076 Mr. FIA-X: Letters, Numbers, and BS Bonuses

0:04
welcome to fun with annuities with your

0:06
host me stan the annuity man america's

0:09
annuity agent can annuities be fun can

0:12
contractual guarantees be fun

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absolutely they can find out the brutal

0:17
facts about annuities with no sales

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pitches or high pressure nonsense just

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the brutal and factual annuity truth

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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 start right now

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[Music]

0:39
welcome to fun with annuities i'm your

0:41
host stan the annuity man america's

0:43
annuity agent license in all 50 states

0:45
so glad you joined us here for the fun

0:48
with annuities podcast on all major

0:51
platforms and also you can see the guest

0:53
and myself

0:55
on the fun with annuities youtube

0:57
channel which is great because he has on

0:59
a mask yes everyone

1:01
back by popular demand

1:04
mr

1:04
f-i-a-x which by the way

1:07
he is he is currently the the superstar

1:10
when we have him on because people are

1:12
dying to know the truth about index and

1:14
news now the funny part about this

1:16
is that

1:18
agents and and people who listen and and

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that our listening audience is 99

1:23
consumers but there are some hard-headed

1:25
agents out there that listen to us as

1:27
well and they're all trying to guess who

1:29
mr f-i-a-x is

1:32
and up until this point everyone's got

1:35
it wrong

1:37
i'm not going to reveal it because

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i know who he is of course but um you

1:44
know this is this is heady stuff and

1:45
this is um how the faa sausage is made

1:48
and the the annuity companies really

1:51
don't like him being on i have heard

1:53
from two specific companies that say we

1:55
don't like him we don't like what he's

1:57
saying

1:58
uh we don't know what he's saying to

2:00
know me is to love me to know you is to

2:02
love you says your two uh ex

2:05
um

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wives

2:11
um all right so here we go you know

2:14
here's what i always say mr fiax what

2:16
season is it is it the coveted season

2:18
there's an argument for that is it fall

2:20
season it's coming up is it football

2:22
season

2:23
yes

2:24
but all of those answers are incorrect

2:26
mr fix it is officially

2:30
indexed annuity silly season

2:32
okay

2:33
this is

2:35
insane and in disclaimer i sell them

2:38
stan the annuity man america's annuity

2:40
agent licensed in all 50 states i sell

2:41
indexed annuities i sell them properly

2:43
for the contractual guarantees and the

2:45
attached income writers but the topic of

2:48
today is letters and numbers and bs

2:50
bonuses and all that stuff i'm going to

2:52
throw it to you mr f-i-a-x

2:55
well after labor day it's the official

2:57
kick-off of a seminar annuity season so

3:01
you're going to eat well

3:03
you're going to hear half truths

3:06
you're going to you know it's it's a

3:08
whole difficult process to skip through

3:11
the bs so swallow the food not the sales

3:13
pitch and order the steak medium rare

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like warm in the middle right mr fia

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yeah we're we're a family show across i

3:20
can't say what i really want to say but

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you know

3:22
you know look there's some good

3:24
information out there i don't want to

3:26
discredit all the agents but i'll just

3:28
i'll discredit a lot of them and

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i could do it very easy when when you go

3:34
into a seminar okay

3:37
and

3:38
one of the things is if the guy hasn't

3:40
called you personally to greet you

3:43
i find that you're not that busy that

3:45
you can't call me you're like they have

3:46
their asses assistance viewers the

3:48
reason why they have their assistants do

3:49
this is they don't want to talk

3:51
it's just bad right

3:54
uh they don't eat and stay a lot of the

3:56
guys just do their deal let you have the

3:57
meal and they leave

4:05
um

4:07
stories are just amazing this is my

4:09
favorite one though sam if you hear this

4:11
in your seminar

4:13
get your food to go okay because here's

4:16
what it is

4:17
you can participate in the stock market

4:19
without the risk you'll get stock

4:21
market-like returns

4:24
ronnie get market upside with no

4:26
downside get the heck out and boy is

4:28
that that's one that i hear more often

4:31
than not

4:32
um

4:33
it's it's just insanity what's being

4:35
pitched out there

4:36
uh if that as we always say as mr fiax

4:40
and i always say if that was true

4:43
then we would go to dc and convince the

4:45
fed

4:46
to buy just indexed annuities because

4:48
that would be the perfect product right

4:51
yeah how did to get all the upside and

4:53
no downtime yeah

4:55
in the actual market in the actual index

4:57
and i'll give you because i think this

4:58
might segue into what we want to talk

5:00
about today

5:02
the asian stone illustrations i know we

5:04
want to talk about the numbers right the

5:05
bs the illustrations

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every illustration you've ever been

5:10
shown by an agent is a lie

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say it again

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every illustration you've ever been

5:16
shown by the agent is a lie future past

5:20
present doesn't matter that hypothetical

5:22
theoretical back tested agent hopeful

5:25
unicorns chasing the butterflies as i

5:28
always say is garbage in french mr fiax

5:32
and that is i mean and to the carrier's

5:35
credit they do put hypothetical on there

5:37
i'm not blaming the carrier on this one

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because i i looked at an illustration

