040 Your 4 Choices at the End of a MYGA Term

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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 the number

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one annuity podcast on the planet i'm

0:43
your host

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stan the annuity man america's annuity

0:46
agent licensed in all 50 states

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including the one that you're sitting

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in just welcome to everybody

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to another version of fun with annuities

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on and we're filming this as well if

0:57
you're listening to

0:58
the podcast on all of the major

1:00
platforms we do film it on the phone

1:02
with annuities youtube channel and also

1:04
have a stan

1:05
the annuity man youtube channel just

1:07
putting out a lot of good content for

1:08
people to educate them and we are

1:10
filming this and the will do not might

1:13
do studios on the annuity fund cam and

1:15
before anyone panics out there yes i do

1:17
have a logo

1:18
shirt or you know i always wear logos

1:20
logo hats

1:21
that's the stand the annuity man

1:22
official sweatshirt for all those people

1:24
watching

1:25
and for people in podcast land some

1:27
maroon sweatshirts pretty cool

1:29
so let's get to today's topic which is a

1:31
very very important one

1:33
and it's about multi-year guarantee

1:34
annuities and the topic is

1:37
what are your four choices at the end of

1:39
a miga term multi-year guarantee annuity

1:41
term because

1:42
multi-year guarantee annuities just to

1:45
kind of go backwards a little bit

1:47
and update people that don't know what

1:48
they are

1:50
it's the annuity industry's version of a

1:52
cd um

1:54
when people said they hate all annuities

1:56
my first question is oh so you hate cds

1:58
right

1:59
no i don't hate cds stand the annuity

2:01
man well then you can't hate annuities

2:03
because multi-year guarantee annuities

2:05
um are in essence the cd the difference

2:08
between

2:09
a multi-year guarantee annuity and a cd

2:12
the two primary differences

2:13
is number one the backing cds have fdic

2:17
insurance which is the best backing you

2:19
can get because f stands for federal f

2:21
stands they can

2:22
taxes and get the money but state

2:24
guarantee funds back up multi-year

2:26
guarantee annuities but

2:27
you really shouldn't look at that you

2:29
should look at the claims paying ability

2:30
of the carrier and if they can back up

2:33
the guarantees that they are

2:34
offering contractually so multi-year

2:37
guarantee annuities

2:38
um can be purchased as short-term as

2:41
incur at the time of this taping

2:43
two years and back in the day when

2:44
interest rates a little bit higher

2:46
you could buy you know one year but

2:49
right now it's a two year

2:50
and they can go as far out as 10 plus

2:53
years now

2:54
currently at the time of this taping and

2:55
i'm telling people hey we probably don't

2:57
need to go

2:58
farther out than five years if you're

3:00
doing a laddered scenario of buying

3:02
multiple annuities with different

3:04
maturity dates um i can go maybe

3:07
that last ladder on a seven year run

3:10
like a seven year duration

3:11
but typically that ladder that we're

3:13
doing right now is a two three and a

3:15
five or two three four and a five year

3:17
because five you're just looking at just

3:19
basic yield curve analysis

3:21
um the five year that's kind of where

3:24
the sweet spot is that's kind of where

3:25
you're getting the most bang for the

3:27
buck because if you lock in farther out

3:29
you know six or seven or eight years the

3:30
carriers aren't rewarding you with more

3:32
yield to do that

3:33
so um let's talk about

3:37
migas in general are the most or one of

3:39
the most simplistic products there's no

3:41
moving parts there's no market

3:42
attachments

3:43
there's no annual fees there's no gotcha

3:45
fees there's no hidden fees

3:47
now with all annuities commissions are

3:49
paid

3:50
uh by the company one time in this case

3:52
to on mygus

3:54
to the to the k to the agent that writes

3:56
the business or the advisor hopefully

3:58
that's me hopefully you choose me if you

3:59
want my guess

4:00
