070: John Olsen: Annuity Royalty Shares Wisdom
“Fun With Annuities” The Annuity Man Podcast
Release Date: 08/17/2021
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: What retirement is all about The ducks that you may already have Annuity income ducks Key Takeaways: Retirement, or chapter two of your life, is the time that you need money hitting the bank account so that you can go live your life. This chapter is going to be all about you, about your lifestyle, and about reclaiming your health. The first income duck you have is the best inflation annuity on the planet: Social Security. If you have a pension from a company or the government, that’s another income...
info_outline Marcia Mantell: Cookin' Up Your Retirement Plan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Marcia Mantell discuss: The value of simplicity in understanding financial concepts Getting ready for the emotional aspect of retirement The key to financial success in retirement The importance of creating an estate plan Key Takeaways: If you can’t explain a concept or product simply to somebody who doesn’t live in your industry, then you don’t understand that concept or product enough. You are going to retire someday, you have to be ready for not only the financial aspect but also the...
info_outline Your Retirement Plan Is Not an Annuity Game: Shootin' It Straight With Stan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The standard of a fiduciary Your retirement is not a game Annuities as guarantees and as commodities Key Takeaways: Be wary of people in the annuity industry who sell one product to every type of person. In most cases, the product they’re selling is the highest commission product. The annuity you buy has to be aligned with the goal you want to set for chapter two of your life. Some advisors look at annuities like it’s a game, thinking only about making the most amount of money by selling the most amount...
info_outline Annuity Decisions Should Be Simple & Contractual: Shootin' It Straight With Stan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Buying contractual guarantees Keeping it simple with annuities Annuities that adjust for inflation Key Takeaways: Buy annuities only for their contractual guarantees. Don’t buy an annuity for hypothetical, theoretical, back-tested returns. Don’t buy an annuity for the upfront bonus. Buy an annuity for what it will do, not what it might do. Annuities are supposed to be simple. You should understand your annuity contract enough to be able to explain it to a nine-year-old. Annuity companies...
info_outline Andy Panko: Financial Planning Demystified and Unemotional (TAM Classic)“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Andy Panko discuss: How advisors should construct their fees The complexity of decumulation Making the plan as good as it can be Cryptocurrency is a lottery ticket Key Takeaways: The work isn’t linear to the asset size; advisors shouldn’t make more money just because assets go up. In the same way, advisors shouldn’t be paid less just because the markets go down. They’re still doing the same amount of work and providing the same services. Investment management, even good investment management, has...
info_outline Annuities Will Do What You Contractually Need: Shootin' It Straight With Stan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Don’t buy the dream Backtested numbers are not guaranteed What an annuity is for Key Takeaways: Do not buy hypotheticals, dream sales pitches, or back-tested returns. Do not buy the annuity dream because you're going to own the contractual reality. There’s no such thing as a “guaranteed and back-tested” return. To say that it’s back-tested means that there are no guarantees. Buy an annuity for what it will do, not what it might do. If you want market returns, don’t buy an annuity of...
info_outline Don’t Buy Annuity Hypothetical Returns: Shootin' It Straight With Stan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Annuities are contracts How Indexed Annuities should be used Don’t buy an annuity for market returns Key Takeaways: To say that something is “guaranteed and backtested” means that there is nothing guaranteed at all. Annuities are contracts, buy them for what they will do and not what they might do. Indexed Annuities have the potential to go down in value, but they can be used as an efficient delivery system for guaranteed lifetime income through an income rider attachment. If you...
info_outline Terry Savage: The Savage Truth For Your Money in 2024“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Terry Savage discuss: 401k and annuities What does it mean to be a fiduciary? Annuities are commodity products Always have some chicken money Key Takeaways: When you are in the accumulation phase, there should be no limitations at all on the upside. You’re better off focusing on accumulation during the 401k time period and then at the end pivoting to an immediate annuity for a lifetime income stream. Being a fiduciary means more than just having a plaque on the wall. Anyone in the financial business...
info_outline Annuities Can Have Flexible Income Start Dates: Shootin' It Straight With Stan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The four lifetime income products How annuities are priced The simplicity of SPIA Getting the highest guarantee Key Takeaways: There are four lifetime income products: Single Premium Immediate Annuities, Deferred Income Annuities, Qualified Longevity Annuity Contracts, and Income Riders that can be attached to Variable Annuities and Indexed Annuities. Annuities are priced primarily on your life expectancy at the time you start the payment. Interest rates play a secondary role. Deferred...
info_outline Belt & Suspenders Annuity Strategies: Shootin' It Straight With Stan“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: State guaranty funds The true safety of the industry Life insurance companies are more regulated Assigning unused money to beneficiaries Key Takeaways: If you look at the state guaranty fund, each state has a specific rule in place to protect you and your money in case something happens to the carrier. You should be buying the claims-paying ability of the life insurance company from the standpoint of safety. The true safety of the annuity industry is the industry policing itself. Life...
info_outlineIn this episode, The Annuity Man and John Olsen discuss:
- The suitability approach and consumer trust
- How the annuity industry can be better
- Approaching people who hate annuities
- Risk management and risk transfer
Key Takeaways:
- There is a considerable certainty that companies out there are determined to give the right product to their clients.
- If you’re looking for a solution for your client, the agent should be able to show 3-10 companies that could get the client what they want and need.
- Improving your knowledge of annuities as an agent is simple: read the contract. Don’t rely on the marketing material, read the hard words.
- Here’s what you can do with risks: you either assume it, remove it, reduce it, or transfer it. Annuity allows you to transfer risks.
"These are investments to a degree, but most annuities are risk management tools. There are a few things you can do with risks: assume it, remove it, reduce it, or transfer it… Transfer the risk, that’s what annuities do. Fixed annuities are all about guarantees." — John Olsen
Check out John Olsen’s here: https://www.amazon.com/John-L-Olsen/e/B011PP1LBK/
Connect with John Olsen:
Website: http://olsenannuityeducation.com/
LinkedIn: https://www.linkedin.com/in/john-olsen-clu-chfc-aep-ba551217/
Facebook: https://www.facebook.com/john.olsen.165
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: [email protected]
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