Jan 19, 2021
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, possibly .5%-2% depending on the carrier.
- Choose the highest contractual guarantee, whether that is renewing with the current carrier or moving to a different carrier at the end of your MYGA term.
- You are living the reality - that is the contractual guarantees. You can make the annuities work for what you want them to do.
- Transferring within an IRA is a non-taxable event. You can also transfer to other annuities depending on what you want the money to do.
"The MYGA owner is the winner. You control the asset 100%." — Stan The Annuity Man
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Website: TheAnnuityMan.com
Email: Stan@TheAnnuityMan.com
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YouTube: Stan The Annuity Man