035 Should you transfer your 401k retirement plan to an annuity?

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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 with your

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host me yours truly

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stan the annuity man america's annuity

0:45
agent licensed in all 50 states

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and i'm glad you joined us for today's

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topic it's a good one so let's

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jump right in today's topic is should

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you take your 401k

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plan and transfer it to an annuity

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now let's just kind of go backwards a

1:02
little bit

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the stats are huge it's a demographic

1:06
tidal wave

1:07
of baby boomers that reach the age of 65

1:11
every single day in the united states of

1:13
america

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now typically when people get to ch what

1:16
i call

1:17
chapter two of their life they are

1:19
looking for

1:21
more guarantees they're looking to

1:23
transfer risk

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not everybody but a lot of people

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because you've worked you've saved

1:27
you've

1:27
you've been through market cycles you've

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been through market gyrations you've

1:30
been through all that stuff

1:32
and you're like wow you know i just kind

1:34
of need more income to combine

1:36
with my social security in the future

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and all that stuff you're looking for an

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income for most people

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but that doesn't mean every single

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person

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that has a 401k should

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transfer all their money to to an

1:51
annuity now obviously

1:53
agents and advisors are salivating

1:55
because there's so much money in motion

1:57
that's what they call in the business

1:58
money in motion meaning that

2:00
you have this 401k and then you know

2:03
you're leaving the company now you've

2:04
got to roll it into an ira which by the

2:06
way is a non-taxable event

2:08
so what do you do with that money do you

2:10
keep it in the market you keep it in

2:12
mutual funds

2:13
now interestingly enough in this country

2:17
less than 10 percent of all private

2:19
companies even

2:20
offer pensions anymore i mean back in

2:23
the day you got the gold watch and you

2:24
got the pension got the lifetime income

2:26
stream paid by the company

2:27
a while back they switched from what

2:29
those are called as

2:30
a defined benefit plans to what we now

2:33
know

2:33
as a defined contribution plan and a

2:36
defined contribution plan

2:39
in english in in things we understand is

2:41
a 401k and a 401k in essence is

2:44
you know mutual funds and they're

2:46
getting a lot more choices but

2:47
you know most of the time it's just

2:48
mutual funds that you hope are going to

2:50
grow

2:51
the company probably matches and you've

2:54
been through some market gyration it's

2:55
pretty scary now

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currently in in the environment we're in

2:59
right now there's some

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legislation to put some annuity income

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type products inside a 401ks but that's

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going

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very very slow from the standpoint of

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implementation

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so getting back to do you need an

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annuity

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for your 401k assets the first thing you

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need to understand is when you say the

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word annuity when i say the word annuity

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when anyone says the word annuity

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that doesn't mean one product there's

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many types of annuities that do

3:24
different things so when people say i

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hate all annuities

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that's like saying i hate all

3:27
restaurants i hate all trucks i hate all

3:29
socks

3:30
i hate all shoes right i mean it doesn't

3:33
make any sense

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so you know when you're talking about

3:37
annuities

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you got to kind of drill down what are

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you looking to do what do you want the

3:41
money to do but that doesn't mean you

3:43
need an annuity now

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um just to digress a little bit i would

3:48
love to send you my books

3:50
uh i've written seven of them on on the

3:52
annuity topic uh six of them right now

3:54
their owner's manuals were shipping for

3:56
free so if you go to theanuityman.com

3:58
and sign up

3:59
i'll just ship you those for free you

4:01
can run quotes on our site etc

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but let's get back to the topic there's

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two questions you need to ask yourself

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if you need an annuity if you want to

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find out if you need an intuition you

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might not

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okay and the two questions are and if

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you've heard this before bear with me

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but this is how simple it is

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and by the way for the people that are

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listening to me on the podcast

4:22
um you know on spotify and itunes all

4:24
that stuff you can also go to fun with

4:26
annuities youtube channel and watch this

4:28
chaos while i'm

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why i'm yelling at the annuity fund can

