How Annuity Guarantees Make You a Smarter Investor - The Annuity Man Live Event

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[music]

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The annuity man

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live event is starting soon. Bring your

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questions.

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[music]

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Will you buy an annuity

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for the will do not might do? Brutal

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honesty about annuities.

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The annuity man.

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[music]

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The annuity man.

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The man.

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Hi there. Stan the annuity man,

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America's annuity agent, licensed in all

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50 states. and you're thinking to

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yourself, "Wait a minute. I've been on

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these live events before and I don't I

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don't remember that intro music." Well,

1:01
what you don't know about the Annuity

1:02
Man, and you're getting ready to find

1:03
out is I'm a really marginal guitar

1:06
player, but I love it. So, that intro is

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a little heavy metal. I've got the uh

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for all you guitar people, it's a

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Jackson Downsized

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Flying V, Randy Rhodess, but uh I'll put

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that up. Let's I mean, I'll do I'll do

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that later. But I'm glad you joined me.

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This a good topic today on how annuity

1:26
guarantees make you a better investor.

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Let me put the guitar down. Um because

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they do and I know what I'm talking

1:32
about because I used to work for Dean

1:34
Witter, Payne Weber, Morgan Stanley,

1:36
UBS, Union Bank of Switzerland. So I was

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on that side of the ledger and of course

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those um entities really don't like

1:44
annuities because they can't charge

1:45
annual fees for them. And so I, you

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know, even when I was there, I just I

1:51
thought, you know, immediate annuities

1:52
for lifetime income as an income floor

1:54
made sense. I was a big fan of social

1:55
security as a pension. You know, my mom

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and dad both were high school teachers

2:00
in North Carolina, actually middle

2:01
school teachers, and they both got a

2:03
pension from the North Carolina state

2:05
system. So I was familiar with the

2:08
pension type plans. And then, you know,

2:10
when I decided to become the mythical

2:12
and real and dominant annuity man in the

2:14
space and number one agent in the

2:15
country, um, I'm still there. I'm still

2:18
all about the contractual guarantees,

2:21
but I also understand that you can't

2:22
have all your eggs in one basket with

2:24
annuities. You have to have in most

2:27
cases, 99% of you, um, you got to have

2:30
some growth. And but what you're going

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to what you're going to learn during

2:34
this um event is that annuities have

2:39
their place in proportion. And if you

2:42
have that in what I call the income

2:43
floor in place, you're going to be a

2:46
better investor because in up and down

2:48
markets, and I know right now at the

2:50
time of this taping, there is no such

2:52
thing as a down market, right? But I we

2:54
all know we've been around long enough

2:56
to know it's going to go in cycles. But

2:57
if you don't have to disrupt those

2:59
investments and you have that income

3:01
floor in place, you're going to be a

3:02
better investor.

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Okay? I mean, I've got professional

3:07
investors that are clients of mine and

3:09
they understand that and they put in the

3:11
income floor. A lot of them say, "Well,

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I'm just doing this for my wife." I

3:14
don't care who you're doing it for.

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Having an income floor in place makes

3:18
you a better investor. You can take a

3:20
little bit more risk because you know

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that income floor is in place and it and

3:24
it makes sense. Now, um I know a lot of

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you are saying, "Stan, I've never seen

3:28
you in the like the the glasses. You

3:31
look so intelligent." I know what you're

3:33
saying to yourself. Um a lot of the

3:36
reason I'm wearing my glasses today, I'm

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in the Las Vegas headquarters. Our new

3:40
office is in Las Vegas. We moved to a

3:42
huge building. Um but it's dry out here,

3:45
man. I live most of the time in Florida

3:47
and so it's humid. I can wear my my

3:49
contacts. I tried to put them in today

3:51
and it was like it was like sandpaper.

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I'm telling you. Couple things before we

3:56
get started.

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Everybody loves the hats and I'm I'm I'm

4:00
giving these hats away.

4:03
So, if you're a client,

4:05
you know, you should you should have

4:07
already gotten one. If you haven't,

4:08
we'll send you one, but we um we've been

4:10
sending these out. They're pretty cool.

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You know, they call them dad hats. I

4:13
don't know why, but um the light blue

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ones. Please don't ask for the red, but

4:17
that might be next year, but the light

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blue ones. And even if you're not a

4:21
client, just send me an email

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stantheanuityman.com

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and tell me something nice or not and

4:28
I'll send you one. But we're having a

4:30
lot of fun with those. We have blown

4:31
through a lot. I know Zeke's behind the

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camera. Zeke the Hawaiian Freak. We love

4:34
Zeke. Long beard, board shorts, you

4:37
know, Hobie t-shirt, sand on his feet

4:39
somehow in Las Vegas, but he's running

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the show behind the camera. Want to say

4:43
thanks to him. Um, but yeah, you can get

4:46
the you can email me Stan the annuity

4:48
man to get the hats. I would encourage

4:49
you to also go to my site Stan at the

4:51
annuity man run quotes download my books

4:53
etc. But let's jump in. A lot of the

4:55
times when you are talking to advisors,

4:59
registered investment advisors, masters

5:01
of the universe, what I call

5:03
professional dart throwers, which that's

5:06
really what they are. Nobody knows where

5:07
things are going. You can take a

5:09
calculated guess. Um, a lot of this the

5:11
pitch will be, you know, don't buy that

5:13
annuity from the annuity man. I mean,

5:15
don't buy those contractual guarantees

5:16
from him because I can do so much

5:18
better. I can get market returns for you

5:20
and I what we can do is I can manage the

5:23
money and I can just take the the gains

5:26
off the top and that'll be your income

5:29
and you don't have to lock anything in

5:31
for lifetime income. Sounds really good

5:35
in a bull market. And it works like a

5:37
charm in a bull market. But you know

5:39
when it doesn't work like a charm? When

5:41
markets go down. I know you're saying,

5:43
"Stan, wait a minute. I've never seen a

5:45
market go down." And there's a lot of

5:47
advisers out there that's never seen a

5:48
market go down. Trust me, it'll cycle.

5:51
It'll go down again. I, you know, maybe

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AI is artificial intelligence and the

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annuity industry. That means actual

5:58
individuals. But, and maybe AI is a

6:01
different thing and it just will run the

6:02
numbers forever. But I'm just more of a

6:05
pragmatic

6:07
pessimist, realist, and I don't think

6:09
that's going to happen. But what I just

6:11
described to you, what's called the 4%

6:13
rule. Hey, let me manage the money. I'm

6:16
the master of the universe. I'm just

6:17
going to take the gains off the top and

6:19
that, you know, send you 4% of the

6:21
gains. But my my question, my my dumb

6:24
southern question is this. Hey man, what

6:27
happens when the market goes down by

6:29
20%. That means you send me four, I'm

6:31
down 24. Boy, we got to do good the next

6:33
year. Yeah, it doesn't work. And it's

6:36
been debunked by everybody. All right.

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So, um, what I tell my clients to do is

6:44
to build that income floor. You already

6:46
have an annuity, social security, best

6:48
inflation annuity on the planet. You

6:50
might have other things that that's

6:52
hitting your bank account that is not

6:54
market related. You know, maybe you have

6:57
rental houses, maybe you have dividend

6:58
stocks like legacy dividend stocks, you

7:00
know, your grand papy bought Exxon or

7:02
something like that. whatever's hitting

7:04
the bank account. If you need a gap or

7:06
an additional amount, then you fill in

7:08
that gap using the least amount of money

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to solve for that that contractually

7:13
quoting all carriers through us A+ or

7:16
better for lifetime income. And you fill

7:18
in that gap for lifetime income. So,

7:20
let's just say social security, you

7:22
might have a pension, um you got

7:24
dividend stocks, you got some rental

7:26
houses, whatever, and that's coming in

7:28
and that's bringing in say $5,000,

7:30
$6,000 a month. Let's say $6,000 a

7:32
month. and you say, "You know what? We

7:34
kind of need $7,500 a month." What we

7:37
would do is reverse engineer a quote for

7:40
an immediate annuity solving for that

7:42
1,500

7:44
using the least amount of money quoting

7:45
all carriers. It's it's that simple. And

7:48
annuities are commodities. There's not

7:50
one better than the other. Um I know

7:52
that some of my uh some people out there

7:54
that try to do what I do, um they show

7:57
brochures and all that. Who cares? It's

7:59
not about that. It's about the

8:01
contractual guarantee and it's about the

8:02
rating. It's about quoting all carriers

8:04
because annuities are commodities. Now,

8:07
um, go ahead and put your questions in.

8:09
I'm going to get to those in a second.

8:10
You can ask anything. You can ask my

8:12
free throw percentage in college. You

8:14
can ask how many guitars I own. You can

8:16
ask, "What else can they ask, Zeke?" I

8:18
mean, anything, but you also can ask

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annuity questions, and I will answer

8:23
every single one of them. But I think

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this is somewhat of a no-brainer. when

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you saw the the title, you're like,

8:29
"Yeah, I can see where annuity

8:30
guarantees can help." Um, but it doesn't

8:33
always have to be income. You could say,

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"I just want to protect the principal

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and get an interest rate." That's a

8:38
multi-year guarantee annuity. That's a

8:39
MA, the annuity industry version of a

8:42
CD. It is not an indexed annuity because

8:44
index annuity returns are not

8:47
guaranteed. It's all hypothetical and

8:49
theoretical. We only use those for

8:51
income guarantees attached to the index

8:53
annuity. But the accumulation story is

8:56
is just not good right now. And if you

8:58
bought it and you own one, you know that

9:00
for a fact. So, um you know, you can do

9:03
what I'm what I tell people sometime is

9:04
if you don't depending on your

9:06
situation, I'm going to have a con

9:08
conversation with you confidentially and

9:10
if you say, "Stan, we got x amount of

9:12
money and we can just live off the

9:13
interest. We can just take the interest

9:15
off the top of that MIGA." Then that's

9:17
what we do. Okay? Now, remember, Migas

9:20
can be used in IRA, Roth IRA, and

9:22
nonIRRA. But in the nonirra set setting,

9:25
a migga that interest grows and

9:27
compounds tax deferred. So only when you

9:30
pull money out is it is it taxable.

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People say, "Wait a minute. Aren't you

9:35
setting up a tax bond for your heirs?"

9:37
Yeah, my two daughters my two daughters

9:39
are getting ready to be 30 and 28. I

9:41
know what you're saying. You're saying,

9:42
"Hey, man, you look really young.

9:44
There's no way." Yeah, there is a way.

9:46
Um, [laughter]

9:47
but what I've done with the with the

9:49
majority of my money because the best

9:50
growth stock in the country is the

9:53
annuity man. I own it all. Okay? So, you

9:56
can't buy the annuity man stock. But if

9:58
there was a stock, you'd buy it because

9:59
it's the best growth stock on the

10:00
planet. So, what do I do with my money?

10:02
Migas. I do fixed rates guaranteed tax

10:07
deferred.