5:41
before we jumped on i know these people

5:43
think we rehearse this and we practice

5:45
and no we jump on and stand and i have a

5:48
conversation do we do we come off as

5:51
two people that practice

5:54
first yeah i know okay so

5:56
one of the things on the top of the

5:58
illustration it says this hype this is

6:00
hypothetical in nature not contractual

6:03
bingo okay that's fair bingo that's fair

6:07
though okay but remember how we were

6:09
talking about the stock market index

6:10
thing and how you get an upside returns

6:12
right this is what it says it says you

6:14
cannot buy or directly participate or

6:16
receive dividend payments from them

6:20
that's not directly invested in the

6:21
market then is it

6:23
oh and me and you both know over 50 of

6:25
the returns historically on the s p 500

6:27
index just to choose one is over 50 and

6:31
you're not getting that with an indexed

6:32
annuity i just think and this and i want

6:35
people out there that's purchased an

6:37
indexed annuity to take this the right

6:39
way and they pray and they purchased it

6:41
for the upside and the growth and the

6:43
pitch and the unicorns chasing the

6:44
butterflies please take this the right

6:46
way but you shut your brain off when you

6:49
did that

6:50
i mean

6:51
i

6:52
i've been saying this for a while that

6:55
um when my clients

6:57
call me about indexed annuity in the

6:59
accumulation value story they dig in and

7:01
they want to know the details and

7:03
they're not the they're not i always say

7:05
they're not the people that the agent

7:07
most agents are looking for they're

7:08
looking for the room at the table the

7:09
sucker the person that trusts the person

7:11
that's going to believe the sales pitch

7:14
i just think people turn their brains

7:16
off when they when they do that and

7:17
they're buying either for fear or greed

7:20
and when you do that you shut your brain

7:21
off in a lot of cases well the greed

7:24
outweighs common sense

7:26
they know better they just want

7:28
the sizzle and they they know better

7:30
they know that it's not that but they

7:31
feel like it was good because they

7:32
really liked the guy and he's really

7:34
good at what he said

7:36
and i give a great example of that i had

7:38
an agent that i was speaking with

7:40
and closer to the bike mr fix people

7:44
that i was speaking with and

7:46
he

7:47
sells one particular product and

7:48
obviously i know we're not going to name

7:50
names we don't want lawsuits no no we're

7:51
not doing that right

7:53
so we go through this

7:56
the whole deal comes up right

7:59
and he goes why sell this because it has

8:01
guaranteed increasing income

8:04
now if i told you stan put your money in

8:06
here and every year you guarantee this

8:08
increasing income what does that mean to

8:10
you it means that i own social security

8:12
and that which is the best inflation

8:13
annuity on the planet but it does not

8:15
mean that it's another product but

8:17
social security doesn't guarantee you

8:19
increase your income every year agreed

8:21
but it's as close as you're going to get

8:23
and so i i asked him i said what happens

8:25
when the product makes a zero for that

8:27
year because we will have zero years in

8:29
the stock market no

8:30
yeah that happens okay yeah

8:33
he goes oh well they don't get an

8:34
increase that year i go but you told me

8:36
i have guaranteed increasing income i

8:38
said words matter how you state things

8:40
matters and how you decipher it matters

8:43
i know what you're saying you're saying

8:45
that if we have an increase

8:47
their income will increase good

8:49
inflation hedge i like the idea but what

8:51
you told me was it was guaranteed

8:52
increasing income the products aren't

8:55
bad the carriers aren't to blame because

8:57
the product is stacked it's how they

9:00
understand it and how they relay that

9:01
message

9:03
in communication to the client

9:06
and when and people that uh annuity

9:08
companies do can build in like on an

9:10
immediate annuity deferred income

9:11
annuity or q lakh a cost of living

9:14
adjustment increase but they simply

9:16
lower the initial payment by 30 to 40

9:19
percent as compared to the same annuity

9:21
without same thing happens in the

9:22
indexed annuity world mr fix you can

9:26
explain this all they're doing

9:28
is they are lowering significantly

9:33
the initial payment you're not beating

9:36
the system you're not smarter than your

9:38
than your neighbor

9:40
you haven't figured it out you haven't

9:42
stumbled upon something

9:44
am i correct mister f is 100 pennies in

9:46
the dollar they're all playing with the

9:48
same pennies in the same dollar so why

9:50
can company a give you all of this and

9:53
company b can't they're playing in the

9:55
same playing field

9:57
so what you're really telling me in a

9:59
real world scenario is there is no pill

10:01
that can make me skinny

10:03
right more handsome

10:05
i'll dunk on it there is no eight-minute

10:08
abs even though i'm right now working on

10:10
a program called six-minute abs

10:12
no there's not okay and this is the one

10:14
that that i was thinking about you the

10:15
other day do you remember this thigh

10:17
master for all you old people remember

10:19
remember that remember the chick from um

10:22
suzanne sellers okay do you know how old

10:25
she is now

10:26
she's like 70 75 74.

10:30
and her thighs look great because she's

10:32
using the thigh master not

10:34
because the thigh master does not target

10:36
the thighs

10:38
it actually makes them bigger because

10:39
your muscles grow the point is

10:41
if it sounds too good to be true

10:43
regardless of who's pitching it

10:46
it is now indexed annuities are

10:48
fantastic they're not too good to be

10:50
true but they're pretty darn good if

10:51
you're looking for cd returns and

10:53
principal protection into it attach an

10:55
income rider but what what mr fia x and

10:59
i are discussing

11:02
is the silly season of how

11:05
of how

11:06
these things are being pitched and i

11:08
defy anybody listening or watching this

11:11
listening on all podcast platforms are

11:13
watching on the phone with annuities

11:14
youtube channel

11:15
if you purchased

11:17
these index news i defy you to explain

11:20
it to me

11:22
i defined it to most of the agents to

11:24
explain it to you

11:26
exactly i mean there's just no way

11:29
there's one that we're talking about

11:30
we're certainly got not gonna name names

11:32
of the carrier because we we love them

11:35
we love all carriers and we really don't

11:37
blame them because once they put it out

11:39
to the agent army they can't they don't

11:41
know what those guys are saying but

11:42
let's go into some of the without naming

11:45
names without naming product names let's

11:47
go into some of the um

11:49
what we call letters and numbers mr fiax

11:52
and how you broke this dude down the

11:54
other day tell that story because it was

11:56
a good one well it's funniest because

11:58
when i talk to that one agent and we'll

12:00
go backwards is

12:02
we were sitting there talking like and i

12:04
had this is a separate agent he used the

12:06
company we'll just call him xyz

12:08
and he said if i put this amount of

12:11
money in it's going to give me 40 000 a

12:13
year for the rest of their life

12:15
income he says and that's all that they

12:16
need and i said well

12:19
10 years down the line

12:20
[Music]