4:31
scream and the will do not might do

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studios i mean i'm having some fun here

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but i'm passionate about this because i

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don't want you to make a mistake with

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your 401k assets so here are the two

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questions

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what do you number one what do you want

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the money to contractually do

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keyword contractually underline it

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highlight it

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okay and the second question is when do

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you want those contractual guarantees to

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start

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let me do it again what do you want the

4:56
money to contractually do

4:58
and when do you want those contractual

5:00
guarantees to start

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now when you have your 401k assets if

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you come to me and those two questions

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and

5:07
and the answers are well i won't i still

5:10
want market growth

5:10
then don't buy an annuity it's really

5:13
that simple

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annuities are contracts all variable

5:17
annuities have limitations on your

5:19
investment choices

5:20
in my opinion having worked for the big

5:22
firms morgan stanley ubs payne weber

5:24
dean witter

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all of those firms when you want real

5:27
market growth

5:28
real upside real potential never buy an

5:31
annuity

5:33
never ever buy an annuity okay so if

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your answer is i just kind of want a

5:37
reasonable rate of return i just kind of

5:39
want

5:39
some market growth i'm okay with some

5:41
risk then don't buy an annuity

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all right but if your answer is

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i want to protect the principal i don't

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want to lose a penny

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then you might need an annuity there are

5:52
two types that do that

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okay or if you say i need lifetime

5:56
income and i need it to start either

5:58
right now or down the road and i want to

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set it up for me and my spousal partner

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and i want it to pay joint life

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and i want to pay forever if one of us

6:05
dies i want it to continue uninterrupted

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and unchanged for the

6:08
surviving spouse's life and when they

6:10
die i want whatever money is left in the

6:13
account to go to the beneficiaries and i

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don't want the evil annuity coming to

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keep a penny

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then you might need an annuity so what

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do you want the money to contractually

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do

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when do you want those contractual

6:23
guarantees to start if it's market

6:25
growth or any type of growth or it's

6:27
five seven eight percent growth don't

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buy an annuity

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straight if that's it i don't care what

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anybody shows you hypothetical

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theoretical back-tested projected

6:37
hopeful agent nonsense unicorns chasing

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the butterflies

6:42
do not buy an annuity for market growth

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and if someone's pitching you

6:46
market upside with no downside or market

6:48
participation with with principal

6:50
protection

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they're pitching an indexed annuity

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which is a cd product and only half of

6:54
that statement's true

6:55
which is principal protection and that's

6:58
fine i sell more indexed annuities

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anywhere on the planet probably

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or close to it i haven't met people to

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sell more

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but it's a cd product period it's not a

7:08
market product so

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with your 401 k assets you have to be

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very specific with me and with yourself

7:17
on what you want the money to do and if

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you want an annuity which is a contract

7:22
not an investment don't believe me

7:24
you're going to get a policy in the mail

7:25
and it's a contract you buy it for the

7:28
contractual guarantees you own an

7:30
annuity for what it will do not what it

7:31
might

7:32
do so that doesn't mean you need to put

7:36
all your 401k in an annuity if it's

7:39
suitable and appropriate

7:40
the other thing that i've come up with

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and again if you've if you've read my

7:43
books or

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seen other videos you know i have a

7:46
standing nudey man youtube

7:47
video channel as well as the fun with

7:49
annuities youtube video channel

7:52
but the the stanley annuity man youtube

7:53
channel you can just type in standing

7:54
annuity man

7:55
in the search bar 300 plus videos and we

7:58
just keep adding them and adam and i

8:00
and i and i go over annuities but one of

8:03
the things i always talk about is the

8:04
acronym i've come up with called pill

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p stands for principal protection i

8:10
stands for income for life l stands for

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legacy

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and the other l stands for long-term

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care let me do it again principal

8:19
protection

8:20
income for life legacy long-term care

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confinement care

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if you don't need to contractually solve

