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Terry Savage: The Savage Financial Truth in 2023

Stan Haithcock
January 31, 2023
Terry Savage: The Savage Financial Truth in 2023

About Fun With Annuities Episode #138

Financial royalty joined me once again on the podcast for her take on 2023. Terry is always a joy to bring on, and her energy is second to none. What a money dynamo!

I wanted to get Terry’s take on the current inflation issues, and her opinion on current and future FED actions. Terry is one of the few people who have met and know most previous and current FED leaders, so her insight is unmatched. You won’t want to miss her answers.

Terry also weighed in on the markets and how you should be approaching the next few years and during retirement. Terry is more of a market fan than I am. To her credit, history does show that if you stay the course, it does work in your favor. My take is that when you retire, you might consider not only retiring from your job but also market risk We can professionally agree to disagree on this one.

At one point, she turned the tables and started asking me a ton of annuity questions. She is a definitely seeker of information, and I enjoyed our back and forth. Eventually, I had to pivot back and make her the star of the show.

Every time Terry is on Fun With Annuities, I have to get her current take on the crypto space. After the recent FTX debacle, her insights were even more important for my listeners and viewers. Both of us vividly remember the Bernie Madoff fiasco, the FTX scam is another reminder that if it sounds too good to be true…it is. No exceptions and that includes the annuity space as well.

We dug in on what I call the “trifecta of principal protection” and how people should use CDs, Treasuries, and MYGAs (Multi-Year Guarantee Annuities) with current interest rates. The key to choosing the right strategy is the duration you want to lock in. You will enjoy our back and forth on this topic and learn how to properly use all three strategies.

I kidded Terry that her face should be in the Mt. Rushmore of financial advice. If there were such a monument, Terry Savage would be there. She is a national treasure to all investors, especially retirees looking for sage and truthful advice. You will definitely enjoy this one, and I encourage you to pick up Terry’s book.

"Beware of debt. Show some responsibility. Talk to anyone you can around you." — Terry Savage.


  • The national debt will not default
  • Speculating on bitcoin
  • Inflation, debt, and layoffs
  • An annuity is not an investment


  • Stop panicking. The national debt will not default. Think rationally about this instead of listening to bad opinions on television. There’s no financial strategy for the end of the world, so it’s not really worth thinking about. Live your life.
  • If you want to be a speculator, you might as well speculate on soybean futures or go to a casino and find your game of choice. A lot of people get burned by betting on bitcoin. Invest legitimately and rationally.
  • When there are huge layoffs, two things happen. First, companies discover how they can do things more efficiently. Second, those laid off realize they can compete with the company that just fired them. That’s the beauty of capitalism.
  • Do not make the mistake of thinking that an annuity is an investment. You’re going to be pitched the dream, don’t buy it because the contractual realities will hit you hard.


Website: Home - Terry Savage

YouTube: Terry Savage


Twitter: Terrytalksmoney


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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.

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