Annuity Strategies For Cognitive Decline: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
Release Date: 12/21/2022
Avoiding Common Pitfalls With Annuity Purchases: Shootin’ It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Focusing on contractual guarantees What annuities solve for Common annuity pitch traps Key Takeaways: Avoid non-guaranteed hypotheticals and focus on contractual guarantees when considering annuities. Buy annuities for specific needs like principal protection, income, long-term care, or legacy, not for market returns. Be wary of urgency sales pitches, steak dinner seminars, advisors behaving like friends, backdated performance illustrations, promised market participation with no downside, upfront bonuses,...
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Comparing Index Annuity Income Riders and DIAs: Shootin’ It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: An overview of Deferred Income Annuities Finding the best fit Income Riders attached to Indexed Annuities Key Takeaways: DIAs are essentially single-premium immediate annuities deferred past one year. It has no moving parts, no annual fees, and no market attachment, making it a straight transfer of risk for lifetime income. DIAs can be used in Roth and traditional IRAs, and are taxed based on the account type. DIAs are efficient, no-cost, no-fee transfer-risk pension products that can be deferred for up to 40...
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Keep Your Powder Dry Annuity Income Planning: Shootin' It Straight With Stan (TAM Classic)
“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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Fixed Rate No Brainer: Shootin' It Straight with Stan (TAM Classic)
“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...
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Traditional or Reverse MYGA Ladder Strategies: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Traditional laddering with MYGAs What is “reversing”? Traditional laddering and reversing Key Takeaways: You do a traditional 3-year, 4-year. 5-year ladder if you are hoping that rates will go higher. It’s a strategy you use when you want to have money as the rates are rising so that you can attach yourself and lock yourself in with those higher rates. Reversing is the opposite of laddering; you lock in the MYGA for 10, 9, 7, or 10, 7, or 5 years because the rates are falling. This is also a great...
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Lovingly Handcuffing Your Beneficiaries with Annuities: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Protecting your beneficiary from dumb choices How Stan lovingly handcuffs his beneficiaries Handcuffing your loved ones is good for them Key Takeaways: Lovingly handcuffing your beneficiaries with annuity guarantees protects them from making dumb decisions with lump sums. Stan has written in the trust that when he dies, there will be a lifetime income annuity purchase for each of his daughters, guaranteed to pay them for the rest of their life as long as they are breathing. Your beneficiaries might not...
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Belt & Suspenders Annuity Strategies: Shootin' It Straight With Stan (TAM Classic)
“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...
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Annuities: A Strategy, Not a Game: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Retirement planning is not a game Asking hard questions Diversification and limits Two key questions to ask Key Takeaways: Stan emphasizes that choosing an annuity is not about sales tactics or commissions, but about protecting your life's hard-earned savings and creating a secure retirement strategy. Always ask detailed questions about the annuity product, understand its contractual guarantees, and don't buy something you can't fully comprehend. If an advisor can't explain it clearly, walk away. Don't put more than...
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Swap Your Income Rider for a SPIA: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Income Riders vs. Single Premium Immediate Annuities (SPIA) Comparison Process Strict rules Probability of Improvement Key Takeaways: Stan explains that in some cases, you can potentially swap an income rider from a variable or indexed annuity for a SPIA with a higher guaranteed lifetime income stream. To determine if a transfer makes sense, you must: compare the income rider amount, use the accumulation value (not the income rider value), ensure the new annuity provides a higher contractual guarantee, verify...
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FIAs: The Real Story: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Annuities were never meant to be a market product The complexity of index options Misleading sales pitches to avoid listening to Annuities solve for your specific goals Key Takeaways: Fixed indexed annuities were created in 1995 to compete with CD returns, not to provide true market participation. They are fixed annuities issued by life insurance companies, regulated at the state level, and not securities. There are over 750 index option choices and 50+ indices, with complex calculation methods...
info_outlineIn this episode, The Annuity Man discussed:
- Everyone goes through cognitive decline
- Considering cognitive strategies
- Transferring risk through annuities
- Why you should plan for cognitive decline
Key Takeaways:
- It doesn’t matter how sharp or healthy you are right now, everyone will go through cognitive decline eventually.
- Start considering cognitive strategies from a turnkey standpoint, whether it's for you, or whether it's for your spouse, or both, especially if you are already in the “slow-go” phase of retirement.
- Annuities are transfer of risk products. They sell for four things, principal protection, income for life, legacy, and long-term care. If you don't need to solve for those contractually, you don't need an annuity.
- We all know somebody who either had a stroke, an accident, or a fall, and suddenly they can’t make those kinds of decisions anymore. It’s a horrible thing to happen to somebody, don’t let it be your horror story. Plan for cognitive decline.
"Protecting the principle is a cognitive strategy. Lifetime Income is the ultimate cognitive strategy. Obviously, long-term care [is a] cognitive strategy." — Stan The Annuity Man
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