Sep 21, 2022
In this episode, The Annuity Man discussed:
- You might already have lifetime income
- The most stupid reason to hate annuities
- The many ways to structure annuities
- Covering your basic expenses
Key Takeaways:
- There’s a high probability that you already have lifetime income insurance in the form of Social Security, IRA, or a 401k. The real question isn’t if you have lifetime income insurance but if you need more.
- Hating annuities because you believe that when you die, the money goes to the annuity company is one of the most uninformed statements of all time. There are at least four ways to get lifetime income from an annuity. There are also many types of annuities and many ways to structure an annuity to fit your specific need.
- You can structure an annuity where the annuity company will be contractually obligated to pay as long as you or your spouse is still living. You can also get lifetime income insurance by just protecting the principal and peeling off interest through Multi-Year Guaranteed Annuities.
- If you are facing retirement, remember first to cover your basic expenses with lifetime income insurance. Put your money in the market if you want; you’ll be fine as long as you are covered by contractual guarantees.
"There are no U-hauls behind hearses; live your life right now. And that might mean lifetime income insurance, fill in that income floor. " — Stan The Annuity Man
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: Stan@TheAnnuityMan.com
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
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