12:22
40 000 doesn't spend like forty thousand

12:24
does it

12:26
i go inflation was what five percent in

12:29
june

12:31
we got problem don't we

12:33
yeah

12:34
well we don't have a problem the the

12:35
client has a problem and the agent's

12:37
long down the road i said well what are

12:38
you going to do to protect

12:41
against you know

12:42
the inflation the cost of everything

12:44
rising

12:45
blah blah i mean uh well you know this

12:47
is what he needs knows what he needs

12:49
today

12:50
i don't know what

12:52
they need in the future so we need to

12:53
have a little better plan than just pick

12:54
up all your money drop it in here and

12:56
here's your check the problem that

12:57
happens with that check stand is that

12:59
the clients see the check and they get

13:00
kind of ethered up and like woo 40 grand

13:03
wow

13:05
but you got to see the forest through

13:07
the trees of what's coming down the road

13:10
and i don't know what that is but you're

13:11
going to need a little flexibility it's

13:13
not just about the biggest number it's

13:14
not just about how much i can get out of

13:16
there and here's the one thing that

13:18
everybody misses in nine to ten years

13:21
that account will be gone

13:23
the income will continue

13:25
right but the cash value all your life's

13:28
work got spent

13:30
like that yeah because you're getting

13:32
your money back with interest with any

13:34
type of lifetime income payment and

13:35
you're transferring the risk to the

13:36
annuity company to pay for the rest of

13:38
your life that's the reason always say

13:40
there's no roi until you die mr fiax i

13:43
want to i want you to dig in and explain

13:45
to the

13:46
to the dutiful listeners and and viewers

13:50
of this podcast which is growing by

13:51
leaps and bounds by the way

13:53
um i want you to explain this sales

13:55
pitch that is proliferating itself

13:57
across the country in the fruited plain

14:01
of all right you buy this index annuity

14:04
and it increases

14:06
you know the income increases with the

14:08
index increase sounds absolutely

14:10
fantastic from a 30 000 foot view can

14:13
you please mathematically destroy that

14:15
so the people aren't buying the dream

14:17
because they're going to own the

14:18
contractual reality

14:20
well let's just break it down into

14:22
simple numbers let's take cds

14:25
how much are cds paying right now one

14:28
i'm going to be nice and say one to one

14:30
and a half percent yeah exactly at the

14:31
time of this typing correct okay

14:34
how much

14:35
are guaranteed fixed traditional fixed

14:38
annuities pay

14:40
like like a multiple

14:42
multi-year guarantee annuity you can get

14:44
up at the time of this taping so look at

14:46
the date please everyone three percent

14:47
on a five year okay so we'll go about

14:49
two seven five to three and a quarter

14:52
between that right let's do that okay

14:55
that's just what it is

14:56
it's life baby so now i come in with

14:58
this indexed immunity and i say look at

15:00
the stock market it's killing it and

15:02
we're going to do this and we're going

15:04
to do that

15:05
these were in range to do somewhere

15:08
between

15:10
about five to seven percent

15:14
we will have some banner years don't get

15:16
me wrong and that's where they catch you

15:19
but historically mr fix historically

15:22
but historically interrupt you

15:24
just we've looked at it's around the

15:26
four percent number it's in in recurrent

15:28
environment with index annuities you

15:30
should go into the accumulation value

15:31
story and listen up all you agents out

15:34
there all the one percent of you the

15:35
other 99 consumers listen as well

15:38
it's a two to four percent play in most

15:40
cases from a return standpoint yes some

15:42
years will be better

15:44
but

15:45
but

15:46
the game the game that's being played

15:48
with some of these products

15:50
on the increase explain how they're

15:52
doing that if you can paint that picture

15:54
it's like showing paintings to blind

15:56
people sometimes

15:57
i think one of the things that i was got

15:59
to note while you were talking is i see

16:01
a lot of these companies say we'll give

16:03
you 120 140 160 210 percent right

16:08
participation

16:10
so what they're saying is if you give

16:11
them a hundred thousand dollars

16:14
it's like a hundred and if you had 150

16:16
participation it's like 150

16:18
000 was working for you right right

16:22
those index those indices that i

16:25
typically find that have that leveraged

16:27
amount

16:29
do worse than if you just had

16:32
60 50

16:34
of a real index

16:36
and when i say a real index i'm talking

16:38
like the s p why is the s p so low like

16:41
50 60 percent because it's expensive to

16:44
buy the option

16:45
so what the insurance company did and

16:47
what all these people have done the

16:49
their their product designers they build

16:52
products and then they go to the

16:53
insurance company and say hey look at

16:55
this cool product we built with our

16:57
actuaries put your actuaries on it let

16:59
them test it if it meets your product

17:02
and goal objectives can we put it on

17:04
your paper you back it and we'll go sell

17:06
it for it

17:08
and there's a lot of those out there

17:09
they're proprietary products they're

17:12
you know some good some not so good

17:15
but i noticed because the s p index the

17:18
dow jones the nasdaq those are the three

17:22
like keys the russell maybe

17:24
those are expensive to buy that option

17:26
cost

17:27
okay

17:28
so for them to meet their goals and

17:30
objectives what do they do they make up

17:31
cockamamie indices

17:35
some work some don't i give a great

17:36
example there was one that came out

17:38
years ago stan and you know what i'm

17:40
talking about i didn't mention any names

17:42
okay with a carrier

17:44
that was at the time

17:46
[Music]

17:48
my eno insurance wouldn't cover me if i

17:50
sold it how's that is that a fair

17:51
statement it's fair because i have to be

17:53
of certain rating or higher right

17:56
and they pitched how if you would have

17:58
sold this product there was never a down

17:59
year since the history of inception

18:01
because they back tested it and they

18:03
showed it in the hypothetical and

18:05
theoretical proposal

18:07
uh package that they showed people

18:09
there is i don't think

18:11
today current and we're talking this is

18:13
10

18:15
12 years now yeah at least at least 10.

18:18
i don't think it's above water yet

18:21
right

18:22
i don't think the index ever crossed

18:24
where it was when it was

18:26
put out to where it is now

18:29
and if it did it's very minimal

18:31
and the clients got nothing

18:35
the agents got paid and the company that

18:37
built it got rich

18:39
and the only hope is if you attach the

18:42
income rider to it and you bought it

18:44
just for the income rider you can turn

18:45
on the income stream but if you bought

18:47
it straight for accumulation

18:49
and growth

18:50
um

18:51
it is i mean it just it's a technical

18:54
term there's a technical term for that

18:55
you got screwed that was the technical

18:57
term

18:59
the client got screwed they didn't they

19:00
made nothing

19:03
when you talked to this you told me the

19:04
story about the agent when you when you

19:06
got him back on the phone and you were

19:08
digging into this specific product and

19:11
it was the one that

19:12
increases your income with the index

19:15
um

19:16
what were the specific numbers that you

19:18
kind of drilled into his head and what

19:20
was his response

19:22
well i thought first of all the income

19:25
started significantly less

19:28
than other companies which is which

19:30
makes sense because they have to lower

19:31
the payment to make up for the potential

19:33
increase because annuity companies don't

19:35
give anything away it's like a running

19:37
start they were walking then then kind

19:39
of do a jog and then you get into a run

19:42
but by time you're running your

19:43
account's empty nine years the account

19:45
was exhausted

19:47
so

19:48
i personally have dealt with clients and

19:49
stan you probably have two but i don't

19:52
think it ever gets presented this way mr

19:54
klein put your money in here we're gonna

19:55
turn this income on and in nine years

19:57
every ounce of your hard work that you

20:00
ever did is gone this account will be

20:02
exhausted if you die there's nothing to

20:04
leave to the kids now you can do a joint

20:07
income with your wife so the income will

20:08
keep carrying we can do joint income now

20:11
but there will be no inheritance left

20:13
over for any of your loved ones now some

20:15
people will say i don't care about them

20:18
and some people will say oh i don't want

20:20
that

20:21
well we we certainly do that here i tell

20:24
people you're getting your money back

20:25
with interest at the if the account goes

20:27
to zero there's they the annuity company

20:29
are still on the hook to pay for as long

20:31
as you live

20:32
and as long as you are breathing but but

20:36
a lot of the pitches that i you know a

20:38
lot of people email me their pdf the

20:40
pitches they're getting and do that go

20:41
stand at the annuityman.com and i will

20:44
factually tell you the truth

20:46
but

20:46
the agents will say you can take off

20:48
take this income and the growth will

20:51
offset

20:53
the income you're taking out which which

20:55
me and you both know is mathematically

20:58
impossible that's the biggest line of bs

21:00
in the world and here's why i say that

21:02
let's just use four percent as a number

21:04
let's say the income rider pays out four

21:06
percent

21:08
let's say we make a zero for the year

21:11
how did i offset

21:14
you didn't now wait do they charge for

21:16
those income riders do they have a

21:18
charge for those riders

21:20
and those fees come out of the

21:21
accumulation slash index side of the of

21:25
the ledger it's typically about we'll

21:27
call it one percent yeah let's be nice

21:29
for easy math it's 95 basis points one

21:31
percent we'll call it one percent for

21:33
easy math they're taking one percent of

21:35
your gain

21:36
but not just the gain

21:39
comes out of the account value so if you

21:41
made interest of say four percent and

21:42
your account went to 104.

