“Fun With Annuities” The Annuity Man Podcast
Fun With Annuities® Podcast is hosted by America’s Annuity Agent, Stan The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle. Listen in on how you can be livin’ the reality, not the dream.
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Annuity Income: Return OF or ON Your Money?: Shootin' It Straight With Stan (TAM Classic)
09/18/2024
Annuity Income: Return OF or ON Your Money?: Shootin' It Straight With Stan (TAM Classic)
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 needs? MYGAs give you the option to lock in interest rates for one year up to ten years. "If you choose the return ON then all we're going to have to do at the end of the maturity of that MYGA is roll it to another MYGA and hope that rates are at a good level. If rates go down, we can always transfer that [MYGA] to an immediate annuity for lifetime income. So you can play both sides a little bit." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Is It a Good Time to Buy an Annuity?: Shootin' It Straight With Stan (TAM Classic)
09/11/2024
Is It a Good Time to Buy an Annuity?: Shootin' It Straight With Stan (TAM Classic)
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, which means you’ll own it for what it will do, not what it might do. Don’t buy an annuity because someone promised “market upside with no downside”, “principal protection with market participation”, or that they’ll give you an upfront bonus. These common sales tactics mislead the buyer into buying the dream but owning a contractual reality far from what was pitched. "Is it a good time to buy an annuity? The answer to that is, do you need to transfer risk? Do you need contractual guarantees? Do you need to solve for principal protection? Income for Life legacy or long term care?" — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Terry Savage: Chicken Money Is Still Tasty
09/10/2024
Terry Savage: Chicken Money Is Still Tasty
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 possible future financial crises and plan for them, regardless of political outcomes. Social Security is a primary source of retirement income. Seek trusted financial advice from fiduciaries who fully disclose costs and operate on a fee-only basis. See to it personally that you are able to customize your financial plan according to your goals. Have an income floor to protect yourself against market fluctuations and ensure financial stability. Social Security is a strong foundation for retirement income. Build on it with guaranteed products. Consider both the short-term and the long-term in your financial plan. "Chicken money, by definition, is money you cannot afford to lose, and as such, it belongs in things like short-term CDs, treasury bills." — Terry Savage Connect with Terry Savage: Website: YouTube: LinkedIn: Twitter: Facebook: New Book Link: Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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3 Years in or 3 Years Out for MYGAs and CDs: Shootin' It Straight With Stan (TAM Classic)
09/04/2024
3 Years in or 3 Years Out for MYGAs and CDs: Shootin' It Straight With Stan (TAM Classic)
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 years and in, the better option would be to go for CDs and treasuries because if it’s less than three years, MYGAs historically will not provide the highest contractual guarantee. "Three years and in CDs and treasuries three years and out multi-year guarantee annuities." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Lifetime or Interest Income?: Shootin' It Straight With Stan (TAM Classic)
08/28/2024
Lifetime or Interest Income?: Shootin' It Straight With Stan (TAM Classic)
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 still breathing. It is priced primarily on your life expectancy, and interest rates play a secondary role. A multi-year guaranteed annuity is the annuity industry’s version of a CD. You can purchase a MYGA, never touch the principal, never pay a fee, just peel off interest, and then live off that. "with annuities at this point in time at the time of this taping, and I hope it continues. You have two choices: lifetime income or interest income - it's all about money coming in establishing that income floor. " — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: YouTube: Get a Quote Today:
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Stan The Annuity Man: The Annuity Man Predictions for 2024 (TAM Classic)
08/27/2024
Stan The Annuity Man: The Annuity Man Predictions for 2024 (TAM Classic)
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 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. 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. 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: Email: Book: : YouTube: Get a Quote Today:
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Start Acting Annuity Rich (Wear a Suit!): Shootin’ It Straight With Stan (TAM Classic)
08/21/2024
Start Acting Annuity Rich (Wear a Suit!): Shootin’ It Straight With Stan (TAM Classic)
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 leave scars in the mind of a person. People with the scars of scarcity tend to be needlessly cautious about spending a little extra money on things like food, travel, or other things. Inflation affects those who are on the low end of the country. If you are rich and worried about inflation, then you are not doing the math. A hike in the price of gas or eggs isn’t going to affect you; it’s going to affect the other 60% of people in America. With annuities, you can set things up contractually so that there’s a lifetime income stream that you can never outlive, or you can just live off the interest and never touch the principal. "I need you to start acting rich. Put that team of advisers around you because you are rich, whether you think you are or not. Start acting a little bit more annuity rich, meaning put guarantees in place so you can go live your life and not worry about it." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Automate Your Income: Shootin' It Straight With Stan
