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Pam Krueger: Your Wealthramp to Fiduciary Advice

“Fun With Annuities” The Annuity Man Podcast

Release Date: 02/14/2023

Annuity $$ Doesn’t Have to Go Poof: Shootin' It Straight With Stan show art Annuity $$ Doesn’t Have to Go Poof: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What is a life-only lifetime income stream?  How you can choose where your money goes when you die The many ways that you can structure an annuity    Key Takeaways:  People who complain that annuities are bad because the money goes poof when the policyholder dies are talking about one type of annuity that’s structured in one specific way: a life-only lifetime income stream. There are 40-plus different ways to structure an annuity.  Annuities can be structured so your money doesn’t go to the annuity...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Owen Schrum discuss:  The interconnectivity of financial structures  How a hard recession could be avoided  Annuity companies are more regulated than banks  Positive trends in the economy    Key Takeaways:  Inflation, the debt limit, the Federal Reserve, and the markets are not standalone. They are all directly connected and related. Being careless with one part can cause the whole thing to collapse.  If the chairman of the Federal Reserve says that they’re considering lowering the rates based on the...

info_outline Time Is The Ultimate Currency: Shootin' It Straight With Stan show art Time Is The Ultimate Currency: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The difference between lifespan and health span and the ultimate currency  Don’t waste your time  How annuities can help you maximize your time  The purpose of life    Key Takeaways:  Lifespan is how long we're going to live. Health span is how long we're going to live well. Time is the ultimate currency. The time that we’re given is all we have, we can’t get more of it, and it’s finite.  If time is the ultimate currency, contemplate how you use it. What areas of your life are you wasting...

info_outline Monte Carlo or Stanicarlo Simulation: Shootin' It Straight With Stan show art Monte Carlo or Stanicarlo Simulation: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  A simulation doesn’t provide contractual guarantees  Contractual guarantees for your chapter two  You’ve more than earned the right to finally live your life    Key Takeaways:  Don’t fall for what a Monte Carlo simulation shows; it doesn’t prove anything. Ask them if any of it is contractually guaranteed, and you’ll hear from them yourself that, at the end of the day, it’s all hypothetical.  When you’re in chapter two of your life, you don’t need to track the markets as you’ve always...

info_outline Martin Parlato: Factually Ranting on Investing Now show art Martin Parlato: Factually Ranting on Investing Now

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Martin Parlato discuss:  Why it’s important to appoint the qualified  Cryptocurrency is “craptocurrency”  On Facebook, TikTok, and Twitter  Don’t get fancy, and don’t panic    Key Takeaways:  A person’s identity or politics is entirely irrelevant compared to how competent they are for the job they are given; that’s what matters. People who are appointed to powerful positions should be qualified.  Cryptocurrency is still “craptocurrency” for Marty. He doesn’t follow it, use it, or...

info_outline Lifestyle Income Guarantees: Shootin' It Straight With Stan show art Lifestyle Income Guarantees: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Lifestyle income guarantee  Making time for what truly matters  What’s your lifestyle number?    Key Takeaways:  Annuities are the only category that provides income as long as you are breathing. There’s no ROI until you die. Since retirement is all about lifestyle, you’ve got to retire from the markets and put guarantees in place to sustain the life you want as long as you are breathing.  Life is fleeting. Spend your precious days on things that are meaningful. Chapter two isn’t the time for...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discusses:  Not everyone needs an annuity MYGA to SPIA  Who should get a deferred income annuity?  The highest contractual guaranteed income rider   Key Takeaways:  Many of you out there don’t need an annuity right now, but when you need income, buy an immediate annuity by shopping all carriers and looking for the highest-yielding guarantee.  The second way is called MYGA to SPIA. This is where you buy a five-year MYGA which gets a guaranteed interest rate. Then, at the end of the term, shop all immediate annuity...

info_outline Terry Savage: Chicken Money Strategies That Work show art Terry Savage: Chicken Money Strategies That Work

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Terry Savage discuss:  Responding to current financial issues  The bulls, the bears, and the chickens  Should you wait before taking social security?  The biggest legacy you can leave    Key Takeaways:  Don’t panic at every scary event that you hear from the news. Recognize America’s history of resiliency and the crises the country has gotten through. Also, check for yourself if and how current financial issues affect you personally before reacting to them.  In every stage of your life, you should...

info_outline Annuity Companies Aren't Smarter: Shootin' It Straight With Stan show art Annuity Companies Aren't Smarter: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Will there be a “run” on an annuity company?  How annuity companies manage bonds  There’s no run on lifetime income   Key Takeaways:  Annuity companies are not smarter or better than banks; they are just more regulated. They also put things in place so there can’t be a run on the annuity company.  Annuity companies and banks are buying the same investment-grade bonds. However, unlike banks, annuity companies don’t have to sell them, so they hold on to them.  Contractual lifetime income is...

info_outline Live off the Interest: Shootin' It Straight With Stan show art Live off the Interest: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What does it mean to live off the interest?  Living off guaranteed interest  When interest rates go down  If you can’t live off of the interest   Key Takeaways:  At the time of this taping, some money markets are 4, some CDs at five, and some MYGAs at five and a half. A lot of you out there have enough funds that whatever interests you can take off of those products is sufficient, and you never have to touch the principal.  There's no guaranteed return with index annuities, variable annuities, or...

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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!