because we sell more than anybody on the

4:02
planet and oh by the way you can go to

4:03
my site at theannuityman.com and there's

4:05
a live micro feed that you can look at

4:07
24 7 365

4:08
at your leisure and you don't have to

4:10
sign up for it you can just go there

4:12
punch in your

4:13
you pull it up and all there's two

4:15
questions what state you live in you put

4:16
that in

4:17
you click that and then what's the

4:18
duration you know three or four or five

4:20
and you can change that and go back and

4:22
forth and look around

4:23
and that's a live feed of the best rates

4:25
on the planet and if you want to buy one

4:27
we take care of the paperwork start to

4:28
finish if it's an ira it's a non-taxable

4:30
event transfer or if it's a

4:32
non-ira you can just write a check or

4:34
wire the money

4:35
whatever and then with with multi-year

4:36
guarantee annuities

4:38
there's just there's some flexibility at

4:40
the end of the term which is what we're

4:42
talking about today

4:44
so you had really have four primary

4:47
choices when a multi-year guarantee

4:49
annuity uh

4:51
is at the end of its term so let's just

4:53
take an example that you

4:54
purchased a five-year multi-year

4:56
guarantee annuity what does that mean

4:58
you're going to get a guaranteed annual

4:59
interest rate

5:00
every single year for five years now at

5:02
the end of the surrender charge time

5:04
period and typically by the way

5:06
those surrender charge time periods are

5:09
um

5:10
are pretty predatory and pretty high so

5:13
for example i'll give you an example for

5:15
most five-year

5:17
multi-year guarantee annuities the the

5:19
surrender charge will be like the first

5:21
year nine percent the second year eight

5:22
percent

5:23
you know the third year seven and six

5:25
and five and declining but so it's it's

5:26
pretty predatory

5:27
if you just pivot in the middle of the

5:29
contract and say well i just want all my

5:31
money back stand that's

5:32
you can do that but you know that

5:33
there's surrender charges and there's

5:35
two reasons for surrender charges

5:37
number one the company has to lock in

5:39
those guarantees and they have to

5:40
back up those guarantees so they need

5:42
you to stay in the policy number two

5:44
if you do back out of the policy that's

5:47
one way to recapture the commission

5:50
talking about commissions for just a

5:51
second i had a really good conversation

5:53
with my

5:53
ceo today uh director of operations and

5:55
we were talking about

5:57
um people are always asking i had a

5:59
journalist call and

6:00
ask about commissions on annuity

6:02
products they're all built

6:04
in to annuities in other words if you

6:06
put a hundred thousand dollars in a

6:07
multi-year guarantee annuity or any type

6:09
of annuity there's

6:10
six primary types um then you're going

6:13
to see a hundred thousand dollars go to

6:14
work for you did the agent get paid

6:15
absolutely

6:16
you have to understand that the

6:18
commissions on annuities the the more

6:20
simple the product the less the

6:21
commission more complex the product the

6:23
higher the commission the longer the

6:24
surrender charges

6:25
the higher the commission the shorter

6:27
the surrender charges the lower the

6:28
commission

6:29
but commissions are paid from the

6:31
company's reserves just like they pay

6:33
you know heating bill lighting bill air

6:34
conditioning bill paper bill

6:36
shipping whatever it's just part of the

6:38
overall cost of

6:40
issuing the annuity you know people get

6:42
caught up on that but that's really

6:44
the truth and my ceo um she had a really

6:46
i mean she said yes just like

6:48
any type of office expense or

6:50
administrative expense

6:51
and i said that's a really good way to

6:53
to frame commissions

6:55
um and oh by the way these multi-year

6:56
guarantee annuities because they're so

6:58
simplistic

7:00
uh the commissions are really low i mean

7:01
depends on the carrier depends on the

7:03
duration

7:04
but it could be as low as half of one

7:05
percent which in math

7:07
with industry terms 50 basis points or

7:10
as high

7:10
as say 2 ish it depends on the carriers

7:14
i mean

7:15
the annuity industry is like herding

7:16
cats i mean yes the products are all

7:18
commodities

7:19
yes there's no better annuity than

7:22
another annuity

7:23
but the carriers aren't uniform and how

