Replay: Annuity Essentials In 2023: Stan The Annuity Man® Live Q&A - January 2023

Stan Haithcock
Stan Haithcock
January 20, 2023

26 Questions from the Live Q&A “Annuity Essentials In 2023”

  1. Would you recommend an A- Insurance Company for a 5, 7, or 10-year annuity?
  2. I was born in 1952; when do I need to take my first RMD?
  3. In a MYGA, can you take out your principal after contract expires? Or do you need to wait till 591/2 like an IRA?
  4. Are there age recommendations when a client should consider an annuity or not consider an annuity?
  5. What is your current view of QLAC's?
  6. Retirement Income Gap The Real Deal, the income gap is funded. All is good, but what about subsequent years when inflation reduces your spending power? Should you account for inflation initially?
  7. What is the percentage one would pay for investing in an annuity?
  8. Please expand on SPIA options in the event of death: 1) principal returns to beneficiary 2) principal reverts to the insurance co. In the case of #2, approximately how much more are the % payments vs. case 1?
  9. If I buy an SPIA in the spring but don’t want payments to start until January of the next year, does that principal gain interest in the interim?
  10. I do not understand the details of buying a joint annuity with qualified money and how would It affect spouse if I die.
  11. Principal required in Traditional IRA for a 20-year certain SPIA for married couple to only cover the standard IRS deduction so maybe around $25K/year?
  12. Can a MYGA rate be locked in at the time of application? What happens if paperwork delays are encountered and rates change?
  13. Where do you think fixed annuity rates will be in 2023 and 2024?
  14. Are CD's and myga's taxed differently on the gains?
  15. What is the best age to buy an annuity? Why annuities have such a bad reputation (high fees, etc)? I was thinking to use part of my Traditional IRA to buy an annuity but not sure when and which type.
  16. Similar to my age question how about minimum dollar amounts that one should have to invest a lump sum in an annuity (excluding dollar cost averaging into an annuity)?
  17. Can a QLAC have a beneficiary if both my wife and I die?
  18. What is your opinion on US Treasuries?
  19. Comparing a deferred income annuity vs. fixed index annuity with income rider, should I only consider which provides higher guaranteed income?
  20. What should I do if I want to use an annuity for yearly vacations? Start in 5 years and last for 10 years need about $7000 a year.
  21. Since the income rider adds (large) fees to the FIA, does that negate the potential upside an FIA offers?
  22. In the free withdrawal period with an MYGA what does Int stand for? Why are some MYGA not rated?
  23. Is there a specific coefficient or factor you're aware of regarding how the Fed's rate hikes/cuts affect annuity yields?
  24. How do you know if using part of your traditional IRA for an annuity is a smart choice?
  25. Which annuity has the least moving parts and lowest commission fees? A lifetime only with no COLA?
  26. DIA with a return of premium and % increase for inflation. The monthly amount would start lower. If you die early, wouldn't that leave more for your heirs?