Jul 13, 2022
In this episode, The Annuity Man
- The annuity industry’s bad
- Don’t trust the sales pitch
- Are all annuities bad?
- Ask for the contractual
- The annuity industry has unfortunately earned
its bad reputation despite its monopoly on lifetime income. That’s
because some agents target people who are not financially
- When something sounds too good to be true,
especially in annuities, it 100% is. There are no perfect answers,
just bad sales pitches. If you don’t know who the sucker at the
table is, it’s probably you, so don’t fall for their bad
- Social security is an annuity; pensions are an
annuity. People who say they hate all annuities truly don’t know
what they’re talking about.
- Don’t fall for hypotheticals or back-tested and
projected numbers; ask for contractual guarantees. If you can’t
explain it to a nine-year-old, don’t buy it. Don’t let somebody
rush you into buying something you don’t
"I don’t care if you’re smart in other things, but
if you say ‘I hate all annuities’ or ‘all annuities are expensive’
- you are a moron; you should not speak. If you don’t know the
answer, don’t bluff. I’m not out there talking about cooking; I
can’t cook! But I know annuities." —
Stan The Annuity Man.
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