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“Fun With Annuities” The Annuity Man Podcast

Mar 22, 2022

  In this episode, The Annuity Man and Andy Panko discuss: 

  • How advisors should construct their fees 
  • The complexity of decumulation 
  • Making the plan as good as it can be
  • Cryptocurrency is a lottery ticket 
  Key Takeaways: 
  • The work isn’t linear to the asset size; advisors shouldn’t make more money just because assets go up. In the same way, advisors shouldn’t be paid less just because the markets go down. They’re still doing the same amount of work and providing the same services.
  • Investment management, even good investment management, has become increasingly cheap, easy, commoditized to do and do well. Decumulation is much more complex. 
  • Try to make the plan as good as it can be initially, accounting for unpredictable events. So try to structure your plan as best as possible to account for times of distress. Get all things working cohesively - it’s not just investments, insurance, real estate - it’s everything, including guaranteed lifetime income. 
  • Cryptocurrency has zero intrinsic value. Its value is 100% on simple auction market pricing; it’s only worth as much as what someone is willing to pay for it. You can invest a small portion into it, but only if you’re comfortable that the value could go to zero. Treat it like a lottery ticket. 


"Most people can do accumulation well; it’s the decumulation where things get a little more tactical and complicated…" —  Andy Panko.


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