10:08
There you go. Because I'm an

10:10
entrepreneur. Most entrepreneurs, if

10:11
you've been one, you don't you didn't do

10:13
a lot of IRA stuff. you're putting money

10:15
in the in the company, etc. That's kind

10:17
of me. So, I'm doing just if I need the

10:20
money, I peel interest off the top. If

10:21
not, I let it grow and compound tax

10:24
deferred. That guarantee, if I decided

10:27
to go into the market, would make me a

10:29
better investor. Those guarantees make

10:32
me a better investor in my own company

10:34
as an entrepreneur. I put that risk

10:36
capital into my company knowing that

10:39
those guarantees are there for me and

10:41
the lovely Christine. There will come a

10:43
point in time where I'm not hitting on

10:45
all cylinders. I know what you're

10:46
saying. There's no way, Stan. There's

10:47
just no way I can envision that. I get

10:49
that. But there will come a point in

10:51
time where those multi-year guarantee

10:54
annuities, a lot of them will be

10:55
converted into an immediate annuity for

10:57
lifetime income. Okay? So, just this is

11:01
very basic. Annuity guarantees make you

11:04
a better investor. The question is, are

11:07
the guarantees going to be for income or

11:09
are the guarantees going to be for

11:10
principal protection or is it going to

11:12
be a combination of the two? You can go

11:14
to my site at theanuityman.com,

11:16
run those quotes, see live ma fees,

11:18
download the books, and schedule a call.

11:20
Most likely you're going to get me if

11:22
you don't demand me. And you can also

11:24
email me stantheanuityman.com.

11:27
Also, use that address right now because

11:29
out of the picture, my little laptop's

11:31
right here. And if you email me a

11:33
question, I'm going to answer that

11:35
question. Okay? So,

11:37
stantheanuityman.com.

11:41
Couple things about our company, my

11:43
company. I'm my wife is a co-owner, so

11:47
she's the boss, but a little bit about

11:49
us. We're based in Las Vegas, Nevada.

11:52
Um, tons of people in my office. Not

11:54
going to give that away from competitive

11:55
standpoint, but every single person in

11:57
my office licensed in all 50 states, but

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they're not on commission. Their job and

12:03
their bonus and their compensation is

12:04
based upon your satisfaction. So, if you

12:07
decided to use us and purchase some

12:09
annuity type, um, you know, we're going

12:12
to take care of you from start to

12:13
finish. I have the best staff in the

12:15
business. Not even close. Um, I'll state

12:18
my reputation on that one. They are

12:21
great and and they've been trained

12:24
through the annuity man. We hire here.

12:26
We don't hire anyone who's been licensed

12:28
before. They have to get licensed here.

12:30
They have to get trained here. I don't

12:32
want any bias coming in. That's how it

12:34
works. And everything is in Las Vegas in

12:38
this in under this this roof. We're open

12:40
12 hours a day, 8:30 in the morning to

12:43
8:30 at night Eastern, 5:30 in the

12:45
morning to 5:30 at night uh Pacific

12:47
time. And we're open eight hours a day

12:49
on Sun, eight hours on Sunday. So 68

12:51
hours a week. Why? Not because we're

12:54
crazy. We want to work around your

12:56
schedule. So you can schedule calls. You

12:58
can run quotes 24/7, 365. So that's kind

13:02
of a little bit about the annuity man.

13:03
We keep getting bigger and bigger and

13:05
bigger. We're the gorilla in the room

13:07
and the direct to consumer market. I'm

13:08
the gorilla in the room in the annuity

13:11
video space. There's a lot of people

13:13
trying to do what I do, but they can't

13:15
because they can't help themselves. They

13:16
got to talk about products. I'm talking

13:18
about strategies and talking about

13:20
contractual guarantees. You own an

13:22
annuity for what it will do, not what it

13:24
might do. I only ask two questions. What

13:27
do you want the money to contractually

13:28
do? When do you want those contractual

13:30
guarantees to start? Once again, what do

13:33
you want the money to contractually do?

13:34
When do you want those contractual

13:36
guarantees to start? And I've come up

13:38
with an acronym called PIL that explains

13:40
for what annuities should solve for. P

13:43
stands for principal protection. I

13:45
stands for income for life. L stands for

13:47
legacy. The other L stands for long-term

13:50
care. Pill, principal protection, income

13:52
for life, legacy, and long-term care. So

13:56
between the pill and the two questions,

13:58
we can determine a if you need an

14:00
annuity or not, and we will tell you if

14:02
you don't, and B, which annuity is going

14:05
to provide, which annuity type's going

14:07
to provide the highest contractual

14:08
guarantee. So with that foundation, what

14:10
I'm going to do is I'm going to open up

14:11
for questions. Um, we're going to pop

14:14
the question on the screen. I'm going to

14:15
read it because there's a lot of people

14:17
that that listen to the replay of this

14:19
in their car and their Ferrari driving

14:21
on the road. So, here we go. Uh, let's

14:25
see what we got. Um, let's just do let's

14:28
do this the what an intro song. Okay, so

14:31
let's do that.

14:33
It is, you know, and I it's funny if if

14:35
you missed the intro song, I'm sorry.

14:37
Uh, because it's going to be there

14:38
forever. And now we're working on an

14:40
outro song, too. But um a little heavy

14:42
metal, you know, I'm into the heavy

14:44
metal thing. You know, play a little

14:46
heavy metal guitar. I like you got the

14:48
Marshall stack uh at home that the wife

14:51
hates. Marshall Marshall being the

14:53
amplifier. But yeah, we, you know, I'm

14:56
going to give Zeke some props here. Zeke

14:57
behind the Zeke the Hawaiian Freak, the

14:59
crying Hawaiian as I call him. He put

15:01
that together um using his skills and uh

15:05
he showed it to me this morning and I

15:07
was like, "Oh, we gota we got to replace

15:08
it. We ought to do that." So, it's kind

15:11
of cool. And I think we got a a new

15:12
website coming out pretty soon. And I

15:15
said, "We've got to have a place on the

15:16
site where you can play that." So, um I

15:19
don't know. I don't think we have an

15:21
outro outro for that, but we're working

15:22
on it. So, let's go. Um here we go. Um

15:26
let's let's see. This one's asking about

15:29
All right. Here we go. Let's let's go.

15:30
Yep. I called like, "Okay, first of all,

15:33
I don't talk about companies. We

15:35
represent every single company on the

15:36
planet. I have no skin in the game with

15:38
any of them. I don't go on any incentive

15:40
trips. I don't talk to any wholesalers.

15:43
I don't allow them in our building."

15:46
Okay. So, with that said, um this is a a

15:49
great example. Um, every sing too many

15:53
times, not to say every single too many

15:55
times when someone's asking about a

15:57
product, the person on the receiving end

16:00
is automatically going to try to sell

16:02
them the highest commission product. We

16:03
have nothing against index annuities. We

16:05
sell more than anyone, but we use them

16:07
as a delivery system for the income

16:09
writer. So, we ignore the index annuity

16:11
and we only look at the contractual

16:13
guarantees of the income writer. So, um,

16:15
this person, you know, I' I've told

16:17
people before, you know, if you if you

16:19
walk into an advisor, agent, and you

16:22
say, "Hey, I've got a sprained ankle and

16:25
a sore throat and I really don't feel

16:27
good." They'll be like, "You know what?

16:29
You need an index annuity with an

16:31
upfront bonus." Um, crazy crazy

16:35
conversation the other day because I'm

16:36
I'm tired. I've been I've been calling

16:38
upfront bonuses candy for the stupid for

16:40
a long long time. And if you bought an

16:42
annuity for an upfront bonus, then

16:43
you're dumb and you get what you

16:45
deserve. Uh or you just had a brain fart

16:47
and you just weren't thinking at the

16:49
time. But I told the guy, the guy said,

16:50
"Well, this guy's offering a 50% upfront

16:52
bonus or 47% upfront, whatever it was. I

16:55
don't forget." And I said, "How many

16:57
pennies are there in the dollar?" And he

16:59
goes, "Um,

17:01
100." I went, "Yeah, there's not 147 or

17:05
120." There's not a philanthropist at an

17:07
annuity company that wakes up in the

17:08
morning and says, "You know what? I'm

17:09
going to give money away." No. If a

17:12
upfront bonus is in place, there's

17:14
something being taken away within the

17:16
policy. Hello.

17:18
Okay. Now, when we quote income writers,

17:21
if there's a bonus, great. It's just

17:22
part of the overall contractual

17:24
guarantee. But to put any weight on an

17:27
upfront bonus is like going to a a car

17:29
dealership and buying the car for the

17:31
stereo system. It's absolutely

17:34
stupid. Okay. Okay. So, with this case,

17:36
you know, the guy's looking for a MIGA,

17:38
which is a the annuity industry version

17:40
of a CD, guaranteed interest rate for

17:42
time, a specific period of time that you

17:44
choose. Sound good? Yeah. Because it's

17:46
like a CD in a non-qualified nonirra um

17:50
checking account type money asset. It

17:52
grows and compounds tax deferred. Yet,

17:54
some jack wagon is trying to jam an

17:57
index annuity down their throat. Why?

17:59
Because that's the highest commission

18:00
product out there. If I was annuities

18:02
are for a day and hopefully for the rest

18:04
of everyone's life, all annuity

18:06
commissions will be would be the same.

18:08
They're all built in. You don't see

18:10
them, but they would be the same. There

18:11
would be no incentive for Johnny Apple

18:14
Seed agent to to answer a MA question

18:17
with index annuity. You're talking about

18:19
square peg into a round hole. That's the

18:21
the quintessential example of of the

18:25
agents a hammer just looking for nails.

18:28
They're not listening. They're not

18:30
listening. And for all you out there

18:32
that want to believe, I was on the phone

18:33
with a guy the other day. He he was

18:36
arguing with me about the index annuity

18:38
story. Hey, dude. I said, "Dude, I I was

18:41
there. I've been around since 1995 when

18:44
it was introduced. It was introduced for

18:46
CD returns. Guess what? Guess what?"

18:49
Uhhuh. Yeah. It got it get CD returns.

18:53
All right, here we go. Let's go to Tom.

18:55
Let's see what this one says.

18:58
We've already won the game. to quote a

19:00
famous annuity guru. Now, let me stop

19:02
there. Who he's referring to is me. I

19:04
know what you're saying. Um,

19:07
I tell people, if you won the game, why

19:09
are you still playing? Okay, that's my

19:11
saying. If you won the game, why are you

19:13
still playing? Envision yourself in the

19:15
arena, you know, in in the basketball

19:17
arena. I play college basketball. You

19:19
know, you got the cheerleaders, you got

19:21
the band, the fans, and you got the

19:22
scoreboard, and you're out there

19:24
dribbling and shaking and baking and do

19:27
that stuff, and everyone's laughed.

19:28
Cheerleaders are left, band has left,

19:30
they shut the scoreboard, and you're

19:32
still you're still playing. Hey, if you

19:34
won the game, don't play. Go have fun.

