031 Annuity Transfers: How the process works and should you do it.

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welcome to

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fun with annuities with your host me

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stan

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the annuity man america's annuity agent

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can annuities be fun

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can contractual guarantees be fun

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absolutely they can

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find out the brutal facts about

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annuities with no sales pitches or high

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pressure nonsense

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just the brutal and factual annuity

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truth which is all you need to hear

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let's have some fun with annuities and

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let's have that fun

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start right now

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[Music]

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welcome to fun with annuities my name is

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stan the annuity man america's annuity

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agent licensed in all 50 states

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representing pretty much every carrier

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out there

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i am the guy top agent in the country

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independent agent in the country i don't

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have a

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favorite carrier i just have my favorite

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annuity is the one that provides you the

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highest contractual guarantee

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for your specific situation today's

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topic

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is a good one it's it's called it's

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about annuity transfers how the process

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works if you have an annuity should you

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transfer it i mean these are

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these are key things we're going to go

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through all of that in detail

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and i do encourage you to uh either go

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to my site at theannuityman.com

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and schedule call with me if you have a

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specific question or if you want me to

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review annuity that you already own

1:19
to see if you should transfer it a lot

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of cases you should not and i'll tell

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you that

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but if you ever ask if you ask most

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agents should i transfer this annuity i

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mean that's a

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that's the annuity agent's version of

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pavlov's dog they just start

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drooling and yeah you should transfer it

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uh no uh a lot of the policies that are

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out there are designed so that's

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very hard to transfer if you were an

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annuity company you would design

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the product so that you couldn't either

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get out of it or

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it's really really hard to transfer and

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not in your best interest to do that so

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really that's that's the case and a lot

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of these policies but i'll be more than

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happy to take a look at it

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i do encourage you to go to the

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annuityman.com you can run your own

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quotes there

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without having to talk to anybody 24 7.

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there's a live myga fix rate feed for

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your

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specific state of residence you can get

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my seven published books i can

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i'll ship them to you hard copy for free

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you can go to amazon make my wife happy

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and buy them if you want to that's your

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call

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but i would i would go to my site and

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have me ship them to you

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i also have a youtube channel called

2:22
um stand the annuity man where i do

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youtube videos

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typically they're anywhere from seven to

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ten minutes long on specific topics that

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are very easy to understand

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and this podcast fun with annuities is

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also being filmed right now

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in the will do not might do studios on

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the annuity fund cam so for all of you

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listening

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on the spotifys and itunes and all that

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stuff if you want to watch this

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go down and see my facial expressions

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and all that stuff

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you can do that go to fun with annuities

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youtube channel so you know this is

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being taped

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as well trying to cover all the bases

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here you know so um

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let's cover a couple of things uh you

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know my books that i've written i think

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are very informative i've written six

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owner's manuals

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on all annuity types and then my

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original book the annuity stanifesto but

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i'm really proud of the calculators that

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we have they're proprietary that you can

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use

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at your leisure um you know just to run

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quotes if you said you know i wonder

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what a hundred thousand dollars would

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pay for me and my wife blah blah

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you can do that now i would encourage

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you after that to schedule call me so

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that we can

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go over the details there's so many ways

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to customize these products that's what

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i do

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i mean that's that's the reason i wear

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the shirt with the logo on it right

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stand the annuity man

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um because that's what i do i focus

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solely

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on annuity so let's jump into the topic

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about transferring

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annuities um first of all let's go

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through the annuity types

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that some are transferable after you buy

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them and some are not

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so let's talk about the ones that are

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not transferable and i love that people

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always say

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well who don't annuity stand well you

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hate all restaurants too you had all

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trucks you had all shoes

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there's many different types of

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annuities and they do different things

3:58
but the ones that are not transferable

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that are irrevocable

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are primarily the lifetime income

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products single premium immediate

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annuities

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deferred income annuities qualified

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longevity annuity contracts

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those three are pension products very