7:26
they

7:27
um how they do things let's just put it

7:29
like that and that's okay

7:30
because we're very transparent with

7:32
everything um if you want to see a

7:33
specimen policy or an application before

7:35
you sign any paperwork we can do that

7:36
but one of the the first choice that you

7:38
have when you're when your multi-year

7:40
guarantee annuity

7:41
um comes to the turn into the term

7:44
is you can stay at that carrier you can

7:47
stay with xyz corporation so you bought

7:49
a five-year

7:50
with xyz and at the end of the five-year

7:52
term you can stay with xyz now why would

7:54
you do that

7:55
now number one when you work with us you

7:57
know again we're the top sellers of

8:00
multi-year guarantee annuities in the

8:01
country licensed in all 50 states

8:03
you know we will be in touch with you 60

8:05
to 90 days before that maturity date

8:07
ends that that term ends

8:09
and we'll ask you the questions hey what

8:11
do you want to do the first thing is do

8:12
you want to stay with the carrier

8:13
typically what the carrier does

8:15
the one that you're currently with is

8:17
they'll offer you

8:18
a renewal rate to stay

8:22
now sometimes that renewal rate is is

8:25
really competitive

8:26
and really good and they really want

8:27
they're really incentivizing you

8:29
to not move the money not cash out or

8:31
not move it to another

8:33
annuity so you know we're going to find

8:35
out

8:36
um you know what that renewal rate is

8:38
here's the good part about all of this

8:40
you're the winner the consumer is the

8:42
winner the multi-year guarantee annuity

8:44
owner

8:45
is the winner um and the reason i say

8:48
that is

8:49
if they don't offer a good renewal rate

8:51
we can just move it to a high the

8:52
highest

8:53
um yield at that time you know at the

8:56
time of the

8:56
the surrender charge time period ends

8:58
and that term ends or

9:00
if they offer a good rate we stay how

9:03
good is that i mean you're in control

9:04
you control the asset

9:06
100 you're in the driver's seat and if

9:09
they want to keep your money

9:10
they i'm sure that the companies out

9:12
there the carriers know what the

9:13
competing rates are

9:14
and and if they want to keep your money

9:15
they're going to be competitive if they

9:17
don't they're not going to be

9:18
competitive and then we can

9:20
you know we can move the money so the

9:21
first thing is renew with the same

9:23
company

9:24
and as i always say you own an annuity

9:26
for what it will do not what it might do

9:28
and the will do or the contractual

9:30
guarantees

9:31
so i'm always saying choose the highest

9:33
contractual guarantee

9:35
don't ever buy an annuity for market

9:36
growth potential hypothetical

9:38
theoretical

9:39
you know put you know hopeful agent

9:41
return scenarios unicorns chasing the

9:43
butterflies

9:44
you know all these batching and dinner

9:46
seminar pitches mangas are contractual

9:48
they are what they are

9:50
you know there's no what if there is a

9:52
will do here's the will do percentage so

9:54
that first choice you have is renew with

9:56
the same carrier the second choice that

9:59
you have

10:00
is i kind of explained it at the end of

10:02
that

10:03
explanation of choice number one which

10:05
is we can transfer

10:07
the myga the multi-year guarantee

10:09
annuity to another mica

10:11
now why would we do that we would do

10:12
that if if the renewal rate was low or

10:15
if you wanted to

10:17
just keep pushing the tax puck down the

10:18
ice now what do i mean by that

10:20
multi-year guarantee annuities the and

10:22
i'm not i don't know if i covered this

10:24
but the first thing the first thing i

10:26
covered on the difference between

10:27
my guests and cds was state guaranty

10:29
fund versus fdic but the other thing is

10:32
multi-year guarantee annuities in a

10:33
non-ira account non-qualified non-ira

10:36
account

10:37
the interest grows tax deferred whereas

10:39
with a cd and a non-ira you have to pay

10:41
taxes on the interest

10:42
that doesn't make it better than a cd at

10:44
all it's just

10:46
different so at the end of the term

10:48
you've deferred all these taxes

10:50
you could choose to say you know what

10:51
stan let's just let's just roll it

10:54
to another multi-year guarantee annuity

10:55
now if it's an if

10:57
