044 How to Shop Annuity Rates Like a Pro!

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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 i'm your

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host stan the annuity man america's

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annuity agent license in all 50 states

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glad you joined me this week for this

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topic which is an important one

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it's it's called annuity rates and how

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to shop like a pro

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in 2021 and i guess it would apply to to

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any years

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um but this year is a big one so let's

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talk about it

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but what i'm what i'm going to do is go

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over annuity rates in general

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because when people say you know annuity

1:09
rates it really can mean

1:11
a couple of things now before we get in

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deep and dig

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deep and dive deep um i've got to talk

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about the outfit i have on now for the

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people that are listening on the podcast

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platform which is

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you know stitcher and spotify and itunes

1:24
and all that stuff you need to go to the

1:26
fun with annuities youtube channel and

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check out my outfit

1:29
for today because we do record every

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single one of these

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video wise because i'm crazy in front of

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the camera because it's fun with

1:36
annuities right i mean our motto is

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live in the reality um i mean live in

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the contractual reality

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not the dream because annuities are

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contracts but the outfit i have on is

1:47
killer man it's like

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a maroon obviously it's standing nudity

1:50
man logo but everyone's like do you have

1:52
any other hats other than

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you know the baseball hats you wear and

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of course i do and they're all logo but

1:57
the one i have on today

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is called a bucket hat so i can like

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flip the lid up to look you know look

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like gilligan from gilligan's island or

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i can flip the back

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up and look like you know a pimp walking

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down the street right

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but people are going to love this house

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to stand the annuity man bucket hat

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i mean think about it for a second so

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the and again

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uh we filmed this stuff on all these all

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these podcasts on

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fun with annuities it's a youtube

2:21
channel and we also have a stanley new

2:22
demand youtube channel as well

2:24
but let's get to the topic of annuity

2:26
rates so

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you know i get these calls all the time

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let's let's let's say that chester calls

2:31
me that's my

2:32
mythical person that calls me all the

2:35
time but i use him because he reminds me

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of my of an uncle that i used to have in

2:38
in north carolina that would corner you

2:40
at the family reunion and drive you

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crazy

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and so this is the call that comes in uh

2:46
stan the annuity man

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uh what are the best rates right now i'm

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looking for rates

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uh okay you're looking for rates in the

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annuity world

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rates don't they can mean a couple of

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things

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you know first of all rates can mean

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interest rates

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and most of the time that people are

3:06
talking to me about

3:07
rates it's about interest rates because

3:09
they've been drilled and drilled and

3:11
drilled

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into submission that interest rates are

3:15
the you got to follow interest rates

3:16
interest rates

3:17
remember interest rates interest rates

3:19
interest rates

3:20
but the annuity world rates don't always

3:24
mean

3:24
interest rates now with some products

3:26
like multi-year guarantee annuities that

3:29
are the annuity industry version of a cd

3:32
and you know what a cd is so if you hate

3:34
all annuities then you're a hypocrite

3:36
because you don't hate cds

3:38
you're also a hypocrite because you

3:39
already own an annuity it's called

3:40
social security it's a lifetime income

3:42
stream

3:43
but i digress um so you know when we're

3:46
talking about rates

3:48
people are a my multi-year guarantee

3:51
annuity is

3:51
tied directly to interest rates that is

3:54
one of the products

3:55
that is tied directly so in a multi-year

3:58
guarantee annuity you know if interest

3:59
rates move up or down you'll see those

4:01
type of rates

4:02
move up and down as well just like a cd

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because a multi-year guarantee annuity

4:07
is the annuity industry's version of a

4:09
cd

4:10
now the other definition of

4:14
rates when people say what's the best

4:16
rates then

4:17
rates are up rates are down whatever

4:20
rates can

4:20
also mean life expectancy because

4:25
when you buy a lifetime income stream

4:27
and just

4:28
just to kind of go back in history a

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little bit to the roman times

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you know that's when annuities started

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that's when lifetime income

4:37
annuities started in the roman times as

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a gift to the dutiful roman soldiers and

4:41
their families

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i didn't take latin but i have been told

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the word annua a-n-n-u-a

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is is where annuity started that's the