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simplistic transfer of risks

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no moving parts no market attachments no

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annual fees

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pension plans that you can customize but

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you can't

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buy one and then you know two years

4:24
later say on a q

4:25
lakh say yeah i don't want to do that

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anymore i want to buy a boat send me the

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money you can't you're going to get your

4:29
money back

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but it's going to be in payment form so

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you cannot

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transfer those so if you have an

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immediate annuity and it's in payout

4:36
form

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you can't transfer that if you have a

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deferred income annuity

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that you are you know deferring for

4:42
seven years and it's year four

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you can't transfer that if you have a

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qualified longevity annuity contract

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that you set up for you and your wife

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and you're going to have it started

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age 85 you can't transfer that these are

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illiquid irrevocable pension products

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that i mean they're good or bad that i

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mean that structuring's good or bad it

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is what it is you just need to know that

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so let's talk about the ones that are

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transferable the primary ones

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those would be the deferred annuities

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and three primary deferred annuities

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which is multi-year guarantee annuities

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nyga

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that's the acronym that's the annuity

5:18
industries version of a cd

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okay that can be transferred a fixed

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index annuity another cd product

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developed in 1995 to con to compete with

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cd returns

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that's what they do that's i mean that's

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what they are that's not how they're

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sold a lot of

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agents really push the limitations on

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the stories with that but

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um you can transfer a fixed indexed

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annuity you can also transfer a variable

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annuity

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disclaimer i don't sell variable

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annuities i don't have anything against

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them i just don't

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i don't handle anything or recommend

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anything that has the potential to go

5:48
down in value so i

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only look at the fixed products and the

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guarantees on the fixed annuity side

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are just historically they offer higher

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contractual guarantees

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than the the same type of contractual

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guarantee attachments to variable

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annuities

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so in my world you own an annuity for

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what it will do not what it might do

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we're in the will do not might do

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studios

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and that is you buy for the contractual

6:12
guarantees

6:14
you're living the reality not the dream

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you're not buying the dream because

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you're going to own the contractual

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realities

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so let's talk about um also too

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the transferring of annuities from a

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taxation standpoint

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okay you can have an annuity

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and let's just talk about the

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transferable types right now the mygas

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the index annuities

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and the variable annuities you can have

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those in any type of account you can

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have them in an ira

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you can have them in a roth ira and you

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can have them in a non-ira non-qualified

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account a lot of people out there

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say wait a minute whoa whoa whoa stan

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the annuity man

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why would i put an uh an annuity inside

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of an r8 you would put an annuity inside

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of an ra for the contractual guarantees

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that you're looking for

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when i hear agents or or pundits or

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commentators say you should never put an

7:01
annuity

7:02
in an all right they're the dumbest

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people on the planet

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that makes absolutely no sense and

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anyone who said that should be

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disqualified from ever talking about an

7:11
annuity again

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period here's the bottom line when you

7:15
buy an annuity

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inside of an ira you're buying the

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contractual guarantee so if you're

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buying an immediate annuity inside of an

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ira

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you're buying the contractual guarantees

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of the income stream if you're buying a

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multi-year guarantee annuity inside of

7:27
an ira

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you're buying that contractual

7:29
guaranteed annual yield

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period are you going to get double tax

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deferral because you own a

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tax deferred instrument annuity inside

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of an ira no

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you don't so i mean i think that's where

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people get hung up well i'd never do

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you put two two pairs of socks on and

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a belt and suspenders i mean that's i

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mean people just aren't uneducated

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that's the reason i'm out here to talk

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about it so when you're transferring

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annuities

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you can transfer from any account so

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let's just say you have it in an ira

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account

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you can transfer it from one ira to

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another non-taxable event let me repeat

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it

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non-taxable event not going to trigger

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any taxes

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say it again no taxes okay it goes from

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ira to ira so from

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let's just say you have an ira at schwab

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you you would

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transfer the money from schwab to the

