loader from loading.io

026: What To Look Out For With Over-hyped Annuity Sales Pitches

“Fun with Annuities” The Annuity Man Podcast

Release Date: 01/31/2020

032: Annuity Financial Advice for Seniors & Baby Boomers show art 032: Annuity Financial Advice for Seniors & Baby Boomers

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Determining if you need an annuity. Annuities are not one size fits all - they are contractual guarantees.  Taking care with the annuity sales pitches that are coming your way.  Creating your Annuity Statement of Understanding.    Key Takeaways:  Every single day, over 10,000 Americans reach the age of 65. To determine if you need an annuity, ask yourself 2 questions: What do you want the money to contractually do? When do you want those contractual guarantees to start? Never buy an annuity for market growth. ...

info_outline
031: Annuity Transfers: How the Process Works and Should You Do It show art 031: Annuity Transfers: How the Process Works and Should You Do It

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Types of annuities that are and are not transferable.  Buying and transferring an annuity inside of an IRA. Only transferring if it is in your favor (not the agent’s favor).  How Income Riders affect the transferability of your policy.    Key Takeaways:  You can transfer from one IRA to another as a non-transferable event (meaning no taxes) regardless of the type of account.  Transferring your annuity is not always in your best interest. Just because it is transferable does not mean you should transfer...

info_outline
030: Annuity Calculators: How to Use Them for Maximum Results show art 030: Annuity Calculators: How to Use Them for Maximum Results

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  The misinformation around annuities.  How buying an annuity is like buying a plane ticket.  Maximizing results with annuity calculators.  Using annuity calculators to get a feel for what the guarantees are.    Key Takeaways:  There is never an urgency to buy an annuity. The only urgency is to understand the contract.  The best annuity out there is the one that provides you with the highest contractual guarantee for your scenario.  There is no way to know the future inflation rate. Laddering your...

info_outline
029: Retirement Annuities: Which Type Is Right For You?  show art 029: Retirement Annuities: Which Type Is Right For You? 

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  The limitations and benefits of the different types of annuities.  Knowing if an annuity is right for you or not.  All of the annuities can be used in the different types of accounts out there - it just changes how it is taxed.  Reverse engineering to plan your annuity.    Key Takeaways:  Annuities are the only product on the planet that guarantee a lifetime income stream, it's a monopoly that only annuities have. If you do not need to contractually solve for one four things - principal protection, income for...

info_outline
028: Annuity Death Benefits: How They Work & The Choices Offered show art 028: Annuity Death Benefits: How They Work & The Choices Offered

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Structuring your lifetime income payment to go to your beneficiary, not the evil annuity company.  Life insurance versus annuity death benefits.  Common death benefit choices.  Beneficiary setups for annuity death benefits.      Key Takeaways:  Annuities are contracts, it is up to you how you want to structure it.  Annuities are customizable from a death benefit standpoint.  Fixed annuities are regulated at a state level, not a federal level.  There is no urgency to buy an annuity, you’ve got...

info_outline
027: Social Security Annuity: Why Every US Citizen Already Owns an Annuity show art 027: Social Security Annuity: Why Every US Citizen Already Owns an Annuity

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Congratulations! You already own the best inflation annuity on the planet - Social Security! Shouldering or transferring your risk. One of the biggest mistakes that people make with annuities.  Buying annuities for what they will do, not what they might do.  Understanding what you are buying before you buy regardless of what your annuity agent says.      Key Takeaways:  Social Security is political dynamite that no party wants to touch - it’s going to be there and you’re transferring the risk to the government...

info_outline
026: What To Look Out For With Over-hyped Annuity Sales Pitches show art 026: What To Look Out For With Over-hyped Annuity Sales Pitches

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  The importance of contractual guarantees driving your buying decision Why you should never buy annuities for potential market type growth What to be aware of at the “bad chicken dinner annuity seminars” How to protect yourself by creating your own “statement of understanding”      Key Takeaways:  Indexed annuities were designed in 1995 to compete with CDs returns Upfront bonus offers are part of the overall contractual guarantee of the policy A high percentage income rider is not real yield There's no urgency to buy...

info_outline
025: How To Shop For An Annuity To Get The Best Deal show art 025: How To Shop For An Annuity To Get The Best Deal

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why he offers both personal service and do-it-yourself choices How all annuity types are commodities Why you should make your decision solely on the contractual guarantees Why he believes annuities should be bought, not sold      Key Takeaways:  Take your time and make the decision on your terms and your timeframe By law, you have to speak with a licensed agent at the end of the process to make sure that the recommendation is suitable and appropriate for your specific situation You should quote all carriers to find the...

info_outline
024: How Annuity Companies Make Money On Your Annuity show art 024: How Annuity Companies Make Money On Your Annuity

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  How annuity companies are more regulated than banks Where annuity companies are required to put your money The US 10 Year Treasury Note and the role is plays with annuities  The reason for surrender charges on deferred annuities    Key Takeaways:  Fixed annuity companies have 100% of your money available day one Life expectancy drives the pricing train with lifetime income guarantees All lifetime income payments are a combination of return of principal plus interest  Annuity companies are shouldering the risk you are...

info_outline
023: How The Secure Retirement Act & DC Affects Annuities show art 023: How The Secure Retirement Act & DC Affects Annuities

“Fun with Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Why DC wants people to start planning for their retirement income How Qualified Longevity Annuity Contracts (QLACs) were the original idea The new “fiduciary safe harbor” provision, and what it means to you The original intent of Social Security payments in retirement   Key Takeaways:  If you have a Traditional IRA, you should consider a QLAC Company retirement plans will now start offering annuity income products The RMD (Required Minimum Distribution) age rose from 70 ½ to 72 The stretch IRA strategy is now only applicable...

info_outline
 
More Episodes

In this episode, The Annuity Man discusses: 

  • The importance of contractual guarantees driving your buying decision
  • Why you should never buy annuities for potential market type growth
  • What to be aware of at the “bad chicken dinner annuity seminars”
  • How to protect yourself by creating your own “statement of understanding”   

 

Key Takeaways: 

  • Indexed annuities were designed in 1995 to compete with CDs returns
  • Upfront bonus offers are part of the overall contractual guarantee of the policy
  • A high percentage income rider is not real yield
  • There's no urgency to buy an annuity. The only urgency with an annuity is to fully understand the limitations and the benefits of the specific annuity strategy you are considering

 

 

"If you can't fully explain it to a nine year old, then don't buy the annuity being pitched to you." —  The Annuity Man 

  

Connect with The Annuity Man: 

Website: TheAnnuityMan.com 

Email: Stan@TheAnnuityMan.com 

YouTube: Stan The Annuity Man