19:36
Go live your life. Why then do we need

19:38
to keep playing via risk of growth? You

19:40
don't. You mean the question is, if we

19:43
you've won the game, why do you need to

19:45
do risk? Obviously, that's up to you.

19:48
And risk is determined by you. Some

19:50
people think of risk as Bitcoin, crypto,

19:54
meme coins, and all that. Some people

19:55
think risk is the S&P 500. Some people

19:58
think risk is individual stocks. Some

20:00
people think risk is high yield bonds.

20:02
Whatever you consider risk managed

20:05
futures, whatever it is,

20:07
if you've won the game, you don't have

20:09
to play anymore. I had a guy call me the

20:10
other day and and he's, you know, what

20:13
what should I do and this and that. I

20:14
said, well, tell me the amount of money.

20:15
And he had a lot. He had multiple seven

20:18
figures pushing eight figures. And I'm

20:21
like, dude, why are you still chasing

20:24
it? Well, you know, you never know about

20:26
inflation. I'm like, you got $9 million

20:30
and there's no inflation. Well, it could

20:32
be. I mean, gas and eggs. I'm like, you

20:34
can buy the grocery store. There's a lot

20:37
of you out there that get caught up in

20:39
the media and what you're hearing.

20:42
They're not talking about you. They're

20:44
talking about the median household

20:46
income at $55,000 with two with two

20:49
incomes and kids running around and

20:51
they're trying to buy bacon. That ain't

20:53
you. Most of you out there, I hope, are

20:56
kind of in chapter two of your life or

20:58
going toward there. You've won the game.

21:00
You've threaded the needle. You've

21:02
worked hard. You've done without.

21:05
You're going to be fine. I It drives me

21:08
crazy when really rich people call me

21:10
and start talking about inflation. I'm

21:11
like, you're the most arrogant person I

21:14
know. It'd be like me talking about

21:15
inflation. I've busted my rear end for

21:18
three decades. I'm doing fine, but the

21:21
lovely Christine's doing fine. We'll buy

21:23
the eggs, okay? We'll buy the gas. We'll

21:26
be fine. Okay, we're fortunate.

21:29
So, but you know, people say, "Well, how

21:31
do you solve for inflation with

21:32
annuities?" I sent a newsletter out the

21:34
other day. Immediate annuities, the only

21:36
way to do it. And it's not that you put

21:38
a cost of living adjustment writer on

21:40
it. What you do is you solve for the

21:42
inflation number, reverse engineering

21:44
the quote. This is simple. And if

21:47
anybody out there says, "Well, this

21:48
index annuity adjusts for inflation."

21:50
They are full of crap.

21:52
They are full of crap and I'm tired of

21:55
those sales pitches and I'm going to go

21:57
one by one and squash those things.

22:00
Okay, so yes, if you won the game, you

22:02
got to say why why are you still playing

22:04
now? Can you put all of your money into

22:07
annuities? The only person that can is

22:10
me because I can't sue myself,

22:13
right? Um, and I do have the vast

22:16
majority of my money in migas because I

22:18
don't want to pay any more in taxes.

22:19
It's non-qualified money. I am a growth

22:21
I'm a walking growth stock. I'm also the

22:23
walking middle finger of annuity truth,

22:25
but I'm a walking growth stock. Okay.

22:28
Um, so

22:31
the annuity industry suggests

22:35
National Association of Insurance

22:36
Commissioners that 50% of your

22:39
investable assets, that's not your car,

22:41
that's not your guitar, that's not your

22:43
house, that's not land. investable

22:45
assets 50% into annuities of all types

22:49
total.

22:51
Okay. Now, can we push it to 60? Yeah. I

22:54
heard somebody called me, somebody

22:55
called me the other day said, "Well,

22:56
this guy down the road, he's an a he's a

22:59
agent, too, and he said he can get me to

23:01
75 or 80." I said, "The only way is to

23:04
doctor and fictitiously fill out the

23:06
application, which, oh, by the way, is a

23:09
felony." Um, I mean, be careful out

23:12
there. And I get I get calls all the

23:13
time from people that well you know I

23:15
got 92% in annuities. I'm like what jack

23:18
wagon sold you that? I said you might

23:20
want to look at your your application

23:22
see how they doctorred that okay because

23:26
it's it's not right to put all of your

23:28
money into any one basket especially

23:30
annuities. I always tell people this and

23:33
we sell more annuities than anybody on

23:34
the planet licensed in all 50 states.

23:37
Puerto Rico everybody use the least

23:40
amount of money to solve for the goal.

23:42
use the least amount of money to solve

23:45
for the contractual goal.

23:48
It's that simple.

23:50
Here we go.

23:52
Let's just do how do you encounter

23:53
inflation, Stan? Let's talk about

23:55
inflation. [laughter]

23:58
[sighs]

23:59
Okay, here's how inflation works. All

24:02
right.

24:04
There's not an annuity on the planet

24:08
that adjusts for inflation except for

24:11
social security because that is a

24:12
political football, not an actuarial

24:15
football. And by the way, for your

24:18
records, I'm contractual. I'm not

24:20
Republican.

24:22
Was that right? Yeah. Not Republican.

24:24
I'm not Democrat. I'm contractual.

24:28
That's all we're looking at. Contractual

24:29
guarantees. But when we're talking about

24:31
inflation, again, it's personal for

24:33
everyone. So, that person that put that

24:36
that that on the on the screen, Zeke,

24:38
where'd that go? Oh, there it is. Um, I

24:41
would have to have a conversation with

24:42
you. Okay. Tell me what your income

24:44
floor is right now. Tell me what gap you

24:46
need to fill or you're trying to fill.

24:49
And then we would reverse engineer an

24:51
immediate annuity quote solving for that

24:54
number contractually. And we would set

24:56
it up however you want to set it up.

24:58
We'd put a backs stop on it so that no

25:00
the annuity company would never keep a

25:01
penny, you know. And and here's the

25:04
thing about inflation. You say, "Well,

25:05
Dan, this this guy talking about a cola,

25:08
not CocaCola, but COLA, cost of living

25:10
adjustment." If you attach a cost of

25:12
living adjustment to an immediate

25:14
annuity, let's I had a guy the other day

25:16
say, "Stan, I don't care what you say."

25:18
Which is crazy, by the way. I don't care

25:20
what you say. I want to attach a 3%

25:23
increase to my immediate annuity. I

25:24
said, "That's fine." I said, "But I need

25:26
to show it to you." And visually, here's

25:28
how it looks. Without the cola, with the

25:31
cola, typically a seven to 10 year break

25:33
even point. Hello. Hello. Hello, McFly.

25:39
Annuity companies don't give anything

25:40
away. If you think annuity companies

25:43
give something away, boy, they've got

25:45
you. You're the sucker at the table.

25:46
They say, as they say in Las Vegas, they

25:48
don't. They They have the big buildings

25:50
for a reason because they know when

25:52
we're going to die. What you're doing is

25:53
you're transferring the risk to the life

25:56
insurance company that issues the

25:57
annuity to solve for those four things.

25:59
Pill, principal protection, income for

26:02
life, legacy, and long-term care. So,

26:04
when it comes to inflation, there's not

26:06
a product you can buy now that adjusts

26:08
later for inflation. There's not a

26:11
product you can buy now that floats

26:13
magically and adjust for inflation.

26:15
That's the index annuity sales pitch.

26:17
That's the Rio pitch. That's garbage in

26:20
French. Okay? You wait till you need to

26:23
fill a gap for lifetime income, that

26:25
income floor, and then you reverse

26:26
engineer a quote to solve for your

26:30
specific inflation needs. But I need to

26:33
check I need you to check yourself, as

26:34
they say in the rap song, check yourself

26:36
before you wreck yourself. Cuz if you're

26:40
complaining about egg prices and you've

26:42
got multiple millions of dollars, please

26:45
stop. I I mean, really, be rational.

26:51
I had a good I had a I had a good

26:53
conversation with a guy the other day.

26:55
He's not a client, but he's a really

26:56
smart guy. Hope he becomes a client. His

26:57
name is Jamie and uh entrepreneur. And

27:00
he had the best comment. He said, "You

27:02
know, um my wife and I need to learn how

27:04
to spend money. We've gone all these

27:06
years building the company, scrimping

27:08
and saving and and not going out to the

27:10
nice restaurant, not buying the nice

27:11
car, not buying the the clothes that we

27:14
wanted, and and now we're here." And I'm

27:16
like, "Yeah, you you need to learn how

27:17
to spend." And I'm talking to myself as

27:19
well. I mean, I walk around around the

27:21
world in in in Adidas sweatuits and

27:24
baseball caps and and tennis shoes. You

27:26
know, I need to learn how to spend. I

27:28
need to learn how to travel. And my I

27:30
you know, my wife's the same way. Grew

27:31
up in rural Nebraska. I grew up in rural

27:33
North Carolina. You know, we didn't have

27:36
money. We didn't know we didn't have

27:37
money, but we didn't have money. Um

27:39
we've got to learn how to spend. And

27:41
maybe that's you, too. You know, the

27:43
common theme is or uh a statement is, "I

27:46
want my last check to bounce, son.

27:48
That's what I want." That's cool. That's

27:50
cool. But I'd rather you just spend now.

27:53
You know, I always tell people there's

27:54
three phases of retirement. Go- go,

27:56
slowgo, and no go. If you're in go- go,

27:59
you got to take advantage of that

28:00
because eventually we're all going to be

28:01
drooling into a drool cup and crapping

28:04
our pants. Right, Zeke? Zeke's nodding.

28:07
He's He's trying to envision that for

28:08
himself. And if he calls me, I'm not

28:10
going to pick up the call, if you know

28:11
what I mean. The point is, we're all

28:13
going to get there. If we live long

28:14
enough, we're going to get there. My

28:16
dad,

28:17
you know, he he was the great Santini

28:19
Pat Conroy movie and book. Look it up if

28:22
you read it. That's my dad. I guess I'm

28:24
going to be known as the great Stantini,

28:26
Zeke, you know, down the road. My

28:27
daughters probably think I'm that

28:28
person, too, because I'm I'm pretty I'm

28:30
pretty tough. I'm pretty demanding. But

28:33
my dad was the great Santini

28:36
hard ass ex basketball coach who had to

28:39
retire because of health and then go

28:41
into the school system. I can't imagine

28:43
being in his math class in junior high.

28:45
I'd have killed myself. But the point is

28:48
at the end of the day when he's 82

28:50
drooling on himself, could barely eat

28:52
and wearing a diaper. We have to learn

28:55
how to spend money now. We have to put

28:57
the income floor in place. And if you're

28:59
going to invest, you're going to be a

29:00
better better investor with that. My

29:02
question to you is what are you gonna do

29:04
with all the money?

29:09
I mean, fly first class. I had a guy

29:11
call me the other day, Stan. We finally,

29:12
the wife and I finally flew first class.

