Do You Pay Taxes On Retirement Income?

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So, the question is, do you pay taxes on retirement income? Hi there. My name is

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Stan the Annuity Man, America's annuity agent, licensed in all 50 states and Puerto Rico. And

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you own an annuity for what it will do, not what it might do. I wear it on my sleeve,

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as I say, Dr. V behind the camera. But we're going to talk about all of this after this.

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So, do you pay taxes on retirement income? The big answer, the 30,000-foot answer, is yes. Except if

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you have a Roth IRA and you have a lifetime income stream coming from the Roth IRA and they

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don't change the rules. That's lifetime income because you've already paid this huge lump sum in

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taxes to convert part of your IRA or all of your IRA to a Roth IRA. Okay? So that would be tax-free

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type income. AAA municipal bonds— and I'm not securities licensed. I used to be securities

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licensed a long time ago— but that's tax-free income if you can find good municipal bonds

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out there. But are you going to pay taxes on your retirement income? The answer is yes. Now,

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you're going to have a bunch of charlatans, sociopath agents, advisors, idiots, morons,

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too-good-to-be-true tommies out there that say, "Well, I got it. I got the one that can give you

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the tax-free income. You don't have to pay taxes on your retirement income." They don't. But

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you might be stupid enough to fall for it. I hope not, which is why you're watching this video. So,

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if someone says to you, "Hey, I got this life insurance policy and it provides tax-free

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income." It does not. It provides a loan, and all loans are tax-free. I always love telling

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the story. A guy just got in an argument with me. I don't know why I wasted my time like that.

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But anyway, I said, "Okay." Because he's arguing with me, "Well, that's tax-free income, Stan. I'm

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going to tell you right now it's tax-free." I'm like, "It's a loan, player." So I was like, "Okay,

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if you go to the bank and you get a loan from the bank and you start taking money from that,

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is that a loan or is that tax-free income?" He's like, "That's a loan coming from the bank." I'm like,

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"Great. So if you take the same premise and you go to the life insurance company,

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you buy a life insurance policy, and you take a loan from that policy, is that a loan or is

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that tax-free income?" He's like, "That's tax-free income, Stan." I'm like, "It's like

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showing paintings to blind people." Holy crap. The point is, if it sounds too good to be true, it is

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every single time. A loan is a loan is a loan is a loan. It's not tax-free income. You're going to

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pay taxes on your retirement income. Quit having the IRS live in your head rent-free. Quit trying

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to be the standali of taxes. You're not. You're not going to beat them. They are thinking like

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you're thinking, which is, what are the loopholes that we can close? So, Fred or, you know, Eunice

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or whoever's watching out there, please stop. Just please stop. Okay? There's a couple ways to lower

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your taxes. And people say, "Well, you know, down the road, I'm not going to be working, so my tax

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rates are probably going to be lower, and I'm not going to pay as much taxes." I hope that's true.

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But with 39 trillion in debt, that might not be true. You cannot predict future taxes. You cannot

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plan for future taxes. You do not know what DC and the idiot politicians are going to do. Both

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parties. I'm not political, I'm contractual. What they will do, not what they might do— you do not

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know. You can't predict it. So why are you trying? Why are you obsessing? Now, full disclosure,

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I have a little bit of OCD, obsessive-compulsive disorder, but I hopefully channel it in the right

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direction in a business sense. But I'm not, like, closing the door three times every time.

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But I could, because that actually makes sense. But the point is, stop OCD-ing. Stop it about

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taxes. You're going to pay taxes. Taxes are going to go up. You know why? Because over 60% of senior

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citizens have less than $10,000 to their name. 55% of people in this country have no money. Their net

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worth is in their front pocket. So be careful who you flip off on the highway. Okay? All of those

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people get to vote, which is fine, great. But they're going to vote for your money and my money.