if the multi-year guarantee annuity is

10:59
inside of an ira

11:01
then it's an ira to ira transfer a

11:03
non-taxable event and for all you people

11:05
out there advisors that

11:06
never bloom all right that's garbage in

11:10
french that's crapola

11:13
of course you can put an annuity inside

11:15
of an ira because you're buying the

11:16
contractual guarantee so

11:18
if your advisor says that have them

11:20
contact me and i'll send them my book so

11:22
they can get educated and not look

11:23
stupid

11:24
so so if it's an ira to ira it's a

11:26
non-taxable event but if you have an

11:28
omega in a non-qualified account okay

11:31
non-qualified non-ira you can still

11:34
transfer it without tax consequences

11:37
our beloved friends at the irs section

11:39
1035 of the irs code so if you're

11:42
really bored and have no life and are

11:44
just sitting at home and don't want to

11:46
watch the news anymore and

11:47
you know i really just i think i'm going

11:48
to read a little bit and you want to

11:50
read the irs code go to section 1035

11:53
and it says in there that you can

11:54
transfer one annuity to another annuity

11:57
without tax consequences yes the cost

12:00
basis transfers

12:01
but you can keep pushing that tax plug

12:03
down the ice

12:04
so the second choice is is a is a good

12:06
one which is

12:07
okay i'm at the end of the term the

12:10
renewal rate is not what i want it to be

12:12
and i'm going to transfer it to another

12:14
multi-year guarantee annuity

12:16
i'm going to go to the annuityman.com

12:18
and shop stand site

12:19
for the best um fixed rates on the

12:22
planet with all carriers using his live

12:24
micro feed 24 7

12:25
365 and stan's team is going to take

12:28
care of the transfer paperwork now

12:31
when we transfer to an annuity yes i do

12:33
get paid again

12:34
i know that's a hard show for some of

12:36
you out there

12:38
but you know hey i'm a philanthropist

12:40
and a capitalist combination right

12:42
um but that it's a one-time payment

12:44
again built in it's an administrative

12:45
cost

12:46
you're going to see 100 of your money go

12:47
to work bottom line with

12:49
with annuities and my guests too so

12:51
let's go backwards again first choice

12:53
you renew with the carrier that brought

12:54
you to the party

12:56
if they give you a really good rate to

12:57
stay and then

12:59
um you can transfer or you could

13:02
transfer it to another migo with another

13:05
carrier

13:06
to hopefully get a higher rate i mean

13:08
you can do that so that's a

13:10
that is a good thing by the way on

13:12
choice number one

13:13
some companies when they do a renewal

13:15
rate they'll do

13:17
and they're not all the same so you're

13:18
gonna we're gonna have to talk go to the

13:19
annuityman.com and schedule a call with

13:21
me 30 minutes

13:23
so some of them will say okay we'll

13:25
renew this rate without

13:26
locking you into surrender charges again

13:28
and it's for this specific

13:30
percentage and it's for one year and

13:32
then some will say

13:33
we're going to offer this rate but you

13:34
got to lock it in another five years or

13:36
if you had a

13:37
another three years whatever the

13:38
duration was so

13:40
you know if you that's a big decision

13:43
that's one of the things that we really

13:45
help you with

13:46
at the end of the mighty term is with

13:48
that renewal rate choice

13:49
is if it's competitive then you know we

13:52
we stay there with the same carrier and

13:55
if you say something like you know what

13:56
see i'm not sure really what i want to

13:58
do but since this specific carrier

14:00
doesn't lock you in for another

14:02
term and it's just a one-year guarantee

14:04
it's like having a a

14:05
a money market account if it's a good

14:07
rate so

14:09
again once again i have to import this

14:11
you are in the driver's seat

14:13
i mean you are in control of the asset

14:15
you never lose control of the asset one

14:17
of the things that

14:18
cracks me up about people's i've never

14:20
bought an annuity because

14:21
i just locked the money up but i can't

14:23
get to it okay

14:25
you're talking about annuitized

14:27
annuities there are three types that do

14:29
that but the other

14:30
three types are six primary types of

14:31
annuities those aren't income products

14:33
those are deferred products like this

14:35