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annuity carrier that you

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uh chose with my help okay so it would

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go from schwab to the annuity company

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non-taxable event ira to ira if you have

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a roth ira

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roth ira to roth ira obviously that's

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not taxable you've already paid the

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taxes

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and if you have a non-qualified account

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like a non-ira account

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you can go from annuity to annuity using

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the irs code 1035. if you're bored if

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you have zero life if you've been

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married for 40 years and you're just

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have nothing to do you pick up the tax

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book

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go to section 10 35 and say oh yeah you

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can go from annuity to annuity that's

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the

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irs 1030 that's what that's what 1035

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transfer means by the way 1031 is real

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estate to real estate don't get that

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confused

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1035 is annuity to annuity so

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if you're transferring from one from

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let's just say you have a multi-year

9:04
guarantee annuity

9:05
um in a non-ira account and you want to

9:07
transfer it to another multi-year

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guarantee annuity

9:10
once the surrender charge time period is

9:11
up you can do that via a 1035 exchange

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okay non-taxable event

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let me repeat it again non-taxable event

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not going to trigger any taxes

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but your cost basis will transfer to

9:26
that uh to that mica

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so those are i mean those are the basics

9:30
of

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you know transferring you know annuities

9:34
and the types of annuity the types that

9:36
don't the types

9:37
that you can't transfer the types that

9:38
you can transfer the the account types

9:40
that you can have annuities in

9:42
and how that transfer works

9:43
understanding that it's a non-taxable

9:46
event the reason i

9:46
i really hammer that is you'd be

9:48
surprised i could say that six times in

9:50
a conversation with someone

9:52
and then they'll come back at the end

9:53
and go i don't want to trigger any taxes

9:54
stand you do understand that i'm like

9:56
i just said non-taxable event about six

9:59
times really slow

10:00
so part of our job as stand the annuity

10:04
man

10:04
and my team who are the best when we

10:07
handle the paperwork for you we'll make

10:09
sure all of that goes smoothly you don't

10:10
have to worry about it you have to do

10:11
any of that

10:12
we take care of all the paperwork from

10:13
start to finish if you go through the

10:15
process

10:16
of buying an annuity type with us you

10:19
know

10:19
i have done other podcasts about do you

10:21
even need an annuity how do you

10:23
determine if you need an annuity

10:24
just remember the two questions what do

10:26
you want the money to contractually do

10:28
when you want those contractual

10:29
guarantees to start and then from those

10:30
two answers

10:31
we can either determine if you do not

10:33
need an annuity and also

10:34
if you do what type is going to provide

10:37
the highest contractual

10:39
