Aug 29, 2023
In this episode, The Annuity Man discussed:
The Annuity PILL
Do you need an annuity?
Is your money safe?
You own an annuity for what it will do, NOT what it might do. Remember the PILL acronym: principal protection, income for life, legacy, and long-term care.
It's very simple to determine if you need an annuity period, and it comes down to two questions: What do you want the money to do contractually? And when do you want those contractual guarantees to start?
The business model of insurance companies is calculated based on life expectancy. It is a confidence product and is highly regulated - even more regulated than banks.
The biggest psychological hurdle to buying an annuity is the fear of missing out. You need to overcome the fear of missing out on market returns and replace it with the fear of missing out on your chapter two, where you should live the life you have earned.
"There's no urgency. Do not be forced or pressured to sign anything. You sign what you want to sign when you want to sign it, period—no exceptions." — Stan The Annuity Man
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