21:45
that one percent fee comes off the 104

21:47
doesn't it stan it definitely does

21:50
so now i paid 1 000 40

21:54
that would be 1 400.

22:03
every year

22:04
up or down doesn't matter they get their

22:06
take

22:07
this doesn't make it a bad thing

22:09
it just makes it you need to understand

22:12
the thing

22:13
well and also too i think

22:16
i've never heard anyone but but me or

22:18
you tell people this

22:21
the the writer

22:23
percentage that the income base is

22:25
growing by and by the way it's not jimmy

22:26
carter yield we can't send it to you and

22:28
it's not fungible and it doesn't

22:29
transfer and we can't cash it in

22:33
it's fake it's phantom but you can it's

22:36
that's the it's it's legitimate if

22:38
you're buying lifetime income that

22:40
starts in the future because we can

22:41
determine to the penny what that income

22:43
stream is going to be and shop all

22:44
carries like you shop a plane ticket but

22:46
what me and you tell people is whatever

22:48
that nice jimmy carter percentage is

22:51
the fee is growing by that every year as

22:53
well explain that

22:55
well let's do easy math rule of 72 after

22:59
7.2 percent interest your money doubles

23:01
in 10 years right mm-hmm so if the

23:03
income rider is 7 a year at the end of

23:05
10 years the income rider went from 100

23:08
000

23:09
to 200 000 correct correct

23:12
well then wouldn't that mean that my fee

23:14
went from one

23:15
percent to

23:16
two percent of my original deposit that

23:18
is correct and locked in forever at two

23:21
at two

23:23
well and that's not even and increasing

23:25
if you keep going correct if you if you

23:27
say well i don't want to turn it on in

23:28
ten years let's push it out and keep

23:30
that rider going for fifteen it's gonna

23:32
grow again

23:33
right

23:34
and when you turn on the income rider

23:36
does the fee stop the fee is for the

23:39
life of the policy as long as you're

23:40
breathing now these are just detailed

23:43
things that you need to know that's not

23:44
saying income riders are bad

23:46
income riders are transfer risk pension

23:48
products period but you have to

23:50
understand

23:52
that you're not buying an eight percent

23:54
if i get one more call and i get them

23:56
all the time i'm getting eight percent

23:58
i'm getting eight percent stan i'm

24:00
getting eight percent i found an annuity

24:02
to get me eight percent you only offer

24:03
three on the magaz and i'm getting eight

24:05
percent no you're not

24:07
okay and i and i hate to be harsh here

24:10
but the problem is a lot of the agents

24:12
that are pushing

24:14
uh index annuities only and most most

24:16
indexed annuity gun slingers out there

24:18
just sell indexed annuities they're

24:20
gonna allow you to believe that you're

24:22
getting eight percent and and the sad

24:24
part about that mr fiax is

24:27
people see that on their statement they

24:29
see that growth and then they don't turn

24:31
on the income rider and all they're

24:33
doing is making the annuity company rich

24:35
that's all they're doing uh instead of

24:37
transferring the risk and turning on the

24:38
income rider do you happen to know or

24:41
can you make a

24:42
guess on how many people

24:44
never turn on the income rider even

24:46
though they bought the income rider

24:48
i think i'm going to be kind if 93 94

24:52
do not turn on the rider five six

24:54
percent view and i think that i would

24:55
are you serious i think i would be being

24:58
kind in that okay let's say you're wrong

25:01
completely and it's 50

25:04
yeah let's just say it's 50.