guarantees right contractual that's the

10:42
key

10:42
all right so let's talk about some of

10:44
the brutal facts about

10:46
transferring and all of that stuff

10:48
number one

10:49
it's it's a non-taxable event regardless

10:52
of the type of account

10:53
all right cost basis does transfer

10:57
um if you're taking money out of an

11:00
annuity it's a

11:01
it's a last-in first-out gains first

11:04
taxation

11:04
ordinary income levels i'm not saying

11:06
you have to but if you decide to take

11:08
money out but if you're just

11:09
transferring from one to the other

11:11
then it's a non-taxable event the other

11:14
thing that you have to understand is

11:15
is if you came to me and you said you

11:16
know what stan i want to train i've

11:18
sold this annuity a long time ago and

11:20
i'm thinking about transferring it can

11:22
we run some numbers and see if we can

11:24
transfer

11:24
we'll run those numbers but at the end

11:26
of the day during the during the

11:27
application process inside the

11:31
application

11:32
you we have to do my team will have to

11:34
do a side-by-side comparison

11:36
of the annuity that you have to the

11:38
annuity that you're going to

11:40
okay and it has to be in your favor

11:42
mathematically not the agent's favor

11:45
which leads me to the next point which

11:47
you need to understand

11:50
if anyone says to you you need to

11:53
transfer this annuity because this new

11:55
annuity pays an

11:56
upfront bonus to transfer it

11:59
that's such garbage and and almost

12:02
i'm not going to say it's illegal but it

12:04
is in a lot of cases

12:06
you should never ever ever ever ever and

12:08
for agents that are listening to

12:10
to this turn the volume up please never

12:14
ever transfer an annuity because the

12:16
other annuity is offering an upfront

12:18
bonus

12:18
believe me when i say this there's no

12:21
philanthropist at annuity companies they

12:23
don't wake up in the morning

12:24
go you know what i think i'm going to

12:27
give some money away today

12:28
to the people because i'm in the

12:30
interest nobody does that

12:33
okay there's a hundred pennies in the

12:35
dollar so if they're

12:37
giving this up front bonus you know if

12:39
you're at the bad chicken dinner seminar

12:40
and you

12:40
and you nudge margin you're going you

12:42
know what marge they're giving away

12:43
money here this is pretty no they're not

12:46
okay it's part of the overall

12:48
contractual guarantee

12:49
and when we do the side-by-side

12:51
comparison in the in the application and

12:53
and we'll do that beforehand we won't

12:55
waste your time

12:56
we'll if you show me the annuity that

12:58
you have i'll tell you

12:59
if you have to stay i'll tell you how to

13:02
make

13:03
lemonade out of the lemon if it's a

13:04
lemon i'll tell you how to maximize the

13:07
policy

13:08
okay what you have to understand is well

13:10
i said this earlier

13:12
in the podcast annuity companies had the

13:14
big buildings for a reason they designed

13:16
these products so that you can't get out

13:18
of them we've already talked about the

13:19
three types

13:20
that are not transferable immediate

13:22
annuities deferred income annuities

13:23
qualified longevity annuity contracts

13:25
but even the ones that are deferred that

13:29
are transferable that can be

13:30
transferable they make it

13:32
not difficult but they it has to be in

13:35
your favor to transfer let's look at

13:36
multi-year guarantee annuities the cd

13:38
product

13:40
if you bought a five-year multi-year

13:41
guarantee annuity during that five years

13:43
just like a cd there's surrender charges

13:46
if you cash out but if you wait to the

13:48
five years or up and there's no

13:49
surrender charges

13:50
you can easily entrance in and it's it

13:53
is kosher and you can move it

13:55
to another multi-year guarantee annuity

13:57
and kick the tax puck down the ice

13:59
okay but when we get into the variable

14:02
and indexed annuities

14:04
that you currently own and somebody sold

14:06
you one of those with what's called an

14:08
income rider

14:09
and an income rider is an attached

14:10
benefit to a policy that

14:12
that creates a lifetime income stream at

14:14
a future date that you choose

14:16
okay um i've written a book on it go to

14:18
my site

14:19
the annuityman.com i'll send you a book

14:20
on income writers i've written the the

14:22
