Create Your Own Pension: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
Release Date: 09/06/2023
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,...
info_outline
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...
info_outline
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...
info_outline
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...
info_outline
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)
“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)
“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...
info_outline
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...
info_outline
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...
info_outline
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:
-
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 to as far out as a year. There are no moving parts, no market attachments, and no annual fees. It is a very simple transfer of risk.
-
SPIAs, DIAs, QLACs, and Income Riders are all going to pay as long as you are breathing, all four can be set up so that 100% of the unused money is going to go to the beneficiaries instead of the annuity company. There is no “best” when it comes to these commodity products. The best is the one that gives the highest contractual guarantee.
-
You can attach increases to annuity products that increase to hopefully combat inflation. However, annuities decrease the initial payments to make up for that increase whether potential or contractual. It sounds good in theory, but mathematically, it typically doesn’t hold up.
"The COVID wake-up call for all of us is ‘go live your life’ and because of that you need to look at how you create your own personal pension." — 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!