08/14/2024
Automate Your Income: Shootin' It Straight With Stan
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 to worry about a single thing when you’ve either passed or reached a decline in your cognitive faculties. By reverse-engineering your income goal, you can solve for the least amount of money you’ll need to solve for that income goal contractually. Don’t worry about inflation, focus on computation and guarantees. "Automate your income so you don't have to worry about that monthly income. Now that you need to, you can just go live your life." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Sheryl Garrett: Financial Planning On YOUR Terms
08/13/2024
Sheryl Garrett: Financial Planning On YOUR Terms
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 be working towards making it easier for people to understand finances. Don’t hire anybody with disciplinary issues on their records. There are plenty of people to pick that don’t have any on the record. Make sure the person you’re talking to is working as a fiduciary. We need to be aggressive about our cash flow. Aggressive, conscious of where our money is going, where it’s coming from, and how it will move in the future. "We’ve been trained to go get a second opinion if we have a significant medical issue come up, but why in the world do we not get a second opinion if we’re getting ready to make a decision as significant as retirement." — Sheryl Garrett. Connect with Sheryl Garrett: Website: LinkedIn: Twitter: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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The Older You Are, the Higher the Annuity Payment: Shootin' It Straight With Stan (TAM Classic)
08/07/2024
The Older You Are, the Higher the Annuity Payment: Shootin' It Straight With Stan (TAM Classic)
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 primarily based on your life expectancy. However, this doesn’t mean that you should wait until you are seventy before you get a lifetime income. There are three phases of retirement: go-go, slow-go, and no-go. Go-go when you are still rolling, slow-go is when you start to feel slow down, and no-go is when you have severely decreased physical and mental faculties. Make your decisions based on what phase you’re in and what your goal is. "There are no sweet spots with annuities. There's no arbitrage moment with annuities. The older you are, the higher the payment for lifetime income when you're looking at life to make them it's that simple." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Increase Your Annuity Income Floor As You Age: Shootin' It Straight With Stan (TAM Classic)
07/31/2024
Increase Your Annuity Income Floor As You Age: Shootin' It Straight With Stan (TAM Classic)
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 fluctuations. Factor in how much income you need in your retirement, what you want to do with your money, how you want the money to work, what kind of risks you want to shoulder, and what risks you want to transfer. Interest rates are at a point at the time of this taping where people can protect the principal and take interest off of the top. This way, you’ll create your income floor without putting your capital at risk. "If there's a gap in your floor, what are you going to do? You're not just going to leave the gap, right? If you have a gap in your income floor, you're going to fill it. You're going to fill it with as little amount of putty or fake wood as you can. With annuities, you do the same thing." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Rick Ferri: Core-4 Portfolios for Simplistic Success (TAM Classic)
07/30/2024
Rick Ferri: Core-4 Portfolios for Simplistic Success (TAM Classic)
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 and a total international fund. Are you going to be active or passive? Select a portfolio strategy. Determine whether you’re going to be aggressive or conservative and assess if you need a higher rate of return and if you can handle high volatility. In bad times, remember that “this too shall pass.” Investing doesn’t come without risk. Everything in life has risks. Even burying your money has a risk; inflation will eat away at its value. It’s better just to face the risk. "The idea is simplicity. Be simple, be low-cost, be consistent, stay the course, be tax-efficient." — Rick Ferri. Connect with Rick Ferri: Website: Facebook: LinkedIn: Twitter: Books: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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You Already Won! Why Are You Still Playing?: Shootin' It Straight with Stan (TAM Classic)
07/24/2024
You Already Won! Why Are You Still Playing?: Shootin' It Straight with Stan (TAM Classic)
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 don’t want to tie yourself into any risks or volatility, then don’t. You have that option. If peeling off the interest rate isn’t an option for you, then why not look into lifetime income? You can structure your annuity where your money doesn’t have to go to the annuity company when you die. There are so many ways you can structure the contract in a way that achieves your goals. Advisors get paid assets under management, which is why they want you to dip into the market. Ask your advisor if you have enough money to live off. From a fiduciary standpoint, they’ll have to look at the money and tell you honestly if you are able to do that. "Plan for when you win the game to stop playing the game. Look up at the scoreboard; you won!" — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube:
