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Fly First Class or Your Kids Will: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

Release Date: 02/08/2023

Annuities Can Have Flexible Income Start Dates: Shootin' It Straight With Stan show art 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...

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“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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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Christine Benz discuss:  Why Christine is so passionate about financial education and retirement portfolio planning.  Why decumulation is not bad (and when it is a good thing).  Retirement blindspots to be aware of.  Staying mindful of additional, variable costs in your spending plan. Bucket approach investing and portfolios.    Key Takeaways:  Your portfolio doesn't know whether your withdrawals are coming from income or from selling appreciated securities, what matters is that you are not taking out too...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The Income Rider and the accumulation value  Two numbers you need before you transfer to SPIA Calculating a SPIA quote  When you should transfer to a SPIA   Key Takeaways:  The Income Rider is an attachment to a policy that guarantees a lifetime income stream but it’s a separate calculation from the accumulation value. The accumulation value in simple terms is the real money.  Take the accumulation value of the policy and ask the company to give you two guaranteed contractual numbers: first is the Income...

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Swallow the Seminar Food, NOT the Annuity Pitch: Shootin' It Straight With Stan show art Swallow the Seminar Food, NOT the Annuity Pitch: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Swallowing the food but not the pitch  Annuities are never one-size-fits-all  Focusing on contractual guarantees    Key Takeaways:  If you ever get invited to an annuity “seminar”, then remember to swallow the food but not the pitch. Don’t be swayed by misleading terms and enticing promises. When it comes to annuities, always focus on the contractual guarantees.  When it comes to annuity companies and products, there is no “best” product and no “best” company that is applicable to everyone...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Chuck Jaffe discuss:  Politics and economy  Looking into how inflation affects you  How Indexed Annuities should be used  The question for cryptocurrency    Key Takeaways:  Politics don’t create the economy. There are a lot more factors that go into it than just who is in power. Economic forecasts sometimes become inaccurate because there is a huge disconnect between how we feel and how we’re doing.  Don’t let the news dictate what you truly feel. Try to honestly assess how inflation is affecting...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Creating a solid income floor for retirement  Considering your income  Many ways to create income    Key Takeaways:  Going into chapter two of your life, you have to do your own thing. Stop keeping score. You’ve already won the game, you already have enough money, so why are you still playing?  It’s important to have non-correlated income sources for your retirement such as pensions, rental properties, and annuities in order for you to create a solid income floor that’s not affected by market...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Lifetime income and principal protection  Return of your money  Peeling of the interest to solve income needs    Key Takeaways:  Annuities aren’t only for lifetime income, some products just protect the principal like a MYGA or a Fixed Annuity.  With lifetime income, annuity companies are on the hook to pay a return OF your principal plus interest as long as you are breathing.  Will peeling off the interest, never touching the principal, and getting a return ON your money solve your income...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Planning with simplicity  Annuity products overview  Consumer-focused future of annuities Tuning out the noise    Key Takeaways:  Lifetime income is priced primarily on your life expectancy and interest rates play a secondary role in pricing. Shop all carriers for the highest contractual guarantee, don’t gamble your retirement on hypothetical and theoretical numbers. Seek simplicity in planning.  Indexed annuities are going to keep getting pitched, and often through misleading and hyperbolic...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Annuities solve for PILL  Two questions that make annuities simple  Commoditizing annuities    Key Takeaways:  Annuities are simple; they’re a transfer of risk contract that primarily solves four things: principal protection, income for life, legacy, and long-term care. You don't need an annuity if you don’t need to solve for any of those four items.  You need to answer two questions when you consider buying annuities: “What do you want the money to contractually do?” and “Where do you want...

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More Episodes

In this episode, The Annuity Man discussed: 

  • There are no U-Hauls behind hearses
  • Why aren't you spending your money? 
  • Fly first class, or your kids will 
  • The millionaire next door 

 

Key Takeaways: 

  • The phrase “there are no U-Hauls behind hearses” means that you don’t get to keep anything you’ve amassed when you’re dead. It will hopefully be a wake-up call for many to live life for the day and spend the money that they’ve earned on themselves. 
  • Ask yourself what really is the reason why you’re not spending your money on what you want. Bring some self-awareness through that question and challenge those thoughts with math and rationality. Challenge it with math and rationality. 
  • Either fly first class or your kids will. If you don't have kids, it's a no-brainer, spend your money and leave whatever's left to charity. If you have any legacy goals or family members you want to leave the money to, you can do that. 
  • The millionaire next door is you. You weren’t given your money based on a lottery, genetic, or otherwise. You worked hard forever, and now you can afford the things you want. Check the price, see if it’s worth it, and buy it. 

 

"All I'm asking you to do is upgrade your life because you've earned it and deserve it." —  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!