multi-year guarantee annuity so

14:38
you control the asset so don't don't

14:40
fall for when people say annuities

14:42
and then they finished the sentence and

14:44
abroad but brush i was on the

14:46
phone today with a with a journalist and

14:48
she asked me well i'm

14:49
not sure about annuities i went stop

14:51
what type of annuity you're talking

14:52
about ma'am

14:53
what do you mean well you can't broad

14:55
brush say i hate all restaurants right

14:57
or i hate old trucks or i hate old shoes

14:59
you can't say that or i hate all

15:01
condominiums no you can't say that

15:03
you can't say you hate all annuities and

15:05
you can't say well i wouldn't buy

15:06
annuities because fill in the blank

15:08
you got to say what type so multi-year

15:11
gante annuities definitely falls into

15:12
that

15:13
realm because it's not an income product

15:15
so to speak lifetime income

15:17
even though with a lot of these you can

15:18
peel off the interest or take out five

15:20
or ten percent

15:21
annually depending on the rules with

15:22
that specific policy so

15:24
so again you can renew with the carrier

15:26
number two you can transfer it to

15:27
another mica

15:28
number three this is an interesting one

15:31
if you've got to the end of the term i'm

15:32
going to ask you again the two questions

15:34
i've always asked people

15:36
what do you want the money to

15:37
contractually do and when you want those

15:38
contractual guarantees to start

15:40
and then i use the pill acronym p stands

15:42
for principal protection

15:43
i stands for income for life l stands

15:45
for legacy other l stands for long term

15:47
care confinement carol do it again

15:49
principal protection income for life

15:50
legacy and long term care confinement

15:52
care if you don't need to contractually

15:54
suffer

15:54
for one or more of those items in the

15:56
pill you do not need an annuity of any

15:58
type never ever ever ever ever ever

16:01
buy an annuity for market growth please

16:03
regardless of the sales pitch

16:05
multi-year guarantee annuities falls

16:06
under the p of principal protection

16:08
but if we got to the end of the term and

16:10
you said to me

16:12
answer the two questions you know what

16:14
it's kind of changed stan the annuity

16:16
man america's annuity agent we'd rather

16:18
get a lifetime income stream and we need

16:20
it to start now

16:21
or we need to start in a year an hour

16:22
two years from now or three years from

16:24
now

16:24
then what we'll do again transfer that

16:27
multi-year guarantee annuity and the

16:28
cost basis with it

16:30
to an immediate annuity if you need

16:32
immediate income

16:33
a deferred income annuity if you need to

16:35
push income down the road or an income

16:37
rider if you need to push income down

16:38
the road

16:39
from a start date standpoint so once

16:41
again

16:42
if you're if things have changed for you

16:44
and you say you know what

16:45
i i need income or me and the wife or me

16:48
and the spouse or me and the partner

16:49
need income

16:50
then you can transfer that multi-year

16:51
guarantee annuity

16:53
to an income product like a deferred

16:55
income annuity a q lac

16:57
qualified longevity annuity contract a

16:59
single premium immediate annuity and a

17:01
an income rider attached to a deferred

17:03
annuity and we can quote all those for

17:05
you so so if you

17:06
said that if that was something you came

17:08
up with you said hey

17:09
i need to transfer and we need to start

17:12
income

17:12
then guess what stan the annuity man

17:14
america's annuity agent is going to

17:16
quote

17:16
all carriers on the planet for the

17:19
highest contractual guarantee for your

17:21
specific situation

17:22
and then we're going to talk about it

17:24
once again you own an annuity for what

17:25
it will do not what it might do the

17:27
highest contractual guarantee

17:29
so if you're if when you went into the

17:31
multi on choice number three you went

17:33
into the multi-year guarantee annuity

17:35
and under the pill scenario you wanted

17:36
principal protection

17:38
you wanted to lock that principal

17:39
protection up for five years but then

17:41
after the five years

17:42
asking the two questions again what do

17:44
you want the money to contractually do

17:45
and when you want those contractual

17:47
guarantees to start