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25% Annuity Bonus…Is It Real?: Shootin' It Straight with Stan (TAM Classic)
07/17/2024
25% Annuity Bonus…Is It Real?: Shootin' It Straight with Stan (TAM Classic)
In this episode, The Annuity Man discussed: Bonuses are not the true benefits Unethical practices that rush an annuity sale Focus on what really matters Key Takeaways: 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. 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. 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. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Jason Fichtner: Understanding A Changing Retirement Landscape (TAM Classic)
07/16/2024
Jason Fichtner: Understanding A Changing Retirement Landscape (TAM Classic)
In this episode, The Annuity Man and Jason Fichtner discuss: Preparing for depletion Preaching to a hurricane Maximizing returns and minimizing risks The real danger zone Key Takeaways: There’s going to be depletion in combined trust funds in 2024. In response to this, you can delay claiming your social security until you absolutely need it, you can also save a little more - do anything to minimize the risk. People want a personal pension and a guaranteed paycheck for life, but they don’t want an annuity. That’s absurd, because that’s exactly what an annuity is and people have it already in the form of social security, because it’s such a good thing, they would want to have another one. We’ve trained people to be good investors, in that they must always ask how they can maximize returns. But there is no ROI in retirement, not until you die, so we need to keep talking about how minimizing the risks with annuities is the best way to go. The danger zone is complacency. We need to keep reframing and educating people on the truth about retirement and finances. People right now are not too crazy for annuities, and that’s not a good thing - because that means that it’s not being represented factually. "In retirement, we're not trying to maximize returns, we're trying to minimize risks - ensure that I have enough income to last for the rest of my life." — Jason Fichtner The Peak 65 Generation: Creating A New Retirement Security Framework: Connect with Jason Fichtner: Website: | Email: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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Understanding Annuity Payout Options - Shootin' It Straight with Stan (TAM Classic)
07/10/2024
Understanding Annuity Payout Options - Shootin' It Straight with Stan (TAM Classic)
In this episode, The Annuity Man discussed: Annuities are customizable An example of life with cash refund What does it mean to get a joint-life policy Options and choices when getting an annuity Key Takeaways: A life-only contract means that the annuity company is on the hook to pay as long as you’re breathing, but the money goes away when you die. Life with cash refund means that you get paid while you’re alive, with some money going to your beneficiary when you die. A joint life policy means that you and your spouse will receive payments. When you die, their income continues uninterrupted and unchanged. There’s not just one annuity, there are many kinds, and there are also a lot of options when customizing your contract. "I want you to understand what you’re buying and how it works ‘cause remember, an annuity is a contract" — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube:
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Live off the Interest Until You Can’t: Shootin’ It Straight With Stan (TAM Classic)
07/03/2024
Live off the Interest Until You Can’t: Shootin’ It Straight With Stan (TAM Classic)
In this episode, The Annuity Man discussed: What does it mean to live off the interest? Living off guaranteed interest When interest rates go down If you can’t live off of the interest Key Takeaways: At the time of this taping, some money markets are 4, some CDs at five, and some MYGAs at five and a half. A lot of you out there have enough funds that whatever interests you can take off of those products is sufficient, and you never have to touch the principal. There's no guaranteed return with index annuities, variable annuities, or buffer annuities. That doesn’t mean they’re bad products, but if you can live off of a guaranteed interest, why not do that? When you lock in at a certain interest, it doesn’t matter if the interest rates go down in the market - you’ll benefit from what is contractually guaranteed. Suppose we can prove mathematically that we can’t hit your goal from living off of the interest. In that case, that’s when we’ll look for contractual guarantee products for lifetime income because they’ll provide a higher payback of your money. "You're going to ride that peeling off the interest as long as you can. You're gonna ride that train of never touching the principal and never paying a fee as long as you can, and if rates go down, then we will pivot " — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: YouTube: Get a Quote Today:
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John Olsen: Annuity Royalty Shares Wisdom (TAM Classic)
07/02/2024
John Olsen: Annuity Royalty Shares Wisdom (TAM Classic)
