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Sign Now! Decide Later? - Shootin' It Straight with Stan

“Fun With Annuities” The Annuity Man Podcast

Release Date: 06/15/2022

Tom Hegna: Talking The Annuity Talk & Walking The Annuity Walk show art Tom Hegna: Talking The Annuity Talk & Walking The Annuity Walk

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Tom Hegna discuss:  There are no second chances in retirement  Why the bond market is down right now  Annuities should be bought and not sold  Investing wisely into cryptocurrency    Key Takeaways:  When it comes to retirement, there’s no dress rehearsal; there are no second chances. We need to get it right the first time. That’s why you must have at least your basic living expenses covered with a guaranteed lifetime.  Inflation is at 9%, yet we got a 30-year bond under 3%. That could mean that the bond market,...

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Fear and Greed Loses to Simple and Contractual - Shootin' It Straight with Stan show art Fear and Greed Loses to Simple and Contractual - Shootin' It Straight with Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Buying the dream, owning the reality  The fear and greed pitch  Simple is always better  Focus on the lifestyle    Key Takeaways:  If you’re looking for the perfect product, eventually, you’ll find a person who’ll say they have it and sell it to you. You’ll buy the dream, but you’ll own the contractual reality.  It’s easy to sell fear and greed. Everybody has that knee-jerk reaction and wants to have more or not to lose any. That’s the fear and greed pitch.  If you have some doubts about...

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Steve Vernon & Naomi Karp: Proactively Addressing Cognitive Decline show art Steve Vernon & Naomi Karp: Proactively Addressing Cognitive Decline

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man, Steve Vernon and Naomi Karp discuss:  Safeguarding from financial exploitation  The Money Path: six steps to protect yourself  Things to consider when getting multiple advocates Easing someone else into planning for cognitive decline   Key Takeaways:  Financial exploitation is something you need to safeguard your future self against because as you age, it’s only natural that you’d be more vulnerable to making mistakes. Keep in mind that 5% of financial exploitation is done by someone a person knows and trusts.  First,...

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I Bond, No Brainer: Shootin' It Straight with Stan  show art I Bond, No Brainer: Shootin' It Straight with Stan 

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Should you purchase I Bonds?  Treasuries are as safe as it gets  Five places to put your money  Inflation is personal    Key Takeaways:  Purchasing I Bonds is a no-brainer. Go to treasurydirect.gov to buy direct from the treasury I Bonds.  Treasuries are as safe as it gets because they can tax us and confiscate our money to pay them off, and that would happen if we needed to do that. The downside to I Bonds is that they don’t allow you to put as much money in them.  There are only five legitimate...

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John Lenz: Annuity Insider Strategies for Rising Rates & Inflation   show art John Lenz: Annuity Insider Strategies for Rising Rates & Inflation  

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and John Lenz discuss:  How inflation affected annuities  Return On Premium MYGA’s The cost of not having a pivot feature Advantages of a guaranteed base    Key Takeaways:  The rise in interest rates has been a positive for the annuity space in general. SPIAs have responded nicely where the Single Premium Immediate Annuity is now buying more robust monthly income. A better name for ROPs or Return On Premium is Pivot MYGA since it gives you the option to pivot, which means to take your money and go to another company with a higher...

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Limits to Annuity Purchases: Shootin’ It Straight With Stan show art Limits to Annuity Purchases: Shootin’ It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed: Limit on annuities  Putting everything on an annuity  How much should you invest in annuities?  Why an application could get denied    Key Takeaways:  For most financial products, you can get as much as you want, but there is a limit on what you can get with annuities, and that’s a good thing.  You’ll get denied if you want to put everything you have on an annuity. The only way to go through is if the agent filled in the application incorrectly or falsely.  The annuity industry prefers 50% of your...

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Bob Carlson: The Good & The Bad About Social Security in 2022 show art Bob Carlson: The Good & The Bad About Social Security in 2022

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Bob Carlson discuss:  Hedging for rising inflation rates  Accessing institutional shares through 401k  What are your digital assets?  Watching out for blockchain technology   Key Takeaways:  The inflation rate that you experience is probably lower than what data that is shared suggests. However, don’t forget that inflation rates are still rising, showing signs that it won’t be transitory.  401k plans allow access to institutional shares, which have the lowest expenses. Doing a roll-over from a 401k to an IRA will...

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It's Time for A Financial Intervention: Shootin' It Straight with Stan show art It's Time for A Financial Intervention: Shootin' It Straight with Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Addiction to the market  Reflecting on what you really want  How would you like your retirement to look like  When you don’t need an annuity    Key Takeaways:  It is possible to get addicted to the market, and when you’re at that point, you’ll need to give yourself an intervention. At some point, you’re going to have to stop.  Be honest, do you want to subject yourself to the daily ups and downs of politics and the markets, tracking it, hoping it goes well, hoping that you’ll get a bump? That...

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Mr. FIA-X: The Truth About Current Fixed Index Annuities  show art Mr. FIA-X: The Truth About Current Fixed Index Annuities 

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Mr. FIA-X discuss:  Annuity companies do not give free money  Ways to know if you’re dealing with a qualified advisor  Sales pitches that you should watch out for  Buying a product that you understand    Key Takeaways:  Upfront bonuses are candy for the stupid. There are no philanthropists in annuity offices giving out free money to clients. They’ll chip away at you in different ways to recoup those dollars. They haven’t been around for hundreds of years because they gave money away. If your advisor says...

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There's No Perfect Answers, Just Bad Sales Pitches: Shootin' It Straight with Stan show art There's No Perfect Answers, Just Bad Sales Pitches: Shootin' It Straight with Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The annuity industry’s bad reputation Don’t trust the sales pitch  Are all annuities bad?  Ask for the contractual guarantees    Key Takeaways:  The annuity industry has unfortunately earned its bad reputation despite its monopoly on lifetime income. That’s because some agents target people who are not financially informed.  When something sounds too good to be true, especially in annuities, it 100% is. There are no perfect answers, just bad sales pitches. If you don’t know who the sucker at the table...

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More Episodes

In this episode, The Annuity Man discussed: 

  • Never, ever “sign now, decide later”
  • How agents give annuities a bad name
  • The trouble is not worth it 
  • There's never a time for urgency

 

Key Takeaways: 

  • Never, ever “sign now, decide later.” If anybody pitches something that sounds too good to be true, it probably is. 
  • “Sign now, decide later” types of pitches are a shady sales practice that gives annuity companies a bad name. The only goal of this tactic is to make a sale and not to help the client. 
  • These shady tactics done for short-term gain will have long-term consequences and drawn-out complications for people who are involved, especially the client. The trouble is not worth it. 
  • Please take note and remember that there is never an urgency to buy an annuity for consumers out there. 

 

"For any of the agents out there… stop it. People can make up their own minds. You don’t have to do bait and switch tactics. You don’t have to do shady “sign now” deals because to unwind a lot of this is a mess." - 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 

Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!