17:48
you had changed to income then we can

17:52
quote all carriers for whatever income

17:54
product you need and the start date

17:56
to match your goals once again it's

17:59
customizable remember annuities

18:01
from an income standpoint customizable

18:04
so you just tell me exactly how you want

18:06
it to work

18:07
um you know if you want to be a single

18:09
life joint life if you want to make sure

18:10
that your

18:11
your beneficiaries get any unused money

18:13
we can structure it exactly like you

18:15
want it to happen

18:17
and once again from a transfer

18:18
standpoint if it's not if your

18:20
multi-year guarantee annuity is inside

18:22
of an ira it's an ira to ira transfer

18:25
okay which is a non-taxable event does

18:29
not trigger any taxes if it's a if it's

18:32
a

18:33
non-ira non-qualified account it

18:35
transfers again via the 1035

18:37
irs provision 1035 code of the irs

18:40
annuity to annuity

18:42
non-taxable event once again it does not

18:44
trigger any taxes

18:46
but the cost space is transfers so

18:49
i got a question of the day and this was

18:50
a really good one about transferring and

18:52
all that stuff

18:54
the person said they're getting ready to

18:56
buy a multi-year guarantee they're

18:58
getting ready to buy a three-year

19:00
and they said stay in the annuity man if

19:03
i buy the three-year from my ira and i

19:05
think their ira was at a really big firm

19:07
like fidelity or td or someone like that

19:09
some really good firm like that and they

19:11
said i want to buy the three year but

19:12
after the three year terms

19:14
ends can can i transfer it back

19:16
non-taxable event

19:17
to the ira i had at fidelity or whatever

19:20
i said absolutely you can

19:21
rules still are the same irate ira

19:24
transfer

19:24
cost basis would transfer back um so

19:27
once again you're in full

19:28
control of the asset i think that's one

19:30
of the biggest misconceptions people

19:31
have

19:32
about annuities they lose control no i

19:35
mean

19:35
immediate annuities are irrevocable life

19:37
insurance like a lifetime income

19:39
products

19:40
issued by a life insurance company

19:41
deferred income annuities

19:43
um income starts at a future day but

19:44
irrevocable lifetime income product

19:47
qualified longevity annuity contract

19:49
which is a deferred income annuity used

19:50
inside of an ira

19:52
for all you people out there so never

19:54
put an annuity into a road

19:55
q laks are developed for that by the way

19:57
to put inside of an ira but once again

19:59
an irrevocable lifetime income product

20:01
but multi-year guarantee annuities are

20:03
not irrevocable

20:04
you control the asset you can do what

20:06
you want so at the end of the term

20:08
this nice lady i said hey you know yeah

20:10
let's lock this in let's lock this right

20:12
in she's very happy with the rate

20:13
for three years and the plan is and in

20:15
our notes and my team's going to contact

20:17
her

20:18
you know 60 to 90 days from the end of

20:19
that term and we're going to say hey

20:21
do you want to transfer back to your

20:22
original ira and if she says yes

20:24
we will help facilitate that with that

20:27
um receiving company so

20:29
once again you're in control of the

20:31
money don't listen to all the haters of

20:33
annuities out there they don't

20:35
know what they're talking about and

20:37
stand the annuity man is on a personal

20:39
mission

20:39
to educate and edutain edutainment

20:43
everybody on the planet on the truce the

20:45
brutal truths the brutal facts

20:47
about annuities because with 10 000 baby

20:49
boomers retiring

20:50
every single day well not retiring but

20:53
let's say hitting age 65 that's actually

20:55
the stat

20:56
10 000 baby boomers hit the age of 65

20:58
every single day

21:00
that's a lot of people looking for

21:01
guarantees but the annuity industry has

21:04
blown it from a pr standpoint but i

21:05
digress

21:07
so that's your third choice you can

21:08
transfer it to

21:10
a an income product if you want to do

21:12
that all right

21:13
so the fourth choice is the obvious one

21:16
what is it

21:17
what is it i'll wait to for you to tell

21:18
me the answer yell it i can't hear you

21:20
podcast people

21:21
i can't hear you youtube people yo yo yo

21:23
loud you're right stop yelling

21:25
cash it in you can cash the darn thing