the go-to book in the industry on income

14:24
writers period i mean everybody uses it

14:27
and it tells the truth about it but the

14:28
point is this and and for the people

14:30
that are listening to

14:31
this on on the the podcast platform and

14:34
not the youth not watching this on

14:35
youtube

14:36
bear with me what i'm doing is i'm going

14:37
to draw a line down the middle of a

14:39
blank sheet of paper

14:40
just visualize that left hand side is

14:42
that accumulation value side right hand

14:44
side

14:45
is the income rider value side and

14:47
they're two separate calculations and a

14:48
lot of times the income rider

14:50
side will grow at a jimmy carter type uh

14:53
interest rate i love the people that

14:55
call me i just bought a 7

14:57
annuity no you didn't ernie you bought a

14:59
seven percent income rider

15:01
that you can't peel off the interest

15:02
touch or only you can only use it for

15:04
calculating future income that's okay

15:06
but jimmy carter's not in office and

15:08
that yield doesn't exist so stop

15:10
dreaming you know live the reality right

15:12
um

15:13
so i mean when you attach an income

15:15
rider

15:16
to a policy it's almost a policy

15:19
handcuff you

15:19
almost can't transfer it because

15:23
remember the side-by-side comparison

15:25
we've got in that process we have to

15:27
make sure that the

15:28
policy you're going to has higher

15:30
contractual guarantees than the policy

15:32
that you're leaving

15:33
okay and if you come to me says stan i

15:36
hate this person that sold it to me and

15:38
i

15:38
this i hate the company whatever you

15:40
hate blah blah it still doesn't mean

15:42
you should transfer it and one of the

15:45
things that we're going to do is we're

15:46
going to call the carrier we're going to

15:47
have you call the carrier with our

15:49
instructions

15:50
and ask them you know

15:53
does it make sense for me to move or

15:55
we're going to coach you through that

15:57
the point is give an example here's a

15:59
story

16:00
if someone says stan i've got an indexed

16:03
annuity or a multi-year guarantee

16:04
annuity doesn't have a writer on it

16:07
but i want to you know transfer that to

16:10
an immediate annuity

16:11
that's a great example i just want to

16:13
income i want to take the migra the

16:14
index annuity and transfer it to

16:16
immediate annuity one of the things that

16:18
we have to do

16:19
from a fiduciary standpoint is call the

16:21
carrier that you're currently at

16:23
that company that currently has the

16:24
policy and say what's your immediate

16:26
annuity payout

16:28
and then we go shop all the other

16:29
immediate annuity carriers out there

16:31
and you get to choose the highest

16:33
sometimes the carrier that you're at

16:35
has the highest contractual guaranteed

16:37
immediate annuity payout that's a great

16:39
example of

16:39
you might not need to transfer you might

16:41
need to just stay there

16:43
because once again do i want to sell you

16:46
an annuity yes that's what i do for a

16:48
living but only if it's suitable and

16:49
appropriate and if we find out

16:51
that the carrier that you're at has a

16:53
better deal than

16:55
where we can go after shopping all

16:57
carriers then you got to stay

16:59
that's part of my job okay so just

17:02
remember annuity companies designed

17:03
these deferred annuities

17:05
especially variable and index with the

17:07
riders to keep you there

17:09
um what i would be on the lookout for

17:11
with all the transferring stuff and and

17:14
you know again agents there's some good

17:17
agents out there and i put

17:19
i toy with them but there's some really

17:20
horrific stuff going on out there

17:22
and you know i would tell you a couple

17:25
things to watch out for

17:26
number one if if they are pitching up

17:29
front bonus to transfer then they don't

17:30
know what they're doing they're just

17:32
a scammer they're a you know they're

17:33
just a sociopath they're trying to get

17:35
the sale

17:36
period they're not going through the

17:37
process from a fiduciary standpoint

17:39
to make sure it's in your best interest

17:40
to do that um

17:43
oh and they're not analyzing the current

17:44
policy that you have

17:46
with the understanding that they might

17:47
come to the conclusion like i do a lot

17:50
that the math works for you to stay hey

17:52
it is what it is

17:54
and you have to be careful when you talk

17:56
