Annuities: A Strategy, Not a Game: Shootin' It Straight With Stan

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welcome to shooting it straight with

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Stan I'm your host Stan the annuity man

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America's annuity agent licensed in all

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50 states today's topic is a good one

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listen up lean in get comfortable grab

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the coffee because what we're going to

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talk about is your retirement plan is

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not an annuity game okay there's a lot

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of people in the annuity industry that

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are just looking for looking for nails

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and they're the hammer they're going to

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sell one product they're going sell it

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to every single person they're going to

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get you to a seminar or in their office

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and they're going to sell one product

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and they're going to sell the highest

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commission product in most cases not all

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cases and and there's some really great

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people in the annuity

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industry um we consider ourselves the

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annuity man the thought leader in the

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spaces because I've done so much

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edutainment entertainment and education

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thousands of videos published seven

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books on the on the topic you can get

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those books at my site at the annuity

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man.com written articles been on every

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show on the planet and you know with the

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demographic tidal wave of 11,000 12,000

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whatever the number is of people turning

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age 65 every single day that's a that is

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a demographic tidal wave that that's

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people that are looking

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for lifestyle they've earned it they

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want to do chapter two of their life on

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their terms most people are not looking

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for market growth most people have come

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to the conclusion that they can live off

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the money or live contractually off the

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money or peel interest off the money or

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set up lifetime income streams with

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annuities in combination with Social

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Security with their money they're not

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looking to hit home runs I always tell

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people you go from looking to hit

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standup doubles and standup and slide in

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triples and home runs to bump singles

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baseball analogy when you go to chapter

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two of your life your retirement plan

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should be about bunt singles it should

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be about going to the cocktail party and

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understanding that you're everyone's

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going to say well you missed out on that

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one then you missed on that one and

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you're going to be okay with yep you're

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right but everything's contractual I

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know where everything is I can explain

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it to a nine-year-old it's simple it's a

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simple simple plan your retirement plan

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is not an annuity game and the reason I

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say that is a lot of agents and

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advisors whether they call themselves a

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fiduciary or not that's that's a joke

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I'm going to tell you right now there's

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some there are some people that have a

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fiduciary plaque on the wall that are a

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180 fiduciary what's fiduciary stand

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good question a fiduciary is someone

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in the financial business that puts the

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customer best interest ahead of theirs

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shouldn't that be everybody why why is

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there a needed plaque on the wall I mean

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that's insane that's like putting a

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plaque on the wall saying I'm a good guy

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well I don't know are you well look I

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got a plaque on there plaque says I'm a

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good guy right there it says that I'm a

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good guy plaque the the plaque beside it

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says I never lied that PL that hey I got

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a plaque there I mean that's I mean fidu

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Sherry I understand the reason we need

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those things in place for the industry

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the financial industry because there's

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some issues there's always issues

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anytime there's commissions and things

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like that

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but I always tell my team that we listen

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with our ears and mouth and we listen to

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people with their ears and mouth

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proportions so we talk less we listen

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more okay we tell the truth because my

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grandfather always said if you tell the

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truth you don't have to remember

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anything so we tell the truth but this

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isn't a game when we're talking to

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people about chapter 2 of their lives

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this isn't a game this is their

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hard-earned money this is their life's

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work this is what they've scrimped and

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saved and done without this is the lump

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sum that they're worried about this is a

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big decision this is not a

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game I was recently in my Las Vegas

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office which is the main office for the

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annuity man at this point and I said and

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I said that I started started I said hey

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I hope everyone's doing good what are we

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going to talk about well I'm going to

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remind you this is not a

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game we're very serious about what we do

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but we don't take ourselves too

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seriously but this is not a game and it

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shouldn't be a game for

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you when you are pitched anything and

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let's just talk annuities as as a whole

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here understand that annuity commissions

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are built in they're hidden from the

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client good or bad you can say what you

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want they just are the more simple the

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product the lower the commission the

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more complex and long-term the product

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the higher the

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commission ask what the commission is

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ask hard questions mush meski which is

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arguably between him and Wade fou and

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Michael FAA I had kind of do a a

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juggling Act of who the smartest annuity

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people are in the room and I know I'm

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leaving somebody out I Tom heg know

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whatever um all those people are are

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been on my podcast fund with annuities

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um and I I so honored that they chose to

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share their wisdom with everyone but MH

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meski said ask hard questions ask tough

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questions if you don't understand the

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hypothetical or theoretical where you

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shouldn't be buying the annuity for that

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anyway have them explain it until you

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understand it and if you don't ever get

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to the point of understanding it don't

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buy

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it don't take anyone's word for it and

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I'm including the annuity man.com take

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the contractual guarantees word look at

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the specimen policy if you want to see

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one

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look at the contractual guarantee when

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you're looking at single premium

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immediate annuities deferred income

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annuities qualified longevity annuity

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contracts multi-year guarantee annuities

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those are contractual guarantee products

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there's going to be no changes period

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but there are some products that have

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moving Parts you have to fully

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understand that this is not a

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game if a person is has sent you a

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postcard to a state house that you'd

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never go to but they're going to pay for

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it which should put a little bit of red

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flags and I always say swallow the food

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not the sales pitch and they're pitching

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one type of product with one

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company shouldn't that shouldn't alarm

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Bells go off shouldn't you look at that

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person and say this is not a game this

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is my retirement okay this isn't an

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annuity game to see how many you can

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sell and if you sell enough you go on

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the trip to Bora Bora with your

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girlfriend boyfriend spouse or whatever

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applies this isn't a

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game and I hate to be harsh and I hate

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ha to be intense like this but you

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know a lot of times my managing director

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will tell me stories that they get

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through the team you know when people

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book a call and they're horrific stories