4:49
word for annuity means lifetime payment

4:50
or payment or something like that

4:52
didn't go to that class obviously but

4:55
that's where

4:55
annuities came from that was the

4:57
original design of annuities

4:59
and when you're buying a lifetime income

5:01
product and there are three primary

5:03
lifetime income

5:04
products in the annuity world first one

5:06
is single premium immediate annuities

5:09
the second one is deferred income

5:11
annuities which is a single premium

5:12
immediate annuity

5:13
that you defer you know once you defer

5:16
past 13 months it becomes a deferred

5:18
income annuity magically

5:20
and semantically right and then the

5:22
third type primary type

5:24
is a qualified longevity annuity

5:27
contract which can be used inside of

5:29
your ira so for all of you people out

5:31
there going

5:31
never put an annuity inside of an iron

5:33
right then

5:35
or your advisor says that or somebody on

5:37
the news or

5:38
wrote about that they're dumb okay or

5:42
uninformed i'm assuming they're nice

5:44
people but goodness gracious

5:45
if you don't know the answer don't bluff

5:48
and qualified longevity annuity

5:49
contracts are deferred income annuities

5:51
that can you can use in your traditional

5:52
ira

5:53
for future income needs but when we talk

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about rates for

5:57
in the acronyms for the speas diaz and

5:59
culax that's the acronym so i'll try to

6:01
use those instead but with spies diaz

6:04
and culax

6:04
when we talk about rates we're primarily

6:07
talking about life expectancy

6:09
so if if you buy an immediate annuity on

6:12
you

6:12
and you only it's life expectancy your

6:15
life expectancy at the time you take the

6:17
payment

6:18
that's the primary pricing mechanism if

6:21
you set it up joint

6:22
it's life expectancies

6:26
plural at the time you take the payment

6:29
now interest rates play a secondary role

6:32
once again

6:32
interest rates play a secondary role

6:35
once again

6:35
interest rates play a secondary role

6:39
in the pricing of lifetime income life

6:42
expectancy drives the pricing train

6:45
period in the story let me give you an

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example

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when you go to figure out when you're

6:51
going to turn on your social security

6:53
payments which by the way

6:54
is the best inflation annuity on the

6:57
planet

6:58
period everyone with a social security

7:00
number already owns an annuity which is

7:02
one of the reasons that i cannot believe

7:04
that the annuity industry has let

7:06
people get away with i hate all

7:08
annuities that's like saying i hate all

7:10
restaurants

7:11
come on man that's that's crazy you

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already everyone already owns an annuity