about transferring annuities or if you

17:58
even bring it up to a lot of agents

17:59
they're pouncing on you

18:01
or you'll notice that once you you get

18:03
to the end of surrender charge period

18:04
they're

18:05
already wanting you to transfer instead

18:07
of asking you hey what do you want the

18:08
money

18:09
you know what do you want to do with the

18:10
money give you a great example a lot of

18:11
people that buy these multi-year

18:12
guarantee annuities

18:14
the fixed fixed rate annuities the cd

18:16
type annuities

18:17
from for me and we sell more than

18:18
anybody i mean i wrote the book on that

18:20
one too

18:21
i'll send it to you um at the end of

18:23
that surrender charge time period i'll

18:25
call people and say okay hey ernie you

18:28
had this you know it was a five-year

18:29
product we're at the end of the five

18:30
years of coming up on it

18:31
what do you want to do do you want me to

18:33
send you the money back i can do that

18:35
or do you want to transfer it i can do

18:37
that or do you want to convert it into a

18:38
lifetime income stream if you do

18:40
then i'll call your carrier get their

18:41
rates and then i'll shop all the other

18:43
rates

18:43
to find the highest contractual

18:44
guarantee for your situation

18:47
that's it i mean that's that's the way

18:48
to do it i mean but you should be on the

18:50
lookout for

18:51
you don't transfer for transfer sake you

18:52
don't transfer because

18:54
it sounds too good to be true remember

18:56
with annuities if it sounds too good to

18:57
be true it is

18:58
every single time

19:02
if we get to the point and if you have

19:04
an annuity out there if you're listening

19:05
to this or watching this on the on the

19:07
youtube channel

19:08
if you have an annuity that you want me

19:09
to review just just understand i'm going

19:11
to shoot it straight and as

19:12
my grandfather said a long time ago if

19:14
you if you just tell the truth stan

19:16
you don't have to remember anything i'm

19:17
going to be really factual with you

19:19
um if you haven't caught that by now

19:21
there's no sales pitches you know

19:22
the annuityman.com we're very proud to

19:24
say it's where annuities are bought not

19:26
sold we don't sell them we give you all

19:27
the information we allow you to run the

19:29
quotes we do customize quotes for you

19:31
i talk to you one-on-one i send you the

19:32
books you watch the videos you listen to

19:34
podcasts

19:35
and then we leave you alone to make an

19:36
informed decision on your terms and your

19:38
time frame there's never an urgency to

19:39
buy an annuity

19:40
the only urgency is to fully understand

19:42
it and when we're talking about

19:43
transferring annuities the one you

19:45
currently have

19:47
you need to go really slow you need to

19:49
go super slow

19:50
there's no urgency to transfer it even

19:52
though agents salivate and

19:54
you know i say pavlov's dog i'm not sure

19:56
even kids even read that stuff anymore

19:58
did they

19:59
do even they even know what the pavlov

20:01
experience is for all of us old people

20:02
out there that listen to it we're like

20:04
yeah pavlov's dog you know ring the bell

20:06
and they drool

20:07
but pavlov's dog theory and annuity is

20:10
tr

20:11
is mentioning the word transfer to most

20:13
agents they just go

20:14
oh i'm gonna transfer it oh let's

20:16
transfer it it's

20:17
in more condition no most of the time

20:20
most of the time when you show me your

20:21
annuity it's probably not transferable

20:24
you know my guess can be that my goals

20:26
are simple transfer because

20:27
you know there's no moving parts there's

20:29
no attachments it's a rate and at the

20:31
end of the term you can transfer to a

20:32
mic

20:32
but once you start attaching income

20:34
riders and all kinds of stuff like that

20:36
to variable and index annuities you got

20:39
to be real careful you can't

20:41
you can't believe the agent's pitch you

20:43
got to talk to someone like me that's

20:45
brutally factual in a third party

20:46
you got to talk to the actual company

20:48
that has the policy and get the answer

20:50
questions answered just just be very

20:53
careful

20:53
remember that annuities are commodity

20:56
type products

20:57
that if you said hey i want to transfer

20:59
and it did look like

21:01
it was suitable and appropriate to

21:02
transfer we're going to shop all

21:03
