Does anyone have an Annuity with Prudential? Is it worth it to get into ? The one I am asking about is the Pruco Life Ins Co AZ; PREMIER RETIREMENT VAR B??
74429E149 any information is appreciated… thanks
Carol

Do you really need an annuity?
I just don’t like their fees which are on average of about 5%.
All this just to get a check each month seems steep.

Could you take your money and buy ladderd cd’s?
If you are retired, you want your money to be safe and cd’s are FDIC insured.
Annuities arent – if Prudential goes under – so long money (up to 100,000 is insured).

Two companies I want you to consider first.
Charles Schwab – call them for an annuity package, and Fidelity Investments.
They have lower cost annuities because "they are not out to get ya".

I know I will never make annuities – I know from a retirement calculator that I can take out 2 to 4% of my money out each year safetly and increase it with inflation.
I plan to have all my money in cd’s that pay out monthly and use that income for retirement.
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It depends whether it is in a "Qualified" retirement plan or account or not. There is no way you are going to get a tax "deferral" if you spend it on a home, regardless of what type of account it is in.

But if it is in an IRA or eligible to be transferred to an IRA, once it is in the IRA, up to $10,000 used to build, buy, or modify your "first" home is excluded from the 10% penalty. However, the total distribution would be added on top your other income and taxed at your normal tax rate (some of which may bump into a higher tax bracket).

IRS Publication 575 covers pensions and annuities, and 590 covers IRAs (see irs.gov). Note that since Roth IRA contributions have already been taxed, you could withdraw Roth IRA "contributions" at any time without tax or penalty, but that is not an option if it is not currently in a Roth IRA. IRA to Roth IRA conversions are taxed the year they are converted and have to season in the Roth for 5 years to avoid the 10% penalty.

This will be a little lengthy, and I apologize for that in advance. I inherited some money from my Grandfather, he left it in an annuity. I have never had to deal with anything like this before. I am 18 years old, and I receive 352 dollars each month from the Government in the form of Social Security checks until the end of this summer, because my mother passed away when I was young. I have never had an on paper job, I had a really good summer job for family friends, and they didn’t pay in the form of checks. I have never paid taxes before, so I am not really familiar with that, but I could learn. I have to fill these papers out and my father is not going to help me because he didn’t inherit anything and is mad. I can take my benefit in a lump sum, I can apply for a Periodic Payment Annuity Benefit, I can elect the Beneficiary Continuation Option, I can become owner of the annuitant, I may enroll the money into a traditional or Roth IRA. I need to know which option I should choose, and they ask for Income Tax Withholding information. I can have them not withhold the taxable portion and agree that I understand I am responsible to repay them. I can have them remove 10% automatically before payment is sent, or can designate an additional portion to taxes. Help please, and thanks.

Ask the person handling the estate to suggest someone to discuss this with. This really isn’t something that you should get advice from strangers. Take the time to think about it. Don’t be in any rush to decide, it isn’t going anywhere.

p.s. Tell no one that you are getting money. Keep it top secret. It is none of their business & will prevent people from bothering you about it or worse.

My ex-husband had an annuity from his union all set up. Once he’s been inactive from that union for two years, he became eligible to cash it out. In our divorce settlement, they awarded me 60% of that. My lawyer suggested that we divide it using a quadro. If he is eligible to cash it out now, can he just do that and get me my 60% of that? If not, then how do I go about establishing this quadro? And how much will this cost me and how difficult is it to get that money out?

With the quadro you can do whatever you want with your half.
If he wants to be an idiot and cash it out, let him.
Please make sure you ask your lawyer next time you see him to make sure, since I only know this from IRA’s.

Not sure if your plan is to keep it invested as an annuity or cash it out also.
The quadro is if you want to keep your 60% in the annuity.
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I have a relative who passed away in the 1980’s in Oregon. I have also found out through some research that the state of Oregon is holding an Annuity as unclaimed property in his name. I do not know the amount that is being held. I would like to find out who his next of kin, or executor of his will is so that I can forward this information to him/her. Any suggestions?

Good idea is to talk with your family member to see if you could find someone that has read the will and see what you can get from them. Then after you find out, of course go see where you can find this kin of his and tell him.

It is really nice of you to actually do this for him.

Thank you.

lf you actually won, wouldn’t they still ask do which option do you really want??

If you choose the annuity when you buy the ticket, you’ll still have the option of going with the cash option when you claim the prize but not vice versa. It’s best to keep your options open and consult an accountant if you do win cause the difference could mean millions in taxes.

For those who don’t know, annuity is the lottery jackpot split up into 26 annual payments. The cash option is usually a lil less than half of the jackpot, but you get it in one lump sum.

depends on the size of the pot. probably cash. I have no guarantee that that lottery will still be around in 20 years.

50 years old with 50,000 mortgage (total of 70,000) debt how would you invest?

Without knowing more specifics, I would say mutual funds, for the following reasons:

- Annuities are usually laden with extra fees, and are products that exploit peoples’ fear of losing money. They provide little value that you couldn’t achieve on your own – without the extra fees.

- In most cases, your mortgage will provide you with a good-sized tax deduction each year. This is what financial planners call "good debt."

- Mutual funds provide diversification, flexibility, low fees (if you go with the right company), and professional management. Which fund(s) to invest in is another matter that will depend on a variety of factors. If you are not comfortable with your investing knowledge/experience, I might recommend a Target Date fund, where you choose the fund that is most closely aligned with the year you plan to retire, and it will automatically get more conservative as you approach that retirement date (I would also recommend going to the library or book store and picking up one or two books on investing basics). If you are more comfortable with your investing acumen, you can come up with a mix of funds more specifically geared toward your risk tolerance, industry interests, etc.

If you go with funds, be sure to pick a good fund company. My favorites are Vanguard, T. Rowe Price, and Fidelity. All have an excellent selection of funds, low fees, and outstanding customer service.

I hope that helps. Good luck!