25:06
you're saying stan it's way more than

25:08
that that's insanity

25:10
so

25:11
let's think about this wait i want to

25:12
think about this because you've been

25:13
doing this a long time like i have let's

25:15
go back 20 years

25:16
go back 25 years when income riders

25:19
didn't exist on these products right

25:21
right how many people actually took

25:23
income out of their annuities yeah

25:25
zero

25:26
virtually zero even though all

25:29
deferred annuities if it doesn't have an

25:31
income rider just just for

25:33
your knowledge based on that you can

25:34
annuitize it you can convert it into a

25:36
lifetime income stream if you want to do

25:38
that i'm gonna blow i'm gonna blow

25:39
everyone's head off right now you

25:40
already watched this one let's do it for

25:42
all the ira people people that own irish

25:45
boy i see a lot of these guys put income

25:47
riders on people's iras right right

25:50
which

25:51
depending on the circumstance may be

25:53
justified or not i don't know correct

25:58
but think of it this way

26:00
at 70 and a half back in the day at 70

26:03
and a half you had to turn on the end

26:04
you had to take your distribution and at

26:07
the time of this typing at 72 look at

26:09
the time

26:10
back in the day it was seventy and a

26:11
half right okay

26:13
seventy two now but it was seventy and a

26:15
half i want to play off of seventy and a

26:16
half for right now okay okay the old

26:18
rules

26:21
when i would talk to clients

26:23
the first thing they would say to me is

26:25
do i have to take this money

26:28
i'm like well yeah the government forces

26:30
you to take this one yeah you have to

26:31
they go but i don't need it

26:34
don't have to take it i don't need it i

26:36
go because the government wants their

26:38
cut

26:38
you made a deal with the devil you

26:40
didn't even know it they let you

26:41
accumulate all this money for all this

26:43
time

26:44
now they want their take

26:46
so at seven and a half you have to turn

26:48
it on the number one chosen distribution

26:50
in america was what

26:52
minimum

26:54
why

26:55
because they didn't need the money

26:56
why do i want to take money that i don't

26:58
need

26:59
and pay tax on it

27:03
you mean to tell me in 25 years that

27:05
flipped all the way to where everyone

27:07
wants their money that's a that's that's

27:09
a good point and i always tell people if

27:11
you're going to buy the income rider

27:14
then we're going to turn it on we're

27:15
going to we're we're going to remind you

27:17
that we bought it for future income

27:19
we're going to remind you that the

27:21
percentage growth is a phantom account

27:22
and it's not jimmy carter yield we're

27:24
going to remind you that we put this in

27:26
place for a pension

27:28
and we're going to remind you to turn it

27:29
on because there's that's the value

27:31
proposition of an income rider attached

27:34
to an indexed annuity period not to

27:38
watch it but i i would love i i call

27:41
this the procrastination ratio i would

27:43
love to know the pro the true number and

27:46
the in the companies will never tell you

27:48
that oh i don't think they'd ever want

27:50
to give that number out because it's a

27:51
it's an insane money maker to the

27:53
carrier but i guarantee when they have

27:55
the when they have the grand pub

27:57
meetings and the marble floors and

27:58
they're sitting in there and they're

27:59
smoking their cigars and drinking the

28:01
lattes

28:02
there's a question that comes up that

28:04
says what's the residual number on the

28:07
riders that's never going to get turned

28:08
on

28:10
and they can they give that residual

28:11
revenue number i bet it's gargantuan oh

28:14
my god to be and here's the funny part

28:16
so when i deal with agents and we

28:18
educate them here's the fun part stan

28:21
they go yeah but if they live long

28:23
enough and they out contact you then

28:24
they're in the insurance company's

28:26
pocket and i laugh because

28:28
that's true that's true

28:30
but they're missing that's like saying

28:32
zero is your hero which is another

28:34
saying that index annuity people say as

28:36
well that's dumb but here's what they

28:39
forget

28:41
remember that hundred thousand we put in

28:44
they collected a fee for how long

28:47
as long as you're there i'm breathing as

28:49
long as you're there and breathing off

28:50
of the interest so if it grew

28:53
and then had interest so let's say you

28:54
left it in there for 10 years it grew to

28:56
135 140 000. they stroke they they raked

28:59
one percent every year on that when you

29:02
turned on the rider they ranked that one

29:04
percent fee off of that amount on the

29:06
way up and on the way down didn't they

29:08
all and all the way

29:10
so let's say you actually lived past

29:13
your life expectancy where the agent

29:15
goes well they got into their pockets

29:17
hahaha

29:18
no you just got your fee money back

29:21
you didn't get in anybody's pocket they

29:23
just paid you back with your own money

29:24
didn't they

29:25
which leads me to

29:27
and you just triggered something that i

29:29
tell people all the time and and i get

29:31
these calls

29:32
and really smart people that are are

29:34
obviously attracted to stan the annuity

29:36
man as as you can well imagine mr fiax

29:39
and they'll say well

29:41
you know i could you know i'm looking at

29:42
these uh and do you choose the income

29:45
rider dsp akilah well my investments

29:47
could beat that my god i hope so

29:50
we cannot

29:53
if you are making a correlation or an

29:56
analysis between an investment an

29:57
annuity you're an idiot

30:00
you are an absolutely that's that's like

30:01
saying i bought a hugo and i bought a

30:04
ferrari and i'm going to compare how

30:06
fast they go it's that ferrari for some

30:08
reason wins the race every time i can't

30:10
understand why

30:12
if you can manage your money

30:15
okay and you don't want to turn key

30:18
build an income floor that complements

30:20
your social security then you don't need

30:21
an annuity of any type the reason people

30:23
choose annuities of whatever type

30:26
they're choosing

30:27
is they're transferring risk they're

30:29
either transferring most the time it's

30:30
transferring the risk for principal

30:32
protection or it's transferring the risk

30:34
for lifetime income and then there's

30:36
also a legacy play and a long-term care

30:39
play if those so my acronym is pill

30:41
principal protection income for life

30:42
legacy and long-term care confinement

30:44
care if you don't need to solve for one

30:46
or more of those four then you do not

30:47
need an annuity of any type notice

30:49
there's no g for growth which leads us

30:51
back to the indexed annuity silly season

30:53
mr fiax about

30:56
these products being pitched for market

30:58
growth even though they're not

30:59
securities

31:01
well they're going to give you a better

31:03
than average chance at a better than

31:05
average return say it again

31:08
a better than average chance at a better

31:11
than average return but not guaranteed

31:14
no

31:15
but not guaranteed now the return's not

31:17
guaranteed but the but the principle the

31:19
protection all the other things so what

31:21
you're doing is you're willing to trade

31:24
a guaranteed rate lesser guaranteed rate

31:26
say two and a half to three and a half

31:28
percent

31:29
for some upside if you can live with

31:31
that i guess for lack of a better term

31:33
risk because i'm

31:35
i'm giving away the burden of hand to

31:37
maybe get a little more

31:39
in the bush yeah if you're willing to

31:40
live with that yeah over time index