29:14
He goes, man, that was nice. I said, do

29:16
you think? I said, because your kids are

29:18
going to fly first class. You know, I

29:20
fly first class. Your kids will. There's

29:22
no U-Hauls behind herses. Income floors

29:25
are put into place for lifestyle.

29:28
I need you to get more out of the legacy

29:30
thought. your your family's going to be

29:32
fine. My daughters are going to be fine.

29:34
My grandson is going to be fine. Okay,

29:37
we need to we need to live now. We need

29:40
to enjoy it now. If you haven't looked,

29:42
check the date. Little chaos out there.

29:45
Okay. Um someone said, "Well, what

29:48
happens if we have another Black Swan

29:50
event?" I'm like, depending on the Black

29:52
Swan event, it might be Crosby Still's

29:54
Nash and Young song, Love the One You're

29:56
With Who knows? Okay, spend the money.

30:00
Set the set set the income floor in

30:02
place. Don't keep trying to look at

30:05
arbitrage or sweet spot moments. There

30:07
are none with annuitities. The older you

30:10
are, the higher the payment for lifetime

30:11
income. Well, Stan, should I turn it on

30:13
like social security at 67 or 70? You

30:16
know, which one should do? Well, the

30:18
older you are, the higher the payment.

30:19
And you've got to factor in the payments

30:21
that you miss. If you don't turn it on

30:22
in your way and you try to be, you know,

30:24
Mr. or Mrs. Um, thread the needle.

30:29
There's no threading the needle.

30:32
Another question. I kind of want Oh,

30:35
what's Oh god, this is good. This is

30:37
funky, right? What's your opinion about

30:40
the thousand child accounts?

30:44
Anything [sighs] that

30:47
helps our society go into a savings mode

30:50
long term is good. Um, I haven't looked

30:54
into those, you know, in detail,

30:58
but I think there's some matching to

30:59
them as well. Just remember this. Over

31:02
60% of the public of the public, okay?

31:07
And we're not talking about kids. We're

31:08
talking about grown-ups. 60% have less

31:11
than $10,000 to their name.

31:16
Less than 50% have bank accounts. When

31:18
the whole COVID thing hit, there's so

31:20
much fraud there. God, the fraud. Wow.

31:23
But when the co thing hit, problem the

31:26
government has was they couldn't get the

31:29
money to the poorest of the of the

31:31
society that needed it because there was

31:33
nowhere to send the money.

31:37
I don't know if you know this, this is

31:38
kind of off topic, but it was it

31:39
coincides and dovetales with this.

31:42
Most people in the lower end of the

31:44
spectrum do their banking at these big

31:47
gas stations. They go and get like the

31:49
if you're from the South Bies or

31:51
whatever it's called, they go in there

31:53
and they get money orders. They don't

31:55
have bank accounts. I know you're

31:57
saying, "Wait a minute, what?" Yeah, it

32:00
it's it's insane. So, if you think of

32:03
the 50, you know, I always say 50% or

32:06
more, you know, of people in the country

32:08
have their net worth in their front

32:10
right pocket. So, if you flip them off

32:12
when you're driving, you might get beat

32:14
to death because I got nothing to lose.

32:16
You got 60% of the public that has less

32:20
than $10,000

32:22
to their name.

32:24
There's a reason people vote like they

32:26
vote. There's a reason people do what

32:27
they do. There's a reason people that

32:29
are angry. There's a reason people

32:30
there's that are polarizing. There's a

32:32
reason that the socialistic type message

32:34
is is catching on.

32:37
I mean, if you were starving, you didn't

32:39
see any any hope in the future, you'd

32:41
probably vote that way. I'm not saying

32:42
anything's wrong or good or bad with it.

32:44
I'm gonna survive it either way. And you

32:46
are too.

32:48
And if you put contractual guarantees in

32:50
place, you don't have to worry about it.

32:51
I always tell people if you put enough

32:52
contractual guarantees in place, turn

32:54
off cable television. Who cares? I mean,

32:58
really. Next question. What are we

33:00
doing? Let's do that.

33:03
When is usually better to get into an

33:05
annuity? Under lower, higher. Now, this

33:07
is a great question because it's

33:08
irrelevant. No offense to you, ma'am, or

33:11
P A L. When you're buying lifetime

33:14
income, listen to me now. Listen to me.

33:18
When you're buying lifetime income, the

33:21
primary pricing mechanism is your life

33:24
expectancy. If you set it up joint, life

33:26
expecties.

33:29
Okay? Are we clear about that?

33:33
It's not the Fed. It's not the 10ear

33:35
Treasury. And even with Migas,

33:37
multi-year guarantee annuities, which is

33:39
the annuity industry version of a CD.

33:41
When banks issue CDs are star staring

33:44
straight at the Fed, straight at them in

33:46
the 10-year when MAS are issued, it's

33:49
life insurance companies that are

33:50
issuing. They're pulling from many

33:51
profit centers. Life insurance is a

33:53
profit center product. Lifetime income

33:55
is a profit center product. You know,

33:58
they have legacy bond portfolios that's

34:00
been there forever. It's a profit.

34:01
That's a a center of profit. So interest

34:04
rates play like a 20 to 25% role. There

34:07
are many times where the Fed lowers

34:09
rates and MIGA rates go up. It's not

34:13
linear. Okay? So you can't time it. My

34:17
answer to that, you can't time it. No

34:20
one can time it. There's nothing to

34:22
time. Well, Stan, should I take the do

34:26
the immediate annuity at age 65 or

34:28
should I wait to 68? Well, if you wait

34:30
till 68, it's going to be higher. How do

34:31
you know that, Stan? because you're

34:33
older.

34:37
It's that simple. You, you, or anybody,

34:41
including me, mwah, the annuity man,

34:44
cannot analyze

34:47
into the best deal for an annuity

34:48
guarantee. You can't, especially when

34:52
you're talking about lifetime income.

34:55
Because annuity companies, life

34:57
insurance companies that issue

34:58
annuities, when we quote, we don't care

35:00
about the carrier. We don't care. All we

35:02
want is for lifetime income A+ rated or

35:05
better and then the highest number. And

35:07
why do we say that is because annuity

35:10
quotes for lifetime income change like a

35:12
gallon of milk every 7 to 10 days. You

35:14
got to re-quote. Why? Because the

35:17
annuity companies are trying to attract

35:19
your age range. And you might have the

35:22
annuity company in mind that you love

35:24
their television commercial, etc. And

35:26
that's the one you want. But they might

35:28
finish fifth or sixth on the quote. Why?

35:30
because they have a full amount of

35:32
people that you're in your age in that

35:34
tunch. It's that simple. And that's the

35:37
reason we call all carriers because at

35:39
any point in time, one of these A+

35:41
carries or better needs your age range.

35:44
Think of a football stadium with you or

35:46
you and your spouse same age.

35:48
Everybody's the same age in that

35:49
football stadium. If the upper bowl of

35:51
that football stadium is empty, they're

35:53
going to have a higher guarantee to

35:55
attract you.

35:59
Make sense? That's the way it works.

36:01
Bottom line. Bottom line. You cannot

36:05
time it. You cannot I had a guy there to

36:08
say, "Well, Stan, you know what I'm

36:09
saying? You got this new Fed chairman

36:11
and he's going to have this. I'm going

36:12
to wait till that meeting." Why? Why?

36:16
Why? What he does isn't going to affect

36:18
life expectancy tables. I'm going to

36:20
tell you what is going toffect affect

36:21
life life expectancy tables. Artificial

36:24
intelligence. Because what's that what's

36:26
happening right now? The medical

36:28
breakthroughs are shortening the time,

36:31
all these medical breakthroughs, which

36:33
means that the annuity companies are

36:34
going to be able to build a case to say

36:37
we're all going to live longer, which

36:39
means the payments will be there'll be

36:40
more payments, which means the payments

36:42
will be lower. Right now, life

36:44
expectancy tables are in your favor.

36:48
Next three to five years, not so much. I

36:51
Someone said the other day, "Hey, Stan,

36:52
when's that life expecty table thing

36:54
going to change?" Man, if I knew that.

36:56
Come on, man.

36:57
[laughter]

36:57
I don't know. All I know is it's going

36:59
to happen.

37:01
And you're starting to see articles

37:04
about, you know, medical breakthroughs.

37:06
I saw one the other day on panc

37:07
pancreatic cancer breakthroughs. Are you

37:09
kidding me? Typically, when you get a

37:11
pancre Yeah, you got pancreatic cancer.

37:13
It's a wrap. You're done. It's over.

37:16
Start start packing your bags as they

37:18
say, right? Or not packing your bags.

37:21
Zeke, I don't know about that. It

37:22
depends on what, you know, faith line

37:24
you land on, right? I'd say don't pack

37:27
your bags. Right. It's like the guy on

37:30
Death Ros that uh orders a big meal and

37:33
then and then gets a to-go box, you

37:36
know, right before he gets electrocuted.

37:38
I heard that the other day. I was like,

37:40
that's goofy. [laughter]

37:42
All right, here we go. Let's go to the

37:44
next one. I like this one. I am blessed

37:46
to have a 403b, which is a which is a

37:48
it's like an IRA but for teachersish.

37:51
And since I'm 70 now, social security.

37:54
Good. I'm one of those people. you would

37:56
say doesn't need an annuity. Um, well,

37:59
there's two questions. What do you want

38:01
the money to contractually do? When do

38:02
you want those contractual guarantees to

38:04
start? You might be a person to say, "I

38:06
don't need any more income." Great. But

38:08
you might need principal protection. You

38:10
might need need legacy or you might need

38:13
long-term care. So, there are spaces and

38:16
contractual guarantees that can be

38:17
filled other than lifetime income. But

38:21
the original annuity, the single premium

38:23
immediate annuity been sold in this this

38:26
country for hundreds of years

38:29
and originally was was developed and

38:32
designed and introduced in the Roman

38:33
times for the beautiful Roman soldiers

38:35
and their families. Annuala, Latin for

38:37
payment. Um, I'd like to not have to

38:40
worry about the market anymore. Um, then

38:42
you need to look at at multi-year

38:44
guarantee annuities, not index

38:46
annuities. plays. God, so tired of that

38:50
sales pitch. Multi-year guarantee

38:53
annuities, the industry version of a CD.

38:55
You can go to my site, look at the look

38:57
at the rates. Um, and they're better

39:00
than CD rates. Why? Because life

39:01
insurance companies have many profit

39:03
centers to pull from, and they can give

39:05
a guaranteed interest rate that's higher

39:06
than CDs. But it's principal protected.

39:09
No fees, no market attachments, no

39:11
moving parts, no. It's just the rate.

