"Fun With Annuities" The Annuity Man Podcast

In this episode, The Annuity Man discusses:   The different types of annuities and how they can work for you in retirement.  Understanding your specific goals and needs.  Customizing your annuity for your individual needs.  Combining an income floor with your social security.    Key Takeaways:   Upfront bonuses are just part of the contractual guarantee, not free money. Solve for the specific situ...

In this episode, The Annuity Man discusses:   The original purpose of a variable annuity.  The mess that has been caused by Transamerica now taking over these Vanguard annuities.  Being careful about companies offering upfront bonuses on annuities.   Holding on and not making rash decisions.    Key Takeaways:   Transamerica is the company that is now servicing all of the annuities that were purcha...

In this episode, The Annuity Man discusses:   How to know if you even need an annuity.  Shopping all carriers for your specific situation.  The 5 choices when you have a fixed index annuity with an income rider. Test-driving your annuity.    Key Takeaways:   There is no rush to buy an annuity, only to understand it.  You will never know the ROI until you die on an annuity. It is a lifetime income...

In this episode, The Annuity Man discusses:   Understanding how a fixed index annuity works, rather than how it is pitched.  The dangers in backtested numbers (and why they should be illegal in all 50 states). Stripping away the complication of the fixed index annuity.  Shopping around for your annuity and asking for a specimen policy.    Key Takeaways:   Fixed index annuities can be used as an ef...

In this episode, The Annuity Man discusses:   What is meant when we talk about annuity rates.  The three primary lifetime income products in the annuity world. Falling in love with the contractual number, no the carrier.  Understanding what you're trying to solve for and how rates apply to your specific situation.   Key Takeaways:   In the annuity world, "rates" does not always mean interest rates...

In this episode, The Annuity Man discusses:   What an index annuity is.  Buying the contractual reality, not the dream.  Why renewal rates are the key to index annuities.  The importance of understanding what the renewal rates are and why they matter.   Key Takeaways:   If you're looking for an index annuity for accumulation, then you need to know about renewal rates.  There is no renewal rate his...

In this episode, The Annuity Man discusses:   What a MYGA (Multi-year Guaranteed Annuity) is.  The negatives to a MYGA.  The length of time on a MYGA term.  The hidden secrets of a MYGA.   Key Takeaways:   Multi-year guarantee annuities and fixed indexed annuities are both CD products. Interest rates do not have to go up, there is a good argument for them to go to zero (even if we hope it doesn't)...

In this episode, The Annuity Man discusses:   What an income rider is (and it isn't an annuity).  The income rider versus the accumulated value side of the calculation table. The flexible nature of income riders.  Taking the annuity payments when you need the income and transferring the risk.   Key Takeaways:   An income rider is an attachment to a contractual agreement, not an agreement itself. ...

In this episode, The Annuity Man discusses:   The simplistic nature of MYGAs.  The end of term flexibility of a MYGA.  Why you can't broad brush all annuities.  It is your money, you get to make the decisions.    Key Takeaways:   The commission is already built into annuity contracts, they can vary depending on the complexity of the annuity. For something like a MYGA, they can be quite low, possib...

In this episode, The Annuity Man discusses:   The best thing to do if you have inherited an annuity.  Understanding the type of policy that you are inheriting.  Spousal and non-spousal choices of an inherited annuity.  Understanding the goals and the contractual guarantees of the annuity you have and what you want it to do.    Key Takeaways:   You have to hire someone who is qualified to give tax...

In this episode, The Annuity Man discusses:   Understanding the claims payability of the company that is offering the pension payment. Knowing what you want the money to contractually do.  Owning an annuity for what it will do not what it might do.  Telling what you want, not being told what you should do.    Key Takeaways:   About 80% of the time, with a pension payment, the payments from the com...

In this episode, The Annuity Man discusses:   Investors vs annuity buyers.  Understanding the contractual guarantees and making sure they work for you.  Annuities are life expectancy based - you can't time that.  The things you can't time and why they shouldn't affect your choice of buying an annuity.    Key Takeaways:   Short answer - no, you can't time your annuity purchase. It's a contract, not...