7:15
and for all the people that

7:16
that hate that say they hate annuities

7:19
all the all the masters of the universe

7:21
advisors out there

7:22
somehow they include that social

7:24
security lifetime income annuity payment

7:26
into all of their planning

7:27
if they weren't that's called being a

7:29
hypocrite okay

7:31
but you life expectancy

7:34
drives the train so when you when you go

7:36
to say okay i'm gonna take

7:38
um a lifetime income stream payment from

7:41
my social security

7:43
the typical call that i get is should i

7:46
take it at 65 or

7:48
66 stand the annuity man america's

7:50
annuity agent

7:51
or should i wait until age 70

7:56
because the payments are higher why are

7:58
the payments higher because you're older

8:00
the older you are the higher the

8:01
payments why because your life

8:03
expectancy is less

8:04
which means that the pain the projected

8:06
payments are fewer

8:07
which means they will be higher now that

8:10
doesn't mean you have to defer to

8:12
age 70 to turn on the income stream

8:14
because

8:15
what you need to do is say okay if i

8:17
turn it on at age 65

8:18
i'm going to get this if i wait until 70

8:21
i've got to figure out those 60 months

8:23
five years of payments that i missed

8:25
does it make sense what's the break-even

8:27
point there's no good answers just bad

8:29
sales pitches nod your head

8:31
so the same thing with when people say

8:35
uh what's your rates what's your rates

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on an immediate annuity

8:39
um tell me your date of birth and when

8:41
you want to start the income and i'll

8:42
and i'll tell you with the lifetime

8:44
income stream or you'll have some you'll

8:46
have some sites out there competitive

8:47
sites but there are no competitors to

8:49
stanley newty man we all know that

8:51
i mean it just it is what it is but

8:54
they'll have immediate a new immediate

8:56
annuity payout

8:58
six point seven percent and so people

9:00
will come here oh they're offering

9:01
immediate annuities with a 6.7

9:03
payout uh by the way chester that's your

9:05
life expectancy and a number

9:07
okay in a percentage that's your life

9:10
expectancy

9:11
it's not yield so when people say well i

9:14
should buy them

9:15
i should buy annuities for in lieu of

9:17
bonds no

9:18
apples and oranges two different things

9:21
bonds

9:22
and annuities aren't the same thing

9:24
especially when you're saying bonds and

9:25
lifetime income stream annuities and i'm

9:27
going to tell you something

9:28
really really smart people that i

9:30
respect make that correlation i'm going

9:34
huh how is that possible i mean

9:37
the the bonds you obviously can go up

9:39
and down and value the

9:40
the the underlying principle but the

9:43
principles there you can peel off the

9:44
coupon

9:45
with all lifetime income stream payments

9:49
all let me say it again all

9:52
it's a combination of return of

9:54
principal

9:55
plus interest that includes the income

9:57
riders that are attached to variable and

9:59
indexed annuities

10:00
which is also a lifetime income product

10:02
but for spears diaz and culax

10:04
it's a combination of return of

10:05
principle plus interest and yes you can

10:07
use them in all accounts

10:08
ira non-ira roth ira the difference is

10:11
how the income is tax coming out

10:13
but when people say what are your rates

10:15
or

10:16
i got to call you this is a great one

10:18
the guy calls me the other day and he

10:20
says the following

10:21
well uh standing annuity man america's

10:23
annuity agent no not everyone says that

10:25
but i'd like for you to

10:26
uh all right stan the annuity man you

10:28
sent me these quotes

10:29
and i'm really really disappointed in

10:31
the payout

10:32
and i went so you're mad that you're

10:34
young i mean because in essence

10:37
that's what he was saying i'm really mad

10:39
that i'm younger

10:40
than and i have a long life expectancy

10:42
so you're mad that you have a long life

10:44
expectancy

10:45
that's what you're really saying because

10:46
when you're talking about rates for

10:47
lifetime income

10:49
you know people like well i'm gonna you

10:50
know i'm gonna wait until uh interest

10:52
rates move up and uh even though i've

10:53
told them it's about life expectancy you

10:55
know their masters of the universe

10:56
they're not hearing me

10:57
i'm gonna wait i'm like okay chester you

11:00
can wait

11:01
you can wait to take the payments but

11:03
you gotta factor in all of those

11:04
payments you missed

11:05
when you're trying to be master of the

11:07
universe and time it

11:09
because you can't time anything with

