Gap Filling Income Strategies Before Social Security: Shootin' It Straight With Stan
“Fun With Annuities” The Annuity Man Podcast
Release Date: 02/26/2025
Planning Lifetime Income for Your Spouse: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Annuities for your spouse and loved ones Throwing darts at death Planning for cognitive decline Filling in financial gaps Key Takeaways: Using a trust, you can set up an immediate annuity purchase to trigger when you pass away to provide lifetime income for your spouse using a designated lump sum. You can use annuities to lovingly handcuff your young beneficiaries, providing them with guaranteed income instead of a lump sum. Buying an income rider, deferring it out, and setting it up as a...
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Ventilator Annuity Lifetime Income: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Solving for longevity risk Four products for lifetime income Focusing on guarantees Key Takeaways: There is no ROI until you die. Up until then, it’s a transfer of risk to the annuity company to solve for longevity risk. The longevity risk is the fear that you’ll outlive your money. An annuity will pay as long as you’re breathing, even if you are on a ventilator. The annuity industry has four major types: Single Premium Immediate Annuities, Deferred Income Annuities, Qualified Longevity...
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Push Comes to Shove Annuities: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Annuities with a push-comes-to-shove feature Advantages of liquidity Balance between potential and liquidity Why flexibility matters in annuity planning Meeting diverse financial needs through annuity design Key Takeaways: Certain annuity products, such as the MYGA (Multi-Year Guaranteed Annuity), fixed-rate annuity, and CD annuity, offer a liquidity option known as the "push-comes-to-shove" feature, allowing penalty-free withdrawals in case of emergencies. The "push-comes-to-shove" feature in...
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Annuity Companies Are Not Smarter Than Banks: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Annuity companies are more regulated than banks Features that protect the annuity industry There is no run on annuities How the banking crisis will affect the annuity industry Key Takeaways: Annuity companies are more regulated than banks, with features like surrender charges and market value adjustments that prevent runs on the company. Annuity companies are required to invest in investment-grade bonds, providing stability, unlike banks that had to sell bonds during the recent crisis. ...
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Annuity Light Switch Income Guarantees: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: Why would you want to stop taking in income? Three types of irrevocable lifetime income teams Light-switch Annuity Products Key Takeaways: There a myriad reasons why you would want to stop taking income, and there are annuity reasons that allow for this. One reason could be if tax laws change in the future and you want to shut down the income stream to not getting taxed, or when you want the income to accumulate for your death benefit. The three types of irrevocable income lifetime income streams are Single...
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Scars of Scarcity: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The fear of running out of money Solving the fear of running out Is FORO more important the FOMO? Using math to address FORO Key Takeaways: Most of us didn’t grow rich. We saw what it was like to live in scarcity, and today, many of us still carry those scars. Despite having millions or a portion of that, some people might still feel poor and fear running out of money. If you’re worried about running out of money or won’t have enough in your retirement, consider looking into strategies...
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Keep Your Powder Dry Annuity Income Planning: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The value of annuities for lifetime income planning Laddering strategy with annuities Placing an annuity inside a trust Key Takeaways: When it comes to planning for lifetime income, annuities can be a valuable tool. However, it's essential to approach annuities with strategies that allow for flexibility and the ability to adapt to changing circumstances. By purchasing multiple annuities with different start dates, you can create a steady stream of income that aligns with your needs over time. This...
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Avoiding Common Pitfalls With Annuity Purchases: Shootin’ It Straight With Stan (TAM Classic)
“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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Comparing Index Annuity Income Riders and DIAs: Shootin’ It Straight With Stan (TAM Classic)
“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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Keep Your Powder Dry Annuity Income Planning: Shootin' It Straight With Stan (TAM Classic)
“Fun With Annuities” The Annuity Man Podcast
In this episode, The Annuity Man discussed: The value of annuities for lifetime income planning Laddering strategy with annuities Placing an annuity inside a trust Key Takeaways: When it comes to planning for lifetime income, annuities can be a valuable tool. However, it's essential to approach annuities with strategies that allow for flexibility and the ability to adapt to changing circumstances. By purchasing multiple annuities with different start dates, you can create a steady stream of income that aligns with your needs over time. This...
info_outlineIn this episode, The Annuity Man discussed:
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Gap Filling and Annuity Options:
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Social Security Timing and Considerations:
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Balancing Emotional and Financial Well-being:
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Flexibility and Lifetime Guarantees with Annuities:
Key Takeaways:
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You need to find ways to cover your income needs before Social Security kicks in, typically from ages 62 to 70. Consider using strategies like Single Premium Immediate Annuities (SPIAs) or Multi-Year Guarantee Annuities (MYGAs) to provide contractual income during this gap. SPIAs pay a guaranteed income for a specific term, while MYGAs offer a fixed interest rate with the potential to preserve your principal.
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When deciding whether to take Social Security at age 65 or 70, consider your personal circumstances. Factor in the payments you'll miss while waiting for a higher payout and how long it will take to recoup those amounts. Think about living for the present and enjoying your money now rather than solely focusing on maximizing every penny.
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Reflect on the emotional and lifestyle aspects of your financial planning. Prioritize your personal happiness and well-being by doing things for yourself and living life to the fullest. Stan encourages turning on the lifetime income stream sooner rather than later, especially if you've spent a lifetime scrimping and saving.
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Use annuities to provide both lifetime guarantees and gap-filling strategies. Explore these options based on your specific needs and circumstances to bridge the gap between now and when Social Security kicks in. Consider both period certain Immediate Annuities for guaranteed income over a specific term and MYGAs for interest income while preserving your principal.
"If it sounds too good to be true, it is. Every single time. There are limitations to every strategy. You just have to weigh the good and the bad to see if it makes sense." — Stan The Annuity Man.
Connect with The Annuity Man:
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Email: [email protected]
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