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for one or more of those items in the

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pill

8:28
you do not need an

8:31
annuity of any type period

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in historic america's annuity agent top

8:37
agent in the country

8:38
written seven books on the subject okay

8:40
i i understand

8:42
believe me i know what i'm talking about

8:44
and if that means that when we talk and

8:45
you

8:46
go to my site you can schedule call with

8:47
me um 30 minutes you get me for 30

8:50
minutes one-on-one and it is going to be

8:51
brutally factual

8:53
it's not going to be touchy-feely it's

8:55
going to be let's talk about if you need

8:57
an annuity and if you do

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then let's figure out what type of

9:01
annuity will provide the highest

9:03
contractual guarantee which leads to the

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pill acronym

9:05
and those two questions that's the

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reason i always

9:08
ask the two questions because let's just

9:12
say

9:13
that we go through that you've set the

9:15
call you've run the quotes you went to

9:17
my site ran the quotes got the books

9:19
looked at the live fix rate feed that we

9:20
have on our site watched the videos

9:22
really educated yourself

9:24
then we got on the phone and we

9:25
determined that

9:27
you need a specific annuity type whether

9:29
it's a multi-year guarantee annuity an

9:31
indexed annuity a

9:32
deferred income annuity an immediate

9:34
annuity qualified longevity annuity

9:36
contract

9:36
i mean we're going to drill down and

9:38
we're going to find out which one is

9:40
going to provide the highest contractual

9:41
guarantee

9:42
but when we do that then i'm going to

9:45
shop

9:46
all carriers all carriers

9:49
for the highest contractual guarantee

9:51
think about

9:52
buying an annuity like when you buy a

9:55
plane ticket

9:56
you know i mean you go and buy the best

9:59
deal you put in how you want to travel

10:00
you know where you want to go when you

10:02
want to go when you want to leave when

10:03
you want to come back

10:04
and punch it in and everyone all the

10:07
carriers

10:08
quote quote on that and then you choose

10:10
the best deal right

10:11
same thing with annuities so if somebody

10:13
if if if there's

10:15
agents or advisors that have been

10:17
assigned by the company to come in and

10:19
talk about you

10:20
for rolling your 401k into an ira or

10:23
possibly annuities and they're showing

10:25
one product

10:26
they're either lazy they don't have

10:28
access to all carriers

10:30
or they want to go on a trip to bora

10:31
bora with a girlfriend okay if they sell

10:34
enough of it

10:36
people always ask me all the time stan

10:37
what's the best annuity i don't know

10:39
that

10:39
i don't even know if you need an annuity

10:40
but let's just say you do we come to

10:42
that conclusion

10:43
i still don't know what the best annuity

10:45
is because you know what

10:46
the best annuity is the one that

10:48
provides the highest contractual

10:49
guarantee

10:50
for your specific situation oh by the

10:52
way

10:53
annuity quotes are like a gallon of milk

10:56
meaning that they expire every seven to

10:57
ten days

10:58
you can lock them in during the

11:00
application process but if you if you

11:01
want to analyze it we might have to come

11:03
back and re-quote carriers

11:04
that's fine but i'm i'm tired of

11:08
this person said this was the best one i

11:10
get a call today great story

11:12
401k rollover okay large firm

11:15
this person was presented one carrier

11:19
one product was only shown one thing and

11:22
to make matters worse

11:24
they wanted this person to buy three of

11:26
them

11:27
so to take you know take six hundred

11:29
thousand dollars and buy

11:31
two hundred and two hundred and two

11:32
hundred okay

11:35
whatever i i was like that makes no

11:37
sense i mean

11:38
you can diversify with annuities as well

11:41
but here's

11:41
another thing you have to kind of put in

11:44
the back of your head i'm probably the

11:45
only person out here that's going to

11:47
tell you this

11:49
but the annuity industry does not want

11:51
you putting all your eggs in one basket

11:54
they do not want you to put

11:58
really more than 50 of your investable

12:00
assets

12:01
that include houses and cars and all

12:03
that guitars and all that stuff

12:04
we're talking about investable assets

12:06
non-qualified non-ira

12:08
accounts roth ira accounts traditional

12:10
ira accounts 401k 403b 457.