21:28
in

21:29
so if you said hey you know stan the

21:32
annuity man i bought this five year

21:34
or three year or two year or seven year

21:35
miga and at the end of the term

21:37
you know i bought it with non-ira assets

21:39
i just wrote a check with it

21:41
send me the money i want to buy a boat

21:43
absolutely not a problem we'll do that

21:45
we'll send you the forms

21:46
sign the forms and i think like a week

21:48
later you got to check

21:50
um that's how easy it is once again you

21:53
control the asset how about that

21:55
you control it you know i always say

21:57
that on the podcast our our title here

21:59
is

21:59
live in the reality not the dream

22:01
because people say how are you doing i'm

22:02
living the dream

22:03
no you're not you're living the reality

22:05
we're living the reality and the reality

22:07
that we live

22:08
is contractual guarantees that's the

22:10
real reality i want you to live

22:12
is transfer of risk contractual

22:14
guarantees and the reality of the fourth

22:16
choice is

22:17
i want to cash it in now if it's inside

22:19
of an ira

22:20
a traditional type ira setting you know

22:23
we have to look at taxes et cetera like

22:25
that but you can do what you want to do

22:26
it's your money

22:27
you know you can cash it in now

22:30
obviously in a non-ira setting

22:32
uh non-qualified you'd have to pay taxes

22:34
on the interest and taxes on annuity

22:36
interest like that is taxed last in

22:39
first out

22:40
gains first at ordinary income levels

22:42
and that's as much

22:43
tax advice as you'll ever hear from stan

22:46
the annuity man america's annuity agent

22:47
top independent agent in the in the

22:49
country on the planet

22:51
because i don't give tax advice and no

22:52
other agent or advisor should as well

22:54
only cpas and tax lawyers should

22:58
should give you tax advice period and

23:00
the story

23:02
close the case because nobody out here

23:04
and when i hear agents talking about

23:06
you know i'm going to give you social

23:07
security and tax advice at the same time

23:08
i'm like

23:09
i hope they're a cpa or tax lawyer or

23:11
else they're in trouble

23:12
i mean that is what it is so let's kind

23:14
of do a review of the four

23:16
choices that you have at the end of a

23:19
multi-year guarantee annuity myga

23:21
acronym term so at the end of the

23:23
migrate term so let's do it again and

23:25
we'll go through them number one you can

23:28
renew with that carrier depending on

23:31
the rate that they offer and if they're

23:33
going to lock it in

23:34
for another five or three or whatever

23:35
years or if they're just going to give

23:37
you a one-year rate

23:39
and just keep renewed on a one-year

23:40
basis so you can renew with the carrier

23:42
that's choice number one

23:44
everybody podcast people i just held up

23:45
number one we're number one

23:47
and number two you can transfer it to

23:51
another multi-year guarantee annuity if

23:52
that renewal rate is not in your favor

23:55
you don't like it or you don't like the

23:56
company or whatever

23:58
and we're gonna go find the highest

23:59
yield miga to transfer it and again that

24:02
transfer is

24:04
non-taxable it does

24:06
not trigger taxes i have to say that

24:09
slowly because

24:11
some for some reason that never hits the

24:13
cortex the first time

24:15
is that the cerebral cortex i missed

24:17
that i think i skipped that class one

24:19
time

24:19
anyway so the third choice is you could

24:22
transfer it to an income product like an

24:24
immediate annuity single premium

24:26
immediate annuity

24:27
a deferred income annuity qualified

24:28
longevity annuity contract

24:30
or an income rider depending on the goal

24:32
and remember the two questions

24:33
what do you want the money to

24:34
contractually do when do you want those

24:36
contractual guarantees to start

24:38
and then from that you know we can line

24:40
you up with the product type that will

24:42
provide the highest contractual

24:44
guarantee for

24:45
your specific situation and remember

24:48
those type of quotes

24:50
are like a gallon of milk they last

24:51
seven to ten days unless you lock them

24:53
in during the application process

24:55
and then the fourth choice is cash that

24:57
baby in

24:59
hey stand the annuity man with my money

25:01
send me the money