39:14
You can lock it in. 1 2 3 4 5 6 7 8 9

39:16
10. 10 typically is the longest time

39:19
that I will allow you to lock in. But

39:21
right now, there's an argument to lock

39:22
in on longer on the yield curve just

39:24
because of where rates are right now. I

39:26
mean, it's good. So, I would look at my

39:29
go to my site. We got also too. I have

39:32
written owners manuals on all these

39:34
products. So, you can download the

39:35
owners manuals. You can go to my YouTube

39:36
channel and I've done hundreds of videos

39:38
on everything. I've done I think 2,000s

39:40
total right now. We do one a day. In

39:43
addition to this live event, there was

39:45
another one that came out today. We do

39:46
one video a day. New video, not

39:50
repurpose, brand new. Why, Stan? Why?

39:53
Well, first of all, I'm 38 years old. I

39:56
mean, I've been married for 38 years.

39:57
I'm not 38 years old, Zeke. What am I

39:59
talking about?

40:00
62 years old, but I've been married 38

40:02
years to the lovely Christine. Um, hey

40:06
man, I'm going to burn I'm going to burn

40:08
the candle at both ends. We're going to

40:09
we're going to go down swinging. My goal

40:12
is to change this industry to

40:14
contractual guarantees only. I'm the

40:16
founder of CGO contractual guarantees

40:18
only. It's going to change this this

40:21
hypothetical theoretical backtested

40:24
unicorns chasing the butterfly return

40:26
nonsense at the state dinner seminars.

40:28
I'm going to personally squash that

40:32
nonsense

40:33
or I'm just going to kill over dead. In

40:35
fact, I told Zeke the other I said,

40:37
"Zeek, if I'm on the video and I die,

40:39
like I have a heart attack like right

40:41
there and I die." First of all, Zeke, I

40:44
don't know if you know this, but when

40:45
you die, you crap your pants. You just

40:48
do. You lose you lose muscle control,

40:50
Zeke, let me put it another way to you

40:52
so you don't throw up. You lose muscle

40:54
control. But I told him, if that

40:55
happens, I need you to film it. I need

40:58
you to film it because we're still going

40:59
to be in business. I have a continuation

41:01
plan. Okay? You know, it' be like Jimmy

41:03
Dean sausage. Jimmy Dean's been dead for

41:05
10 plus years, but they sell a crapload

41:07
of sausages, no pun intended. There'll

41:09
be a lot of annuities sold when Stan's

41:11
gone, but as long as I'm here, I'm doing

41:13
one video a day. All right, here we go.

41:16
Let's go to another one. Is there a rule

41:19
of thumb? Is there a rule of thumb like

41:21
make all my essential expenses, the most

41:23
discretionary expenses contractual, then

41:26
invest the in the usual way of 60/40

41:29
portfolio? I agree with the first

41:30
question. I I I think the rule of thumb

41:33
is to I call it in your income floor.

41:36
Your income floor is covers all

41:38
essentials, covers the bills, covers

41:40
discretionary spending, going out to

41:42
eat, traveling to Bora Bora, wherever

41:44
you're going to do, that's your income

41:45
floor. The rest that allocation's up to

41:49
you.

41:50
The 6040, you're talking about 60 60%

41:53
stocks, 40% bonds, or 60 in bonds, 40%

41:56
stocks. The old napkin thing that we

41:58
used to do back in the day. Um, that's

42:00
up to you and your risk tolerance. But

42:03
if you won the game, you don't have to

42:04
do that. Remember, there's five places

42:05
on the planet you can put your money

42:07
that is safe and that you can get

42:09
interest from that. CDs, money markets,

42:13
treasuries, AAA, AAA, municipal bonds,

42:17
migas,

42:20
all five of those guaranteed principal

42:22
protected and you get a an interest

42:25
that's guaranteed contractually. So you

42:28
don't even have to do the 6040. You can

42:29
put the income floor in place and then,

42:31
you know, do some of those five and then

42:34
go live your life. Turn off cable

42:36
television, right? Turn off the podcast,

42:38
too. I swear to you,

42:41
there's too many podcasts. And like

42:43
everything in America, we just can't do

42:45
anything in moderation. I mean, there's

42:47
there's p there there's podcasts talking

42:49
about podcasts and then there's podcasts

42:52
that talk about podcasts that are

42:53
referring to other podcast.

42:56
What are we doing? Go outside, walk,

42:58
please do something, play guitar. How

43:01
about that? Um, but yeah. Next one. Here

43:05
we go.

43:07
Man, would you look at that? That's a

43:09
nice bow tie. You know what, Zeke?

43:12
Can you see me in a bow tie? I can't.

43:14
You know why? I'd look like a really

43:17
awkward butler. You know, like a 6'6

43:21
butler. You don't want that. Like if I

43:22
wore a bow tie, someone would come up to

43:24
me and ask me, you know, go get him a

43:26
drink and then I'd hit him in the head.

43:28
So that can't happen. This guy looks

43:29
good in the bow tie. Trying to address

43:31
assetbased hybrid. [groaning]

43:34
Hybrid. He said the word hybrid.

43:40
[groaning]

43:43
Hybrid's a plant.

43:45
Hybrid's a car. Hybrid can even be a

43:49
mattress. I learned the other day.

43:52
But [laughter]

43:55
hybrid

43:56
is not an annuity.

44:02
Oh my god.

44:05
What he's referring to is the Johnny

44:08
Apples Seed agent pitch of sir if you

44:10
buy this indexed annuity which I call a

44:13
hybrid for guaranteed income it has a it

44:16
has an income writer on it and it thves

44:19
for long-term care. That's the pitch.

44:23
Okay, without the frontal lisp. That's

44:26
the pitch. I just did that for emphasis

44:28
and fun.

44:30
I guess that would be FIA funded from a

44:32
traditional IRA.

44:35
Let's break this down. First of all,

44:39
don't buy an index annuity for growth.

44:41
Who cares? It's a delivery system for

44:42
the income writer because it's a

44:44
delivery system for the income writer.

44:45
You have to quote all income writers for

44:47
the highest contractual guarantee. And

44:49
those income writers with the index new

44:52
have to be A+ or better rated because

44:54
you're looking at lifetime income.

44:55
Please don't buy B plus for lifetime

44:57
income.

45:00
Now, index new with income writers can

45:02
be purchased in traditional IAS. They

45:05
can be purchased in Roth IAS. They can

45:07
be purchased with nonIRRA money. But you

45:10
don't purchase them just because Johnny

45:12
Apples said it's a [laughter]

45:15
hybrid. Give me a break.

45:18
It's crap. I thought I'd squash the

45:20
whole hybrid thing.

45:25
Answer the two questions. What do you

45:27
want the money to contractually do? When

45:28
do you want those contractual guarantees

45:30
to start? If you said, "I need lifetime

45:31
income and I need it to start two years,

45:33
three years, four years, five years, six

45:35
years, seven years down the road, we're

45:37
going to quote all income writers A+ or

45:40
better for the highest contractual

45:42
guarantee."

45:44
Not if anybody said I had a call this

45:46
morning goes, "Well, I bought it because

45:49
Freddy Freddy the agent said it was he'

45:51
done all the research and this was the

45:53
best one." Maybe the best one for him.

45:56
These are commodity products. Who gives

45:58
a crap?

46:00
A+ or better, highest number. A+ or

46:03
better, highest number. A+ or better.

46:06
Quoting for the highest number.

46:10
You can do that at my site. You can do

46:11
that with me.

46:13
But this here,

46:16
it's not his fault. I'm gonna call him

46:19
Dr. Bon. It's not Dr. Bon's fault. is

46:22
the idiot that pitched and used the word

46:26
hybrid. Literally, you have my license

46:29
and I and I'll back you up legally

46:31
somehow. If you just backhand the person

46:33
that says hybrid to you,

46:35
except at the plant store, those are

46:37
nice people. Okay? But if someone in the

46:39
annuity indust

46:44
got a hybrid annuity, shut up.

46:48
You're what's wrong with the annuity

46:49
industry.

46:51
You have to hype. There's no hype with

46:53
annuities. There's contractual

46:54
guarantees. I always tell if you buy the

46:57
dream, you're going to own the

46:58
contractual guarantee. So, let's just

47:00
start there.

47:02
I had a consultant the other day say,

47:03
"You know what, Stan?

47:06
Your business model intrigues me. It

47:08
really intrigues me, Stan. How does how

47:10
how do those annual reviews go?" Like,

47:13
annual reviews? What are you talking

47:15
about? We don't have annual reviews.

47:18
Everybody has contractual guarantees.

47:20
What am I reviewing? Hey, Bill. It's

47:23
Stan. So, annual review. We got this

47:25
contractual guarantees. Yeah. Yes, Stan.

47:28
What about them? They're still working.

47:30
See you later.

47:33
Annual reviews are for things that go up

47:35
and down that aren't guaranteed, and we

47:36
don't do that. Next question.

47:40
Zeke, I'm intense today. Do you think I

47:42
had too much coffee this morning? I know

47:45
you gave me the sign. Zeke's like, "No

47:47
more. No more. None.

47:51
I took my blood pressure medication. You

47:54
know, I did that. All right, here we go.

47:57
I'm gonna go as long as I want. See,

47:59
this might last forever. Are you ready

48:01
for that? Do you need to go to the

48:02
bathroom? Do you ever see Dirty Rotten

48:05
Scoundrels with Steve Martin? That's a

48:07
great movie because Steve Martin plays

48:08
this, you know, they're con artists,

48:10
whatever, but Steve Martin plays this

48:11
kind of out of it guy and he's sitting

48:13
at the table and goes, "Ruprect, Rupre,

48:17
can I go to the bathroom?

48:19
And the guy goes, "Sure, go ahead." And

48:22
he just went

48:24
[laughter]

48:26
and went right there. That's what Zeke's

48:28
gonna do.

48:30
[laughter] If I shut this down, it's

48:31
because Zeke just dropped a bomb and we

48:34
got to get out of this studio. By the

48:36
way, we're in the new studio. Zeke Zeke

48:39
pimp this thing out. I recall Rob

48:42
Canbble. That's, you know, that's it's

48:45
like

48:46
Rob needs to have like evil conval. He

48:50
needs to be evil condemnable. Rob, you

48:52
can you can steal that from. I recall

48:54
that annuity companies don't want

48:56
clients to have too much of their

48:57
portfolio in annuities. Correct. Amundo,

48:59
my friend. 50% of your investable asset.

49:02
That doesn't include your car, your

49:05
house, or your

49:08
oh shoot

49:09
guitar.

49:11
Okay? It's your investable assets, not

49:13
your guitar. Not your Jackson Randy

49:16
Rhodess Flying V guitar. Put that away,

49:19
Zeke. Okay. Is that the case? The answer

49:22
is yes. I could push you to 60 if you

49:24
told me why. And I have to go up the

49:26
food chain and and talk to, you know,

49:28
executive vice president to the vice

49:30
president to the executive of the vice

49:31
president and say I sign off on it. But

49:34
no more than that. What if I'm fine

49:36
keeping the majority of my money, my

49:38
retirement investment and annuities?

49:41
I mean, you can be fine all you want,

49:43
but the only way to get past 60% is for

49:45
your agent to commit a felony.

