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

“Fun With Annuities” The Annuity Man Podcast

Release Date: 03/12/2024

Enhancing Your Retirement Plan With Annuities: Shootin’ It Straight With Stan show art Enhancing Your Retirement Plan With Annuities: Shootin’ It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What annuities are for  Establishing an income floor  How to actually adjust for inflating needs  Securing an income stream through annuities    Key Takeaways:  Annuities provide contractual guarantees for principal protection, lifetime income, legacy, and long-term care (PILL acronym), offering advantages over market investments focused solely on growth. Prioritize establishing an income floor or guaranteed income stream, particularly through fixed annuities, to cover essential expenses in...

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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...

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Hidden Truths & Facts About Fixed Index Annuities: Shootin’ It Straight With Stan show art Hidden Truths & Facts About Fixed Index Annuities: Shootin’ It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Why are Indexed Annuities sold in a misleading way?  Indexed Annuities are not growth products  What annuities are for    Key Takeaways:  Because Indexed Annuities are a high-commission product for agents, they are often promoted in a misleading manner, obscuring their true nature and limitations. Indexed Annuities are not growth products, they are designed for principal protection, CD-type returns, and Income Riders. Indexed Annuities lack dividends, limiting their potential for growth. When it comes to...

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Stan The Annuity Man: New Realities of Annuity Recommendations show art Stan The Annuity Man: New Realities of Annuity Recommendations

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The Annuity PILL Choosing an annuity carrier Putting the client’s best interest first The future of the annuity industry   Key Takeaways:  The acronym PILL stands for Principal Protection, Income for life, Legacy, and Long-term care. If you don’t need to contractually solve for one or more of those items in the PILL, then you don’t need an annuity of any type. Never buy an annuity for market growth.  Once you’ve determined what you want the money to contractually do and when you want the guarantees to start,...

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Strategic Retirement Planning Using Annuities: Shootin’ It Straight With Stan show art Strategic Retirement Planning Using Annuities: Shootin’ It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The Annuity PILL The best inflation annuity  Annuities are a transfer of risk   Key Takeaways:  Annuities provide lifetime income, principal protection, legacy planning, and long-term care benefits. If you’re not solving for any of those, then you don’t need an annuity.  Social Security is the best inflation annuity and you can use it along with pensions to establish an income floor.  Annuities offer contractually guaranteed solutions by transferring risk to insurance companies. "Remember that...

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Tailoring Fixed Index Annuities to Your Specific Goals: Shootin’ It Straight With Stan show art Tailoring Fixed Index Annuities to Your Specific Goals: Shootin’ It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The purpose of Fixed Index Annuities  Buying only for contractual guarantees  Why some agents oversell Index Annuities  Understanding contractual guarantees    Key Takeaways:  Fixed Index Annuities are designed for principal protection and lifetime income, not market growth.  Buy annuities only for contractual guarantees not for upfront bonuses or agent projections. Index Annuities are complex products often oversold by agents for high commissions. Buyers should thoroughly understand...

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Steve Parrish: Why QLACs Will Rival Roth IRA Popularity show art Steve Parrish: Why QLACs Will Rival Roth IRA Popularity

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Steve Parrish discuss:  What are QLACs?  Transferring longevity risks  Creating a secure income floor in retirement  How annuities are priced    Key Takeaways:  QLACs (Qualified Longevity Annuity Contracts) are a pro-consumer annuity product that allows transferring longevity risk by using IRA assets for lifetime income guarantees via insurance companies. Longevity risks require pooling mortality credits via longevity annuities from highly-rated carriers to ensure lifelong income. QLACs provide a secure...

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“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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Fixed Annuities Explained: Which One Is Right for You?: Shootin’ It Straight With Stan show art Fixed Annuities Explained: Which One Is Right for You?: Shootin’ It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  Transferring risk through annuities  The annuity PILL  Annuities are for guarantees and not growth    Key Takeaways:  Fixed Annuities provide lifetime income by transferring longevity risk to insurance companies. They offer over 40 different structures, such as life/joint life with cash/installment refund. Buy annuities only if your goal is any of these: principal protection, lifetime income, legacy options, and long-term care coverage. Annuities are contracts. They are bought for contractual guarantees...

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Jack Lenenberg: New LTC Product to Disrupt the Industry show art Jack Lenenberg: New LTC Product to Disrupt the Industry

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Jack Lenenberg discuss:  Annuities and long-term care  The three primary types of long-term care coverage  Tailored long-term care  Planning for the future    Key Takeaways:  Annuities provide principal protection, lifetime income, legacy planning, and long-term care coverage for uninsurable individuals. Long-term care insurance providers offer cash indemnity benefits without requiring receipts for paid caregivers. The three primary types of long-term care coverage are traditional standalone long-term care...

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More Episodes

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 become increasingly cheap, easy, and commoditized to do and do well. Decumulation is much more complex. 

  • Try to make the plan as good as it can be initially, accounting for unpredictable events. So try to structure your plan as best as possible to account for times of distress. Get all things working cohesively - it’s not just investments, insurance, real estate - it’s everything, including guaranteed lifetime income. 

  • Cryptocurrency has zero intrinsic value. Its value is 100% on simple auction market pricing; it’s only worth as much as what someone is willing to pay for it. You can invest a small portion into it, but only if you’re comfortable that the value could go to zero. Treat it like a lottery ticket. 

 

"Most people can do accumulation well; it’s the decumulation where things get a little more tactical and complicated…" —  Andy Panko.

 

Connect with Andy Panko:

Website: https://tenonfinancial.com/ 

Facebook: https://www.facebook.com/tenonfinancial 

YouTube: https://www.youtube.com/retirementplanningdemystified 

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

Twitter: https://twitter.com/tenonfinancial 

 

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 

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