4 Annuity Options for Guaranteed Income Later

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Welcome to Q&A Friday. I'm your host,

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Stan the Annuity Man, America's annuity

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agent, licensed in all 50 states.

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Today's question is, "Hey, Stan, what

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are the four choices that you lay out

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for what you call income later?" And

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income later is very basic, right? You

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need in guaranteed income, but you need

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it to start at a future date. So, here

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are the choices, the four choices,

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period. There's not just one. I know

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that everyone's trying to sell you an

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index. No, an income writer. I mean,

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that's one of them. So, let's talk about

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that. income writers are attached

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contractual lifetime income benefits

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attached at the time of application to

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index annuities and variable annuities.

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We don't sell variable annuities because

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the income writers are contractually

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higher attached to index annuities

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historically. Now once that that income

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writer is attached to an index annuity,

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the index annuity is irrelevant to us.

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We only use that as a as a efficient

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delivery system for the income

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guarantee. But the income writer is

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going to tell you the exact dollar

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amount that the income is going to be

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when you turn it on at a future date,

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joint life, single life, whatever, IRA,

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Roth IRA, doesn't matter, nonirra, etc.

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So, income writer, it's a it's a very

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efficient way to do do future income. It

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does come with an annual fee that's

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deducted from the accumulation value for

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the life of the policy, but you will

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know exactly what it is. It's flexible,

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meaning you can you can change the start

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date after the policy has been issued,

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etc. We'll get into all that, but that's

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the first way. Income writers attach to

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index annuities. The second way is

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what's called a deferred income annuity.

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And a deferred income annuity is an an

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immediate annuity that you defer. No

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moving parts, no market attachments, no

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caps and spreads and all that stuff, no

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bonuses, anything. It's a straight

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pension that you start at a future date.

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The longer you allow a company to hold

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on to the money, the more they're going

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to enhance the payout. That's that's

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that's another way to do it. Downside to

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that, it's irrevocable. Once you lock it

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in, it is what it is. you're going to

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get your money back through payment form

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and you can structure it so that if you

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die in a fire or your leerjet crash and

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your beneficiaries get all the money

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period and the evil annuity company

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doesn't keep a penny. The third way to

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do this income later is what I call MA

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to SPIA. I just did a video on that. You

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can pull that on my YouTube channel. And

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what it is is you buy a fixed rate

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annuity, a multi-year guarantee annuity

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is the annuity industry version of a CD

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and at the the end the duration then we

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transfer that non-T taxable event to the

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highest contractual guaranteed immediate

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annuity at that time. What have you

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done? you what have you done, Stan?

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Here's what I've done. Stripped out all

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the fees, giving you full contractual

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guarantees on the annual interest rate

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you're earning. You have flexibility at

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the end of the duration. You get all

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your money back with interest and go on

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your merry way if you don't need income.

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And then at the time, if you still need

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income at the end of that duration, then

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we go shop all immediate annuity

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carriers for the highest contractual

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guarantee at that time. Very flexible,

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no fees. You're in control. Simple,

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simple, simple. If Warren Buffett was

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going to do income later, he'd do my

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good or he would do the last one. And

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the last one is this, and this is the

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one that's going to disturb the annuity

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industry. Don't buy an annuity until you

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need the income. And then at that point

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in time, buy an immediate annuity. Give

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you an example. Let's just say you,

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well, I think I'm going to need income

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in 10 years. Okay, that you don't you

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don't have to buy an annuity. You could

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buy an income writer and know 10 years

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from now what it's going to be. You

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could buy a deferred income annuity and

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know it's going to go the income's going

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to be in 10 years. You could buy a MIGA

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and then turn it into a SPIA 10 years

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from now or you you know I'm getting

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ready to say it not buy an annuity at

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all right now and at the time you need

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income then come to us and shop for the

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highest contractual guarantee immediate

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annuity payment. Here's the good news.

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You can go to my site at the annuity man

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and run quotes on income writers. We're

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the only ones with an income writer

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calculator on the planet. Income writer

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quotes, QAC quotes, DIA quotes,

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immediate annuity quotes and see live a

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live feed of the best migrates. So, in

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conclusion, four ways to solve for

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income later. None are better than the

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other. It's something that we need to

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discuss to see what works for you. I

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will tell you, I had a a conversation

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right before I I got on this uh

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recording and the general was thinking

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about an income writer with index

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annuity because of course that's all

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he'd been pitched locally by the people

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pushing that. I said, "You know what?

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You I I wouldn't do that for you. I

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would do a MGA and then at the end of

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that duration, let's go shop Spas

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because you might have a change of heart

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at that specific time." He liked that.

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He's going to do the muspia because it

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fit his specific situation. So hopefully

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that clarified things and I'm assuming

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it did and I'm pretty confident that it

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did.