25:02
show me the money baby exactly we can do

25:06
that we can send you the money

25:07
we can send you the check so renew it

25:09
transfer to another

25:10
so here we go i'm gonna do it quick

25:12
without explanations number one renew

25:14
the maga with the carrier that you're

25:15
already at number two

25:16
transfer the maga to another mega number

25:19
three transfer the maga to

25:20
an income product number four cash

25:24
it in now the good news about all of

25:27
this

25:27
is i have the best team on the planet

25:30
for clients out there they're already

25:31
nodding i can hear the noggin nodding

25:33
because they're like

25:34
i'm telling you you know i'd rather talk

25:35
to them than stan i hear that all the

25:37
time

25:38
because they're fantastic and we will

25:39
handle all of the paperwork

25:41
from start to finish whether you're a

25:42
new client just buying a migo or if

25:44
you're transferring

25:45
getting to the end of the term with the

25:47
michael we will handle everything soup

25:48
to nuts start to finish

25:50
you will get in the mud and getting the

25:52
weeds for you and then you can just

25:53
watch us get in the mud and get in the

25:54
weeds because what we do is we handle

25:56
everything

25:56
start to finish and then we update you

25:59
via email on the process

26:01
on how everything goes and trust me on

26:03
this one

26:04
you will like the process because we

26:05
have we have the best practices out

26:07
there

26:08
from the standpoint of how to handle

26:10
these situations

26:11
and we're very automated we're very i'm

26:13
not techy but boy i do i have some

26:14
really smart people around me

26:16
that's techie so that's that's really

26:18
today's topic

26:19
you know what's your four choices at the

26:21
end of the maga term i think it's very

26:22
important for people to understand this

26:26
i will say this at the end of the day um

26:29
you're in control of the asset

26:30
we're very transparent about everything

26:32
never hesitate

26:33
to ask me any question under the sun

26:36
about

26:37
anything annuity because i know it you

26:39
know i've written

26:40
seven books and and by the way i'll send

26:42
you my books for free if you go to the

26:44
annuityman.com

26:45
you can sign up for the books get my

26:47
books you can use our proprietary

26:48
calculators you can look at our

26:49
proprietary mica feed

26:51
you can schedule a call with me stan the

26:53
annuity man america's annuity agent one

26:55
on one

26:56
and if you haven't caught the drift by

26:58
now i am a straight

26:59
shooter i i tell the truth it's like my

27:02
grandfather said a long time ago

27:03
he says stanley he goes if you tell the

27:05
truth you never have to remember

27:07
anything

27:08
that's severe his name was hunter

27:09
garrison i said you're right hunter

27:11
i'm just going to tell the truth and

27:13
that's really what we built this whole

27:15
business uh around which is just being

27:17
being transparent and not polishing this

27:19
stuff up just their contractual

27:21
guarantees that's all i sell

27:22
are contractual guarantees i appreciate

27:25
you joining me on

27:26
fun with annuities the number one

27:27
annuity podcast on the planet

27:29
this is a weekly podcast and i hope you

27:31
will join us next time

27:33
my name is stan the annuity man

27:41
thanks for listening to fun with

27:43
annuities please hit the subscribe

27:45
button and make sure to go to my site

27:47
at the annuityman.com where you can run

27:50
your own spea dia and culat quotes

27:53
and see a live feed of the best mica fix

27:55
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27:56
in the country and even get indexed and

27:58
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28:00
you can also sign up for my six annuity

28:03
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28:05
for free

28:06
and under no obligation i also encourage

28:09
you to schedule a

28:10
one-on-one call with me stan the annuity

28:12
man so we can have a full discussion

28:15
of your specific situation it will be

28:17
the best

28:18
brutally factual and truthful advice you

28:21
will ever get and that's one guarantee

28:23
you should definitely take advantage of

28:25
so join me next time for the number one

28:27
annuity podcast on

28:29
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28:46
you