11:10
annuities it's like nailing jello to a

11:12
wall

11:13
annuity companies have the big buildings

11:14
for a reason you can't beat them don't

11:16
try

11:17
there's no arbitrage like there is with

11:19
stocks and things like that

11:20
there's none because it's about your

11:22
life expectancy when you're talking

11:24
about

11:24
you know rates rates quote i'm putting

11:27
the quotes up on my fingers

11:29
people on podcast land rates when it

11:31
comes to lifetime income is about

11:33
life expectancy so yes interest rates

11:36
play a secondary role let me say it

11:37
again interest rates play a secondary

11:39
role one more time interest rates play a

11:41
secondary role

11:43
and life expectancy and life expectancy

11:44
drives the train with all lifetime

11:46
income

11:47
so you know when you're we people always

11:50
say well

11:51
stan the annuity man america's annuity

11:53
agent what ha

11:54
how if interest rates go up will it

11:57
really

11:57
and significantly increase the payments

12:02
no i mean interest rates at the current

12:05
levels at the time of this taping we all

12:06
know where they are

12:07
at their perceived lows jimmy carter's

12:10
building houses in georgia he's not

12:12
giving us 12 interest rates okay you

12:14
know hope he's still alive and swinging

12:16
the hammer right

12:17
um but interest rates would have to

12:19
significantly move

12:21
significantly to move the pricing needle

12:24
why

12:25
once again because it's about life

12:27
expectancy

12:28
lifetime income is a monopoly that only

12:31
annuities can provide

12:33
period wouldn't you think that the

12:35
annuity industry would promote that

12:37
they have a monopoly in the financial

12:38
services business they have a product

12:40
that only

12:41
it can only it's the only product that

12:43
can do that and what can it do it can

12:44
provide lifetime income i always say the

12:46
following

12:47
there's no roi until you die what does

12:50
that mean

12:50
that means up until that point until

12:53
your learjet hits the mountain

12:54
your bentley hits the tree your

12:56
lamborghini goes off the bridge

12:58
up until that point it's a pure transfer

13:00
of risk

13:02
in the story you're transferring the

13:04
risk to the annuity company to pay you

13:06
for the rest of your life now

13:08
with when people say well what's the

13:09
rates on immediate annuity what's the

13:11
return of deferred income annuity it's

13:12
life expectancy-based right

13:14
but these are commoditized quotes so

13:16
that

13:18
every seven to ten days like a gallon of

13:20
milk they change so we have to quote

13:23
all carriers for the highest contractual

13:24
guarantee and

13:26
this is another great call i got this

13:28
week so the

13:30
so i said you know we send quotes out

13:32
you can go to the annuity annuityman.com

13:34
and run your own speedy and qlik quotes

13:36
without talking to us

13:38
i mean you'll get the quote but if you

13:40
want to dig in you know you need to

13:41
schedule call with me and we can dig

13:43
in you know as as we say in one of our

13:45
ads online

13:47
do you want to talk with someone with 30

13:48
years of experience or some 30 year old

13:51
i mean my competitors have phone banks

13:53
of 30 year olds

13:54
you're going to get me you're going to

13:56
get me i've done this seeing this i've

13:57
forgotten more than those people have

13:59
and i have

13:59
cowboy boots older than most people that

14:01
are answering the phone at other places

14:04
i mean i'm going to shoot it straight

14:06
but you know the bottom line with quotes

14:08
is we got to quote all carriage because

14:09
then the call came in the guy said

14:11
hey you sent me a quote um you know

14:14
about 35

14:15
40 days ago is uh is a bit has been

14:17
coming i'm going to name the company but

14:18
i represent everybody

14:19
i want to go with that one let's go

14:21
ahead and do that paperwork stay in the

14:22
annuity man america's nudi agent i went

14:23
hold on chester

14:25
that quote expired seven days after i

14:28
sent it to you and the only way to lock

14:29
it in is to go through the application

14:31
processing

14:31
process no that's not a sales pitch

14:33
that's reality if you want to lock in

14:35
that

14:35
uh that guarantee um and so we re-ran

14:39
the quote

14:40
and when we ran the quote his favorite

14:42
company that he wanted to go

14:44
with finished late 10th whereas you know

14:46
35 days ago it finished

14:48
first for the same quote parameters why

14:51
is that standard

14:52
man why did that even happen i thought

14:54
rates annuity rates you know blah blah

14:56
blah

14:57