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where the selling agent or

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advisor I don't know if it's on purpose

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or whatever they're looking at this as a

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game they're looking at your money as a

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game also understand that the annuity

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industry frowns upon on you putting any

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more than 50% of your investable assets

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that does not include house car or

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guitar okay investable assets and

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annuities now can we push that just a

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little bit if there's a good case for it

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maybe to 60% yeah but the what the

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National Association of insurance

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Commissioners nic.com suggest it's not a

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law or rule it's

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suggestion and they talk to the carriers

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about this is let's not overfund

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annuities so if someone is saying well

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you know how much do you have in your

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401k sir you say well I've got 400,000

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well how much is that of your total

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portfolio that's pretty much it well

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let's put it all in annuity you know

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what you say to him this is not a game

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okay this is not a

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game you know they need to know the

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rules now obviously we want you as a

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client but I understand if you want to

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you know go to the local office your

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brother law or sister selling Anu I get

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all that or your your frat brother who

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has pictures of you and you have to go

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in be

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client

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but annuities are contractual annuity

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policies are contracts you should shop

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all annuities for the contractual

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guarantees only why because when you do

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that you completely turn the products

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into Commodities which means we can shop

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all carriers for the highest contractual

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guarantee for your specific situation

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and you know that uh you got to go in

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knowing that quotes change like a gallon

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of milk once carriers reach capacity for

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your specific age or product that

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they're putting putting out out there

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then they're going to lower the

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guarantee or pull the

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product okay so that's the reason you

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you look at the contractual guarantees

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only of the policy if you're being

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pitched an annuity by a person they're

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only showing you one annuity and they

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say hey I we've looked at them all and

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this is the best one the answer to that

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this is not a game this isn't a game

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show me five other carriers that have

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the same exact type of product if they

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can't then they're not your agent

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they're not your advisor they're on an

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agenda driven sales

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path and I'm not putting down the

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industry because every industry has bad

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apples but the majority of the people in

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the annuity industry are good people but

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you are going to run into it if you're

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out there shopping around you're going

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to run into the hammer looking for the

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nail and you have to say this is not a

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game this is my retirement this is what

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me and the spouse have worked all of our

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lives for we take this very serious

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we're going into chapter two of Our

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Lives which is about lifestyle and

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family and health and making sure that

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we live the way we want to live

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this is not a game this is not an

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annuity

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game

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period just remember ask two questions

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every single time when you're

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considering annuities what do you want

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the money to contractually do and when

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do you want those contractual guarantees

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to start and I always use my acronym

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pill to see if you even need an annuity

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and if you don't need anything in this

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pill that I'm getting ready to tell you

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then you don't need annuity principal

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protection income for Life Legacy and

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long-term care confinement care if you

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don't need to contractually underscore

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that UND underline that contractually

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solve for those specific items in the

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pill one or more than you do not need an

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annuity this is not a

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game the pill is not a game the two

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questions are not a

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game these are contractually guaranteed

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ways to get to the finish line and know

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exactly what's going to happen with no

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surprises wouldn't it be great to go

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into retirement with no surprises

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financially

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think about if you had guaranteed

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lifetime income products annuities you

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had CDs and triaa AAA municipal bonds

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and treasuries and money markets and

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things would never go down maybe Legacy

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dividend stocks things like that

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whatever and and you had contractual

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guarantees in place you had your income

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floor which includes Social Security the

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best inflation annuity on the planet a

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pension if you're so fortunate from your

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employer whatever income floor products

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you put in in addition to that to make

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sure money's going to hit your account

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every single month that's not a game

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okay you know that's not an annuity game

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that's annuity contractual

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guarantees another example of a game is

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when when um you're pitch The Upfront

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bonus well buy this transfer the money

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for the upfront bonus you know what's

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the answer you're right this is not a

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game okay this is not a game tell the

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person you're talking to the wrong

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person if that's your pitch this is not

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a game

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I gotta I gotta make a t-shirt that says

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that walk through the house my wife's

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like what what are you what game I'm

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like this is not a game I just keep

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repeating it but I'm passionate about

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this I mean

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listen I come from rural North Carolina

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my wife comes from rural Nebraska okay

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we came from nothing just like probably

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most of you came from nothing okay we're

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not inheritance babies we didn't get a

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lot of we didn't a lot we didn't get a

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penny what are you talk about um and

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that's okay our parents did the best

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they could they were fantastic they

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tried hard I get it but I always tell

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people you know when you're looking for

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advisers maybe look for one that's grown

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up poor because when you grow up poor

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you understand the value of a penny you

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understand that you don't want to lose

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any money and I think that's probably

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you know my my therapist would probably

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say that's the reason you've gone to the

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contractual guarantees standpoint St is

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because you don't like to lose any money

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you're right I don't like to lose my

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money and we definitely don't ever lose

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your money because all we sell are

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contractual

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guarantees so I know what you're saying

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Stan this is not a game is in the back

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of my head good good because every

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single time when someone's pitching you

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something I want you to think to

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yourself This is not a game let me ask

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hard questions let me ask tough

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questions let me understand everything

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before I make a final decision on this

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hard earned money Sweat Equity that I

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have right here this lumps some going

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into

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retirement I encourage you to go to my

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site at the anity man.com book a call

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with us watch all these videos I've done

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thousands of them and I'm going to

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continue to do them as long as I'm I can

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you know find the baseball hat to put on

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right I'm going to keep doing these to

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Ed educ edutain you educate you

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entertain you and also remind you with

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those type of phrases that hey take this

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serious you know go into these meetings

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hopefully it's with us but you know

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you're in control it's your money it's

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not their money right DOD your head my

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name is Stan the annuity man that's

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shooting it straight with Stan I will

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see you next time