12:14
you know all that stuff okay the annuity

12:17
industry is is very

12:20
conscious of the fact that they do not

12:23
want my mom in st augustine florida

12:26
putting all their money into an annuity

12:28
the only way that it can get through is

12:29
if if the application is fictitiously

12:31
filled out which i tell you

12:33
get a copy application you know with us

12:34
you'll see that you'll see the

12:36
application okay

12:39
but the annuity industry does not want

12:41
you to have

12:42
more than 50 so let's just take an

12:44
example

12:46
i got a call the other day the guy has

12:48
800 000

12:49
in his 401k all right and i said okay

12:52
that's great and he's been pitched

12:54
seven hundred thousand dollars in an

12:56
annuity one annuity okay

12:58
like okay so the first thing i asked was

13:00
like tell me like the total investable

13:02
assets i don't wanna know the holdings

13:03
just tell me the investable assets

13:05
he said well i have about nine hundred

13:08
thousand dollars total that's

13:09
checking account ir you know 401k etc

13:13
and this person that that was

13:15
recommending was recommending 700 000

13:18
no if you have 900 000 what's half of

13:20
that 450

13:22
right so the annuity industry feels

13:24
comfortable

13:25
if it's suitable and appropriate and you

13:27
know we go through that process

13:28
for about 450 000 we can maybe push the

13:32
carriers if we give them a case you know

13:34
to make it 50 or 55

13:36
or whatever but you can't go all

13:39
in with annuities you just can't and you

13:41
shouldn't

13:42
because you have to look at it another

13:44
way as well

13:45
when you retire and you have your let's

13:47
just say you retire at age 65

13:49
all right you have to look at your life

13:51
expectancy and i know this is somewhat

13:53
morbid and i'm not the grim reaper but i

13:55
do want to

13:56
cover this you're 65 years old you you

13:59
have a 401k you roll it into an ira what

14:01
do you do with it now

14:03
you have to understand you have at least

14:04
20 more years

14:07
of life expectancy or more if there's a

14:09
medical breakthrough right so you have

14:11
to plan for that

14:12
which leads me back to my original point

14:14
about annuity annuities should never be

14:16
purchased for market growth so in if

14:18
you're retiring you have to keep some

14:21
stuff

14:22
in some market growth type products or

14:24
non-annuity products

14:26
but you can have 50-ish percent in

14:29
transfer risk

14:30
annuities whether it's for principal

14:31
protection or lifetime income stream

14:34
so that's the first thing be very

14:36
careful i mean the sharks are swimming

14:38
and they smell blood and the blood is

14:39
the 401k money rolling and it's a

14:41
lot okay so agents and advisors are

14:45
wanting to roll that

14:46
into annuities and of all types

14:50
okay but what you have to understand is

14:53
the annuity industry

14:54
doesn't want that in the there's a

14:56
there's a lot of good people out here in

14:57
the annuity industry

14:58
that won't allow you to put you know

15:00
over 50 of your assets in but there's a

15:02
lot of people that will

15:04
and unfortunately all those people seem

15:05
to call me that that's getting those

15:07
recommendations

15:08
so you just have to understand

15:10
proportion and allocation

15:13
and regardless of who you are regardless

15:14
of the risk you want to transfer because

15:16
in essence annuities are transfer risk

15:18
products

15:18
you're transferring the risk to the

15:20
annuity company to either provide you a

15:22
lifetime income stream that you can

15:23
never outlive by the way annuities are

15:24
the only product that can do that

15:26
and always tell people there's no roi

15:28
until you die because

15:29
roi is a return on investment because

15:31
you're transferring the risk

15:33
i mean we don't know the roi until you

15:34
die right but you can just buy annuities

15:37
for principal protection

15:38
multi-year guarantee annuities are the

15:40
cd of the annuity industry

15:42