49:51
If you fill out your mortgage paperwork

49:53
and, you know, fictitiously, felony or

49:56
at least a misdemeanor. But if someone

49:58
does that in the annuity space,

50:01
hand over your license player, it's

50:03
over.

50:06
So, you can't go all in. And I'm not

50:07
gonna allow you to do that. Anyway, next

50:08
question. Zeke.

50:10
Do you like Zeke or just Zeke? Zeke.

50:13
Just Zeke. It's more manly, isn't it?

50:15
Yeah. Like Zeke, if you had a goatee,

50:18
it'd be Zeke. But you got like that full

50:20
beard, man. He's got one of those

50:22
Menanite beards. You know what I'm

50:23
saying? I guess Menanites.

50:27
Is Do you know what a Menite is? Never

50:29
mind. It's It's a religious group. when

50:32
you convert from a MA to a SPIA and yeah

50:35
I have videos on that MIGA to SPIA where

50:37
you have five-year MA and then five

50:39
years when it comes to the surrender

50:40
charge you we shop all immediate annuity

50:42
carriers for the highest contractual

50:44
guarantee and then it's a non-t taxable

50:45
event transfer to the immediate annuity

50:47
for lifetime income but then you have to

50:49
answer what do you want the money to

50:50
contractually do when do you want those

50:52
contractual guarantees to start do you

50:54
pay the tax on the interest converted

50:57
you're going your your uh cost basis

50:59
will transfer and then it's going to be

51:01
spread spread out over your lifetime

51:03
with the immediate annuity. That's how

51:05
it works. And when we run that quote,

51:07
we'll run the quote showing you the

51:09
exact amount of um if it's non IRA, the

51:13
exact amount of of taxes you'll have to

51:15
pay on the interest. Okay, good

51:16
question.

51:20
Jimbo, Billy Bob, good time. Jimbo,

51:23
Billy Bob, good time. Jimbo, good time.

51:29
Jim Billy good time.

51:34
I love that. I'm from North Carolina. He

51:36
might be he might be kin. You know what

51:39
I'm saying? Is the state guarantee for

51:42
annuities per annuity or aggregate?

51:45
If per why wouldn't you write three

51:49
250,000? I'm so glad you asked this,

51:53
Zeke. Is this a setup? Is this from you?

51:56
You're not Jimbo Billy Bob. Good time.

51:58
I'm telling you, man. If I still drank,

52:00
I'd be going out with Jimbo. Telling you

52:03
right now,

52:05
let's talk about state guarantee fund

52:06
right now. Um, nolga.com.

52:10
nolga.com.

52:13
You can find your state guarantee fund.

52:14
They're all different, okay? Some are

52:16
300, some are 100. California is barely

52:18
anything. It's one of those things. Just

52:20
pull up your state. But don't get caught

52:24
up in state guarantee funds. If it's A+

52:27
or better, it's a wrap. Don't worry

52:29
about it.

52:32
Did you hear me? Don't get caught up in

52:35
this. You don't have to wear a belt and

52:38
suspenders to the family reunion. Now,

52:42
there are sometimes we do migas at lower

52:44
lower ratings because we're dating the

52:47
ma. Remember dating Zeke? Zeke's

52:49
married. I don't know how he got that

52:50
happen. dating the MA companies, but

52:53
we're marrying God. That's hard for me

52:55
to say, isn't it? M A R R Y I N G.

52:59
Marrying lifetime income. A+ or better

53:02
for lifetime income. Don't worry about

53:05
it.

53:07
Don't worry about it. Period. People

53:08
like, well, what about this? You quoted

53:11
this and top one was A++.

53:14
They are the They are the state

53:16
guarantee fund for gosh sakes.

53:20
We do look at that for some of the migas

53:22
that we do. If if they're not A+ or

53:24
better, we'll look at that. But I'm

53:26
batting a thousand% player for decades.

53:30
I don't get this wrong.

53:34
I was at Morgan Stanley and we I know

53:37
how to look at these things. I know how

53:39
to look underneath their skirt, for lack

53:40
of a better phrase, at the financials.

53:45
But you can do that. And I had a guy the

53:47
other day say, "You know what, Stan? I

53:48
hear you on this stuff. I hear you on

53:50
the state guarantee fund, but me and the

53:52
misses just want to put them all

53:53
underneath the state guarantee fund. So,

53:55
let's do four under 250. Okay, Fred,

53:58
your call. It's your call. I'm not going

54:00
to tell you no. I'm just going to say

54:02
you don't have to if it's A+ or better.

54:05
Okay, go. Next.

54:09
All other things. Oh, who's this? M is

54:11
this Midway one or Milway one? All other

54:15
things being equal. Stand the annuity

54:16
man. America's new agent licensed all 50

54:18
states of Puerto Rico. Would you choose

54:20
life insurance company that is a mutual

54:22
company or a large public company owned

54:25
by private equity?

54:28
Well, first of all, private equity,

54:31
they're they're going to be in this

54:33
space because it's a demographic title

54:35
wave of 15,000 people turning 65 every

54:38
day. Hello.

54:40
Talking about economic proof. So,

54:42
they're going to be here and we look

54:43
under their skirt, too. Because one

54:46
thing about private equity companies,

54:47
they might think they're fancy, but when

54:48
they get out here in the life insurance

54:50
and annuity business, it's regulated

54:53
player. I mean to tell you, you have to

54:55
show it all. It's the reason you don't

54:58
see all kinds of crazy stories about

55:00
annuity companies. It's not that the

55:02
annuity company leaders are smarter than

55:04
people that run banks. They're just more

55:06
handcuffed not to do stupid things.

55:08
Okay.

55:10
But in this question, gunh holding my

55:13
head, you got you know on the stand is

55:15
loaded and I'm crazy. I'm gonna pull it.

55:17
Stan uh mutual companies and we

55:20
represent all those companies too.

55:24
But you ask me that's my that's my but

55:26
I'm not I'm not saying I would not

55:28
recommend a large publicly traded

55:31
company uh or a company owned by private

55:33
equity. We do that all the time because

55:35
I look at their ratings. I look at their

55:37
financials. I look at what we're doing

55:38
and the contractual guarantees in place

55:40
and I sign off on it and recommend it

55:42
and I'm batting a thousand. But you ask

55:46
a specific question. I if you said then

55:50
what's the gold standard of annoyed

55:53
complation? It's probably the it's

55:56
probably the um the the the mutual

55:58
companies which means they can't be as

56:01
influenced,

56:03
right? It's hard to change the logo. You

56:05
know what I'm saying? All right, next.

56:08
Boy, we got a lot of questions. I like

56:09
this. Backyard Dire. Backyard Dire.

56:15
Those of us with less than 200,000 were

56:18
already at risk, so to speak. It would

56:20
be beneficial to be able to use more

56:22
than 50%. I understand that. I

56:24
understand that backyard or as I call

56:26
you BYD. Um,

56:30
rules are rules. You know, we can take

56:31
you to 60, but we can't take you

56:33
further. And you you need to be you need

56:35
to feel good about that. We're

56:37
protecting the consumer. Now they're

56:39
Johnny Apple Seed agent take all 200 and

56:41
fictitiously fill out your application.

56:44
We're not going to do that. But I'm just

56:46
saying we can do buck 20 120 of that. I

56:49
can get that through. But the annuity

56:51
industry suggests 50. I just have the

56:54
stand the annuity man power and the logo

56:57
to go up the food chain and make my case

56:59
for the BYD.

57:01
And I would if you said, "Hey, I you

57:04
know, I need to maximize this for

57:05
income." I'd call up the highest the

57:08
company that had the highest contractual

57:10
guarantee after quoting everything for

57:11
you and say, "BY needs 60%." Not 50. And

57:15
they're going to say, "Stan the annuity

57:17
man licensed in all 50 states, Puerto

57:19
Rico. Do you sign off on it?" And I'm

57:21
go,

57:22
"If your story is real." Next question.

57:26
We got a Zeke. How many more questions

57:28
you want to do? Couple. Yeah. Okay, here

57:31
we go. Here we How many we got? We got a

57:35
lot. I don't know. My VA, let's do them

57:37
all. What the heck? My My VA variable

57:41
annuity income writer just gave us a 10%

57:45
in monthly payment going forward. Good.

57:50
Great. You know, if you already have an

57:52
annuity with an income writer, you

57:54
probably got to stay in that annuity

57:55
because the income writer is not

57:56
transferable. Also too, remember this.

57:59
the income writer benefit isn't part of

58:01
the state guarantee fund.

58:03
[sighs and gasps]

58:04
How about that?

58:06
Um, annuity companies, when you buy

58:08
income writers and you say, "Oh, I hate

58:10
that company. I want to transfer and

58:12
this this young man over here said I can

58:14
get upfront bonus and make up for that."

58:16
First of all, that's illegal. Okay? It's

58:18
called twisting and churning in the

58:20
business. But never do that. Um, but

58:22
most of the time you have an income

58:23
writer in place. You're not going to be

58:25
able to get out of it 99% of the time.

58:27
and we'll quote it and see if you can.

58:29
You've got to take the highest

58:30
contractual guarantee and the income

58:31
writer is makes that policy sticky that

58:33
you have to stay. But good for you on

58:35
that payout. It sounds like it's a good

58:37
annuity. Great. Perfect. All right.

58:39
Next.

58:41
Can we all get a retroactive Trump

58:44
account that grew a modest 8%. Yes. Uh

58:47
you can. And I don't know if anyone

58:50
knows this except Zeke. And Zeke got a

58:52
tattoo. I said, "Zeek, if you get this

58:54
tattooed,

58:56
I'll give you $5,000." And he said,

58:58
"Absolutely, I'll do it." And it was

59:01
Maja. And you're saying, "Really?" He

59:03
did that? That's called make annuities

59:06
great again. Make annuities.

59:09
That's what I'm doing every single day.

59:12
I don't know. I'll call I'll call up um

59:15
I'll call Trump.

59:17
I'll call Trump. He'll love my hat. That

59:20
red collar. They'd be like, "Why don't I

59:22
can't do I can't do a Trump. I can't do

59:25
a Trump impersonation. I'm probably the

59:27
only person in the country that can't do

59:28
it." Hi, Stan. Beth Kaufman. Hey, Beth.

59:34
Hi, Stan. I have one-third of my

59:36
portfolio and threelettered MGA with

59:38
TAM. That stands for the annuity man.

59:42
I'm 71.

59:44
The MA contractual guarantees made the

59:46
most sense to me. Sounds like it's okay

59:48
to stay in MA's long-term versus

59:49
another. The answer is yes. And in this

59:52
situation, if you have MAS and they

59:54
come, they start to come due, we are

59:57
tech people, not me, Zeke and the boys,

1:00:00
we're going to be in touch with you 60

1:00:02
days prior to the MA's maturing and ask

1:00:04
what you want to do with the money. So,

1:00:06
thank you both for being a client. We

1:00:08
really appreciate it. Here we go. We're

1:00:10
going to do them all. Mr. Basketball

1:00:12
Star 111, come on man. You look like an

1:00:15
offg guard. Like a point guard. I'm 66.

