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Pam Krueger: Your Wealthramp to Fiduciary Advice

“Fun With Annuities” The Annuity Man Podcast

Release Date: 02/14/2023

Avoiding Common Pitfalls With Annuity Purchases: Shootin’ It Straight With Stan (TAM Classic) show art 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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“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...

info_outline Keep Your Powder Dry Annuity Income Planning: Shootin' It Straight With Stan (TAM Classic) show art 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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“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...

info_outline Traditional or Reverse MYGA Ladder Strategies: Shootin' It Straight With Stan (TAM Classic) show art 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...

info_outline Lovingly Handcuffing Your Beneficiaries with Annuities: Shootin' It Straight With Stan (TAM Classic) show art 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...

info_outline Belt & Suspenders Annuity Strategies: Shootin' It Straight With Stan (TAM Classic) show art 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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“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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“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...

info_outline FIAs: The Real Story: Shootin' It Straight With Stan show art 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...

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In this episode, The Annuity Man and Pam Krueger discuss: 

  • Should you trust people not held to a fiduciary standard? 

  • The advantage of buying a registered advisor 

  • The mark of a great financial advisor 

  • Two questions you must ask your advisor 

 

Key Takeaways: 

  • There are a lot of self-described advisors working at brokerage firms or insurance companies. They are not necessarily bad people or bad advisors but work for a business model that has consciously chosen not to be held to the legal fiduciary standard. 

  • Hiring an advisor who is held to a fiduciary standard is advantageous to a client. Anytime the client feels that the advisor has mismanaged their finances, the burden of proof will be on the advisor. 

  • Humility is the x-factor in an advisor. A good advisor is not in it just to live off of their client’s money, but to offer their expertise for the client’s good. 

  • Ask them first who are their typical clients and what they do for them. Then, ask them how their clients pay them. Relax and take your time, but go straight into business. 

 

"Fiduciary is not a frame of mind. Fiduciary is not a mood you're in. A fiduciary standard is a legal standard." —  Pam Krueger

 

 

Connect with Pam Krueger:

Website: https://wealthramp.com/ | https://www.pamkrueger.com/ 

LinkedIn: https://www.linkedin.com/in/pamkrueger/ 

Twitter: https://twitter.com/PamkruegerTV 

 

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!