okay fixed indexed annuities are a fancy

15:44
cd

15:45
but they both protect the principal

15:48
period end of story if that's what you

15:50
want to do and just get an interest rate

15:52
cd type interest rate

15:54
the problem with the index annuity story

15:56
in the pitch

15:57
is agents and advisors seem to push and

16:00
pitch it to where it sounds too good to

16:01
be true

16:02
just remember with annuities i don't

16:04
really care what type or

16:06
if it sounds too good to be true it is

16:09
every time

16:10
no exceptions period annuities or

16:13
contracts

16:14
the way that i think that um people with

16:16
401 k should start looking at annuities

16:18
when they retire

16:19
or if they're making decisions should i

16:21
transfer some of my 401k

16:23
to an annuity type you know is looking

16:26
initially at your income floor what is

16:28
your income floor that's your social

16:30
security that's a pension if you're so

16:32
fortunate

16:33
that's your dividend income that's

16:34
rental income that's whatever is hitting

16:36
the bank account every month

16:37
and then an annuity because it's the

16:39
only product on the planet that provides

16:40
a lifetime income stream that you can

16:42
never outlive

16:44
that's part of that okay so if you said

16:46
i need

16:47
5 000 a month to live on me and the y

16:49
for me and the spouse or me and the

16:50
husband

16:51
me and the partner then um

16:54
a thousand we but we need a thousand of

16:56
that we got four thousand sewed up but

16:58
we need another thousand that's where an

16:59
annuity can fit you can do a reverse

17:01
engineer quote

17:02
that solves for that thousand dollars

17:05
for the rest of your life now

17:07
inflation yeah that's the gorilla in the

17:09
room that's the little chip on the

17:10
shoulder

17:11
we have no idea what's going on with

17:13
inflation and there's not an annuity on

17:15
the planet regardless of what anyone

17:16
tells you

17:17
that can that can adjust accordingly

17:19
with inflation

17:21
so what i tell people to do is if

17:22
inflation hits or hyperinflation hits

17:25
then you know you we go and buy an

17:27
immediate annuity

17:28
to solve for that specific dollar amount

17:32
at that time so give you example the

17:33
five thousand dollar example we fill in

17:35
the gap with a

17:36
say an immediate annuity for solving for

17:38
a thousand dollars a month

17:39
okay and then let's just say

17:41
hyperinflation hits and we need another

17:43
700 then we do a reverse engineer quote

17:45
again

17:46
to buy an immediate annuity for the 700

17:48
for inflation by the way

17:50
you already own the best inflation

17:51
annuity on the planet which is social

17:53
security

17:54
now let's talk about another thing we

17:56
talked about 401ks and there are

17:57
you know those are defined contribution

17:59
plans and you got to make a decision

18:00
what do you want the money to

18:01
contractually do what do you want it to

18:03
do if it's market growth you don't buy

18:04
an annuity right

18:05
but for the people out there that are

18:07
listening and watching

18:09
on the fun with annuities podcast video

18:12
let's just say you're with one of the 10

18:14
companies 10

18:16
of the companies 10 companies that's

18:17
funny 10 of the private companies that

18:19
still

18:20
offer a pension to their dutiful workers

18:23
and i get a lot of these calls and i

18:25
encourage you to call me if this happens

18:27
to you

18:27
so you're getting to the finish line

18:29
they say okay we're either gonna give

18:31
you

18:31
six hundred thousand dollars lump sum or

18:34
we're going to pay you i'm making this

18:35
out at the

18:36
up three thousand dollars a month the

18:38
rest of your life so they're either

18:39
offering the lunch time you can roll or

18:41
they're offering

18:42
in essence a single premium immediate

18:44
annuity payment

18:46
that they that you know that they the

18:48
company that you work for is going to

18:50
back up

18:51
and and and pay you over the rest of

18:53
your life so

18:54
the question i always get is which one's