1:00:18
I just post you up and score score.

1:00:23
I just retired. I'm 67 years old. I have

1:00:25
employee sponsored pension pen. Good for

1:00:27
you. I mean, you're one of the 9% of the

1:00:29
people that has a a pension. I also have

1:00:32
an option to roll over my IRA. Roll it

1:00:34
over to an IRA.

1:00:38
All I would tell you in these

1:00:39
situations, it's just important common

1:00:43
sense to do an applesto apples

1:00:44
comparison. We will do that without

1:00:46
being pushy or assumptive. I would just,

1:00:49
hey, send us the guarantees that your

1:00:51
your employer is offering. We'll we'll

1:00:54
do an applesto apples quote, same exact

1:00:56
thing they're showing, and we'll quote

1:00:57
everybody. Then you can make a decision

1:00:59
who has the highest guarantee. If your

1:01:01
employer has the highest guarantee, we

1:01:03
are going to tell you to stay there. But

1:01:05
just let us use us as the counterbalance

1:01:09
to quote everything. Okay? That's what I

1:01:11
tell you to do, Mr. Basketball Star. And

1:01:12
of course, because I was a basketball

1:01:14
star in college at the University of

1:01:16
Central Florida, go Knights. Um, we can

1:01:20
speak basketball. You know, we can talk

1:01:22
a little basketball. So, next question.

1:01:23
We're going to keep going. Zeke, do you

1:01:25
have to go to the bathroom, Zeke?

1:01:29
I'm guessing that you do, and I don't

1:01:30
want to tell the people why. Okay. Come

1:01:32
on, man.

1:01:35
Stan,

1:01:37
this is from Mac. Yeah, I love the name

1:01:39
Mac M.

1:01:42
Aren't you? It's like a middle

1:01:44
linebacker name. Mac Roberts, number 55,

1:01:47
middle linebacker for Ohio State.

1:01:50
Should you have stated a person should

1:01:52
not put the majority of their, you know,

1:01:54
what is the max percentage? 50 to 60.

1:01:56
And if I said if I said it wrong, then

1:01:58
that's the first mistake I've made in

1:02:00
about seven years. But um you should not

1:02:04
put the majority of your money.

1:02:06
And I'm seeing the annuity man and I'm

1:02:09
telling you, no, no, no, no, no, no, no.

1:02:11
Hold, hold, hold. The max percentage is

1:02:13
typically 50% all in. Someone call me

1:02:16
this. All right. I I heard the 50 to

1:02:19
60%. Does that count my variable annuity

1:02:22
I bought 20 years ago? Yes, it does,

1:02:24
Ernie. [laughter]

1:02:26
To what has grown to as a percentage of

1:02:28
your investable assets? Next question.

1:02:30
Keep going.

1:02:32
Bert KG7X

1:02:35
with a sheep emoji. Can you explain a

1:02:38
scenario where you would recommend a

1:02:40
MIGA versus a SPIA?

1:02:42
Is the start date the determining

1:02:45
factor, but all else equal? No, I'm not

1:02:48
yelling at you. See, I don't yell. Only

1:02:52
a few people in the world have heard me

1:02:53
yell. Okay, it's not my wife because she

1:02:55
would have kicked me. My my daughters

1:02:57
have. Some of my employees, Zeke, could

1:02:59
probably say, "Yeah, I've raised my

1:03:01
voice a couple times." But it's the

1:03:03
intensity, that's the love, it's the

1:03:05
it's I want you to hear the truth. So

1:03:07
translate that. Um, explain the scenario

1:03:10
you'd recommend at MIA to speak versus

1:03:12
SPIA. Again, two questions. What do you

1:03:14
want the money to contractually do? If

1:03:16
you said income and you want it to start

1:03:18
now, then it's a SPIA. If you said

1:03:20
principal protection and you wanted to

1:03:22
start now, it's a MIGA.

1:03:24
The other way that I would do my speed

1:03:26
is if you said, "Stan, I've got $5

1:03:29
million.

1:03:31
That's half of my portfolio. That means

1:03:33
if I got 5% on a MIG, I'd get 250 a year

1:03:37
and I never touch the principal and

1:03:38
that's enough for me." Then MAS makes

1:03:41
more sense than an immediate annuity for

1:03:42
lifetime income. And I always say to

1:03:45
people, if the interest off the top of

1:03:47
the MA is sufficient for from an income

1:03:50
gap filling standpoint, then don't buy

1:03:52
the SPIA.

1:03:54
The immediate annuity value proposition

1:03:56
is going to pay for as long as you're

1:03:57
breathing and or on a respirator and if

1:04:00
you're on on in a coma, it's going to

1:04:02
pay. The value proposition is is life,

1:04:05
the lifetime. And we can structure it so

1:04:07
if your LJET hits them out in the you

1:04:09
know, all your beneficiary keep the

1:04:10
money, any money that's left. Okay?

1:04:14
But those are the scenarios. It really

1:04:16
comes down to your personal situation.

1:04:19
If we can solve it by just peeling off

1:04:20
interest of the mig and keeping the

1:04:22
powder dry and that principle intact,

1:04:23
we're going to do that. But if you say,

1:04:26
you know what, Stan, I'm I'm hitting

1:04:28
about on seven. Like Zeke's car, you

1:04:30
know, Zeke's one of those guys drives a

1:04:31
car smoking everything. It's hitting on

1:04:33
about it's a sixcylinder. It's got about

1:04:35
three cylinders working in it. If your

1:04:38
brain's like that, then we might need to

1:04:39
buy an immediate annuity just to get

1:04:41
things turnkey if that makes sense. See,

1:04:43
I didn't yell, Zeke, I didn't yell. I

1:04:45
didn't yell. Next question.

1:04:50
Why don't they? Man, that is a good

1:04:52
looking picture. Are you kidding me?

1:04:53
That's like reflecting on my life and

1:04:56
it's been a good life. Look at him.

1:04:58
That's fantastic. I want a picture like

1:05:01
that. It would it would be fraudulent

1:05:03
because I'm a I'm a pessimistic realist.

1:05:06
That's really what I am. I'm glass. I'm

1:05:08
not a glass half empty. I'm not I'm

1:05:10
looking for the damn glass. You follow

1:05:12
me? Why don't they want you to put more

1:05:14
than 60% in annuities?

1:05:18
[sighs]

1:05:19
They're trying to they meaning the

1:05:21
annuity industry and the National

1:05:22
Association of Insurance Commissioners

1:05:24
that oversee everything. They're trying

1:05:26
to reel in these Johnny Apples Seed

1:05:28
agents that are sociopaths

1:05:32
that sell one index annuity product so

1:05:34
they can qualify for the trip and it

1:05:36
pays them the most commission. And if

1:05:38
they can find Grandma Jones with a in

1:05:41
the trailer and take every penny of her

1:05:43
money, they will. They're trying to

1:05:45
circumvent that. That's why.

1:05:48
That's why. And you got to say, "Well,

1:05:49
Stan,

1:05:51
if everyone was the fiduciary, wouldn't

1:05:53
that help?" No, it wouldn't help.

1:05:55
Fidiciary. I mean, crap. That means you

1:05:56
got a plaque on the wall that says

1:05:57
you're a good guy. Every or gal,

1:06:00
everybody in the in the financial

1:06:02
business should be acting as a fiduciary

1:06:05
voluntarily.

1:06:07
Okay. Putting the client's best interest

1:06:09
ahead of theirs. Duh. Right. That's the

1:06:13
reason. Trying to save themselves from

1:06:15
themselves. Next question.

1:06:17
Can a US citizen living outside the US

1:06:20
buy an annuity? Do the states um back

1:06:22
the claim if the company fails? Let's

1:06:24
let's cover the first part because I get

1:06:26
this a lot and there's a lot of

1:06:27
expatriots going out there. Zeke,

1:06:30
they're leaving us. Country is crazy.

1:06:32
Zeke, it's crazy.

1:06:35
You have to sign the paperwork in the

1:06:37
United States

1:06:40
in your state of residence. You can't I

1:06:43
had had a person that I forgot where

1:06:46
they were, Venezuela or somewhere. I

1:06:48
don't know where they were, but anyway,

1:06:50
they were just they could not believe

1:06:51
that they couldn't buy an annuity. I

1:06:55
said, "Well, if you still have a

1:06:56
residency in the United States, you can

1:06:58
fly back and sign it there." They said,

1:07:00
"Well, what if I have a residency? I

1:07:01
want to sign it in Venezuela." I say you

1:07:03
can't because with DocYsine they know

1:07:06
where you're signing.

1:07:10
You have to buy domestic annuity.

1:07:14
You have to be in your state of

1:07:15
residence. You got to have a state of

1:07:16
residence. You cannot Hey, I'm I'm going

1:07:18
to Mexico. I'm in Mex I'm Mexico. I'm

1:07:21
Mexican now.

1:07:23
You can't do it. And man, I know this

1:07:26
backwards and forwards because back in

1:07:27
the day, Union Bank of Switzerland, I

1:07:31
had some, you know, I was working in a

1:07:34
lot of the Swiss annuities back then.

1:07:36
Remember those? Those are gone. It's a

1:07:38
great story behind that. I have to tell

1:07:40
that one day. But one of my friends went

1:07:43
state, long story, one of my friends at

1:07:45
UBS went States evidence and got the

1:07:47
largest whistleblower award ever. He

1:07:49
turned everything in. He turned all the

1:07:52
all the Swiss annuities in. He got like

1:07:54
$110 million

1:07:56
tax-free whistleblower award. The the

1:07:59
largest of all time. But now he's on the

1:08:02
run. Not I'm not kidding. Now he's

1:08:04
worried for his life.

1:08:08
I should write a book. No, wait a

1:08:10
minute. I've written seven. [laughter]

1:08:12
So that's the answer to your question.

1:08:13
No. No. You can't play around. Next. And

1:08:17
let me tell you another reason why the

1:08:18
Patriot Act before Bitcoin and crypto

1:08:22
hit, annuities and life insurance were

1:08:24
the sole source of money laundering

1:08:27
pretty much. Then then the crypto took

1:08:29
over, but the Patriot Act still has some

1:08:32
really tough rules in there, which is

1:08:34
good. Does the amount of in a MIGA count

1:08:36
towards the 50%? Yes. MA multi-year

1:08:39
guaranteed annuity.

1:08:43
Did I yell? Was that yelling, Zeke?

1:08:46
annuity

1:08:48
annuities.

1:08:50
Okay.

1:08:51
MAS, SPAS, DAS, QAX,

1:08:54
index annuities, registered index,

1:08:56
linked annuities, variable annuities.

1:08:59
It's pretty much the gamut. I might have

1:09:00
missed one there. Seven or eight

1:09:03
annuities total in cumulative. Next.

1:09:10
Okay. Oh, surely surely surely surely.