In this episode, The Annuity Man discusses:   Having money in the stock market (even if you don't have or need an annuity). Why you should be in the stock market, either managing yourself or having someone manage it for you.  Understanding if you need an annuity and how to allocate and proportion your money.  Diversification of risk and assets. The stock market and annuities can work together, but...

In this episode, The Annuity Man discusses:   What a 401K is and how it affects your retirement.  Market growth versus contractual guarantees.  Shopping annuities like you shop for plane tickets.  Understanding proportion and allocation.    Key Takeaways:   What do you want the money to contractually do? When do you want those contractual guarantees to start? If you want market growth, don't buy a...

In this episode, The Annuity Man discusses:   Laddering for principal protection vs. Laddering for lifetime income.  The customizable nature of laddering annuities.  What is looked at and strategies for laddering depending on what you want the contractual guarantee to do.  Addressing inflation.    Key Takeaways:   There are no perfect answers, just really bad sales pitches. Nobody can predict wher...

In this episode, The Annuity Man discusses:   How life insurance and annuities differ, despite being sold by the same companies.  The variance in the death benefits between life insurance and annuities.  Ways in which life insurance and annuities can work together.  Knowing what your goal is when buying life insurance and annuities.    Key Takeaways:   Annuities are issued by life insurance compan...

In this episode, The Annuity Man discusses:   Determining if you need an annuity. Annuities are not one size fits all - they are contractual guarantees.  Taking care with the annuity sales pitches that are coming your way.  Creating your Annuity Statement of Understanding.    Key Takeaways:   Every single day, over 10,000 Americans reach the age of 65. To determine if you need an annuity, ask your...

In this episode, The Annuity Man discusses:   Types of annuities that are and are not transferable.  Buying and transferring an annuity inside of an IRA. Only transferring if it is in your favor (not the agent's favor).  How Income Riders affect the transferability of your policy.    Key Takeaways:   You can transfer from one IRA to another as a non-transferable event (meaning no taxes) regardless...

In this episode, The Annuity Man discusses:   The misinformation around annuities.  How buying an annuity is like buying a plane ticket.  Maximizing results with annuity calculators.  Using annuity calculators to get a feel for what the guarantees are.    Key Takeaways:   There is never an urgency to buy an annuity. The only urgency is to understand the contract.  The best annuity out there is the...

In this episode, The Annuity Man discusses:   The limitations and benefits of the different types of annuities.  Knowing if an annuity is right for you or not.  All of the annuities can be used in the different types of accounts out there - it just changes how it is taxed.  Reverse engineering to plan your annuity.    Key Takeaways:   Annuities are the only product on the planet that guarantee a l...

In this episode, The Annuity Man discusses:   Structuring your lifetime income payment to go to your beneficiary, not the evil annuity company.  Life insurance versus annuity death benefits.  Common death benefit choices.  Beneficiary setups for annuity death benefits.       Key Takeaways:   Annuities are contracts, it is up to you how you want to structure it.  Annuities are customizable from a d...

In this episode, The Annuity Man discusses:   Congratulations! You already own the best inflation annuity on the planet - Social Security! Shouldering or transferring your risk. One of the biggest mistakes that people make with annuities.  Buying annuities for what they will do, not what they might do.  Understanding what you are buying before you buy regardless of what your annuity agent says.  ...

In this episode, The Annuity Man discusses:   The importance of contractual guarantees driving your buying decision Why you should never buy annuities for potential market type growth What to be aware of at the "bad chicken dinner annuity seminars" How to protect yourself by creating your own "statement of understanding"       Key Takeaways:   Indexed annuities were designed in 1995 to compete wit...

In this episode, The Annuity Man discusses:   Why he offers both personal service and do-it-yourself choices How all annuity types are commodities Why you should make your decision solely on the contractual guarantees Why he believes annuities should be bought, not sold       Key Takeaways:   Take your time and make the decision on your terms and your timeframe By law, you have to speak with a lic...

In this episode, The Annuity Man discusses:   How annuity companies are more regulated than banks Where annuity companies are required to put your money The US 10 Year Treasury Note and the role is plays with annuities  The reason for surrender charges on deferred annuities     Key Takeaways:   Fixed annuity companies have 100% of your money available day one Life expectancy drives the pricing tra...