loader from loading.io

Terry Savage: Chicken Money Strategies That Work

“Fun With Annuities” The Annuity Man Podcast

Release Date: 04/25/2023

Income Riders vs. DIAs: Shootin' It Straight With Stan show art Income Riders vs. DIAs: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What is an income rider?  Buying based on your goal  Addressing inflation with DIAs and Income Riders   Key Takeaways:  An income rider is an attachment to a policy; you can’t buy a standalone income rider. The only number that you have to focus on when you’re pitched an income rider is the contractually guaranteed payout number.  When it comes to annuities, one is never better than another. They all have a benefit depending on what your personal goal is. You should shop for both Income Riders and DIAs...

info_outline Bill Black: Life Insurance Facts You Need to Know Now show art Bill Black: Life Insurance Facts You Need to Know Now

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Bill Black discuss:  The problem with indexed policies that agents don’t often talk about  Backtested numbers in the life insurance side  Insurance is not an investment  How do hybrid life insurance policies work    Key Takeaways:  An indexed policy is a loan, which is supposedly non-taxable. However, people aren’t told that interest is being paid out of the cash value of the policy and when it gets overwhelmed, the policy collapses under its own weight and becomes a forgiven loan. Forgiven loans are...

info_outline Start Acting Annuity Rich (Wear a Suit!): Shootin' It Straight With Stan show art Start Acting Annuity Rich (Wear a Suit!): Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Acknowledging your wealth The scars of scarcity  Should you be worried about inflation  Setting up contractual guarantees   Key Takeaways:  Be rational about the wealth that you have. Don’t say you’re not rich if you are not one of the 40% of Americans today who have $400 to their name and are struggling. Acknowledge the wealth that you’ve earned.  Many people have what can be called the “scars of scarcity.” Experiencing poverty in one’s youth or growing up amid an economic crisis tends to...

info_outline Traditional or Reverse MYGA Ladder Strategies: Shootin' It Straight With Stan show art Traditional or Reverse MYGA Ladder Strategies: Shootin' It Straight With Stan

“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...

info_outline Stan The Annuity Man: Happy Birthday To QLACs show art Stan The Annuity Man: Happy Birthday To QLACs

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Why QLACs should be number one  Three reasons to buy a QLAC The downsides of a QLAC   Key Takeaways:  If agent commission didn’t come into play, QLACs would be the number one best-selling annuity product. It’s simple, pro-consumer, and works; it’s a product that focuses on the “will do” and not the “might do.” It’s a guaranteed lifetime income rolled from your IRA, and can be deferred as far out as age 85.  There are primarily three good reasons to buy a QLAC. First, you’ll get future income to...

info_outline Create Your Own Pension: Shootin' It Straight With Stan show art Create Your Own Pension: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Transferring risk through annuities  Single Premium Immediate Annuities  Annuities are commodity products  Structuring annuities to combat inflation   Key Takeaways:  Annuities are transfer of risk products. You are transferring the risk to the annuity company to pay as long as you’re breathing. Through annuities, you can create an income floor that you can never outlive.  A SPIA or Single Premium Immediate Annuity is when you want income to start as soon as 30 days from the issuance of the policy...

info_outline Don’t Be an Annuity Hypocrite: Shootin' It Straight With Stan show art Don’t Be an Annuity Hypocrite: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  An advisor who’s an annuity hypocrite Annuities you might already own.  “All annuities are ____”   Key Takeaways:  An advisor who says, “never buy an annuity” or “all annuities are ___” is an advisor that has lost all credibility. Don’t trust a hypocrite advisor. It’s highly likely that you already own an annuity. Some examples of an annuity you might already own are these: Social Securities, RMDs, and IRAs.  One cannot broad brush the whole annuity industry. Saying all annuities are bad is...

info_outline Stan The Annuity Man: The Psychology of Buying Annuities show art Stan The Annuity Man: The Psychology of Buying Annuities

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The Annuity PILL Do you need an annuity?  Is your money safe?  Overcoming FOMO   Key Takeaways:  You own an annuity for what it will do, NOT what it might do. Remember the PILL acronym: principal protection, income for life, legacy, and long-term care.  It's very simple to determine if you need an annuity period, and it comes down to two questions: What do you want the money to do contractually? And when do you want those contractual guarantees to start? The business model of insurance companies is...

info_outline MYGAs are NOT Callable: Shootin' It Straight With Stan show art MYGAs are NOT Callable: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What a MYGA isn’t and what it is  What is a call feature?  Locking in interest in MYGAs   Key Takeaways:  A MYGA is the annuity industry’s version of a CD. It’s a Multi-Year Guaranteed Annuity. It’s not an income annuity, and it’s not annualization. It’s when you give the money to the insurance company, and they contractually guarantee an annual yield for the duration you choose.  In simple words, a call feature is if interest rates go down after you purchase a high-yielding bond or CD; some...

info_outline Annuity Income Increases for Inflation: Shootin' It Straight With Stan show art Annuity Income Increases for Inflation: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Annuities that increase with inflation  The role of interest rates on pricing  For products that adjust for inflation Reverse-engineering your income floor   Key Takeaways:  Annuities don’t give things away for free. A product that magically increases with inflation doesn’t exist.  Lifetime income is primarily priced based on your life expectancy at the time you take the payment. Interest rates play a minor role.  For products that have a potential or contractual increase for inflation, the...

info_outline
 
More Episodes

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 divide the markets into the bulls, the bears, and the chickens. You should always have chicken money, it is the alternative to risk. Having discretionary funds that help you sleep at night is nothing to be ashamed of. 

  • If you have the financial ability to do so, consider waiting before taking Social Security until age 70. That’s because there’s roughly an 8% increase in your benefit per year in the years after your full retirement age. 

  • Your biggest responsibility isn’t the decisions you make or who you vote for, though those are really important. Your biggest responsibility is to pass down real history and to share the value of the American free enterprise capitalistic system to the younger generation. 

 

"Self-discipline is the essence of all decision-making. You don't want to be making decisions out of panic. You need to set money aside and decide where it's going. Peace of mind is priceless." —  Terry Savage.

  

 

Connect with Terry Savage:

Website: https://www.terrysavage.com/ 

YouTube: https://www.youtube.com/user/TerryTalksMoney 

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

Twitter: https://twitter.com/Terrytalksmoney 

Facebook: https://www.facebook.com/The-Savage-Truth-190870517609983/ 

New Book Link: https://www.amazon.com/gp/product/1119645441/ref=pe_2313400_441222210_em_1p_0_lm

 

 

Connect with The Annuity Man: 

Website: http://theannuityman.com/ 

Email: [email protected] 

YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g 

Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!