here's the reason it happens carriers

14:59
want to

15:00
attract certain age ranges and they have

15:03
a specific amount of money that they

15:05
want to hit

15:06
in a lot of cases not all a lot of cases

15:09
and once they fill up that tranche

15:10
then they make the quote less attractive

15:13
i hope that makes sense to you so that's

15:16
the reason we have to quote all carriers

15:18
and that's the reason you can't fall in

15:19
love with

15:20
the carrier you fall in love with the

15:22
number

15:23
period the contractual number now once i

15:25
run the quotes and send them to you then

15:27
we can sift the bodies out and say okay

15:29
we don't like that company i don't like

15:30
that company i don't like the claims

15:31
payability company or whatever

15:33
but when i run quotes when you run

15:36
quotes at the annuityman.com we're

15:38
running quotes

15:39
and finding rates right for the highest

15:42
contractual guarantee for your specific

15:44
situation

15:45
one more thing i want to add too most

15:47
people

15:48
have this misconception about when we're

15:50
talking about rates on lifetime income

15:52
streams

15:53
they're like well rates are low and and

15:55
even if i bought one if i died the

15:57
insurance company keeps the money

15:59
that is only one of about 35 to 40

16:02
different ways to structure the policy

16:06
so we can structure so the annuity

16:08
companies on the hook to pay

16:09
if it's your life or joint life whatever

16:11
but we can also put in what i call a

16:13
backstop

16:14
that's southern for guarantee a backstop

16:17
so that

16:17
100 of any unused money goes to someone

16:20
in your family

16:22
even though the annuity companies on the

16:24
hook to pay meaning that

16:25
under no circumstance the evil annuity

16:28
company will keep a penny but they're

16:30
going to

16:30
pay as long as you live or if it's joint

16:33
as long as

16:34
either of you live so get that out of

16:36
your head that

16:37
well if i buy an income annuity and i'm

16:40
done money goes poof

16:41
no if you wanted to do that and you hate

16:44
all your beneficiaries we can do that

16:45
that's called a life only quote but

16:48
that's again

16:48
one of about 35 to 40 different ways to

16:51
structure now

16:52
let's talk about rates once again i

16:54
don't want to get too too far in the

16:56
weeds and i do want to encourage you if

16:58
you go to my site at the annuityman.com

16:59
i've written

17:00
books on all these products spea's dsq

17:03
likes micas income riders

17:04
indexed annuities i'll send them to you

17:06
for free under no obligation no one's

17:07
going to call you and interrupt your

17:08
dinner no one's going to show up at your

17:10
door

17:11
yeah i'm going to treat you like a

17:12
professional because i hate it when

17:13
people do that

17:14
you know if you ever want to talk to me

17:15
you got to schedule a call i'm just not

17:16
going to pick up the phone call you i

17:17
mean i don't i don't like that i like

17:18
what people do that

17:19
but you know with immediate annuities or

17:23
deferred income annuities

17:24
um you can also buy what's called period

17:28
certain now 98

17:31
of the of the speas and deals that we

17:33
sell are lifetime income transfer

17:35
risk if you live forever period but you

17:37
can buy what's called a period certain

17:39
which means

17:40
i want a payment for 10 years i want a

17:42
payment for 15 years i want a payment

17:44
for

17:44
20 years i want a payment for seven

17:46
years i want to pay for five years

17:47
that's called a period certain now under

17:50
that

17:51
rates when you ask what's the rates on a

17:54
period

17:54
certain then it does come down to

17:57
interest rates

17:58
period but if it's life with a period

18:01
certain it's all about life expectancy

18:03
i don't want to get you confused but

18:05
understand with lifetime income

18:07
you can customize the payments to work

18:10
exactly like you want them to work

18:12
now we're going to come back to lifetime

18:13
income in a second but let's go

18:15
backwards to the other side of rates

18:16
hey what are the rates remember two two

18:19
answers

18:20
interest rates like a multi-year

18:21
guarantee annuity

18:23
or rates meaning life expectancy with

18:26
lifetime income products

18:27
so i guess we could draw a line down the

18:29
middle of page verbally for you

18:31
podcasters out there

18:32
uh podcast listeners uh left hand side

18:34
of the page the pure rate ones

18:36
are the mygas and a period certain uh uh

18:39
annuity like a spear dia and then

18:42
on the other side rates means life

18:45
expectancy

18:46
