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Pam Krueger: The Best Wealthramp on How to Roll Your 401K or IRA

“Fun With Annuities” The Annuity Man Podcast

Release Date: 10/08/2024

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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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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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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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In this episode, The Annuity Man discussed:  Annuity marketing gimmicks  The complexity of Indexed Annuities  What annuities are for    Key Takeaways:  Bonuses for annuities are marketing gimmicks and provide no real value. Contractual guarantees are the most important aspect of annuities. Indexed annuities are complex products with components like caps, spreads, and participation rates that limit upside gains. These components can change annually, making the product difficult to understand. Annuities are designed for risk transfer through...

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“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and Pam Krueger discuss:  Finding fiduciary financial advisors  Customizing an annuity according to your goal  Rejecting pushy pitches from agents  Avoiding costly mistakes through education    Key Takeaways:  Seek independent, fee-only, fiduciary advisors focused solely on your interests, not commissions or product sales.  Avoid one-size-fits-all annuity recommendations; annuities should be evaluated based on individual needs and financial situations. Take advantage of the one-year do-not-solicit period...

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In this episode, The Annuity Man discussed:  Pragmatic approach to financial planning How annuities are primarily priced Four primary benefits of annuities  Closing the gap with annuities   Key Takeaways:  Prepare for either party leadership scenarios to ensure financial stability. Approach financial planning with a pragmatic mindset, always employing the use of research and contractual guarantees.  Life expectancy drives lifetime income from annuities. Annuities are commodity products, and their guarantees change based on market conditions and demand. If...

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In this episode, The Annuity Man discussed:  How different your life could be with more money  Retiring from work and the markets Investing safely and smartly  Living off of guarantees    Key Takeaways:  People in the news and most financial advisors will tell you always to keep money in the markets, but you have to ask yourself this: will more money make your life any different?  If you love the ups and downs of the markets and treat it like a passion or a hobby, then it’s alright to stay in it, but most people out there should be retiring...

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In this episode, The Annuity Man discussed:  Lifetime income and principal protection  Return of your money  Peeling of the interest to solve income needs    Key Takeaways:  Annuities aren’t only for lifetime income, some products just protect the principal like a MYGA or a Fixed Annuity.  With lifetime income, annuity companies are on the hook to pay a return OF your principal plus interest as long as you are breathing.  Will peeling off the interest, never touching the principal, and getting a return ON your money solve your income...

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In this episode, The Annuity Man and Pam Krueger discuss: 

  • Finding fiduciary financial advisors 

  • Customizing an annuity according to your goal 

  • Rejecting pushy pitches from agents 

  • Avoiding costly mistakes through education 

 

Key Takeaways: 

  • Seek independent, fee-only, fiduciary advisors focused solely on your interests, not commissions or product sales. 

  • Avoid one-size-fits-all annuity recommendations; annuities should be evaluated based on individual needs and financial situations.

  • Take advantage of the one-year do-not-solicit period after rolling over a 401(k) to an IRA to avoid urgent pitches from agents pushing specific products.

  • Thoroughly educate yourself, analyze the product, and seek a second opinion before committing large sums to annuities to avoid costly mistakes.

 

"People know when they're looking for advice, they want a fiduciary. They want someone who's fee-only because they want someone who works only for them, not someone who sells insurance or sells mutual funds" —  Pam Krueger

 

Connect with Pam Krueger:

Website: https://wealthramp.com/ | https://www.pamkrueger.com/ 

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

Twitter: https://twitter.com/PamkruegerTV 

 

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!