Replay: Live Q&A - Income Planning Tools For Retirement May 2022

Stan Haithcock
Stan Haithcock
May 22, 2022

Recorded: Saturday, May 14 at 12 p.m. EST. Stan The Annuity Man® kicked off the Live Q&A discussing income planning tools for retirement. He then answered detailed questions from viewers on the fly. The questions are below, and click the link to watch for the answers. Do you see your question below? If not, join us for the next monthly Live Q & A.

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27 Questions from the Live Q&A “Income Planning Tools For Retirement”:

  1. Why are you so opposed to buy variable annuities and buying them 10 to 15 years before you need them?
  2. Aren't buying SPIAs just as big a gamble since we never know what interest rates will be in the future?
  3. I'm early retired at 54. Wrestling w/ locking in taxable, growing income for life, likely turning my future Social Security income into taxable income vs doing Roth conversions. Your thoughts?
  4. I’m missing something...1 million SPIA with joint, seems to make sense to go with the lowest payout listed for a 25% tax bracket for after-tax income.
  5. Why QLAC instead of SPIA?
  6. So my annuity that is guaranteed 4.5% minimum a lie? in 13 years it states the rate is 4.5% guaranteed…
  7. How does cash refund option on an SPIA affect the monthly paid amount?
  8. Variable annuity with large gain and LTC policy with annual payments. Any planning opportunities and how does implementation work?
  9. Does the Oceanview 6 yr MYGA allow 10% penalty-free withdrawals each year..?
  10. Retired w/a pension + 401k. The pension will do® for a while, but I want to transfer some market risk, moving some 401k into MYGA. What info do I need for a brutally-factual call with your team?
  11. Have you ever seen annuity companies change cap & par rates after the contract has been established? I know they can according to their contract language, but does it happen much?
  12. Quote I got: $1100/mo w/ a company ranked 23rd in the Comdex report (score 97). Your income rider tool shows options of $1350 & $1330 @ #117/score 80 & #101/score 88. Where do you draw the line?
  13. If I become a player and transfer some 401k money into a MYGA and earn interest $$ during the accumulation period, does the interest also earn interest?
  14. What's your commission on your average annuity that you sell?
  15. As a new agent, what would be a good start to writing annuities? Also, knowing what you know now, what's something you wished you knew when you first started?
  16. What is a good way to determine best sequence of tapping SS, pension, annuity, 401k?
  17. I have all my accounts with Fidelity. If I purchased a MYGA through you & not through Fidelity, can it be set up so I can see the annuity on my Fidelity account? As line item or in traditional IRA?
  18. I get out of an annuity at any time?
  19. I'm 72 I want out of my Vanguard total index fund its a non-IRA account. What do u recommend?
  20. Would a MYGA ladder be a good way to cover health insurance until 65 Medicare? Approx 7 years.
  21. What happens if I buy a SPIA and the insurance goes belly up. Do I then go to the federal annuity insurance payout? How are they insured?
  22. Can we buy extra copies of your books?
  23. I'm in TX...they have a $250,000 annuity safety net in case the annuity co goes you know if this is per annuity or per person?
  24. Income for life i.e. payout til die, always come as an icome rider?
  25. What's the lowest company rating you would consider for a 10-14 year annuity?
  26. What is the maximum percentage of your total retirement assets can you put towards a SPIA?