okay that's driving the train and that's

18:48
with speed is in qlacks

18:50
and income riders which can be attached

18:51
to uh index and variable annuities and

18:54
the income riders

18:55
are the contractual guarantee and if

18:56
you're going to buy an income rider

18:58
just buy the income rider buy the

19:00
highest contractual guarantee and forget

19:02
about

19:02
the accumulation value of the indexed

19:05
annuity or whatever because

19:07
spoiler alert the income rider value

19:10
will always be the highest why because

19:12
the annuity company wants to keep you

19:13
there and that's

19:14
one of the reasons they have the big

19:15
buildings so

19:17
in 2021 people always call me and talk

19:19
talk about rates

19:21
and we recently sent out some email

19:23
blast and it was like for a three year

19:26
uh multi-year guarantee is the hot

19:28
guarantee annuity is the highest one in

19:29
the country at the time

19:30
and i got you know emails back like

19:32
that's really low and i'm like

19:34
low compared to what i mean

19:37
in 2021 and i guess ongoing you know

19:40
who knows where rates are gonna go and i

19:43
hope that they go up

19:44
but we can't cavalierly say that they

19:46
can for the last five years

19:48
when it comes to to the phrase annuity

19:50
rates here's what's been said to stand

19:52
the annuity man

19:53
america's annuity agent who's written

19:56
seven books on the subject

19:57
done 300 plus videos written 400

20:00
articles i live and breathe this stuff

20:02
and and i don't know where rates are

20:03
going to go but here's what people say

20:05
rates have to go up right i mean rates

20:07
are going to go up they've been saying

20:08
that for five years

20:10
people have been waiting for the annuity

20:11
purchase for five years

20:13
waiting for rates to go up now do i want

20:15
them to go out with you

20:16
yes we're all nodding their heads oh

20:18
absolutely can they go down

20:21
uh yeah they can go down explain that to

20:24
me standing nudity man explain how you

20:26
think

20:26
rates can go down from here aren't they

20:28
at historic lows uh-huh

20:31
but at the time of this taping and we're

20:33
in 20 you know first part of 2021

20:35
as this podcast is going to be released

20:38
um

20:40
the government has has got a lot of

20:43
toner

20:44
in their printing presses they're

20:46
printing money like we have never seen

20:48
it there's nobody that can look back and

20:50
say well

20:51
in the past when we printed money like

20:52
this this is what happened to rates

20:54
no one knows but all i can think of is

20:57
this

20:58
we've all had mortgage payments right

21:01
would you would you raise the interest

21:03
rate on your mortgage payment

21:05
would you just because it hadn't moved

21:07
in a while would you just raise it

21:09
of course you would not if you're the

21:11
government

21:12
and you're printing money like crazy and

21:14
giving it out like crazy

21:17
what is your incentive to raise interest

21:19
rates because you have to pay

21:21
you have to pay the interest payments on

21:22
that right why would you do that

21:24
that's the reason i'm not sure hope hope

21:26
i'm wrong

21:27
i'm not sure rates are going to

21:29
cavalierly go up as everyone thinks they

21:32
are i get the inflation argument stop

21:35
yelling

21:35
at the speaker i get it i understand

21:38
i've been doing this for a long time

21:39
worked with dean witter morgan stanley

21:41
paine webber ubs done it

21:43
own it love it learn it i got it

21:47
okay but we're in blue water and what

21:50
that means is we haven't seen it

21:52
yet we haven't seen what all of this

21:54
printing

21:55
and the global nature of the printing

21:58
we don't know what's going to happen

21:59
with interest rates so when you call

22:01
when you talk about annuity rates

22:03
you know we have to you know with 10 000

22:06
baby boomers reaching age 65

22:08
i'm not sure a lot of people have time

22:09
to wait to get the guarantees that they

22:12
need

22:13
um i think also with rates you know

22:16
what's the risk the risk with rates

22:18
on the interest rate side my guess and

22:20
then period certain speeds

22:21
is um you know if rates go down i mean

22:26
you know migrates are going to go down

22:27
you know the payouts on superior

22:29
certain annuities are going to go down

22:31
but you're

22:32
also at risk with life expectancy tables

22:35
changing against you and how would that

22:36
work

22:37
if life expectancy tables changed

22:39
against you

22:40
that means the life insurance companies

22:43
are going to project you to live

22:44
longer which means they're going to be

22:46
more payments which