carriers for the highest contractual

21:04
guarantee

21:05
people always say what's the best

21:06
annuity the best annuity is the one that

21:08
provides you the highest contractual

21:09
guarantee i represent pretty much every

21:10
carrier so

21:11
i'm going to shop all carriers um

21:14
for you know the highest contractual

21:16
guarantee think about it as shopping

21:18
you know for a plane ticket um the other

21:21
thing

21:21
you need to know about annuity transfers

21:23
and this is a big one because

21:25
there's a lot of people that bought

21:27
annuities didn't know what they're

21:28
buying

21:28
you know which i always say if you can't

21:30
explain it to a nine-year-old don't buy

21:32
it no offense to nine-year-olds

21:33
but when it comes to the transferring of

21:35
annuities you know obviously spias diaz

21:37
and culax immediate annuities deferring

21:39
common annuities culax qualified

21:40
longevity annuity contracts aren't

21:42
transferable

21:42
so that's not part of the discussion but

21:44
when you have a multi-year guarantee

21:46
annuity an indexed annuity

21:48
or variable annuity and you're thinking

21:50
about transferring it then

21:51
we need to talk especially if it's the

21:53
fixed index annuity or variable annuity

21:55
because a lot of those products

21:57
last i think last set i saw was was over

22:00
60

22:01
i believe it was um don't hold me to

22:03
that but it was a high number of those

22:05
policies

22:06
are sold with an attached income rider

22:08
and if you're if it's sold with an

22:10
attached income rider and you've had

22:11
that policy

22:12
for a while you're probably gonna have

22:13
to stay in that policy if you want to

22:16
um take the benefits from the policy or

22:19
maximize the benefits

22:20
understand that when you um you know

22:23
when you transfer an annuity and this is

22:25
a really good point

22:26
i'm glad i thought of it just came to me

22:28
bing um

22:30
let's just say you have an index annuity

22:32
with an income rider and a variable or a

22:33
variable annuity with an income rider

22:35
and

22:35
the accumulation value is worth 200

22:38
000 on and then the income rider values

22:41
were three hundred thousand

22:43
and if you have one it's you're going

22:44
uh-huh that's kind of right it's

22:46
the income rider value is always higher

22:48
why is it always higher

22:49
is because the only way to access that

22:52
large amount of money is to stay in the

22:54
policy

22:55
when you transfer a fixed index annuity

22:58
or variable annuity with an income rider

23:00
the income rider value does not transfer

23:03
let me repeat it again

23:05
the large chunky yummy huge

23:08
income rider value that's been growing

23:10
at this jimmy carter interest rate

23:11
that you thought was a real interest

23:12
rate but it's not that side

23:14
does not transfer it's going to be the

23:16
accumulation value

23:18
that transfer which is the reason that

23:20
when you do a side-by-side comparison

23:22
a lot of these policies with income

23:24
riders are not transferable

23:26
okay um and it's real it's very

23:29
important to understand that

23:30
and that's the reason that annuity

23:32
companies love it when you attach an

23:34
income rider to the policy because

23:35
honestly

23:36
they're gonna they're they've got you

23:38
and if in order to

23:40
to access that benefit that large amount

23:42
the the biggest number in that policy

23:44
you've got to stay in the policy the

23:45
other reason

23:46
and the reason annuity companies have

23:48
big buildings and one of my staff said

23:49
hey stan say instead of annuity

23:51
companies have the big buildings say

23:53
they have their sponsor sports stadiums

23:55
for a reason which i thought was good

23:57
it's because they don't give anything

23:58
away and that annual fee for the writer

24:00
is for the life

24:01
of the policy life of the policy

24:04
um so i hope i've i've covered a lot of

24:08
this

24:09
for you i this is one of those topics

24:11
that is really not do-it-yourself

24:13
when you're talking about transfer and

24:15
annuity should i

24:17
is it the right move um that's something

24:20
i mean you might be the smartest person

24:21
on the planet you might be you know have

24:23
all the degrees on the planet rose

24:25
scholar the whole thing but if you're

24:26
not in the annuity business like i am

24:27
and been living and breathing it for a

24:29
while

24:30
