Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Just Retired
Old 02-19-2011, 10:59 AM   #1
Confused about dryer sheets
Join Date: Feb 2011
Location: Hamilton
Posts: 3
Just Retired

Does anyone have any experience with the Prudential Highest Daily Lifetime 7% Annuity product? I invested about 15% of our retirement money in one of these in 2009. I have heard great things about these investment vehilces as long as you can leave the money in the product until maturity (9 years). They were so popular the guaranteed interest rates are lower now.

Thanks in advance for any information.

hamilton 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 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 02-19-2011, 11:36 AM   #2
Recycles dryer sheets
ScottFromUtah's Avatar
Join Date: Jul 2007
Location: Orem/Provo
Posts: 231
Welcome, Hamilton. Congratulations on your retirement. I don't know anything about the Pru HDL annuity product. You might want to post the question in the financial section of the forum.

ScottFromUtah is offline   Reply With Quote
Old 02-19-2011, 11:40 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072

Not familiar with that particular product.... but I am not a fan of Variable Annuities.

We have a VA we bought way back while accumulating (taxes were higher and deferred contribution limits were low). Haven't contributed to it in years. We will probably cash it out for income during early FIRE after we turn 59.5

We are planning to use a SPIA and combine it with my pension and SSx2 to create a base income.
chinaco is offline   Reply With Quote
Old 02-19-2011, 01:30 PM   #4
Full time employment: Posting here.
Join Date: Dec 2010
Location: California
Posts: 952
Congrats. I leave it for others to comment on the VA.
Aiming_4_55 is offline   Reply With Quote
Old 02-19-2011, 02:57 PM   #5
Thinks s/he gets paid by the post
73ss454's Avatar
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
Congrats Hamilton, who did you hear the great things from? Maybe the person who sold it to you?
73ss454 is offline   Reply With Quote
Old 02-19-2011, 03:12 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,030
Congratulations! wooo hooooo

I can't be of any help on the Prudential annuity. Sorry.
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 02-19-2011, 03:50 PM   #7
Thinks s/he gets paid by the post
Koolau's Avatar
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 3,411
I add my "woo-hoo" to the chorus! Ain't ER grand?

You'll probably find on this forum that the general opinion on VAs is that they are "bad". Having said that, you'll want to do a lot more research on how one might get OUT of the one you have than you did getting into it. Just sayin'...

Welcome. If you haven't already, check in at the "Hi, I'm..." section. Let us get to know you.
Ko'olau's Law -

Anything which can be used can be misused. Anything which can be misused will be.
Koolau is offline   Reply With Quote
Old 02-21-2011, 11:54 AM   #8
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,669
Originally Posted by hamilton View Post
They were so popular the guaranteed interest rates are lower now.
Thanks in advance for any information.
Well, since you're asking ex post facto, my concern would be that the "so popular" announcement means that the company is frantically trying to stop the hemorrhaging getting a tad concerned that they might have piled up more liabilities than assets.

The book written on, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 02-25-2011, 07:07 PM   #9
Full time employment: Posting here.
Retire Soon's Avatar
Join Date: Nov 2005
Posts: 655
Congratulations, Hamilton. I hope you enjoy your retirement as much as I have enjoyed mine. I was in a variable annuity once about 20 years ago. When I figured out it was more cost effective to cancel the annuity and pay the penalties than it was to lose potential income in a no-load mutual fund, I simply canceled it. For me, it turned out to be a good move.

"I went to the woods because I wished to live deliberately... and not, when I came to die, discover that I had not lived."

--Henry David Thoreau
Retire Soon is offline   Reply With Quote

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

Similar Threads
Thread Thread Starter Forum Replies Last Post
Semi-Retired --> Retired ferco Life after FIRE 8 08-20-2009 06:08 PM
You know you're retired when... RASAP Life after FIRE 22 08-18-2009 05:21 PM
To those already retired Florida FIRE and Money 40 03-04-2009 03:24 AM
Hello - Retired in TX Wags Hi, I am... 17 08-22-2007 04:07 AM
Retired at 55 GoulashBrother Hi, I am... 4 05-06-2005 01:15 PM

» Quick Links

All times are GMT -6. The time now is 08:03 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.