Belt & Suspenders Annuity Strategies: Shootin’ It Straight With Stan (TAM Classic)

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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 great one

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coming from the deep south of where I

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grew up in Charlotte North

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kakalaki North Carolina actually the the

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town seriously and I'm not kidding look

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it up it's called Stanley North Carolina

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just like it sounds St n l e y and I'm

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going to tell you right now it was named

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after me it should be but it wasn't but

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that's where I grew up Stanley North

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Carolina Gaston County but this topic is

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a good one it's belt and suspenders

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annuity strategies and you're like wait

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a minute St what belt and suspenders

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well for all of you out there that

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remember

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suspenders um when I was on Wall Street

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and looking really Dapper going to work

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in New York at Morgan

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Stanley I had the suspenders I was

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looking pretty Suave okay but I don't do

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that anymore but we all have that Uncle

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that shows up to the

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reunion wearing a belt and suspenders if

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you go to I want mention some of the

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large big box retailers out there some

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of those places are my favorite

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restaurant in the world Waffle House if

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you don't know where that is you haven't

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driven on I95 yet um and it is truly my

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favorite restaurant on the planet I mean

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TR to to work at Waffle House and be a

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chef you need to be a Mena level mental

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person because if you've ever heard the

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orders being yelled at by the waitresses

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and waiters to the cooks there's not a

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person watching this that can do that

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unless you've been a Waffle House cook

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there's not one of you because they're

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like it's like a code and they'll give

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seven straight orders and they all get

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them right and it comes out perfectly

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but belt and suspender strategy is my

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uncle Chester showing up to the Garrison

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family reunion that's my mother's side

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of the family also underneath Abes we

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were abertis and Garris

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right so the abery Garrison reunion

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Uncle Chester shows up with belt and

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suspenders I guess just because he wants

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to make sure that the pants don't fall

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down and thank God for that goodness for

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that because we don't want to see that

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you know nobody wants to see that okay

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but beld and suspenders always looked at

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as a kid and go well that's kind of

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repetitive and you know why is he why is

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he doing why you just wear suspenders

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why would you belt and on Wall Street if

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someone showed up with the belt and

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suspenders they would have been roasted

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I mean they would they' have been made

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fun of paraded around put on the trading

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floor desk and yelled at and whatever

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it's like the day this is a true story

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first day Wall Street I came from I mean

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literally I came from no money so I

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didn't know I was a basketball player in

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college and boy could I shoot the rock

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but the point is I first first day okay

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I show up in a short sleeve dress shirt

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which is a

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misnomer it's it it doesn't make sense

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they literally roasted me and walked me

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down to the to the I guess it was Brooks

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Brothers downstairs which I didn't have

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the money to buy and my maners just put

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it on his card just said please buy him

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clothing because that's ridiculous but I

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didn't know my parents bought me short

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sleeve dress shirts so the belt and

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suspenders annuity strategy hits home

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why and I'm going to tell you what

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there's a couple of ways that I look at

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belt and suspender annuity strategies

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let me tell you the first one the first

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one is when people look at the state

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guarantee fund and if you want to go

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look at the state guarantee fund is www

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n

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lg.com nohga

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docomo each state has a specific rule in

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place to protect you and protect your

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money in case something happens to the

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carrier of which we're not going to

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recommend that carrier anyway because

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you know we we really do look at the

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financials of the carriers Etc and take

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that very serious but if you're saying

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oh care what you say Stan I want a belt

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and suspenders then what we'll do is

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we'll look at the state guarantee fund

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and let's just say you wanted to buy

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three annuities we'd buy them underneath

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that state guarantee fund That's What I

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Call belt and suspenders strategy so I

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had a I had a call recently and the

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person you know they always ask me what

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do you think about State guarantee funds

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and yeah I'm like you know it's not FDIC

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it's not sipc it falls underneath those

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from a safety standpoint and you really

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should be buying the claims paying

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ability

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of the annuity carrier the life

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insurance company that's issuing the

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annuities from the standpoint of safety

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and I honestly think that the true

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safety of the annuity industry is the

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industry itself policing itself in other

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words companies buying other companies

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and making sure the Golden Goose of

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confidence isn't gored and go away

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because once it does it's over in other

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words if my mom didn't get an annuity

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payment one month she'd be on national

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news going I'm gonna tell you something

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about those an companies then get my

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money I mean it'd be over it'd be game

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over and the annuity companies know that

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they do not want my mom on National

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Television on NBC Nightly News going I

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didn't get my n payment I mean they

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don't want that so but regardless of me

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weighing in with my 30 plus years of

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experience on by the carrier strength

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and don't worry about the state

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guarantee fund a lot of you out there

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going I ain't listening to you I'm going

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to do that built and suspenders thing

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and that's okay but recent call this

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person said not only do they want able

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plus carriers the top of the line top

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tier they wanted able plus carriers and

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they wanted to buy the multiple multiple

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annuities different carriers and under

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the state guarantee fund that's like

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that's the ultimate belt and

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suspenders annuity strategy which is

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you're you're getting the coverage of

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the state guarantee

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fund which by the way has kind of really

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never been truly tested in a chaotic

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world that's a good thing kudos for the

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annuity industry I always tell people

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Anu life insurance companies that issue

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annuities aren't smarter than Banks

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they're just more regulated than banks

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in other words they're not allowed to do

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stupid things they're handcuffed for

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financial stupidity which is good

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because you and I both know regardless

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of the good intentions of anyone in

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charge they ended up they when it's not

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really their money they start making

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stupid decision unless they're regulated

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into being smart of which they then take

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full credit so that's the first way to

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do belt and suspenders which is Buy a

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good carrier and then buy that uh the

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dollar amount underneath the state

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guarantee fund or within the state

