a bevy of "participation rates" that cap your return. All you would get is the 4.5% withdrawal, and unlikely to have that go up........

If it were me, I would wait until you need the income and buy a SPIA. When rates go back up in a couple years, you should be able to find an attractive one.....
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 11-16-2011, 09:54 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
And go look at the financial strength rating of that insurer...
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 11-16-2011, 10:00 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
braumeister's Avatar
 
Join Date: Feb 2010
Location: Northern Kentucky
Posts: 8,601
PIA annuity?
Yes, evaluating one of those things is definitely a P In the A.

Sounds like you might be reading the "features" section of the marketing material, rather than the (very) fine print. Make sure you completely understand all aspects of the instrument you're being sold before seriously considering a purchase.
__________________
Pas de lieu Rhône que nous.
braumeister is offline   Reply With Quote
Old 11-16-2011, 10:08 AM   #5
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
Yeah, and if you can actually figure out what the fine print says I'm sure you won't buy it.
__________________
Work is something you do to get enough $ so you don't have to....Me.
73ss454 is offline   Reply With Quote
Old 11-16-2011, 11:25 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Is this the company; Phoenix Wealth Management?

https://www.phoenixwm.phl.com/public...ings/index.jsp


What are your goals? Do you want guaranteed income for life or asset growth....
__________________
chinaco is offline   Reply With Quote
Old 11-16-2011, 03:13 PM   #7
Recycles dryer sheets
 
Join Date: Sep 2007
Posts: 79
Thanks for the unput
__________________
lynxville is offline   Reply With Quote
Old 11-16-2011, 03:17 PM   #8
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,107
Quote:
Originally Posted by lynx View Post
Thanks for the unput
You axed...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 11-16-2011, 07:56 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,428
Quote:
Originally Posted by brewer12345 View Post
And go look at the financial strength rating of that insurer...
+1
__________________

__________________
pb4uski is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 12:34 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.