You Already Own At Least 2 Annuities: Shootin' It Straight With Stan

Welcome to Shootin' It Straight With Stan. I am your host Stan The Annuity Man, America's annuity agent, licensed in all 50 states. Today's topic is a good one that might shock you and the public. And when I'm talking to you, you already own at least two annuities. It's true. You already own at least two and let me explain those two that you already own. You can't argue with me because I'm hitting you with facts.

‌Social Security

‌The first one is if you've listened to any of my videos, read any of my seven books on annuities, and blah, blah, blah. Social Security is the best inflation annuity on the planet, period. End of story. Full stop. Pound the table. No argument. So, for all of you haters out there who say, "I hate all annuities. I'm never buying an annuity, Stan." You're the same person who loves it when that annuity payment from Social Security hits your bank account or you're getting ready to take Social Security as part of your overall plan, and it's an annuity, period. It's going to pay for life. You can set it up to pay joint life.

‌Again, Social Security is the best inflation annuity on the planet. I always say it because it's a political football and not an actuarial football like it is with a private sector inflation-adjusted annuity. When you put a Cost-of-Living Adjustment on an annuity or, "This index increases with your income with inflation," sales pitch, the annuity company just simply lowers, and I mean, drastically lowers, that initial payment to make up for that increase. Annuity companies have the big buildings for a reason. They're sponsoring sports stadiums for a reason. They have the big planes with the logos on the back for a reason. It's because they don't give anything away. So, that's the first annuity that you own. Social Security, period. Congratulations. Don't go out at the next cocktail party and say, "I hate all annuities. I never bought an annuity." You already own one, player.

‌Required Minimum Distribution

‌The second annuity is one that you own, and the vast majority of you own one. It's attached to your IRA, Individual Retirement Account. Suppose you have a 401k or 43B or 457, any of those accumulation-type accounts. In that case, that's tax-deferred that you're going to eventually roll into a rollover IRA, an individual IRA, in my opinion, Stan, the Annuity Man, America's annuity agent, licensed in all 50 states, the go-to source for all things annuity on the planet. Your Required Minimum Distribution is also an annuity, in my opinion. Now, you might be saying, "Wait a minute. Stan. I'll tell you something, son. Now you've crossed the line with me because that's just garbage." No, it's not. And let me explain why. Required Minimum Distributions: check the date on this blog. At the time of this blog, the IRS will tap you on the shoulder at age 72 and go, "Excuse me. Oh, by the way, regardless of whether you need the money or not, you'll have to start taking money out of your IRA every year, so we, the IRS, and the government can tax that because you've been deferring taxes all that time."

‌Now, what do RMDs do? They create an annual lifetime income stream. As long as you have IRA assets, you're going to have to take RMDs. You can't call the IRS and say, "You know what? I really don't need that money, so I don't want to take those RMDs." R means required.

‌So, what is an RMD payment on an annual basis? It's an annuity payment. It's an annual annuity payment you have to take that will pay for as long as you are breathing. Sound familiar? It should, because that is the definition of a lifetime income annuity. Now, variables inside that RMD thing and all you Masters of the Universe, Wall Street types. By the way, just before you start blasting me, I used to work for Dean Witter or Paine Webber, Morgan Stanley, UBS. Be very careful because you might get filleted like a flounder if you come at me with non-facts. What I'm talking about now is the annuities that you own and the income floor that you're establishing. Required Minimum Distributions, in my opinion, looks like a duck, walks like a duck, and quacks like a duck, so it might just be a duck. In this case, it's an annuity.

‌Pensions

‌Those are the two that the vast majority of people, well, all people with a Social Security number, own one. If you have an IRA, you own two. You might even own a third one. "What? What, Stan? What are you talking about, son? Are you going crazy? You drinking that wacky water again, that brown water. You know what I'm saying?" No, I'm not. If you work for the government, the state government, the US government, 9% of the private sectors out there, or a very good labor union that set this up, you might have a pension. "What is a pension, Stan?" Good question. A pension is an annuity payment that typically pays for the rest of your life. Some allow you to pay for a period certain, some allow you to attach a spouse for lifetime income, but it's a pension payment.

‌And "What is a pension, Stan. Hey, Stan, Stan, Stan, Stan. What's a pension?" It's an annuity. So, you definitely own one. You most likely own two and you could own three. "What does that mean to me? Stan The Annuity Man, I'm watching you. You're passionate. You have proven to me that I have at least one, I might own two, and there's a possibility own three. Okay, what does that mean, Stan?" What that means is that it's part of your overall income floor. The income floor is the money hitting your bank account, regardless of what old person's in office, the party, or what's happening. Party means not celebration. The parties. There's no celebration with those two or three or whatever, which one you belong to, global events, etc. It's the money that's hitting your bank account every single month. That income floor that takes you through chapter two of your life.

‌This has been a great blog. Nod your head, high-five virtual, and share it with your friends. Call your spouse over and say, "Read this: we own annuities. Did you know that?" The question is, do you need more? Do you need more guaranteed income for that income floor? That's just straight-up math, player. Just run the spreadsheet, and if you need to fill a gap, go to my site, The Annuity Man. You can run quotes using our proprietary calculators 24, 7, 365, and no one will bug you. It's virtual; you can just click it. We're shopping all carriers. It is a beautiful, beautiful thing.

Hey, that's Shootin' It Straight With Stan. My name is Stan The Annuity Man. See you next time.

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.