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guarantee fund rules again

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nohga

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docomo I do not have every single state

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um memorized even though I'm licensed in

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all 50 states but I don't do that

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because I just

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don't that's crazy but the other way to

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do belt and suspenders annuity

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strategies there's a lot of people out

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there go

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I never BU anity stand because an

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annuity and they think there's only one

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type and there's like 10 an annuity if I

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die the annuity comp keeps money I don't

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want that that's not fair that's the

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reason I hate all annuities I'm like you

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hate Social Security well no well that's

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annuity hate pension well no well that's

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an annuity um but what for belt and

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suspender strategies for Lifetime income

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and there's four different types of

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annuities that provide lifetime income

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and then there's annuities for principal

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protection or Legacy or long-term care

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which means there's a lot of annuity

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types but for the people out there that

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believe that the evil annuity company

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are going to they're going to keep the

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money the belt and suspenders annuity

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strategy would be life with cash refund

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or joint life with cash refund life with

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installment refund or joint life with

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installment refund or life with a period

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long-term period certain or joint life

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with long-term period certain long-term

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me 20 30 years what does that

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do it covers your life as long as you're

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breathing joint life as long as one of

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you is breathing so it's going to pay I

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call it ventilator annuities as long as

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you're on a ventilator and you're

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breathing um but when your Learjet hits

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the mountain when your you know big

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truck hits the tree you know when your

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skateboard flips and you hit your head

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don't

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escape okay when that happens what it

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you can structure lifetime income so

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that 100% of any unused money goes 100%

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to the list to beneficiaries of the

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policy and not a penny to the evil life

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insurance company that issued the

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annuity so the I knew compan Gonna Keep

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the money that's garbage in French okay

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now can you structure some annuities

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life only meaning that you know you hate

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your beneficiaries and you want the

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highest payment and when your lit hits

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the mountain money goes poof and you

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don't care sure that's that's

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misanthropic annuity strategies I should

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do one on that for all you misanthrop

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out there but belt and suspenders means

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that you've got you got tripley DIY dupy

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coverage you got super D duper that's

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Barney remember the the per my kids were

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growing up they were watching Barney

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that purple elephant thing for kids

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remember that that always seemed weird

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to me man like I would watch that and

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and listen to him like there's some

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goober inside there that that that just

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wrong but he'd say that's super D duper

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but that's a super D duper built in susp

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end annuity strategy because if you

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really want to get fancy you do you do a

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really good carrier then you do it under

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the state guarantee fund and then you do

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um cash refund installment refund or a

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long-term period certain attached to the

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lifetime income component I guess that's

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a belt and suspenders with duct tape

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around the middle I mean that's tripley

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duper I'd love to see that I would love

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to see my uncle Chester had walked into

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the Garrison

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aberna aberna

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I love that name uh family reunion where

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seriously some of the best food on the

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planet can we get can we get a annuity

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Amen on Old School family reunion

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food man it was worth being cornered by

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Chester talking politics to eat that

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stuff that was being made there by my

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grandmother and my aunts my gosh I mean

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that kind of food unbelievable but I

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would have loved if he'd walked in belt

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and suspenders and then duct tape around

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the belt then I would have said Chester

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I'm serious I I love what you're doing I

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love the look in fact I might have just

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started a trend right there I guess what

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I'm trying to get across to you is you

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can protect yourself and your

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hard-earned money a myriad of ways you

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can protect it by buying very good

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companies you can protect it by buying

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underneath the state guarantee fund

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within your state again

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nohga and then you can protect it one

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more time with lifetime income by

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structuring the policy so that 100% of

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any unused money goes to your family or

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whoever you listed as beneficiaries I'm

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assuming it's family could be anybody

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but whoever you list as the

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beneficiaries of the policy is going to

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get whatever is left over of that amount

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in the annuity account if you live

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forever and you and you live to

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155 there's going to be nothing in the

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account and there's going to be no death

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benefit but it doesn't matter because

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you're 155 years old hello but you can

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structure it so that the evil annuity

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company doesn't keep a penny you can

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structure it so that if something

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happens to the company that the state

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and the state guarantee fund is on the

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hook to pay that's belt and suspenders

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annuity strategies and I hope that I've

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evoked some memories of those really

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cool family reunions with that really

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good food that you like your Aunt Martha

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made you know your Aunt Martha made the

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peach cobbler and you wanted to fight

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over it you like stuck something in your

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in your in your coat as you're leaving

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like yeah I'm taking all I'm taking the

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peach C I'm here's on on a serious note

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my last meal will involve peach cobbler

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really good peach cobbler and you know

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what I'm talking about not not the

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crumbles no the like the the bread the

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hard bread I mean that is unbelievable

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I'll leave you with this story it's a

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peach cobbler

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story went on some family trip when the

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kids were young and we're up in the

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mountains in North Carolina and they

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sent me out to say um hey uh Stan can

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you go get some dessert or something and

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I and I'm driving through the mountains

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and I stumble across this this barbecue

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restaurant and they were selling a pan

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full pans of cobbler so you're saying I

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know you Stan you do nothing in

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moderation how many did you buy I bought

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two full pants I bought a blueberry

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cobbler and a peach

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cobbler an army A full team of football

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players couldn't have eaten it all but

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we sure as heck tried but that's how

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much I love peach cobbler so you know

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got those recipes or see me out there

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you know in the Hinterlands buy me some

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peach cobbler but also want you to

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remember belt and suspenders andity

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strategies kind of you can have your

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cobbler and eat it too forget cake you

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can have your cobbler and eat it too

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with belt and suspenders annuity

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strategies my name is Stan the annuity

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man wasn't that a fun ride I'm America's

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annuity agent if you don't know and yes

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I am licensed in all 50 states shooting

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it straight with Stan see you next week