loader from loading.io

Christine Benz: Avoiding Blind Spots in Your Retirement Portfolio Planning (TAM Classic)

“Fun With Annuities” The Annuity Man Podcast

Release Date: 02/13/2024

Transfer Your Risk to Annuity Contractual Guarantees: Shootin' It Straight With Stan show art Transfer Your Risk to Annuity Contractual Guarantees: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What annuities solve for  Transfer of risk  The three phases of retirement    Key Takeaways:  Annuities solve for PILL: Principal protection, Income for life, Legacy, and Long-term care. There’s no G for growth, or R for Returns. If you want growth and returns, do not buy an annuity of any type.  Annuities are bought for transferring risk. When you buy an annuity contract for lifetime income, the company will be on the hook to pay as long as you’re breathing.  There are three phases of...

info_outline
Jamie Hopkins: Retirement Planning And The Why That Makes You Cry (TAM Classic) show art Jamie Hopkins: Retirement Planning And The Why That Makes You Cry (TAM Classic)

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Jamie Hopkins discuss:  ROS - Return on Sleep From an accumulation to a decumulation mindset Living your retirement meaningfully  Changing your relationship with money    Key Takeaways:  People often don’t care about optimal, people care about being happy. Giving people a good retirement experience, a Return On Sleep, is better than giving optimal results.  Point your focus towards what you’re planning to work towards or what you want to acquire - accumulating money isn’t going to do you any good if you...

info_outline
You Already Own At Least 2 Annuities: Shootin' It Straight With Stan show art You Already Own At Least 2 Annuities: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The best inflation annuity on the planet.  The second annuity you already own  RMDs are an annuity payment    Key Takeaways:  Annuities that adjust for inflation offered by the private sector have their initial payments drastically lowered to make up for the index increase. You don’t need to get that because you already own the best inflation annuity on the planet: Social Security.  The second annuity you might already own is attached to your Individual Retirement Account. A 401k, 403b, or 457 are...

info_outline
Get Your Annuity Income Ducks in a Row: Shootin' It Straight With Stan show art Get Your Annuity Income Ducks in a Row: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What retirement is all about  The ducks that you may already have Annuity income ducks    Key Takeaways:  Retirement, or chapter two of your life, is the time that you need money hitting the bank account so that you can go live your life. This chapter is going to be all about you, about your lifestyle, and about reclaiming your health.  The first income duck you have is the best inflation annuity on the planet: Social Security. If you have a pension from a company or the government, that’s another income...

info_outline
Marcia Mantell: Cookin' Up Your Retirement Plan show art Marcia Mantell: Cookin' Up Your Retirement Plan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Marcia Mantell discuss:  The value of simplicity in understanding financial concepts Getting ready for the emotional aspect of retirement  The key to financial success in retirement  The importance of creating an estate plan    Key Takeaways:  If you can’t explain a concept or product simply to somebody who doesn’t live in your industry, then you don’t understand that concept or product enough.  You are going to retire someday, you have to be ready for not only the financial aspect but also the...

info_outline
Your Retirement Plan Is Not an Annuity Game: Shootin' It Straight With Stan show art Your Retirement Plan Is Not an Annuity Game: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The standard of a fiduciary Your retirement is not a game  Annuities as guarantees and as commodities   Key Takeaways:  Be wary of people in the annuity industry who sell one product to every type of person. In most cases, the product they’re selling is the highest commission product. The annuity you buy has to be aligned with the goal you want to set for chapter two of your life.  Some advisors look at annuities like it’s a game, thinking only about making the most amount of money by selling the most amount...

info_outline
Annuity Decisions Should Be Simple & Contractual: Shootin' It Straight With Stan show art Annuity Decisions Should Be Simple & Contractual: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Buying contractual guarantees  Keeping it simple with annuities Annuities that adjust for inflation   Key Takeaways:  Buy annuities only for their contractual guarantees. Don’t buy an annuity for hypothetical, theoretical, back-tested returns. Don’t buy an annuity for the upfront bonus.  Buy an annuity for what it will do, not what it might do.  Annuities are supposed to be simple. You should understand your annuity contract enough to be able to explain it to a nine-year-old.  Annuity companies...

info_outline
Andy Panko: Financial Planning Demystified and Unemotional (TAM Classic) show art Andy Panko: Financial Planning Demystified and Unemotional (TAM Classic)

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Andy Panko discuss:  How advisors should construct their fees  The complexity of decumulation  Making the plan as good as it can be Cryptocurrency is a lottery ticket    Key Takeaways:  The work isn’t linear to the asset size; advisors shouldn’t make more money just because assets go up. In the same way, advisors shouldn’t be paid less just because the markets go down. They’re still doing the same amount of work and providing the same services. Investment management, even good investment management, has...

info_outline
Annuities Will Do What You Contractually Need: Shootin' It Straight With Stan show art Annuities Will Do What You Contractually Need: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Don’t buy the dream  Backtested numbers are not guaranteed What an annuity is for    Key Takeaways:  Do not buy hypotheticals, dream sales pitches, or back-tested returns. Do not buy the annuity dream because you're going to own the contractual reality.  There’s no such thing as a “guaranteed and back-tested” return. To say that it’s back-tested means that there are no guarantees. Buy an annuity for what it will do, not what it might do.  If you want market returns, don’t buy an annuity of...

info_outline
Don’t Buy Annuity Hypothetical Returns: Shootin' It Straight With Stan show art Don’t Buy Annuity Hypothetical Returns: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Annuities are contracts  How Indexed Annuities should be used  Don’t buy an annuity for market returns    Key Takeaways:  To say that something is “guaranteed and backtested” means that there is nothing guaranteed at all. Annuities are contracts, buy them for what they will do and not what they might do.  Indexed Annuities have the potential to go down in value, but they can be used as an efficient delivery system for guaranteed lifetime income through an income rider attachment.  If you...

info_outline
 
More Episodes

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 much. 

  • People tend to overestimate our ability and desire to continue working and, often, retire earlier than they originally expected to. 

  • There is power in diversification in your income portfolios. 

  • The products under the annuity umbrella are incredibly varied. The type of annuity that is best for you depends on what your needs are. 

 

"If you're looking for something that will zig when your stocks zag, you probably want to ensure that your portfolio includes that cash and treasury bonds." —  Christine Benz

  

Connect with Christine Benz:

Website: https://www.morningstar.com/ 

Podcast: https://www.morningstar.com/podcasts/the-long-view  

LinkedIn: https://www.linkedin.com/in/christine-benz-b83b523/ 

Twitter: https://twitter.com/christine_benz 

Book: Morningstar’s 30 Minute Money Solutions: https://www.amazon.com/Morningstars-30-Minute-Money-Solutions-Step/dp/0470918136

Book: Morningstar Guide to Mutual Funds

https://www.amazon.com/Morningstar-Guide-Mutual-Funds-Strategies/dp/0470137533 

Christine’s Article Archive: http://www.morningstar.com/articles/author/30-christine-benz.aspx 

 

Reference: 

Open Social Security: http://opensocialsecurity.com/ 

 

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!