Replay: Live Q&A Income Strategies with MYGAs and SPIAs - July 2022

Stan Haithcock
Stan Haithcock
July 14, 2022

Recorded: Saturday, July 9th at 12 p.m. EST. Stan The Annuity Man® kicked off the Live Q&A discussing income strategies with MYGAs and SPIAs. 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.

15 Questions from the Live Q&A “Income Strategies with MYGAs and SPIAs”

  1. If we don't need the money for 5 or 10 years, are we better off to buy MYGA at 4% now and then buy a SPIA later at the end of that time; or buy a DIA now to turn on later?
  2. What direction are MYGA rates headed with interest rates rising?
  3. I read that most MYGAs are RMD friendly. Does that mean you can withdraw the full RMD regardless of the amount without penalty?
  4. What happens to the amount of your distribution on your SPIA if you move to another state?
  5. guess.....are we going to bust 6% by Dec 31?
  6. MYGA backed by state Guarantee Associated.
  7. Myga not collecting mthly interest, can you later start collecting interest mthly?
  8. When purchasing an SPIA in the last 6 monthsof the year, does the insurance company or do you help us determine the RMV for the 1st 6 months?
  9. So, even if it's, say, a 5 year MYGA, "peeling off the interest" means I can pull out and utilize the interest the Myga has earned anytime during the first 5 years?
  10. Are SPIA payout rates increasing in tandem with MYGA rates proportionately?
  11. MYGA - with a 10% per Annum withdrawal post 59.5. Can one do this monthly (10%/12) to get a somewhat steady income OR does one have to get 10% in one go?
  12. If a buy a 5 year MYGA and I turn 72 a year before the contract ends, what happens with the RMD?
  13. At what point does an NR rated company get a grade?
  14. What is the pro and con of doing business with my current pension company? Is it advantageous for one to just roll it to a Stan the annuity man and get the best help vs current pension holder
  15. Looking to invest $250K in a FIA that pays $18,222 a year after 3 years. Only fee is .95 for the lifetime income rider. How would the $18,222 amount compare with your MYGA and SPIA formula?