22:47
projected payments which means that the

22:49
payments will be lower

22:52
and you say well is that going to happen

22:54
stan the annuity man america's annuity

22:56
agent

22:56
i don't know but i do know this annuity

22:59
companies

23:00
you know annuities are issued by life

23:02
insurance companies life insurance

23:03
companies have the big buildings for a

23:04
reason because they know

23:05
we're going to die but and they price

23:08
things accordingly

23:09
but they do like making money and how

23:12
could they

23:12
make money easily the way that they

23:14
could easily make money is to

23:16
lengthen out the life expectancy tables

23:18
do i expect them to do that i have no

23:20
clue

23:20
i'm not in those meetings and they're

23:22
not calling me because they know i'd get

23:23
on this podcast and tell you

23:26
but i don't know and but they could and

23:29
if they do then

23:30
then you've been and you've waited to

23:32
buy you know your annuity be

23:34
you know then you're going to be in

23:36
trouble because the life expectancy

23:37
tables will be longer

23:38
when you buy an immediate annuity

23:40
deferred income annuity qualified

23:41
longevity annuity contract

23:43
income riders attached to indexed or

23:45
variable annuities for lifetime income

23:47
those four

23:48
strategies for lifetime income when you

23:50
buy it you're locking in the life

23:51
expectancy tables at the time you buy it

23:54
now argument can be said yes you're also

23:56
locking in interest rates as well but as

23:59
i told you earlier in the podcast and i

24:01
repeat it over and over

24:02
when it comes to life expectancy when it

24:05
comes to lifetime income life expectancy

24:07
drives the pricing train and you can't

24:11
time it and interest rates would have to

24:14
significantly move

24:16
for it to move the pricing needle so

24:18
when people are getting quotes and i

24:20
would encourage you to go to the annuity

24:22
man

24:22
the annuityman.com and run your own

24:24
quotes you know you don't

24:26
no one's going to bug you i'm just i'm

24:28
just telling you're going to like what

24:29
we've set up there because

24:31
you get treated like a pro and there's

24:33
not all pop-ups bang bang bang like you

24:35
go to these

24:36
sites and say bing bang bang bang go

24:38
here get this whatever

24:39
no you get the quote you get i mean it

24:41
is what it is

24:42
but i would i would go get the quote and

24:44
i would also just

24:46
look at lifetime income if you're trying

24:48
to get lifetime income

24:49
streams um you have to come up with a

24:52
contractual guarantee that you feel

24:54
comfortable with you can't time it

24:56
as they say in the markets uh stock

24:58
market the bell doesn't ring at the top

24:59
or the bottom right

25:00
same thing with annuities you know

25:03
you can't maximize it you just can't i

25:05
know you want to i know that's what you

25:07
want to do i know that's how you've been

25:08
trained

25:09
and with stock market non-annuity type

25:10
assets i get it i used to be there i

25:12
used to try to do that myself

25:14
with the non-annuity type assets but

25:15
when it comes to annuities you're

25:17
talking about contracts

25:18
and lifetime incomes about life

25:19
expectancy you need to come up with

25:22
um the the guarantee that you're looking

25:24
for and better yet i would encourage you

25:26
to

25:26
you run the quotes on the site come up

25:29
with kind of a

25:30
you know see what the guarantees are and

25:31
then when you want to dig in

25:33
schedule call with me and get me on the

25:35
horn and and then we will talk and i'll

25:36
run

25:37
quotes real time and send them to you

25:39
and i'll customize them for you based on

25:41
your needs and based upon my experience

25:43
once again you want to talk to someone

25:44
with 30 years experience or a 30 year

25:46
old

25:47
hello and and i will i will reverse

25:50
engineer a quote that's what i tell you

25:52
to do

25:53
is with any type of lifetime income if

25:55
you can come to me and say you know what

25:57
me and the spouse me and the partner

25:58
need you know two thousand two hundred

26:00
fifty dollars to fill in that gap

26:01
period okay i'll reverse engineer the

26:04
quote

26:04
quoting don't carry to find out the

26:06
least you know how little amount of

26:08
money we need to

26:09
to put with the annuity to guarantee

26:11
that amount

26:12
now first thing is your head is

26:13
inflation you already own the best

26:15
inflation annuity on the planet which is

26:16
social security

26:18
but annuity companies have the big

26:20
buildings for a reason if you attach a

26:21