18:57
better

18:58
should i take the lump sum or should i

19:00
take the

19:01
single premium immediate annuity

19:02
lifetime income stream they're offering

19:04
not a good answer just bad sales pitches

19:06
right nod your head of course

19:09
but you need to you need to understand

19:11
and make a decision what you want the

19:13
money to do so if

19:14
if you get to that finish line and

19:16
they're offering the lump sum and you

19:17
say well i really don't need the income

19:18
take the lump sum and then go manage it

19:20
for growth or whatever you're going to

19:21
do

19:22
but if you say you know what i think we

19:24
need me and me and the spouse

19:26
needs the lifetime income stream and you

19:28
know it and

19:29
so the the call i get and i got one this

19:32
week

19:32
hey stan i've been getting i've been

19:35
shown this number

19:36
is this a good number is this a good

19:38
contractual guarantee

19:39
now what we will do pro bono for free no

19:42
obligation we won't bug you

19:44
and by the way on a side note you

19:46
schedule a call with me i'll never call

19:47
you out of the blue

19:48
okay i treat you like a pro because i am

19:51
a pro

19:52
i'm the number one agent for a reason i

19:54
i only will call you

19:55
if you schedule a call because i respect

19:57
your time um

19:59
but people people will say okay is this

20:01
a good deal so what i'll do is i'll run

20:03
an apples to apples quote

20:04
i'll have them send me you know you can

20:06
send me the offer and i'll look at the

20:08
way that the

20:09
immediate annuity is structured by the

20:10
way immediate annuities can be

20:12
structured 30 to 40 different ways

20:14
so i'll do an apple apples quote to to

20:17
see

20:18
if the street all of the carriers have a

20:20
better contractual guarantee than your

20:22
employer is

20:24
offering spoiler alert

20:27
your employer about i'd say 85 to 90

20:30
of the time that we've you know since

20:32
we've been doing this for decades okay

20:34
they offer the highest contractual

20:37
guarantee lifetime income stream and you

20:38
guys say wait a minute why would that be

20:40
why would

20:41
xyz corporation that's not in the

20:43
annuity business

20:44
offer a better lifetime income payment

20:47
then all of the big

20:48
carriers and the all the carriers you

20:50
love and and you know you see on tv with

20:52
the ads

20:52
they're guarantees here's the reason

20:55
when when they're offering that lifetime

20:56
income stream

20:57
they're making it so it's higher than

20:59
what i can quote all carriers for most

21:02
of the time because that company your

21:04
ex-employer

21:05
wants to hold on to that money and not

21:07
have to come up with that lump sum

21:09
if you think about it if you think

21:10
logically about it it makes sense

21:13
so i'll do that apples apples quote and

21:16
and i

21:16
85 i'd say at least 85 of the time your

21:20
company that your ex-employer is going

21:22
to offer a higher pension plan payment

21:24
so then the decision is if you still

21:26
need income

21:26
is do you believe that your employer

21:29
ex-employer

21:30
has the claims paying ability to back up

21:32
that lifetime income stream

21:33
maybe they do maybe they don't if

21:35
they're absorbed if they go out of

21:36
business and they get absorbed by the

21:38
pension benefit guarantee corporation

21:40
all bets are kind of off on what that

21:42
guaranteed income stream would be

21:44
so if you don't feel comfortable with

21:45
the claims paying ability the size the

21:48
you know the industry they're in you

21:49
just don't know if they're going to be

21:50
around

21:51
then you might want to take the lump sum

21:54
and then buy the immediate new annuity

21:56
on the outside

21:57
okay but i'm just letting you know we

21:59
will do those apples to apples quotes

22:01
and if you're with a big fortune 500

22:03
type company

22:04
solid then i'm going to tell you stay

22:07
there take the lifetime income stream

22:08
take the higher quote

22:09
because you own a new annuity for what