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They're going to vote to try to get to our money. It's going to happen. So, you're going

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to pay taxes on your retirement. You're probably going to pay more than you need to pay. But my new

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motivational speech to all the people out there is you're eventually going to be drooling in a drool

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cup and shit in your pants. And if your answer to that is "Depends," you're right. It will be

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Depends. That's what you'll be wearing. Okay? And you're saying, "Well, that's

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just brutal, Stan. I don't like the way you're talking." You know what? I don't care. I'm at

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the point in my life with advising people and our company's size. I'm out here to change things.

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I'm out here to wake you up to the realities of where we're at. We have 39 trillion in debt. The

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majority of the people have no money. The majority of people are living day-to-day. The majority of

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people can't afford anything. And the majority of people are going to outvote the people with money.

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Is that right or wrong? I don't know. But that's reality. I said a long time ago when I was with

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Dean Witter, a long time ago, I said eventually people without the money are going to vote

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against the people with the money. We're there. We're right here. Look at me right here. So,

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what's your plan? Is your plan to still try to lower your taxes? How do I lower my taxes? Or is

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your plan to live now while you're still feeling good and you can travel? What's your plan now? Put

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an income floor in place. You might not even need an annuity, but annuities provide lifetime income.

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You already own the best inflation annuity on the planet, Social Security. You're already probably

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taking RMDs from your IRA. That's an annuity-type payment. If you have a pension— one of the 9% out

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there that does— that's an annuity. What type of guarantees do you need in place to go live your

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life, for it to be about you in Chapter 2? I don't care if you like the tone. I don't

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care if you like the message. The message is real, and the message should be received and processed.

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Because I will guarantee you that somebody behind that camera, whether it's you or your spouse,

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agrees with me, and they're tired of you obsessing about taxes. You're going to pay more. We have to

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pay more. We're in debt as a country. Most of the people out there that watch me are just like me.

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They don't have a dollar of debt. Everything's paid for. I grew up in rural North Carolina,

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everything was paid for. My grandfather had rental houses. He worked in the mill. And when he got

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enough money, he built the house. He didn't borrow the money to build the house. He built the house

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with the money. And then when he got enough money, he built another house. And he rented

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them out. And he ran a store. And he had a farm. Remember those days when nobody took any loans

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out? And a lot of people out there are like that. You don't have any debt, or if you have debt, it's

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at such a low interest rate you're just holding on, and you could wipe it out if you want to,

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which leads us back to the tax question. Then why are you so obsessed about taxes? Why aren't you

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as obsessed about your life, your health, working out, nutrition, travel, your spouse, your family,

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your grandkids, your friends, your nonprofit, your hobbies, your side hustle? Chapter 2 is

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about you. If I can be a part of that, great. We can provide those contractual guarantees where

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you can go live your life. I have this thing I'm doing right now. If you're interested,

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you can get all these hats I wear. I've got a bunch of light blue ones. We got, like,

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4,000 light blue ones brought in because I told my staff, I said I want everybody that's going

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to go live their life in Chapter 2 to have a hat, whether they're a client or a prospect, and then

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I want them to send me a picture of them in that hat— Stan the Annuity Man hat— and where they're at.

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I got one the other day. A guy was in Bangkok with the Stan the Annuity Man hat. You're darn right he

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was. You're darn right he was. Is that you? Shoot me an email, [email protected]. I'll send you

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one. That's where we're at. Okay? It's not about taxes. It's about you. It's not about taxes. It's

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about Chapter 2. It's not about taxes at all because you're going to have to pay them.

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Alright? Do me a favor. Up above me, a spinning clock. I'll get off my soapbox a little bit. I

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did a video on lifetime income. You need to take a look at that because I explain how it's priced and

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why it's a bargain right now. You should really take a look at it and maybe build up your income

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floor a little bit more so you can go to Bangkok, for gosh sakes, wearing the Stan the Annuity Man

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light blue hat. Why wouldn't you do that? Hey, my name is Stan the Annuity Man. See you next time.