In this episode, The Annuity Man and John Olsen discuss: The suitability approach and consumer trust How the annuity industry can be better Approaching people who hate annuities Risk management and risk transfer Key Takeaways: There is a considerable certainty that companies out there are determined to give the right product to their clients. If you’re looking for a solution for your client, the agent should be able to show 3-10 companies that could get the client what they want and need. Improving your knowledge of annuities as an agent is simple: read the contract. Don’t rely on the marketing material, read the hard words. Here’s what you can do with risks: you either assume it, remove it, reduce it, or transfer it. Annuity allows you to transfer risks. "These are investments to a degree, but most annuities are risk management tools. There are a few things you can do with risks: assume it, remove it, reduce it, or transfer it… Transfer the risk, that’s what annuities do. Fixed annuities are all about guarantees." — John Olsen Check out John Olsen’s books here: Connect with John Olsen: Website: LinkedIn: Facebook: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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Defer 2 SPIA (MYGA-2-SPIA): Shootin' It Straight With Stan (TAM Classic)
06/26/2024
Defer 2 SPIA (MYGA-2-SPIA): Shootin' It Straight With Stan (TAM Classic)
In this episode, The Annuity Man discussed: What are MYGAs and SPIAs? Annuities are contractual commodities MYGA to SPIA Key Takeaways: A MYGA, Multi-Year Guaranteed Annuity, is the annuity industry's version of a CD. The good news about MYGAs is that the interest rate is locked in and non-callable. This means that when interest rates go down, you’re going to be locked in. Annuities are contractual commodities, meaning that when you're buying them for the contractual guarantees, you can shop all carriers for the highest contractually guaranteed payout for your specific situation based on how you structure them. Through MYGAs, you can protect the principal, peel off interest, and retain liquidity. After the duration of the MYGA, we can then shop all SPIA carriers and transfer the MYGA to the SPIA. "You can have your cake and eat it too, you can protect the principle, you can peel off interest if needed during that duration of the MYGA, and at the end of that term, you have full control of the asset." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Annuity Fancy or Annuity Contractual?: Shootin’ It Straight With Stan
06/19/2024
Annuity Fancy or Annuity Contractual?: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: The four main concerns that annuity addresses Why you should stay away from fancy annuities Things to consider when buying annuities Key Takeaways: Annuity contracts are designed to address four key concerns: principal protection, lifetime income, legacy planning, and long-term care. However, not all annuities are created equal. Fancy annuities often come with a host of fees and complicated rules that can make them difficult to understand and manage. On the other hand, contractual annuities offer the same guarantees without the added complexity, providing the peace of mind and financial security you need without the headaches. When considering an annuity, it's essential to weigh your options carefully and choose a product that aligns with your goals and values. By opting for a contractual annuity, you can enjoy the benefits of principal protection, lifetime income, legacy planning, and long-term care, all while keeping things simple and easy to understand. "I used to work with Dean Witter, Morgan Stanley, Paine Webber, UBS, where that was market-driven stuff. If you're going to be fancy, be fancy over there because you have real possibilities of real returns. With annuities, they're contracts. Never forget that. You cannot have your cake and eat it too." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Dana Anspach: Juicing Your Retirement Plan (TAM Classic)
06/18/2024
Dana Anspach: Juicing Your Retirement Plan (TAM Classic)
In this episode, The Annuity Man and Dana Anspach discuss: Juicing your retirement money How can you know if you’re “retirement-ready” What are some things you have to consider when setting up your retirement plan The four percent rule Key Takeaways: Don’t underestimate what more you can juice from your retirement plan. You might very well end up with hundreds of thousands of dollars by the end of it. You need to know what the risk factors are in the decumulation phase. Calculating the bigger picture of your retirement will help you make decisions that increase your probability of success and have peace of mind in the future. The reality is that you can’t spend just a solid percentage in your retirement fund, there are circumstances that would have to be accounted for - like needing to buy a car or having a health issue in the family. "People are so focused on accumulating assets, which is relatively easy compared to the math you have to solve when you start drawing money out.” — Dana Anspach Connect with Dana Anspach: Website: | Facebook: Podcast: LinkedIn: Twitter: | Books: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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Annuity Contractual Guarantees Change Lives: Shootin’ It Straight With Stan
06/12/2024
