Jul 26, 2023
In this episode, The Annuity Man discussed:
Automating your income
Establishing an automated income stream
Reverse-engineering your income goal
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 to do.
Establish a good lifetime income stream that will provide for your spouse or family. Keep it simple, and make it automated, so they wouldn’t have to worry about a single thing when you’ve either passed or reached a decline in your cognitive faculties.
By reverse-engineering your income goal, you can solve for the least amount of money you’ll need to solve for that income goal contractually. Don’t worry about inflation, focus on computation and guarantees.
"Automate your income so you don't have to worry about that monthly income. Now that you need to, you can just go live your life." — Stan The Annuity Man.
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