Stan The Annuity Man: The Annuity Man Predictions for 2024 (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
Release Date: 08/27/2024
Is It a Good Time to Buy an Annuity?: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: When is it a good time to buy an annuity? Are annuities for market growth? Annuity sales tactics to be wary of Key Takeaways: Annuities aren’t for everybody. If you need to transfer risk, need contractual guarantees, or solve for principal protection, income for life, legacy, or long-term care, then it’s a good time to buy an annuity. If your goal is market growth, then an annuity is not for you. Annuities are not market-growth products. When buying an annuity, you’re buying a contract,...
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Terry Savage: Chicken Money Is Still Tasty
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man and Terry Savage discuss: What is “chicken money”? Considering future crises in your financial plan Seeking trusted advisors Building an income floor Key Takeaways: Your “chicken money” is money that you can’t afford to lose. CDs, treasury bills, money markets, AAA municipal bonds, and MYGAs are suitable options. MYGAs and CDs are great for principal protection and tax deferral benefits. Focus on having an income floor and principal protection in retirement plans. It’s important to consider...
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3 Years in or 3 Years Out for MYGAs and CDs: Shootin' It Straight With Stan (TAM Classic)
“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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Lifetime or Interest Income?: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
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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Stan The Annuity Man: The Annuity Man Predictions for 2024 (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
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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Start Acting Annuity Rich (Wear a Suit!): Shootin’ It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
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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Automate Your Income: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
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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Sheryl Garrett: Financial Planning On YOUR Terms
“Fun With Annuities” The Annuity Man Podcast
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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The Older You Are, the Higher the Annuity Payment: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
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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Increase Your Annuity Income Floor As You Age: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
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...
info_outlineIn this episode, The Annuity Man discussed:
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Planning with simplicity
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Annuity products overview
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Consumer-focused future of annuities
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Tuning out the noise
Key Takeaways:
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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.
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Indexed annuities are going to keep getting pitched, and often through misleading and hyperbolic statements, by sales agents because of the high commission. Indexed annuities aren’t bad products, they are great delivery systems for lifetime income through the attachment of an income rider.
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Companies must realize the importance of putting consumers first and giving them the power to make the choices that they want to make through education and other helpful resources. Annuities should be bought and not sold, agents have the responsibility to make sure the client understands their contract fully.
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Tune out the noise of the media and look into your life instead. Think about things that matter to you, things that make you happy, and focus on making more time for that. Eliminate the things in your life that are not adding to your joy.
"If you're in chapter two of your life in retirement, I want you to maximize the day. I want you to start structuring your day for fun and for relaxation and for reflection." — 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!