25% Annuity Bonus…Is It Real?: Shootin' It Straight with Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
Release Date: 07/17/2024
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Locking in for three years and over The top three safest money When to go for CDs and treasuries Key Takeaways: Ask yourself how long you want to lock the money in for. MYGAs provide the highest contractual guarantee if it’s three years and over compared to CDs and treasuries. The safest money out of all three would be treasuries, the second safest money is CDs, and the third safest would be MYGAs. Buy treasuries only from treasurydirect.gov. If you’re going to lock in money for three...
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In this episode, The Annuity Man discussed: The right product for the right situation What is lifetime income? Income from interest Key Takeaways: An agent selling an annuity product as a one-size-fits-all product is like a doctor prescribing one medication for everyone. There is a right product for the right circumstance, and if a person doesn’t need an annuity, they shouldn’t be sold one. Lifetime income is a transfer of risk pension product that an annuity company is contractually obligated to pay as long as you or your spouse are...
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In this episode, The Annuity Man discussed: Planning with simplicity Annuity products overview Consumer-focused future of annuities Tuning out the noise Key Takeaways: Lifetime income is priced primarily on your life expectancy and interest rates play a secondary role in pricing. Shop all carriers for the highest contractual guarantee, don’t gamble your retirement on hypothetical and theoretical numbers. Seek simplicity in planning. Indexed annuities are going to keep getting pitched, and often through misleading and hyperbolic...
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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...
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In this episode, The Annuity Man discussed: Automating your income Establishing an automated income stream Reverse-engineering your income goal Key Takeaways: Automating your income is about creating more income floor to add to your lifetime income stream with Social Security which increases with inflation. This is where annuities come into play since that’s what they’re put on this planet to do. Establish a good lifetime income stream that will provide for your spouse or family. Keep it simple, and make it automated, so they wouldn’t have...
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In this episode, The Annuity Man and Sheryl Garrett discuss: The role of a financial planner How the industry should be Hiring the right planner Being aggressive with cash flow Key Takeaways: Many personal, financial, economic, and psychological things are coming together all at once. The planner’s role is to help clients see through all of that and reach out to the appropriate specialist when they need certain products or services fulfilled for the clients. Everybody has questions about their personal finances. People in the industry should...
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In this episode, The Annuity Man discussed: Claiming your social security You can’t time annuities Three phases of retirement Key Takeaways: Social security payments get higher if you wait until 70 because you’re older which means that your life expectancy is less, meaning that there are fewer projected payments. Fewer payments mean that those payments will be higher. It’s simple, but that doesn’t mean that that is always the better choice. You can’t time it with annuities, you can’t time it with lifetime income. Annuities are priced...
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In this episode, The Annuity Man discussed: Creating a solid income floor for retirement Considering your income Many ways to create income Key Takeaways: Going into chapter two of your life, you have to do your own thing. Stop keeping score. You’ve already won the game, you already have enough money, so why are you still playing? It’s important to have non-correlated income sources for your retirement such as pensions, rental properties, and annuities in order for you to create a solid income floor that’s not affected by market...
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In this episode, The Annuity Man and Rick Ferri discuss: Outperforming 90% of investors Developing a simple portfolio Five ways to improve your portfolio Facing the risks Key Takeaways: Investing is not as difficult as others would have you believe. The best way to invest is to keep things simple; the fewer moving parts, the better. Develop a simple portfolio that will hold four funds, two stock funds, and two bond funds. The bond funds have to be some fixed income type of allocation, while on the stock side, you do a stock market index fund...
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In this episode, The Annuity Man discussed: Not everyone needs to be exposed Bonds and market volatility Looking into lifetime income Questions to ask your advisor Key Takeaways: Financial advisors tend to advise their clients to do 60% equity and 40% bond split or that they always have some exposure, but it doesn’t apply to everybody. People who’ve won the game don’t have to keep playing. Bonds aren’t fool-proof; they go down in value if interest rates go up. If you’ve already accumulated enough to live the life you want and...
info_outlineIn this episode, The Annuity Man discussed:
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Bonuses are not the true benefits
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Unethical practices that rush an annuity sale
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Focus on what really matters
Key Takeaways:
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Upfront bonuses are merely a part of the contract rather than the true benefits they seem to be. Focus instead on the lifetime income guarantee, on the financial stability and predictability an annuity can offer.
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Agents sometimes tout bonuses rather than clarify the long-term financial implications of the annuity in order to close a deal. It is unethical and in some cases, could even cross the line into being illegal.
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Look past the smoke and mirrors of upfront bonuses and instead, search for the annuity with the highest contractual guarantee. These guarantees are what will determine the annuity's genuine value over the course of your retirement.
"The only number that matters is the lifetime income guarantee that the company is backing up. All of the bonuses are just shiny things - candy for the stupid. Don't be that person. " — Stan The Annuity Man.
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