You Won The Game. Why Are You Still Playing?: Shootin' It Straight with Stan
“Fun With Annuities” The Annuity Man Podcast
Release Date: 06/22/2022
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
“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
“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
“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
“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
“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
“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
“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
“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
“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...
info_outlineIn this episode, The Annuity Man discussed:
- Not everyone needs to be exposed
- Bonds and market volatility
- Looking into lifetime income
- Questions to ask your advisor
Key Takeaways:
- Financial advisors tend to advise their clients to do 60% equity and 40% bond split or that they always have some exposure, but it doesn’t apply to everybody. People who’ve won the game don’t have to keep playing.
- Bonds aren’t fool-proof; they go down in value if interest rates go up. If you’ve already accumulated enough to live the life you want and don’t want to tie yourself into any risks or volatility, then don’t. You have that option.
- If peeling off the interest rate isn’t an option for you, then why not look into lifetime income? You can structure your annuity where your money doesn’t have to go to the annuity company when you die. There are so many ways you can structure the contract in a way that achieves your goals.
- Advisors get paid assets under management, which is why they want you to dip into the market. Ask your advisor if you have enough money to live off. From a fiduciary standpoint, they’ll have to look at the money and tell you honestly if you are able to do that.
"Plan for when you win the game to stop playing the game. Look up at the scoreboard; you won!" — Stan The Annuity Man.
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