22:11
it will do not what it might do

22:13
so the will do is the contractual

22:14
guarantee if i can offer that

22:16
off you know shopping all carriers then

22:18
fantastic then you're going to be my

22:20
client and you're going to be happy

22:22
but if someone else if an employer is

22:25
offering a better

22:26
payout then you got to go with that if

22:28
if they are if they're a strong company

22:30
because you're buying an annuity and

22:31
you're buying the highest contractual

22:33
guarantee

22:34
period now the other thing that i kind

22:36
of want to cover and i know i'm getting

22:37
in the ways i do encourage you to go to

22:39
my site it is

22:40
user friendly okay the annuityman.com

22:43
and you can like i said get my books you

22:45
can use our calculator you can run

22:47
quotes on your own you can see live

22:48
fixed rate feeds you know you don't have

22:50
to interact with anybody but if you want

22:52
to interact then you just schedule call

22:54
with me and i'll call you right on the

22:55
money because i'm ocd like that

22:57
you know a little bit of a military

22:58
background parents sent me to military

23:00
school so i'm on time and when i

23:02
hang my uh shirts and everything's like

23:04
two inches apart my wife's like oh my

23:06
gosh

23:07
she's been married to me for 32 years

23:09
bless her heart but i'll call you right

23:11
on time

23:11
and it's not a salesy thing i'm gonna

23:13
we're gonna talk about your

23:14
your situation and you know i'm gonna

23:17
leave you i'm gonna give you all the

23:18
information you need and then i'm gonna

23:20
leave you alone and then you're going to

23:21
tell me

23:22
if you want to buy by the way if you

23:23
want us if we go through the process

23:26
and we determine that you need an

23:28
annuity and we determine the type

23:30
and we run the quotes and we have the

23:32
conversation then my team will take care

23:34
of all the paperwork from start to

23:35
finish and oh by the way

23:37
if you decide that the annuity that we

23:39
that we show you we're going to shop all

23:41
carries

23:41
works then we'll take care of that

23:43
paperwork and it is a

23:45
non-taxable event it will not

23:48
trigger any taxes transferring from the

23:50
401k or ira

23:52
to the annuity carrier so i want

23:55
i want that to be very clear that you

23:58
know

23:58
it's it's not going to trigger any taxes

24:01
money's not going to hit your hands

24:02
money's not going to touch my hands it's

24:03
going to go from

24:04
you know the 401k to the annuity company

24:07
that you choose or if it's annuity

24:08
companies if it's a laddering situation

24:10
or a multi multiple carrier situation

24:12
that we come up with

24:14
then that's what we'll do okay so just

24:16
just to let you know we do it turn key

24:18
and we're licensed in all 50 states

24:20
but boy are we getting ahead of our skis

24:22
a little bit here going back to the

24:23
original premise

24:25
do you transfer your 401k to an annuity

24:29
it really comes down to what you want

24:31
the money to do remember what i said

24:33
remember that and if it's if it's income

24:35
do you want it

24:36
single life income do you want a joint

24:38
life income

24:39
um you know remember the pill p it

24:42
stands for principal protection i stands

24:43
for income for life l stands for legacy

24:45
and other l stands for long-term care

24:47
remember the two questions what do you

24:48
want the money to contractually do

24:50
when you want those contractual

24:51
guarantees to start

24:54
so i know i've thrown a lot at you you

24:56
know it's a big decision you only make

24:58
it once

24:59
be careful shop around you know if

25:02
annuities are appropriate then shop all

25:04
carriers get

25:05
quotes take your time always tell people

25:07
this that

25:09
there's never an urgency to buy an

25:11
annuity the

25:12
urgency is to understand the annuity

25:15
limitations benefits good bad

25:18
all of it and if you want to see a

25:20
specimen policy before you sign the

25:22
paperwork meaning the policy you're

25:24