you're not going to make a good decision

24:31
so i would encourage you to at least run

24:33
it by me

24:34
send me the statement send me a copy of

24:36
the statement not the policy the

24:38
statement

24:38
i'll take a look at it and i'll give you

24:40
a quick answer no you need to stay and

24:41
this is what you need to do

24:42
or we'll get on the phone and i'll say

24:44
okay tell me a little bit more about

24:46
it we might get on the phone with your

24:47
current annuity company and solve

24:49
everything and go through the details

24:51
of of should it make sense and and maybe

24:54
there's some things that your carrier

24:55
that you currently have

24:56
that are at that you didn't know about

24:58
there might be some um guarantees that

25:00
you need to know about

25:01
so um i guess that's it i could keep

25:05
going forever

25:06
obviously i'm standing now i know this

25:07
stuff inside out but i'm trying to strip

25:09
it down to the basics

25:11
um just remember that some poli some

25:13
annuity types are not transferable

25:15
some are but just because it's

25:17
transferable doesn't mean you need to

25:19
transfer it

25:20
to another annuity i mean just because

25:23
you can

25:24
doesn't mean you should i mean that

25:26
sounds like something my mama says i'm

25:27
walking out the door as a teenager

25:29
asking for the car keys

25:30
right geez i mean but seriously

25:34
if you have an annuity and you're

25:36
thinking about it or someone has

25:37
approached you and said

25:38
you really should transfer to my nudity

25:40
because my news

25:42
and all that stuff call me

25:45
come on because you don't want to make a

25:47
mistake you might have already

25:49
made one with a policy you want don't

25:51
want to make a second one

25:53
or you might have a really good policy

25:54
you don't even know about and i'm going

25:56
to tell you about those benefits

25:58
that's living the reality not the dream

26:00
that's that's fun with annuities how

26:02
how can annuities be fun annuities can

26:04
be fun

26:05
when you learn about them when you learn

26:07
the details good bad the limitations the

26:09
benefits all of it

26:11
so you can make an informed decision

26:13
annuities are fun because they provide

26:14
lifestyle

26:15
remember annuities were put on the

26:17
planet for lifetime income they're the

26:18
only product that can do that

26:20
so put that in the back of your head if

26:21
you need an additional pension payment

26:23
like your social security payment which

26:25
oh by the way

26:26
is an annuity um you know

26:29
just remember yeah annuities are like

26:32
yeah quotes are like a gallon of milk

26:33
annuities

26:34
are commodity products you got to shop

26:36
all carriers and things change and

26:37
they're fluid

26:38
but when it comes to transferring

26:41
annuities

26:42
you need to put the brake sound break

26:45
sound

26:46
okay stop slow down

26:49
let's take a let's take an analytical

26:51
approach

26:52
to look at the policy you have and the

26:54
one that you are thinking about going to

26:55
or the one that we actually

26:57
might say this is better contractually

26:59
and let's do the due diligence so you

27:01
can make an informed decision

27:02
and with that that uh i'm stan the

27:05
annuity man

27:06
and this is fun with annuities and i

27:08
hope to see you

27:09
next time either watching me do this on

27:11
the fun with annuities youtube channel

27:13
or on all major podcast platforms

27:16
see you next time

27:22
thanks for listening to fun with

27:24
annuities please hit the subscribe

27:26
button and make sure to go to my site

27:28
at the annuityman.com where you can run

27:31
your own spea dia and

27:33
qlack quotes and see a live feed of the

27:35
best mega fix rates

27:37
in the country and even get indexed and

27:39
income writer quotes as well

27:41
you can also sign up for my six annuity

27:44
owner's manual books and i'll ship them

27:46
for free and under no obligation

27:48
i also encourage you to schedule a

27:50
one-on-one call with me

27:52
stan the annuity man so we can have a

27:54
full discussion

27:56
of your specific situation it will be

27:58
the best

27:59
brutally factual and truthful advice you

28:02
will ever get and that's one guarantee

28:04
you should definitely take advantage of

28:06
so join me next time for the number one

28:08
annuity podcast

28:09
on the planet fun with annuities

28:16
[Music]

28:22
you