How To Buy An Annuity: Start Here
Understanding the Annuity Basics
I'm going to tell you why this one has been brought to the forefront for me to talk about how to buy an annuity, just the down and dirty basics of why we're doing this.
When you see the MYGA feed on my site, I can sell that. I'm not saying you need an annuity, but understand that we sell them. The determining factor is A if you need an annuity, and if so, which type you need to start quoting. But the other thing that I ask people all the time is, what are you trying to solve for? There's an acronym that I use, PILL. P stands for principal protection. I stand for income for life. L stands for legacy, and the other L stands for long-term care or confinement care. So principle protection, income for life, legacy, long-term care, confinement care. That's the PILL. If you don't need to contractually solve for one or more of those items in the PILL, you do not need an annuity; you should never bind an annuity for potential, hypothetical, theoretical, projected, back tested, or hopeful scenario.
So does everyone need an annuity? You already own an annuity. It's called social security. It's the best inflation annuity on the planet. And if you're still arguing with me, here's what an annuity does. When you turn on the income stream, a lifetime income stream annuity, like a Single Premium Immediate Annuity, pays a lifetime income stream as long as you breathe. The older you are when you start the payment, the higher the payment. Sound familiar? Of course, that's what social security is. I mean, that's exactly. I describe social security as a lifetime income stream annuity because social security is a lifetime income stream annuity.
The Annuity Man Resources
So I encourage you to use the resources at my site, theannuityman.com. We are very proud, and I believe we've trademarked this; my CEO will yell at me when I say this. Probably if we're not trademarking it, we should be. I think we have. It's where annuities are bought, not sold. Because I was on a podcast recently, he goes ... here's how he introduced me, which was not smart because I just drilled the guy.
There's no urgency to buy a contract. The urgency is to understand what you are buying fully.
With 10,000 baby boomers reaching 65 every day, a demographic tidal wave, they're looking for contractual guarantees for most people. They're looking for a lifetime income. They're looking for principal protection. They're looking to transfer risk. People wake up in the morning looking for transfer risk, lifetime income, and principal protection. They might not get up and say, "I nee annuity." No, but they're looking for what annuities provide contractually.
So in essence, they are looking for an annuity. What we've done at theannuityman.com is provide you with a resource to learn about the product on your terms; with all the videos and podcasts, you can learn about the products on your terms and within your timeframe. You can schedule a call with me. That's not a sales call. I'm not just going to pitch you and pound you into oblivion. There's not going to be someone showing up at your door. We don't do bad chicken dinner seminars. We don't do expensive steak dinner seminars, period. We just don't. We don't need to, in essence, bait and switch you. We're going to show you the highest contractual guarantees. And we're going to explain why those are what they are. We're going to talk about interest rates. We're going to talk about inflation.
We're going to talk about how these annuities are priced. We're going to talk about life expectancy. We're going to talk about mortality credits. We're going to talk about allocation and proportion within your portfolio. We're going to talk about the customization of an annuity strategy just for you, just for you and your spouse, just for you and your spouse and your kids, or just for your mom or your dad or whoever you are trying to solve the problem for and put a contractual guarantee in place.
I would love to have you as a client, but the only way I want you is if you decide on your terms and timeframe. I tell people this all the time; there is never, ever, ever, ever an urgency to buy an annuity. They're contracts. There's no urgency to buy a contract. The urgency is to understand what you are buying fully.
If you can't explain it to a nine-year-old, you shouldn't buy it. No offense to nine-year-olds. Period. There's no urgency to buy one for an upfront bonus. The upfront bonus is candy for the stupid, by the way. There's no urgency because this product's going to change. There's no urgency because this industry's going to change. There's no urgency. There's no urgency. Period.
Direct to Consumer
Annuities in the future. And we're as close as you're going to get to a direct-to-consumer model at theannuityman.com. We're as close as you're going to get. But eventually, they will figure out how to get rid of agents like me. If you consider buying an annuity as a four-lap event, theannuityman.com site gets you three and a half. You can go three and a half laps yourself. You can read the books; you can watch the videos. You can listen to the podcasts. You can run the quotes yourself. And then what's the last half lap? That's talking to me. That's talking to me one-on-one, making sure you're not putting too much money into the annuity. Make sure it's proportionally allocated properly for your specific situation and goals. Make sure you understand that there's no perfect annuity out there that solves for inflation, but I'll explain how we solve for inflation using annuities.
That's how to buy an annuity, and you start right here.
Never forget to live in reality, not the dream®, with annuities and contractual guarantees! You can use our calculators, get all six of my books for free, and most importantly book a call with me so we can discuss what works best for your specific situation.