going to get without your name on it but

25:25
the actual verbage we'll send you that

25:28
and any honorable agent or advisor would

25:30
would send you that as well so

25:34
it's a lot right i mean i'm going 100

25:36
miles an hour i'm energetic i love what

25:38
i do i'm staying the annuity man i'm

25:39
america's annuity agent i want to talk

25:41
to you i'm not going to sell you i'm not

25:42
going to i pitch you but i am going to

25:44
give you

25:45
the brutal truth you know somebody

25:47
somebody a long time ago wrote and said

25:49
standing nudity man is the walking

25:50
middle finger of annuity truth

25:52
that might be that might be a little

25:54
abrasive but i am i

25:56
embrace that because it's factual uh i

25:59
am passionate what i do i know what i'm

26:01
talking about

26:02
i don't need to sell another annuity in

26:04
my life to to live a good life i'm

26:06
fortunate for that

26:07
but i like what i'm doing and i like

26:09
what we're doing here the annuity man

26:10
which is

26:11
changing the game to pie in the sky

26:13
hypothetical theoretical back tested all

26:15
this dream stuff

26:16
you know i'm going to tell you here buy

26:18
the steak not the sizzle

26:20
buy the contractual realities because

26:22
instead of the dream

26:23
because you're going to own the

26:24
contractual realities you know it's

26:26
really that simple

26:27
so with that being said i encourage you

26:30
if you have if you're

26:30
at the at the finish line first of all

26:33
congratulations

26:34
you worked you saved you got this big

26:36
401k

26:37
you've saved all these assets you

26:39
encourage you go to my site and schedule

26:40
a time

26:41
with for us to talk but i want you to i

26:44
want you to do a couple things i want

26:45
you to celebrate the fact that you got

26:47
to the finish line i want you to

26:48
understand that there's no u-hauls

26:50
behind hearses

26:51
and when i say that i want you to live

26:52
your life you know we don't know how

26:54
long we're going to be here i'm not

26:56
going to get too philosophical

26:57
but i do have clients that call me and

26:59
say man i give a million dollars to feel

27:01
better

27:01
so you know go live your life go enjoy

27:04
your family go travel go do the things

27:06
you do and i know at the time of this

27:07
taping

27:07
we're going through some tough things in

27:09
the country with with covet and the

27:11
virus

27:12
but you know it's a moment in time and

27:13
and that will eventually pass

27:15
we live in a great capitalistic country

27:17
there's going to be there's going to be

27:18
companies out there that are going to

27:19
figure out

27:20
how to get us through this and get some

27:22
vaccines in there so i'm optimistic

27:24
you should be optimistic you have a 401k

27:27
what do you do with it you should be

27:28
optimistic

27:29
but you should be very very specific on

27:32
what you want the money to do

27:34
so with that thanks for joining me join

27:37
me next week

27:38
on the number one annuity podcast

27:41
yes we are the number one annuity

27:43
podcast on the planet

27:45
and we just happen to call it fun with

27:48
annuities

27:53
thanks for listening to fun with

27:55
annuities please hit the subscribe

27:57
button and make sure to go to my site

27:59
at the annuityman.com you can run your

28:02
own spea dia and culat quotes

28:05
and see a live feed of the best mica fix

28:07
rates

28:08
in the country and even get indexed and

28:10
income rider quotes as well

28:12
you can also sign up for my six annuity

28:15
owners manual books and i'll ship them

28:17
for free

28:17
and under no obligation i also encourage

28:20
you to schedule a

28:21
one-on-one call with me stan the annuity

28:24
man so we can have a full discussion

28:27
of your specific situation it will be

28:29
the best

28:30
brutally factual and truthful advice you

28:33
will ever get and that's one guarantee

28:35
you should definitely take advantage of

28:37
so join me next time for the number one

28:39
annuity podcast on

28:41
the planet fun with annuities

28:58
you