072 Owen Schrum: When Free Ain’t Free

About Fun With Annuities Episode #72

So happy to have Owen back on the Fun With Annuities podcast to wake people up to the fact that free ain’t always free. As one of the top money managers in the country, Owen addressed the crisis that affects too many Americans. No, he’s not talking about COVID. He sounds the alarm on the Retirement Crisis that is also ravaging the country.

The National Institute of Retirement points out that 67.8% of people over 65 do NOT have sufficient income to retire. Improper lifetime income comes from not only insufficient savings but bad investment decisions.

As I always say,” if it sounds too good to be true, it is, every time without exception.” Owen factually piles on to that fact with what he calls the FREE PARADIGM. Too often, consumers seek out investments with the perceived benefit of being free or cost-free. People should be smart enough to know that you get what you pay for, and most things of value are not free. Good investment advice is not free. Fiduciary oversight of your investments is not free.

Owen covers in detail the current product pitches that might appear free on the surface or are sold as free or cost-free but are NOT once you “look underneath the hood.” Variable Annuities, Structured Products, Mutual Funds, and self-directed IRAs are just a few investments that Owen factually dissects.

With over three decades of experience managing people’s money, Owen also digs into bonds, high-yielding investments, UIT’s, and alternative investments that lure investors into a false sense of security.

In a world where too many agents and advisors will tell you what you want to hear, this is a great podcast to ground you in reality - investment reality, fiduciary reality. Enjoy this brutally factual podcast.

Bonus: In case you are new to the FWA podcast, Owen was our very first celebrity co-host. Catch his first episode with us, “053 Owen Schrum discusses Bitcoin and Explains Blockchain.”

Brief Bio on Co-host Owen Schrum:

Owen Schrum, President of Schrum Private Wealth Management has been around for a while almost as long as me so he's seen many market cycles and helped his clients succeed through all of them. He's one of the select few financial advisors to successfully earn the prestigious Certified Investment Management AnalystSM, CIMA® designation. He's someone who's deeply passionate about helping people achieve a level of predictability and financial security that helps them live life well. I have come across many financial advisors over the years, and Owen is among the smartest. You might have seen some of his columns in US News and World Report, but he also has an interesting blog I suggest you check out. You can also get more information on Owen and Schrum Private Wealth Management on their website or YouTube channel.

In this episode, The Annuity Man and Owen Schrum discuss:

• The Retirement Crisis
• The Free Paradigm
• Unteaching things that people thought wrong
• Growth and guarantees - the truth about Structured Investments

Key Takeaways:

• The retirement crisis cannot be solved by Social Security, you have to be the one to save yourself from this crisis with strategy, sound planning and smart investment.
• Don’t be fooled - there is no “free lunch”. If it sounds too good to be true, it most likely is.
• The secret to retiring happy isn’t a secret at all: have a diversified portfolio that fits your risk profile.
• Some people will sell you what they think you want and often all they’re selling is dreams.

Fun With Annuities® Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.

Listen in on how you can be livin’ the reality, not the dream®. Listen and subscribe on Libsyn, Stitcher,Apple Podcasts, Google Podcasts, Amazon Podcasts, and Spotify.