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

“Fun With Annuities” The Annuity Man Podcast

Release Date: 03/27/2024

MYGA-2-SPIA for Full-Control Annuity Income: Shootin' It Straight With Stan show art MYGA-2-SPIA for Full-Control Annuity Income: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:  What a MYGA and SPIA is  MYGA to SPIA Strategy  Flexibility and Control    Key Takeaways:  MYGA is the annuity industry's version of a CD, offering locked-in, non-callable interest rates annually. SPIA is the original lifetime income annuity, with a long history dating back to Roman times and used for pension payments. Use a MYGA to lock in a guaranteed interest rate for a specific duration, such as five years then take out interest or up to 10% penalty-free, depending on the specific MYGA. At the end of the...

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“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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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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“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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“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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“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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“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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More Episodes

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 duck as well. Legacy stocks and triple-A municipal bonds that pay tax-free income are also income ducks.

  • Immediate Income Annuities, Deferred Income Annuities, and Qualified Longevity Annuity Contracts are all lifetime income products. Multi-Year Guarantee Annuities where you can just peel off interest and not touch the principal are also annuity income ducks. 

 

"The mother duck is Social Security. Pension payments, annuity type payments, bond payments, CD payments, Multi-Year Guarantee Annuity interest payments, those types of things are the ducks behind them." —  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!