Annuity Contractual Guarantees Change Lives: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: Annuity solutions to retirement problems The four things that annuities solve for How annuities can give peace of mind, flexibility, and freedom Key Takeaways: Retirement can be a daunting prospect, with the uncertainty of how long your savings will last and the fear of running out of money. However, annuities offer a solution to these concerns by providing contractual guarantees. Annuities can solve for principal protection, ensuring that your initial investment is safe. They also provide income for life, allowing you to have a steady stream of income throughout your retirement years. Additionally, annuities can help leave a legacy for your loved ones and even cover long-term care expenses. By creating an income floor with annuities, retirees can have peace of mind knowing that their basic expenses are covered. This allows for greater flexibility and freedom in spending during retirement. "Contractual guarantees matter, and contractual guarantees change lives." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Annuity Doublers Gives Your Money Back Quicker When You Get Sicker: Shootin’ It Straight With Stan
06/05/2024
Annuity Doublers Gives Your Money Back Quicker When You Get Sicker: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: What annuity doublers refer to The true story of annuity doublers Key Takeaways: Annuity “doublers” isn’t as lucrative as it seems. You become eligible for enhanced payment if you are found to be unable to do the five daily functions of life. The additional value given in enhanced payments is subtracted dollar for dollar from the accumulation value. So in essence, you’re not getting increased payments, you’re just getting your money back quicker as you get sicker. When considering buying annuities remember that insurance companies will never give away money for free. If an agent’s pitch sounds too good to be true, it is every single time. "You should never ever buy a lifetime Income Rider for the doubler because all that means is when you get sicker, you get your money back quicker." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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David Blanchett: Retirement Income Investing in a Low-Yield World (TAM Classic)
06/04/2024
David Blanchett: Retirement Income Investing in a Low-Yield World (TAM Classic)
In this episode, The Annuity Man and David Blanchett discuss: People’s irrational preference A gap between perceived and actual ability Is cryptocurrency going to last? Investing when there are low yields Key Takeaways: In theory, people should be indifferent between spending down their portfolio and living off of it - but investors aren’t always rational, they have a strong preference towards not depleting their portfolio, and they want to live off of the income. As you age, your probability of making a poor decision increases. At the same time, the gap increases between your perceived ability to make good decisions and your actual abilities. Blockchain technology is real, it has some potential public use but the value of cryptocurrency is effectively speculative and most investors are young people who have never seen market downturns. Don't focus on the fact that it could drop in value, focus on how it does in creating sustainable income. "The best thing you can do is to make 'easy buttons' and a way to enjoy retirement where you're not stressed out all the time when the market goes down." — David Blanchett Connect with David Blanchett: Website: LinkedIn: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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There’s No ROI Until You Die With Lifetime Income Annuities: Shootin’ It Straight With Stan
05/29/2024
There’s No ROI Until You Die With Lifetime Income Annuities: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: The four primary annuity types for lifetime income There’s no ROI until you die with lifetime income annuities Two important questions to consider when buying annuities Key Takeaways: There are four primary annuity types providing lifetime income: Single Premium Immediate Annuities, Deferred Income Annuities, Qualified Longevity Annuity Contracts, and Income Riders attached to products like Index Annuities and Variable Annuities. Lifetime income from annuities is a combination of return of principal plus interest, with the annuity company contractually obligated to pay as long as the buyer is breathing. When you're buying lifetime income, always ask two questions: what do you want the money to contractually do and when do you want those contractual guarantees to start? "Lifetime income stream is not an investment. This is a contract; a transfer of risk contract. I'm transferring the risk to solve for longevity risk - the fear of outliving your money." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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How the Annuity Sausage Is Made: Shootin’ It Straight With Stan
05/22/2024
How the Annuity Sausage Is Made: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: The pricing mechanism of annuity products Annuities are commodity products Buy only the products that you understand Key Takeaways: Annuity pricing is primarily based on life expectancy, with interest rates playing a secondary role. Another key factor in annuity pricing is that annuity prices change based on capacity. Focus on the contractual guarantees when purchasing annuities, they are commodity products. So shop all carriers and find the highest contractual guarantee that is most suitable for your goal. Annuity products have the potential to become very complex. If you can’t explain it to a nine-year old, that means that you don’t understand it. If you don’t understand it, that means that you shouldn’t buy it. "When you're buying a lifetime income product, understand that life insurance companies have the big buildings for a reason, because they know when we're going to die and they're going to price things based on your life expectancy." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Roger Whitney: How To Rock Your Retirement (TAM Classic)