1:09:14
Surely,

1:09:17
surely you just

1:09:20
bonuses. I'm seeing better bonuses.

1:09:23
One,

1:09:28
how many pennies are there in the

1:09:29
dollar, Shirley?

1:09:31
You're right. 100. If someone's given a

1:09:34
30% bonus, does that mean there's 130

1:09:37
cents in the dollar

1:09:40
or 50% bonus at 150 cents in the dollar?

1:09:44
No,

1:09:46
bonuses are candy for the stupid. And

1:09:48
I'm not calling you stupid. I'm just

1:09:49
saying the decision to buy an annuity

1:09:52
based on a bonus is stupid.

1:09:55
It's the dumbest thing you can do. It

1:09:57
means nothing. It's like going to the

1:09:59
car dealership and saying, "Don't show

1:10:02
me the transmission. I don't want to

1:10:04
know about the engine. I really don't

1:10:05
want to know about the transmission. All

1:10:08
I want to know about is that stereo

1:10:10
system." Would you do that? That's what

1:10:14
you're doing here. One company says the

1:10:16
bonus will cover my termination charges.

1:10:21
That is illegal.

1:10:24
So, they're saying, "Well, you got

1:10:25
surrender charges on this one, but this

1:10:27
upfront bonus will cover those surrender

1:10:29
charges."

1:10:30
That's at a minimum a misdemeanor. At a

1:10:34
minimum, lose your license, and at a

1:10:37
maximum spend time in jail.

1:10:40
Really? Well, why would he do that? I

1:10:42
don't know. Why you think

1:10:47
this right here is why I do what I do.

1:10:51
I've got to stop these sales

1:10:53
presentations. I've got to stop that

1:10:55
person trying to convince Shirley to

1:10:58
take an upfront bonus to solve for

1:11:00
surrender charges. It's garbage. It's

1:11:04
criminal.

1:11:06
It's a joke.

1:11:10
And that person should be ashamed of

1:11:13
themselves for trying to get Shirley to

1:11:15
do that and they should lose their

1:11:18
license and they should not be in the in

1:11:20
the in the financial business. Please

1:11:22
don't do that.

1:11:25
If you want me to look at your annuity

1:11:26
and tell you how how to make lemonade

1:11:28
out of it, I can.

1:11:31
But all that person is doing and in the

1:11:33
business it's called twisting churning.

1:11:36
In the securities business, it's called

1:11:37
churning. You're you're selling

1:11:39
something to create a commission. In the

1:11:40
annuity business, you're twisting one

1:11:42
policy to go into another policy to

1:11:45
create a commission. Both are crap. Both

1:11:47
are wrong. Both should be

1:11:51
[sighs]

1:11:52
severe penalties attached.

1:11:56
Next question.

1:11:58
When am I matures? I'm going to say

1:12:01
that's matures, not mutes.

1:12:04
Zeke, what's mute mean? You're from

1:12:07
Hawaii. Come on. Is that like one of

1:12:10
those pipes? No, it's not. Can I

1:12:13
continue buying another one postpone?

1:12:15
Yeah, you can roll it. Another In other

1:12:17
words, you can get to the end of the

1:12:18
duration. Let's say you have a fiveyear,

1:12:19
we call you 60 days prior. You say,

1:12:22
"Hey, what do you want to do?" And you

1:12:24
say, you know, I just want to roll it to

1:12:26
another. We can roll it and keep

1:12:27
pushing, kicking the tax can down the

1:12:29
road. That's what I'm doing personally.

1:12:32
I have a shiato load of migas.

1:12:35
Okay, we're just gonna roll and roll and

1:12:38
roll rolling rolling rolling. Keep them

1:12:41
mas rolling. Rolling rolling rolling.

1:12:44
Compound interest.

1:12:46
So, yes, you can. See, did you know I

1:12:49
could sing like that?

1:12:51
All right, here we go.

1:12:54
[laughter]

1:12:56
I swear I swear to you if I drop dead of

1:13:01
a heart attack, it's because someone

1:13:02
said I'm from Bonafith. I'm looking at

1:13:04
it for the front bonus fan. I had a

1:13:07
consultant say the other day in a

1:13:09
meeting and I just screamed at the top

1:13:12
of my lungs and I swear I did because

1:13:13
I'll bring I'll bring in the guy who

1:13:15
runs my company really smart young from

1:13:18
Google and and he's sitting in there and

1:13:19
the guy goes, "Well, we're really proud

1:13:21
because we just introduced our first

1:13:22
bonus annuity." I went, "Ah, oh my god,

1:13:26
what did you just say?"

1:13:29
And he was proud of it.

1:13:32
[snorts]

1:13:33
Okay, I'm gonna stay cool. Hey, man.

1:13:35
Here's the thing. I want all you as a

1:13:38
client. If your client's mine, thank

1:13:39
you. If you're not, Listen, I don't take

1:13:42
myself too seriously, but I'm very

1:13:43
serious about what I do, and I have

1:13:45
forgotten more than anybody in the

1:13:47
business knows. Serious. Next.

1:13:53
What do you think about annuities

1:13:54
designed primarily for long-term care

1:13:56
benefits? I love them. Love, love, love,

1:13:58
love, love. long-term care annuities are

1:14:00
actually a health insurance product. And

1:14:02
I do use a person that is a specialist

1:14:04
in that, not associated with my company,

1:14:07
but he only does long-term care. And

1:14:10
there are some good long-term care

1:14:12
annuities that are guaranteed issue and

1:14:14
that are simplified issue. So, if you're

1:14:17
out there smoking like Zeke, smoking,

1:14:19
you know, cigarette after cigarette

1:14:20
after cigarette and then Jack Daniels at

1:14:22
the end of the day, there's still

1:14:24
something for you out there. I mean,

1:14:26
there's really a good marketplace for

1:14:27
that. just, you know, stand at

1:14:28
theanuityman.com.

1:14:30
Zeke, we're setting a record here. We're

1:14:32
over the hour.

1:14:36
[laughter]

1:14:36
Shirley, thank you, Shirley. Shirley,

1:14:39
thank you.

1:14:41
Shirley's not going to fall for that.

1:14:43
Thank you. And that agent never never

1:14:45
never answer the phone. Never let them

1:14:47
talk to you again because you're just a

1:14:50
you're just a nail and they're a hammer.

1:14:52
That's all they're looking for. They're

1:14:54
looking just to drive drive that annuity

1:14:56
home, make the money. All right, here we

1:14:58
go. You are awesome. Now, stop right

1:15:00
there, Antonio.

1:15:02
See, can we do a screenshot and send

1:15:04
that to my freaking wife and my two

1:15:07
daughters? See, my two daughters, 29 and

1:15:11
27, the princesses. See, the wife's the

1:15:13
queen, the two daughters, the

1:15:15
princesses. The princesses think I am a

1:15:18
complete abhorrent

1:15:20
disaster of a capitalist.

1:15:23
Of which I say, you're living under the

1:15:25
umbrella of capitalism that I so eagerly

1:15:27
provide.

1:15:28
But I appreciate that. Listen, I love

1:15:31
what I do. I don't need to do that. I

1:15:32
love what I do. I'm going to die doing

1:15:35
this.

1:15:37
Or until there might come a time that

1:15:39
everybody says the same thing I say

1:15:42
across the board. There's no hype and

1:15:44
index and this and bonuses and all.

1:15:46
That'd be great. I'll retire.

1:15:49
But until then, I'm going to keep

1:15:50
hammering away and making agents life a

1:15:53
freaking nightmare because I'm talking

1:15:55
about contractual guarantees. They're

1:15:56
talking about, well, if you don't own it

1:15:58
10 years ago, you'd have made this. Shut

1:16:01
up. Next.

1:16:04
Can a period income can a period income

1:16:06
annuity be rolled over? No.

1:16:09
Period certain immediate annuity. What

1:16:11
that means is, hey Stan, I want a

1:16:14
10-year period certain or a 15-ear

1:16:16
period certain or a 20-year period

1:16:17
certain. Okay, that means it's going to

1:16:19
just pay for that time period, not a

1:16:22
lifetime, just that time period. You

1:16:24
say, well, wait a minute, Stan, why

1:16:26
would anyone do that? Well, I had a guy

1:16:27
the other day, Stan, I need to buy 10

1:16:29
years period. Of course, I said, why? He

1:16:32
goes, because in 10 years, I've got this

1:16:34
other income stream kicking in and I

1:16:35
need to fill that gap. Bingo. Suitable.

1:16:38
Makes sense. But you can't roll it. It's

1:16:41
a it's a irrevocable income stream for

1:16:45
that period of time. Okay. Next.

1:16:50
We can tell the passion you have for it.

1:16:52
I'm grateful. Thank you, Beth.

1:16:54
I appreciate that. I am.

1:16:58
I'm I'm

1:17:00
This is real. I mean, this this is

1:17:02
transparent as it get. I mean, Zeke Zeke

1:17:04
will tell you, I walk in the office,

1:17:05
it's it's game on, you know. I actually

1:17:08
have everyone tap a sign kind of like

1:17:10
Notre Dame football but not Notre Dame

1:17:12
football that when they tap in and they

1:17:14
walk in, it's game on. We're gonna take

1:17:17
care of the clients.

1:17:20
I need you for eight hours as an

1:17:21
employee. I need you here. I need you

1:17:22
present. I need you going at it. We have

1:17:24
two shifts. One starts at Vegas time.

1:17:27
5:30 in the morning goes to two. One

1:17:29
starts at 9 goes to 5:30. Tap in. And if

1:17:33
they're not passionate, they're not here

1:17:34
long. Can I get an amen on that? Zeke.

1:17:38
Zeke's the only one that's allowed to be

1:17:39
chill because he's like the creative

1:17:42
guy, right? He's not licensed in all 50

1:17:44
states because he's the creative guy,

1:17:48
but everyone else is. All right, here we

1:17:50
go. We're going to keep going. Thanks,

1:17:52
Sam. Thank you. Really cute. Really

1:17:54
cute. Really cute. Don't no barbecue. I

1:17:58
want really cute. Zeke,

1:18:03
we got any more Zeke? Is that it?

1:18:09
Come on, Zeke. Where you at, Zeke?

1:18:12
That's it.

1:18:14
Hey, couple things before you go.

1:18:16
Stantheanuityman.com.

1:18:18
Let me send you one. I need free

1:18:19
advertisement out there, player. And

1:18:21
what better to do that with with this,

1:18:24
right? Why not? I want to thank you for

1:18:27
joining me. We do this one time a month,

1:18:29
and it is an absolute freaking

1:18:31
free-for-all of fun and frivvality and

1:18:34
facts.

1:18:38
My name is Stan the Annuity Man,

1:18:39
America's annuity agent.

1:18:42
See you next time.

1:18:47
[music]

1:18:48
Thanks for watching.

1:18:53
Check out our website, [music]

1:18:58
the unworthyman.com.

1:19:03
[music]