31:43
annuities will outperform just a regular

31:45
static

31:46
fixed deal they should they should they

31:49
should they may not

31:50
but they should

31:52
one thing i want to go back to real

31:53
quick on these numbers things because i

31:55
know that some of the agents you're

31:56
going to get some hate mail or you'll

31:58
get some from your client stand

32:00
that will say my guy told me well if i

32:02
die that this amount in that income

32:05
account will pay out to my beneficiaries

32:07
there are some products that work like

32:09
that some hundred percent true they can

32:11
take it out over a specific period of

32:13
time basically five years correct here's

32:16
the part that they left out

32:18
there won't be any money left in the

32:20
account so they're not going to get

32:21
anything

32:22
when the accumulation value goes to zero

32:25
which will be in nine to ten years

32:29
all that other stuff goes away

32:32
you are just on a paycheck of

32:34
a monthly paycheck at that point and

32:36
when you go those checks stop

32:39
and i always tell people the best legacy

32:41
product on the planet is life insurance

32:42
it's the best return on investment you

32:44
will never see i'm talking about level

32:45
term those type of things

32:47
you know if i ever mr fix if i ever show

32:49
up dead just out of the blue not covered

32:53
then my wife has killed me because um i

32:55
have so much life insurance

32:58
but it's the best it's the best transfer

33:00
risk life and uh legacy product on the

33:02
planet when you're buying lifetime

33:04
income you should not be buying lifetime

33:06
income

33:07
regardless of the four products remember

33:09
spsd is qlax income riders those the

33:11
four income lifetime income guarantee

33:13
products or strategies you should not be

33:15
buying for legacy you should be buying

33:17
it for lifetime income you should be

33:18
buying it for filling the gap on the

33:20
income floor and just

33:21
as a reminder you can go to my site at

33:23
theannuityman.com and run quotes 24 7

33:26
365 without having to talk to be me or

33:29
anybody else thank you very much

33:31
pro consumer so

33:33
and you can see the number i got this is

33:35
funny off the top of this little i want

33:36
to

33:38
i'm gonna lose this hold that you're

33:39
smarter than that well you're younger so

33:42
that i don't know it's smarter but

33:43
you're younger so hold that thought the

33:45
guy said

33:47
stan the annuity man america's annuity

33:48
agent and by the way everyone does

33:49
address me like that he said stan the

33:51
annuity man america's annuity agent

33:53
i don't like this payout this payout's

33:55
low and my comment to him was i guess

33:57
you're you're kind of pissed off because

33:59
you're young right

34:01
because really what he was saying is i

34:03
don't like the payment because i'm young

34:05
because it's primarily based on life

34:06
expectancy at the time you take the

34:07
payment so when you say oh

34:10
oh look the return return

34:12
it's it's a it's a mortality credit

34:14
transfer of risk shared pool pension and

34:18
if you don't like the payment you you

34:20
you don't like the fact that the annuity

34:21
company's looking at you from and

34:23
looking and saying hey that's a

34:25
youngster even though you might be in

34:26
your 60s

34:28
i have two answers for that number one

34:29
is put in more money

34:31
and you get a bigger payment

34:32
number two is start older and then

34:35
you'll get a higher payment for less

34:37
time as i said car payment yeah take a

34:40
four-year car payment i i pay less for

34:42
longer if i take a shorter payment i pay

34:44
more for less time or same thing in

34:46
reverse i just i always ask people it

34:49
just i said answer me this question this

34:51
is an easy one you can answer it is are

34:53
your social security payments higher at

34:55
age 65 or 70. well it's 70 there's

34:58
reason i'm going to wait bingo chester

35:01
bingo same thing all right what sage

35:04
part of advice did i cut off that you

35:06
retain that you want to share with the

35:08
people well i think it's something that

35:10
that

35:11
the lay person may miss and it was it

35:13
was this is really pointed believe it

35:15
you actually said something good believe

35:16
it or not here we go

35:19
when you go on all these websites and

35:21
you run quotes

35:23
you are going to get inundated they are

35:25
taking that information and they are

35:27
selling it except for us this is where i

35:30
wanted to go stan doesn't care go run a

35:33
quote your big boys your big girls you

35:35
want professional help from a real guy

35:37
that knows what he's doing we figure

35:39
you'll call us we don't need to call you

35:42
exactly i call myself the walking middle

35:44
finger of annuity truth for a reason if

35:46
you want to speak with me you have to

35:48
schedule call because i respect you and

35:50
treat you as a professional these other

35:52
places are lead mills they're selling

35:54
your name for 150 to 300

35:56
to a bunch of agents and you are going

35:58
to get inundated we do not share we do

36:01
not sell we do not it is

36:04
confidential information you can run you

36:07
can go to my site and know that if you

36:09
run quotes

36:11
no one's going to call you no one's

36:12
going to show up your doorstep you're

36:13
not going to get something in the mail

36:15
asking to go to a bad chicken dinner or

36:17
expensive steak dinner and yes i am

36:20
self-promoting because i think this is

36:22
the way

36:23
annuities should be purchased i had

36:25
recent podcast guests he said well stan

36:28
the annuity man america's annuity agent

36:30
you know people just don't wake up in

36:31
the morning and say i'm going to buy an

36:33
annuity they do with us

36:34
we do have a site where annuities are

36:36
bought not sold i mean now the vast

36:38
majority and we're talking about indexed

36:40
annuities most indexed annuities are

36:43
sold

36:44
because

36:45
it's too complex to make a decision on

36:48
your own terms even though i send you

36:50
the book that i've written on index

36:51
annuities and i've done

36:53
hundreds and hundreds of videos and i

36:55
have mr fiaax on still

36:58
still as i always say there's five

37:00
people in the world that can explain

37:01
index annuities and i don't know the

37:03
other three because two of them are on

37:04
this podcast

37:07
bingo it's really pretty but i think

37:09
it's really important to understand when

37:11
you go put your name in that computer

37:12
and you type in for a lead it goes into

37:14
some source and they take that lead and

37:16
they will sell it they're actually going

37:17
for 350 a lead right now they will sell

37:20
your information to someone for 350 and

37:23
they'll sell it multiple times they're

37:24
not stupid this guy doesn't know i sent

37:26
it to that guy so i'll just sell it to

37:28
like 10 people you will get inundated

37:30
with calls from

37:32
the worst of the worst and here's why if

37:35
you have to buy people's names you have

37:38
done something wrong in this business

37:41
exactly

37:43
i totally i totally agree and that's the

37:45
reason we put out all this content i

37:46
want to talk about bonuses we talked

37:48
about in a couple the other two podcasts

37:50
that we have

37:52
you know put on the uh you know in the

37:54
evergreen content world to be consumed

37:56
by

37:58
uh thirsty individuals for the rest of

38:00
their lives it's just great yeah what

38:02
we're doing mr fix is just fantastic

38:05
i think you got to pay attention to the

38:07
bonus and where it goes and i think this

38:08
is a really big misnomer here like a lot

38:12
