"Fun With Annuities" The Annuity Man Podcast

In this episode, The Annuity Man discussed:  The Annuity PILL Choosing an annuity carrier Putting the client's best interest first The future of the annuity industry   Key Takeaways:  The acronym PILL stands for Principal Protection, Income for life, Legacy, and Long-term care. If you don't need to contractually solve for one or more of those items in the PILL, then you don't need an annuity of an...

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 t...

In this episode, The Annuity Man discussed:  How are six-pack abs and market returns similar?  How to have six-pack abs and market returns   Key Takeaways:  Six-pack abs are similar to market returns. In both of them, you have to have realistic expectations and be wary of people that pitch you instant and easy gains.  Getting six-pack abs or market returns isn't going to be easy, and it won't be i...

In this episode, The Annuity Man and Adam Van Wie discuss:  Expectations versus reality The future of work  Millionaire next door Inflation is customizable   Key Takeaways:  Right now, there's a bit of a disconnect between the market and people's expectations. This happens more often than you think, as people tend not to think outside their current situation. The market is looking ahead, and it's...

In this episode, The Annuity Man discussed:  Types of advisors you should avoid  Things that discredit a financial advisor Don't let an advisor bully you    Key Takeaways:  There are a lot of great financial advisors who utilize empathy to serve your best interests. However, some believe they control the money and that clients should not question them. The latter tends to talk down to their client...

In this episode, The Annuity Man discussed:  The Annuity PILL Upfront bonuses  Keep it short and simple Transferring your annuity to another company   Key Takeaways:  PILL stands for principal protection, income for life, legacy, and long-term care. When buying annuities, you should look for guarantees and not market growth or potential. Don't let anybody sell you an annuity for market growth.  Up...

In this episode, The Annuity Man and Larry Kotlikoff discuss:  Your ability to affect your social security Mistakes that people make with social securities Two ways economics deals with uncertainty   Key Takeaways:  You have the ability to make your retirement benefit bigger or smaller by making decisions. Delaying your claim will increase the amount provided by your benefits.  Delaying your claim...

In this episode, The Annuity Man discussed:  Lengthening your healthspan  Taking care of both your healthspan and lifespan  Committing to focus on what matters     Key Takeaways:  Go after your bucket list items before you can't function anymore; life is all about healthspan. Your healthspan is the period of your life where you still feel good and healthy enough to be capable of doing what you wan...

In this episode, The Annuity Man discussed:  Avoiding too-good-to-be-true products  What are backtested numbers?  Choosing contractual guarantees  How the annuity industry can fix the problem   Key Takeaways:  Be wary of agents that sell misleading, too-good-to-be-true products. Don't buy a product with "market upside with no downside, upfront bonus, and principal protection."  Backtested numbers...

In this episode, Stan The Annuity Man discussed:  Lifetime income with SPIAs DIAs are SPIAs that you defer What counts as qualified money in QLACs?  What an Income Rider is and what it isn't  Index Annuities are the annuity industry's version of a CD Variable Annuities, charitable gift annuities, and buffer annuities   Key Takeaways:  A Single Premium Immediate Annuity (SPIA) can be structured how...

In this episode, The Annuity Man discussed:  How do life insurance companies price annuities?  Nobody knows where interest rates are going  Annuities are commodity products    Key Takeaways:  MYGAs, the annuity industry's version of a CD, has become very popular because the guarantees contractually are very attractive if your time horizon is more than three years. You'd be better off buying CDs an...

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....

In this episode, The Annuity Man and Branislav Nikolic discuss:  Why you should be cautious of backtested numbers  Being a smart and cautious consumer  The importance of transparency and consumer-advantage    Key Takeaways:  Backtested numbers are based on hindsight. The numbers may go flat or go down, but they will not skyrocket, as shown in the projection. Be cautious of people showing you backt...

In this episode, The Annuity Man discussed:  Buying an annuity that you understand  Annuities aren't one-size-fits-all How to know if you understand a product    Key Takeaways:  When buying an annuity, remember that if a product sounds too good to be true, it is every single time. There are also annuities that are more complex and most agents cannot explain it well, let alone even comprehend it th...

In this episode, The Annuity Man discussed:  What is a life-only lifetime income stream?  How you can choose where your money goes when you die The many ways that you can structure an annuity    Key Takeaways:  People who complain that annuities are bad because the money goes poof when the policyholder dies are talking about one type of annuity that's structured in one specific way: a life-only li...

In this episode, The Annuity Man and Owen Schrum discuss:  The interconnectivity of financial structures  How a hard recession could be avoided  Annuity companies are more regulated than banks  Positive trends in the economy    Key Takeaways:  Inflation, the debt limit, the Federal Reserve, and the markets are not standalone. They are all directly connected and related. Being careless with one par...

In this episode, The Annuity Man discussed:  The difference between lifespan and health span and the ultimate currency  Don't waste your time  How annuities can help you maximize your time  The purpose of life    Key Takeaways:  Lifespan is how long we're going to live. Health span is how long we're going to live well. Time is the ultimate currency. The time that we're given is all we have, we can...

In this episode, The Annuity Man discussed:  A simulation doesn't provide contractual guarantees  Contractual guarantees for your chapter two  You've more than earned the right to finally live your life    Key Takeaways:  Don't fall for what a Monte Carlo simulation shows; it doesn't prove anything. Ask them if any of it is contractually guaranteed, and you'll hear from them yourself that, at the...

In this episode, The Annuity Man and Martin Parlato discuss:  Why it's important to appoint the qualified  Cryptocurrency is "craptocurrency"  On Facebook, TikTok, and Twitter  Don't get fancy, and don't panic    Key Takeaways:  A person's identity or politics is entirely irrelevant compared to how competent they are for the job they are given; that's what matters. People who are appointed to powe...

In this episode, The Annuity Man discussed:  Lifestyle income guarantee  Making time for what truly matters  What's your lifestyle number?    Key Takeaways:  Annuities are the only category that provides income as long as you are breathing. There's no ROI until you die. Since retirement is all about lifestyle, you've got to retire from the markets and put guarantees in place to sustain the life yo...

In this episode, The Annuity Man discusses:  Not everyone needs an annuity MYGA to SPIA  Who should get a deferred income annuity?  The highest contractual guaranteed income rider   Key Takeaways:  Many of you out there don't need an annuity right now, but when you need income, buy an immediate annuity by shopping all carriers and looking for the highest-yielding guarantee.  The second way is call...

In this episode, The Annuity Man and Terry Savage discuss:  Responding to current financial issues  The bulls, the bears, and the chickens  Should you wait before taking social security?  The biggest legacy you can leave    Key Takeaways:  Don't panic at every scary event that you hear from the news. Recognize America's history of resiliency and the crises the country has gotten through. Also, che...

In this episode, The Annuity Man discussed:  Will there be a "run" on an annuity company?  How annuity companies manage bonds  There's no run on lifetime income   Key Takeaways:  Annuity companies are not smarter or better than banks; they are just more regulated. They also put things in place so there can't be a run on the annuity company.  Annuity companies and banks are buying the same investme...

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 t...

In this episode, The Annuity Man discussed:  The state of the annuity industry  Changes that are needed in the annuity industry  Things that the annuity industry needs to get rid of Live your life and stop worrying so much    Key Takeaways:  The annuity industry is thriving. Companies show that they are going in the direction of utilizing technology to make it easier for consumers to purchase and...