Consider Giving Your Money Away Now: 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

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Man, America's annuity agent, licensed

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in all 50 states. I know you're saying,

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"Stan, that's the wildest top you've

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ever worn." I'm going to getting ready

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to to throw you. You can't even see this

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watch. Camouflage. Camouflage. The guy

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behind the the camera, my man Zeke, is

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like, "Wow, that's that's an aggressive

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look." Um, it is, but you know, I'm a

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tad a tad bit contrarian, as you know.

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Today's topic is consider giving money

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away before you die. I've done a lot of

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um videos on how to lovingly handcuff

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your beneficiaries and you know create

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immediate annuity payments upon your

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death or you know I have some

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grandfathers that will I'm a grandfather

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that will do a joint life immediate

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annuity payout with their grandkids so

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that they get a lifetime income stream.

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I call that the legacy income monster.

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There's things that you can do um to

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give money away but I would cons I would

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I would ask you to consider it. Now, I

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grew up in the Carolinas, North

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Carolina, and very rural in North

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Carolina. My my whole family kind of

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worked in the um textile mills area

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before they were all shipped overseas,

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but you know, lived in mill towns, if

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you remember that in the Carolinas. Um

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so, you know, there wasn't a lot of uh

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money to be given away. Uh, but for

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those of you that are watching this

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video that are kind of like me that made

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it that worked hard for decades and

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scrimped and saved and put money away

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and then we have children and

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grandchildren, the question is what do

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you want to do with the money? Because I

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always tell people, I don't care how

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much money you have, you typically don't

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change your lifestyle. Um, and I know my

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wife and I, uh, my wife of 37 years, she

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grew up in rural Nebraska, um, and you

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know, just the same thing, working-class

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family. And now we find ourselves,

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fortunately after, you know, accumulated

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over decades, we can give money to our

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kids and grandkids

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um instead of them waiting for us to

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die. Um where I'm from in North

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Carolina, where I was going with that is

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it's just typical in the south that you

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wait for the grandparents to pass away

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or the parents to pass away and then the

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wheels read and then you get what you

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get. But by Yeah, normally um it's later

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in life, right? I mean, your parents

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might live a long, long time. My mom,

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who right now at the time of this

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taping, is 86 years old in St.

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Augustine, Florida, and and and

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literally walks six miles a day. She's

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in better shape than all of us. I mean,

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she really is. She just went on a

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vacation with my with my sister to Cuba.

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Who goes to Cuba? But, you know, she's

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she's vibrant. But, not that I need the

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money, and I don't.

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all of the all of the money that she's

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accumulated and my father passed, you

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know, six years ago. All of that money

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will be then distributed to my myself

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and my sister. Well, I don't need it. I

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needed it about 25 years ago. That would

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have been nice to have a little help at

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that point in time. Um, you know, when

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we when my wife and I were first

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starting out or when we had small kids,

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I [snorts] personally have started doing

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this. I personally have looked at our

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lifestyle, what we spend, what we have,

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and I I told my wife the other day, I

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said, "Just run." I've run the math. I

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showed it to her. I said, "There's no

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way we're going to spend all this. So,

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let's start giving it to our kids

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because our daughters are in their 20s,

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and you know, that's that time where you

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you know, you you got you're building a

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family and you're you're trying to buy a

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house and all that stuff." and we're

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we've made the decision that we're going

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to start helping them um as best we can

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instead of them waiting for me to die.

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Now, do I have things set up for when

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they die? Yes. You know, I have huge

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life insurance policy. I have all these

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things. I have income streams set up for

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my daughters, but I don't want them

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scrimping and saving and and struggling

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and going without now. And you you're

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probably out there going, "But that's

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what made you done. That's what made you

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that's the character there. That's what

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built your character." Maybe, but if I

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didn't have to go through that, it would

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have been nicer. And it's really hard as

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a father, especially with father with

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daughters, people that know this, it's

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hard not to just take care of them, man.

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It's it's hard not to step in and make

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sure their life is good. Um, that's kind

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of what I feel like I'm put on this

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planet to do in addition to telling the

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truth about annuities and and being the

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voice out here for this is to be a good

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husband, is to be a good father, and to

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be a good grandfather. And you know, I'm

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working my with my estate planning

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lawyer now, which I would encourage you

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to do as well. Don't make any of these

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decisions on your own or if Johnny

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Apples Seed agents trying to advise you

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don't do that, but start thinking about

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giving some of the money away. Whether

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it's the gifting rule, you know,

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whatever the gifting rule is at the time

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of this taping, I'm not going to give it

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now because it'll change. You can gift

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gift money away to um you and your wife

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both if you're still married to to

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anybody. But for certainly for family,

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if you don't want to give them the lump

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sum that you have, you might want to

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gift things on a on an annual basis and

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fun things for them. I know this is not

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kind of an anti-anuity, not anti-anuity,

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but not not a just pro-anuity thing, but

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I'm talking about life. I'm talking

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about where we all are. And for people

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that are like me in their 60s, you're

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thinking about this. What do you do?

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Should you should you do what your dad

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and mom did and just make, you know,

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make you wait until they pass? Maybe.

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Maybe that maybe that feels right to

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you. I'm not putting you down if if

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that's what you want to do. But what I

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want you to do is think about the

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possibility of setting a precedent

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within your family that you're helping

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now. You're helping now when they need

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it. I talked to my my son-in-law is um

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is a great kid. He's an exNHL player.

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I'm very proud of him. And you know, my

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daughter married a good man. and he was

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very um reticent about me helping, you

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know, with helping with things. And I I

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remember sitting down with him and I

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said, "Listen, I want you to do the same

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thing. I want you to do the same thing

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for your kids. The promise is if you can

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at that point in time, if you've

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accumulated at that point in time that

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you can help them out when they're first

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starting out, I want you to continue

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that. And I want to establish that as

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part of our legacy as our family is we

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don't wait until death to give

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everything away or for them to get it.

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We we help them as they're going along.

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Yes, you can set that up as well and I

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have. But I'm hoping that this video

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will spur some thinking and some

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discussion between you and your spouse

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that maybe you should do that or maybe

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you should do more of that and then

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frame it with your the people that are

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receiving those gifts that this is part

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of our new family structure and our new

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family legacy and our new family

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strategy is to take care of family um

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when they need it. when they need it,

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not when they've already accumulated and

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then you've died and they're in their

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50s or 60s. Just food for thought. And

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it's a shooting it straight with Stan

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topic that doesn't have me rant. It has

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me reflecting on just the blessings. You

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know, I have earned it. I started with

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nothing. Um, and I just don't want my

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kids to go through what I went through

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um struggling to get here. And there's

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arguments for and against that, but

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that's where I'm at. So, that is

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shooting shooting it straight with Stan.

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My name is Stan the Annuity Man. Hope

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you think about that. Shoot me an email

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or give me a call and tell the office

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you want to talk to me about that. I'd

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be more than happy to do that. My email

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is stantheanuityman.com.

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Um, and I'll see you next