of people say oh they're going to give

38:13
me and i'm going to use hypothetical

38:14
numbers so we don't uh get in trouble

38:16
with any carrier shannon you're gonna

38:18
give me uh they're gonna give you a 21

38:20
bonus on my money 21

38:22
21 oh my god you put a hundred thousand

38:24
in you have 121 000 day one holy crap

38:27
marge why wouldn't we do that well i

38:29
don't know either we never get the

38:30
application out

38:34
ask where that 21

38:36
goes

38:37
thank you

38:38
i promise you this it doesn't go into

38:40
your account value real money it's not

38:44
real money it doesn't go into your real

38:47
well yeah i think it's a deterrent you

38:48
have a real money account a fake money

38:50
account do you think the insurance

38:52
company is just going to hand you 21 000

38:55
of real money

38:57
so you're telling me there's no

38:58
philanthropist at annuity companies they

39:00
are not a benevolent society

39:04
they are a profit-making company and

39:06
there's different kinds of profit making

39:07
companies they're stock companies right

39:09
you go on the stock exchange and they

39:11
buy stocks so they report to

39:12
shareholders there's mutual companies

39:14
where they report to you

39:16
the client right

39:18
you're the owner so they have to pay out

39:19
dividends if they have extra cash they

39:21
got to pay out the dividends and pay it

39:22
out to you the shareholders at the end

39:23
of the year i personally like mutual

39:26
companies because i think they do give

39:29
you a little more fair shake they don't

39:30
have to worry so let's get back to this

39:32
21 bonus mr f-i-a-x

39:35
that sounds good

39:37
well it is good now i that's why you

39:38
should put more than 100 000 and if we

39:40
take 300 000 you'd get 63 000 and look

39:44
at what your account looks like and that

39:45
is amazing so when you turn this income

39:47
on this income is going to pay you this

39:49
amount of money increasing for the rest

39:51
of your life and your wife because we'll

39:53
do a joint income and you'll always have

39:54
this check amazing and we're tied to the

39:57
stock market so you're going to

39:59
participate in the stock market like

40:00
returns but if i let me ask you a

40:02
question mr x

40:04
if i compared and shopped all income

40:07
riders

40:10
it going to finish first contractually

40:11
on the payout

40:15
that one won't come finish first on the

40:17
payout but

40:18
once again is if you're focused

40:21
i hate when

40:22
it's not the client that's focused on

40:24
the number as much as it is the agent

40:26
that's my belief

40:27
i believe the agent shows the biggest

40:30
number they can because the greed factor

40:32
on the client outweighs the common sense

40:34
i'll give you a great example let's say

40:36
i only need to get twenty thousand

40:38
dollars of income to solve my problem

40:40
but this income rider spits out forty

40:42
thousand

40:44
the client goes oh my god that's twice

40:46
as much as we need

40:48
here's what i see

40:49
you're gonna exhaust your account a

40:51
whole lot faster you're paying tax on

40:52
twenty thousand dollars more money than

40:54
you need and you're gonna have nothing

40:55
left when you may need it

40:59
and i always tell people when you're

41:00
running income quotes

41:03
reverse engineer the quote our quote

41:05
machines have that where you can put in

41:06
okay we need x amount per month how much

41:08
premium is it going to take shopping all

41:10
carries and find the best carrier that

41:11
requires the least amount of premium

41:14
and so the inflation thing comes up okay

41:17
inflation well

41:19
in my perfect world and i do as you know

41:22
mr x i do live in a perfect world that

41:25
at the time you need to address

41:27
inflation

41:28
then we again reverse engineer solving

41:30
for that monthly dollar amount needed

41:32
but inflation is not is not uniform

41:34
inflation

41:35
for staying the annuity man doesn't

41:38
affect me like other people because i

41:39
don't drive i just get on a plane

41:41
occasionally but you know we i don't

41:44
drive anywhere my kids are out of the

41:46
out of the home thank god

41:48
so you know we don't have that type of

41:50
food bill anymore um the point is

41:53
inflation is also customizable and

41:56
personal

41:57
so i always say address it when it comes

42:00
up build the income floor to that

42:02
specific dollar amount that you need

42:04
you know and then when inflation hits

42:06
because uh you you suffer because if an

42:08
agent says to you i have the annuity

42:10
that in dresses for inflation and tracks

42:12
it they are full of crap period

42:17
well i mean there's products yeah

42:19
there's products out there that that um

42:22
have inflation riders will call it cpi

42:25
but

42:26
inflation but

42:28
etc but you know

42:31
what does that exactly cover what's it

42:33
capped out at what does it match that i

42:35
mean there's a lot of moving parts and i

42:38
think you go back to like annuities like

42:39
you were saying is there their annuities

42:41
are still sold they're not bought except

42:44
except at the annuityman.com no they are

42:48
they are bought um because i would say

42:50
um

42:52
i don't know the percentage is pretty

42:53
high 20 to 30 percent at this point are

42:55
people that we've provide they've run

42:57
the quotes we've provided the

42:59
information we've sent the books and

43:00
then they email or call in and say we're

43:02
ready to go and here's why because they

43:05
educated they took the time to educate

43:08
themselves and they didn't take their

43:09
whole life's work and educate themselves

43:12
in a 90-minute or 60-minute bad chicken

43:15
dinner seminar right and if someone ever

43:17
says to you you need to buy it now

43:18
because the bonus is going away or you

43:20
need to buy it now because this cap or

43:21
spread of participation rate is going to

43:22
get loaded you need to buy now all that

43:24
means is the agent needs to make a car

43:26
payment um because there's never an

43:29
urgency to buy an annuity the urgency is

43:31
to fully understand it and then make

43:32
your decision on your terms and your

43:35
time frame i do encourage people listen

43:37
to this if you want to dig into indexed

43:38
annuities then go to my site at

43:40
theannuityman.com and schedule call top

43:42
left-hand corners book a call book a

43:44
call with me we'll talk about it there

43:46
are a handful of of indexed annuity

43:50
that uh that that i like that i've been

43:52
literally guided to by mr fiax that we

43:57
think they are fair and we think that

43:59
you have a potential to get a better

44:01
better than average return

44:03
um if you want to see those i'll show

44:05
them to you we're not going to promote

44:06
them on this because they're not paying

44:08
me ad fees

44:10
mr x well but i don't like to promote

44:12
anything in particular until i

44:14
understand your

44:15
circumstances i don't know i don't you

44:18
know you want to hear the crazy parts

44:19
then

44:20
maybe a fixed index the new youth income

44:22
rider is not free

44:24
no

44:26
no you're not saying you're saying it's

44:28
not one size fits all

44:30
i'm just saying you know here's

44:31
something that i think about that's

44:32
pretty funny and i think you and i i

44:34
think you're gonna agree on this

44:36
if i put a hundred thousand dollars in

44:38
it rolls up to two hundred thousand at

44:40
the end of ten years like income riders

44:41
work and i turn it on and at the end of

44:43
ten years the account's empty which is

44:46
what will happen

44:47
isn't that really a ten year certain

44:49
with a life expectancy

44:51
[Laughter]