05/21/2024
Roger Whitney: How To Rock Your Retirement (TAM Classic)
In this episode, The Annuity Man and Roger Whitney discuss: The two retirement crises Balancing on the teeter-totter Before going into fancy tactical stuff Focusing on what you can control Key Takeaways: There are two retirement crises: one is when people don’t have enough money to pay the bills when they can’t work anymore. The other crisis is for people with many resources and options but doesn’t know the right thing to do. On the one hand, you should start having your best life today, and on the other hand, you also want to make sure that you’ll be alright when you live until 80 or 90. There’s tension between those two things, you’re standing in the middle of it all, and you have to cover yourself on both accounts. Start with what you want, then create a strategy that will make that feasible. Make it resilient so that you don’t get knocked off course and get too fancy tactics. Don’t waste your life trying to predict the future or reacting to every event. Instead, focus on things that will be useful to you, like building functional health - health that will enable you to spend time with family freely. "The majority of planning which feeds the mindset of this very uncertain world is always gonna default to denying today, and that’s not right because tomorrow isn’t promised to anyone. You gotta be a good steward. " — Roger Whitney. Connect with Roger Whitney: Website: Facebook: LinkedIn: YouTube: Twitter: Book: Podcast: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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The Perfect Annuity Does Not Exist: Shootin’ It Straight With Stan
05/15/2024
The Perfect Annuity Does Not Exist: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: Focusing on guarantees The best annuity Finding the annuity best suited for you Key Takeaways: Annuities are financial products that can provide a steady stream of income during retirement, but they come with both benefits and limitations. It's essential to approach annuities with a clear understanding of their purpose and to focus on the contractual guarantees they offer, rather than potential returns. When considering annuities, it's important to recognize that the best options are often Social Security and pensions.These provide reliable income streams that can form the foundation of a secure retirement. Avoid being swayed by hypothetical or theoretical scenarios presented by agents or advisors. Instead, compare each annuity product to determine which one best aligns with your retirement goals and needs. "When you get to the commercial side of annuities, there is no perfect annuity even though they're all pitched as such. They all have limitations and benefits. They all have good and bad." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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The Cost of Waiting to Purchase an Annuity: Shootin’ It Straight With Stan
05/08/2024
The Cost of Waiting to Purchase an Annuity: Shootin’ It Straight With Stan
In this episode, The Annuity Man discussed: Don’t time the market when buying annuities The cost of waiting for the perfect moment Key Takeaways: Don’t time the market when buying annuities. Instead of trying to find the perfect moment, determine whether you actually need an annuity by asking yourself what you want the money to do and when you want the guarantees to start. Delaying payments may result in higher guaranteed income, however, you have to look at the big picture by factoring all the payments you will miss while waiting for that ideal amount. "I know after decades in this business, you cannot time it. There is no sweet spot. There is no arbitrage moment, and there is a cost of waiting when you're trying to be that person. So do not be that person." — Stan The Annuity Man. Connect with The Annuity Man: Website: Email: Book: : YouTube: Get a Quote Today:
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Steve Parrish: Rational and Phased Retirement Planning (TAM Classic)
05/07/2024
Steve Parrish: Rational and Phased Retirement Planning (TAM Classic)
In this episode, The Annuity Man and Steve Parrish discuss: People don’t understand annuities Preparing for diminished capacity Life expectancy is good and getting better Managing your retirement plan Key Takeaways: Annuities are not an investment, it’s a form of insurance that makes investments even better. Address problems in advance while you still can. Think about how your bills will be paid, how your money will be invested, and how it can be protected from being abused by others when the time comes that your capacity is diminished. Plan to live past the life expectancy age - especially these days where technology was forced to advance to cope with the pandemic. Retirement is not just an event, it’s a change in life. Think of the behavioral and emotional aspects of it, not just the money. But when it comes to money, keep these three things in mind: your social security, medicare, and your benefit pension plan. "Guess who the last person would be that knows that you have diminished capacity - you" — Steve Parrish Connect with Steve Parrish: Blog posts: Connect with The Annuity Man: Website: Email: Book: : YouTube:
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