 |
02-19-2011, 09:59 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.
|
|
|
 |
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!
|
|
02-19-2011, 10:36 AM
|
#2
|
|
Recycles dryer sheets
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.
|
|
|
|
|
02-19-2011, 10:40 AM
|
#3
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
|
Congrats.
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.
|
|
|
|
|
02-19-2011, 12:30 PM
|
#4
|
|
Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: USA
Posts: 1,050
|
Congrats. I leave it for others to comment on the VA.
|
|
|
|
|
02-19-2011, 01:57 PM
|
#5
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
|
Congrats Hamilton, who did you hear the great things from? Maybe the person who sold it to you?
|
|
|
|
|
02-19-2011, 02:12 PM
|
#6
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
|
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
|
|
|
|
|
02-19-2011, 02:50 PM
|
#7
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,930
|
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.
|
|
|
|
|
02-21-2011, 10:54 AM
|
#8
|
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
 Quote:
Originally Posted by hamilton
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.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
|
|
02-25-2011, 06:07 PM
|
#9
|
|
Full time employment: Posting here.
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
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