44:52
come on you're getting detailed you're

44:54
starting to do facts again come on

44:56
so

44:57
why not accumulate the best money i

44:59
could possibly find and i would think in

45:01
10 years interest rates might be a

45:02
little bit better

45:05
and then you move the money into a

45:07
vehicle that is built to literally pay

45:10
out income

45:12
well and that's that's what i call

45:13
deferred sphere that's deferred to speed

45:15
as deferred deferred deferred defer and

45:17
then by speed at the exact time and

45:18
immediate duty

45:20
and the cool part is this you don't need

45:22
to take all the money to buy this fiat

45:23
just take what you need let the other

45:25
stuff keep growing and then you can keep

45:26
filling the bucket back up

45:28
hey mr x i've got the greatest

45:31
business idea for you i have not shared

45:33
this with you because i was waiting to

45:34
get your facial expression that's a joke

45:36
because he's wearing a mask

45:38
on what i'm getting ready to say um

45:41
i was on a podcast the other day and we

45:43
were talking about cryptocurrency et

45:45
cetera and the person says

45:48
stay in the annuity manner america's

45:49
annuity agent do you ever think there'll

45:51
be a cryptocurrency fiax and i said i

45:54
don't know but that's a pretty good

45:55
sales pitch and here it is

45:57
oh what's coming like

45:58
here it is here it is you can share

46:02
in the upside of cryptocurrency with no

46:05
downside mr jones how much of that do

46:08
you think we can sell oh my god this way

46:11
just look i personally think crypto is

46:13
here to stay in the the i do too

46:16
technology's here to stay but all the

46:18
stuff they're slinging around here

46:20
99 of those things won't be here some

46:23
will but the majority won't but the

46:25
technology's gonna stay technology's

46:27
here there's over 5000 cryptocurrencies

46:29
i read the other day on espn that some

46:31
guy that doesn't even start for ucla

46:33
basketball team he's on the bench for

46:35
ucla mr x he started his own

46:37
cryptocurrency sure this is insanity

46:40
this reminds me of when the goobers were

46:42
out there going well i'm going to start

46:43
my own hedge fund you're an idiot you

46:46
don't even know what that's funny i mean

46:48
people that are doing the crypto yes

46:50
that the blockchain technology's here

46:51
but i just was going to throw that at

46:53
you if you ever decide and i i'm not

46:56
sure i could ever do this because you

46:57
know

46:58
um i care about the people out there but

47:01
if you ever wanted to leave your morals

47:04
at the door

47:06
if you guys want man

47:08
yeah this is a blockchain fia sharing

47:12
the upside no downside

47:14
we're talking about record-setting sales

47:16
mr x what do you think

47:19
yeah that's a tough one huh you know i

47:22
guarantee you people are going to call

47:23
me i heard you talk about that crypto

47:25
indexed annuity i'd like to put a

47:28
million in that one we're joking we're

47:31
we're joking

47:32
we're joking

47:35
but the problem is though is they'll

47:37
always keep trying to find a way to do

47:39
that the only downside i think would be

47:41
is i i i would be very curious to see

47:43
what the option what the hedge cost

47:44
would be to try to buy an option on

47:46
something so volatile oh my goodness i

47:48
would think it would be quite expensive

47:50
but i don't

47:52
what do you know you're the expert mr x

47:55
you know he is um

47:57
i know what else is happening out there

47:59
i mean we got a few more minutes and the

48:00
people are leaning in they've pulled

48:02
their cars over they've stopped the

48:03
treadmill

48:04
uh so that they can listen intently to

48:06
you mr f-i-a-s

48:10
i want to go back kind of where we

48:11
started with a little recap is remember

48:13
those illustrations and stuff are

48:14
hypothetical and i told this language

48:16
out of one of them which i thought was

48:17
hysterical says it's not intended to

48:19
serve as a projection or a prediction

48:24
that's what it says all the agents do is

48:25
they show you look look what this could

48:27
do they use it as the projection they

48:29
use to read that again that's from the

48:31
proposal it is literally out of the the

48:34
illustration and i challenge all of the

48:37
people on here read the illustration and

48:39
you'll be like what and i promise you

48:41
majority agents can't answer the

48:43
questions so read that read that

48:44
sentence again

48:46
the illustration is not intended to

48:48
serve as a projection or prediction

48:50
except for the guaranteed values

48:54
so in other words everything below here

48:56
ignore except don't ignore it because

48:58
that's part of the sales pitch right

49:00
ignore everything except the one column

49:02
where it says guaranteed

49:06
iron

49:07
i know i i and here's the sad part about

49:09
this it doesn't make them bad no no it

49:12
means you have to understand what you're

49:15
getting into i i encourage people to go

49:20
to the new to the annuity man stand the

49:22
annuity man youtube channel which is

49:24
different from the fun with annuities

49:25
youtube channel yes i do have multiple

49:27
but the standing annuity man youtube

49:29
channel if you go to the playlist

49:31
section of that mr x i've done a ton

49:34
of videos on indexed annuities to the

49:36
detail you can go to my site at

49:38
theannuityman.com i'll send you a book

49:40
called the fi 8

49:42
owner's manual fixed index annuity

49:43
owner's manual

49:45
could be the best thing ever

49:48
uh and guess who consulted on that mr x

49:50
i mean we

49:51
dug in there yeah we dug in there and

49:53
got it done my first book

49:56
the annuity stanifesto yes had a great

49:59
section on index annuities which mr x

50:01
helped out on the point is educate

50:04
yourself

50:05
and and don't be afraid to ask for a

50:08
specimen policy

50:10
okay not just a brochure a specimen

50:12
policy and if any agent balks at giving

50:15
you a specimen policy

50:17
that person is not your agent now the

50:19
only way you're using an agent other

50:21
than the annuity man is it's your

50:22
brother-in-law or sister-in-law that's

50:24
selling you know annuities that's the

50:26
only way that's even scarier that's even

50:28
scary but or or and don't or i heard one

50:31
the other day of the uh indexed annuity

50:33
seminar at the church

50:36
guy was guy was soliciting the flock he

50:39
was flocking the flock and it was

50:41
horrific church that's church that's

50:44
scary

50:46
so just be careful out there any last

50:48
words mr fiax obviously you're going to

50:51
be on again

50:53
um you know when your learjet you know

50:55
lands in the states and i can get you on

50:57
online anything out there for the people

51:00
when it comes to indexed annuities

51:02
because once again

51:04
they're not too good to be true but

51:05
they're pretty darn good when you

51:06
understand them and use them

51:08
appropriately what would you tell the

51:09
people it's easy just a few simple

51:11
things number one figure out what you

51:13
want to do stan this is something that

51:15
we've always said it's your money what

51:16
do you want to do for you yep so you

51:18
need to figure that out okay number two

51:20
is you need to educate yourself read up

51:22
take the time i think i find it amazing

51:24
that in 60 minutes you'll give me your

51:26
life savings

51:28
uh

51:29
with a good steak dinner with a steak

51:31
that's cooked medium rare warm in the

51:32
center i have always found that amazing

51:35
okay

51:36
and and read and get educated and then

51:38
the third part and i think this is very

51:40
important

51:41
take a pad of paper and a pen

51:44
leave it on the counter

51:46
and as the weeks go by keep writing

51:48
questions down on that path

51:50
and then you make your call to stand and

51:52
then go through every one of your

51:54
questions and

51:56
don't do anything

51:58
until those are

51:59
answers are satisfactory to you and you

52:01
fully understand yeah the last thing i

52:03
want to i want to add this

52:05
is advisors and agents should never be

52:07
your friend

52:08
you know i have thousands of clients

52:10
they are not my friends

52:12
i am not their friend i'm their advisor

52:17
you don't want your cancer doctor to be

52:19
your friend and when agents start using

52:22
hey look at my kids or look at my

52:24
grandkids or you went to state u and i

52:26
went to state u

52:28
put them back in their lane and say

52:29
enough about that let's talk about the

52:31
details of what you're trying to sell me

52:33
i could give a rip

52:35
about your kids your grandkids where you

52:37
from and all that stuff that's just

52:39
fodder to

52:41
earn your trust the trust should be in

52:43
the policy the trust should be in the

52:45
contract this trust should be in the

52:47
carrier that you're transferring the

52:48
risk to and the trust should be and the

52:50
contractual guarantees only and lastly

52:53
the trust should be in the competence of

52:55
the agent to explain it crystal clear to

52:57
you

52:58
factually not not some sales stuff right

53:01
no exactly

53:03
you know what mr fix we have blown

53:05
through another session easily of course

53:07
because we're rolling we're like butter

53:10
right on a roll get it mr f

53:13
i understand well listen to everyone out

53:15
there i appreciate you joining me join

53:17
me every single week until i stop

53:20
breathing for fun with annuities the

53:22
number one annuity podcast on the planet

53:25
see you next week

53:31
thanks for listening to fun with

53:32
annuities please hit the subscribe

53:34
button and make sure to go to my site at

53:37
the annuityman.com where you can run

53:39
your own spea dia and culat quotes and

53:42
see a live feed of the best mica fix

53:45
rates in the country and even get

53:47
indexed and income rider quotes as well

53:50
you can also sign up for my six annuity

53:52
owner's manual books and i'll ship them

53:54
for free and under no obligation i also

53:58
encourage you to schedule a one-on-one

54:00
call with me stan the annuity man so we

54:02
can have a full discussion of your

54:05
specific situation it will be the best

54:07
brutally factual and truthful advice

54:10
you will ever get and that's one

54:12
guarantee you should definitely take

54:14
advantage of so join me next time for

54:16
the number one annuity podcast on the

54:19
planet

54:20
fun

54:20
with annuities

54:24
[Music]

54:35
you