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 an annuity.
The best annuity is the one that provides the best contractual guarantee for your specific needs.
Nobody knows what is going to happen with inflation. If hyperinflation hits, at that time you solve for what you need then.
“You have to be specific about what you want the money to contractually do.” — Stan The Annuity Man
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LEARN MORE ABOUT: Qualified Retirement Plans
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Annuities are too expensive, the fees are too high. The only other “investment” that is more expensive is life insurance.
“Highest contractual guarantee.” You speak as if the company doesn’t matter because their financial strength matters.
Taxes, probate and death benefits. 401 vs. FIA? What say you, Guru?
I would like to. get free books
I am not a unicorn chasing butterflies. LOL. More like a squirrel burying all my seeds and nuts.
I got screwed doing this. 1.3% interest what a joke
There are some extreme examples here or I should say comments. And I understand that the industry has somewhat earned that name.
With that said, an annuity can be a great complimentary vehicle / Insurance product to go with social security. In the sunset it Bridges the required income gap
wait until the next big dip and dump it all in qyld, no growth at all but the income would be good, or spread it in safer dividend etfs like schd, pey, vym, sphd
So if I understand this correctly, I would hand over my 401k to an insurance company. And they in turn guarantee a steady return?
It works! Thanks Stan!!
I am a mechanic so what the hell do I know…
Granted this is a very simplistic view but I will NEVER take the advice of an annuity salesman (especially because the commissions are so high) on whether or not I should invest in an annuity. I would rather talk to a few advisors that get paid regardless of how I invest. I am not saying I would never invest in annuity but a person selling you that has little to no fiduciary responsibility.
No! No no no no. Annuities are a rip-off. They invest your money in the market take a big cut and give you what’s left. It’s stupid.
Annuities are insurance policies. Insurance companies exist to make a profit. On average your total lifetime payout will be MUCH less if annuitize your 401K vs. investing it yourself and managing it actively.
Annuities are also only as secure and the financial institution that issues them. In the event of a banking collapse, you can loose your income and assets just as fast as investing in the market.
If we have high inflation – which is starting to look like a certainty, the purchasing power of your fixed income annuity is going to rapidly become worthless. I personally believe it's better to stay in the market, or invested in other inflation hedge assets. Those assets could be precious metals, or crypto, etc.
Good job Stan thank your good info to get a good night sleep keep it up
Love the fun with annuities chanel. Thanks Stan