cost of living adjustment increase

26:23
to a lifetime income stream what does

26:25
the company do

26:27
they the annuity company severely and

26:29
drastically

26:30
lowers that initial income amount again

26:32
you're not going to beat them

26:34
i would encourage you to just get a

26:35
static payment and if inflation does

26:38
hit then you come back and you buy

26:41
an immediate annuity at that time when

26:43
inflation hits to solve for that

26:45
specific

26:46
income gap need to fill in that income

26:48
floor

26:49
so i hope this has been revealing

26:52
because rates

26:53
don't mean one thing in the annuity

26:55
industry it's like saying

26:56
i hate all annuities i always say which

26:58
type which type do you hate do you hate

27:00
migas

27:01
index variable speed as dsq like which

27:04
one do you hate you can't say you hate

27:05
them all because you already own one

27:06
social security which is a

27:08
a spear or a deal however you want to

27:10
however you want to frame it

27:11
so you can't say that so when it comes

27:13
to rates hey stan what are the what's

27:15
the best rates

27:16
i'm going to come back to you and say

27:17
what are you trying to solve for you

27:19
know remember the two questions

27:20
what do you want the money to

27:21
contractually do when you want those

27:23
contractual guarantees to happen

27:25
but if you i mean those are the two

27:26
questions i ask everybody but if you say

27:28
hey stan what are the best rates you

27:30
know can you find me the best rates of

27:31
course i can but i need to find out what

27:33
you're trying to solve for

27:34
is it principal protection yeah great

27:36
then we go look at my guess multi-year

27:38
guarantee annuities

27:39
is it lifetime income okay great then

27:41
rates mean

27:42
life expectancy primarily and interest

27:44
rates play a secondary role and would

27:46
really have to move up

27:47
to move the needle so the next time you

27:50
think

27:50
annuity rates and you call it what

27:53
annuity rates are down or whatever

27:54
no annuity rates aren't down when it

27:56
comes to life expectancy

27:58
you know it is what it is it's your

27:59
transfer risk to pay for the rest of

28:01
your life

28:02
so just understand that you know rates

28:05
can mean a couple of things

28:07
um in the annuity world and you know

28:10
i would encourage you to go to my site

28:12
the annuityman.com order my books i'll

28:14
send them to you for free and under no

28:15
obligation

28:16
but i would also encourage you to

28:18
schedule a call with me you're not going

28:20
to get some junior stan stanetta

28:21
whoever i mean you're going to get me

28:23
until my leader jet hits the mountain

28:24
right so and hopefully i don't have a

28:26
leader yet but i mean

28:28
i'm going to be involved with the

28:30
recommendation i have a great team of

28:32
great staff

28:33
but you're going to deal with me scary i

28:35
mean i've got this great bucket hat on i

28:37
just flipped it up like gilligan right

28:39
but the point is you deal with me am i

28:42
energetic about it yeah i think

28:44
i think annuities are great that's the

28:46
reason we call um

28:47
this i mean they're not for everybody

28:49
but that's the reason we call this pop

28:51
podcast fun with annuities living the

28:53
reality

28:54
um you know live in that contractual

28:56
reality we're not living the dream

28:58
we're living the reality and the reality

29:00
is

29:01
is the contractual guarantees and the

29:03
transfer of risk

29:04
and the peace of mind that annuities can

29:07
provide

29:07
now with that i need you to join me next

29:10
time this podcast app

29:11
happens every single week and my name is

29:14
stan

29:15
the annuity man thanks for joining me

29:22
thanks for listening to fun with

29:24
annuities please hit the subscribe

29:25
button and make sure to go to my site

29:28
at the annuityman.com where you can run

29:30
your own spea dia

29:32
and q lat quotes and see a live feed of

29:34
the best mica fix rates

29:36
in the country and even get indexed and

29:39
income writer quotes as well

29:41
you can also sign up for my six annuity

29:43
owners manual books and i'll ship them

29:45
for free and under no

29:47
obligation i also encourage you to

29:49
schedule a one-on-one call with me

29:52
stan the annuity man so we can have a

29:54
full discussion

29:55
of your specific situation it will be

29:58
the best

29:58
brutally factual and truthful advice you

30:02
will ever get and that's one guarantee

30:04
you should definitely take advantage of

30:06
so join me next time for the number

30:08
one annuity podcast on the planet fun

30:11
with annuities

30:26
you