The Perfect Annuity Does Not Exist: Shootin’ It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
Release Date: 05/15/2024
There’s No ROI Until You Die With Lifetime Income Annuities: Shootin’ It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The four primary annuity types for lifetime income There’s no ROI until you die with lifetime income annuities Two important questions to consider when buying annuities Key Takeaways: There are four primary annuity types providing lifetime income: Single Premium Immediate Annuities, Deferred Income Annuities, Qualified Longevity Annuity Contracts, and Income Riders attached to products like Index Annuities and Variable Annuities. Lifetime income from annuities is a combination of return of principal plus...
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How the Annuity Sausage Is Made: Shootin’ It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The pricing mechanism of annuity products Annuities are commodity products Buy only the products that you understand Key Takeaways: Annuity pricing is primarily based on life expectancy, with interest rates playing a secondary role. Another key factor in annuity pricing is that annuity prices change based on capacity. Focus on the contractual guarantees when purchasing annuities, they are commodity products. So shop all carriers and find the highest contractual guarantee that is most suitable for...
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Roger Whitney: How To Rock Your Retirement (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Roger Whitney discuss: The two retirement crises Balancing on the teeter-totter Before going into fancy tactical stuff Focusing on what you can control Key Takeaways: There are two retirement crises: one is when people don’t have enough money to pay the bills when they can’t work anymore. The other crisis is for people with many resources and options but doesn’t know the right thing to do. On the one hand, you should start having your best life today, and on the other hand, you also want to make sure that...
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The Perfect Annuity Does Not Exist: Shootin’ It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Focusing on guarantees The best annuity Finding the annuity best suited for you Key Takeaways: Annuities are financial products that can provide a steady stream of income during retirement, but they come with both benefits and limitations. It's essential to approach annuities with a clear understanding of their purpose and to focus on the contractual guarantees they offer, rather than potential returns. When considering annuities, it's important to recognize that the best options are often Social...
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The Cost of Waiting to Purchase an Annuity: Shootin’ It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Don’t time the market when buying annuities The cost of waiting for the perfect moment Key Takeaways: Don’t time the market when buying annuities. Instead of trying to find the perfect moment, determine whether you actually need an annuity by asking yourself what you want the money to do and when you want the guarantees to start. Delaying payments may result in higher guaranteed income, however, you have to look at the big picture by factoring all the payments you will miss while waiting for that ideal...
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Steve Parrish: Rational and Phased Retirement Planning (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Steve Parrish discuss: People don’t understand annuities Preparing for diminished capacity Life expectancy is good and getting better Managing your retirement plan Key Takeaways: Annuities are not an investment, it’s a form of insurance that makes investments even better. Address problems in advance while you still can. Think about how your bills will be paid, how your money will be invested, and how it can be protected from being abused by others when the time comes that your capacity is diminished. Plan to live past...
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Always Reverse Engineer Annuity Income Quotes: Shootin’ It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Be strategic and efficient when purchasing annuities Reverse engineering annuity quotes Maximizing retirement income Key Takeaways: When it comes to purchasing annuities for retirement income, it's essential to be strategic and efficient with your money. This is why you should aim to use the least amount of money possible to meet your specific income goals. Rather than simply accepting the first quote you receive, reverse engineer quotes using specialized calculators at . By doing so, you can compare...
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Keep Your Powder Dry Annuity Income Planning: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The value of annuities for lifetime income planning Laddering strategy with annuities Placing an annuity inside a trust Key Takeaways: When it comes to planning for lifetime income, annuities can be a valuable tool. However, it's essential to approach annuities with strategies that allow for flexibility and the ability to adapt to changing circumstances. By purchasing multiple annuities with different start dates, you can create a steady stream of income that aligns with your needs over time. This...
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Gary Baker: The Growth of Group and Fee-Based Annuities
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Gary Baker discuss: The Secure Act's role in making annuities more accessible within 401(k) plans Lifetime guaranteed income options within 401(k) target date funds The widespread inclusion of lifetime income options How annuities can alleviate pressure on Social Security Key Takeaways: The retirement landscape is evolving, and with the introduction of the Secure Act, annuities are becoming more accessible to a broader market through 401k plans. Employers can now offer annuities as an investment option, providing employees...
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There’s NO Annuity Sweet Spot to Purchase: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Annuities are contracts The perfect time to buy an annuity You can’t time contracts Key Takeaways: There is no "sweet spot" to purchase annuities, as all types have contractual guarantees that should be analyzed. Remember that annuities are contracts, not investments. The perfect time to buy an annuity is when the contractual guarantees make sense to you and when they fit that gap for principal protection, income for life, legacy, and long-term care. Nobody knows where interest rates are going to...
info_outlineIn this episode, The Annuity Man discussed:
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Focusing on guarantees
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The best annuity
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Finding the annuity best suited for you
Key Takeaways:
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Annuities are financial products that can provide a steady stream of income during retirement, but they come with both benefits and limitations. It's essential to approach annuities with a clear understanding of their purpose and to focus on the contractual guarantees they offer, rather than potential returns.
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When considering annuities, it's important to recognize that the best options are often Social Security and pensions.These provide reliable income streams that can form the foundation of a secure retirement.
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Avoid being swayed by hypothetical or theoretical scenarios presented by agents or advisors. Instead, compare each annuity product to determine which one best aligns with your retirement goals and needs.
"When you get to the commercial side of annuities, there is no perfect annuity even though they're all pitched as such. They all have limitations and benefits. They all have good and bad." — Stan The Annuity Man.
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
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