How Much Do You Really Need to Retire? (TAM Classic)

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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 wearing the Stan swag, the

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Stan sweatshirt, the Stan hats. By the

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way, for all you people out there that

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are wanting the hat, first of all,

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that's cool that you'd wear the standing

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annuity man hat. We have run out, but

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you can email us and I I think we're

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getting some more back in. My management

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team's here and they're nodding their

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heads, so we'd be more than happy to

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send you those until we run out again

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and I guess we'll order them. But um we

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really appreciate people wanting to wear

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the stand the annuity man swag.

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America's annuity agent. Today's topic

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is how much do you need to retire? I

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guess in this case we're talking about

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money, but I'm going to cover other

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things because that's what I do. I can

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free form this. But how much money do

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you need to

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retire? I'm going to tell you how to do

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that is very simple. I always say, you

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know, there's no the only thing complex

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about the financial services business

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and and especially the annuity industry.

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The only thing complex are the agents

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and the advisors selling it and how they

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present it. Annuities are contracts.

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This is very very simple. It's it's like

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social security. The other annuity you

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own, you just have to make a decision

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when you turn on the income, right? Nod

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your head and it's going to increase.

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Best inflation annuity on the planet.

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But when we look at annuities, we're

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going to look at the contractual

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guarantees of the policy. So, how much

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do you need to retire? We're going to

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cover the money portion of that and

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other things as well after

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this. All right. So, how much do you

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need to retire? Now, before we get into

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the annuities, let's talk about

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retirement. That's that's a tough word.

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And in fact, that word really hasn't

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even been used except in America. I

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mean, it's it's like an industry now,

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retirement industry. But my wife is

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always like fearful going, "How's it,

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how's it actually going to work with you

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with retirement?" I don't know. I'm

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scared for her as well because I don't

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know because I'm on, if you notice, you

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know, I drink a lot of coffee. I'm up.

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I'm ready to go. Blah blah blah. How

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much do you need for to retire? How much

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do you need for retirement? Let's talk

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about clothing because for me, I need

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hundreds and hundreds of t-shirts and

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hundreds and hundreds of

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Adidas, you know, suits and and shoes

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and things like that. My wife's like,

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"No, no, no. Please no more because it's

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like creeping into other closets. Okay,

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but how much do you need for retirement?

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I think it's a broader picture than just

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money and a broader picture than income.

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And um I know you're saying, Stan, you

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look vibrant. There's no way that you

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could be anywhere close to retirement.

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And I don't plan on retiring. I mean, I

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plan on doing this as long as the camera

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is rolling, as they say. And I got a

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great team in place in my main office in

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Las Vegas. We have multiple offices, but

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you know what what do you do with

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retirement? A lot of you struggle with

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that. And um my wife and I, I don't

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think we're struggling, but we're

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communicating about it. How's that going

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to work? How's chapter 2 of our life

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going to work, etc. Um but when it comes

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to retirement and money, it all comes

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around, in my opinion, to what I call

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the income floor. What is the income

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floor? Very good question. Glad you

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asked. Income floor is that amount of

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money that's hitting your account every

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single month. Not we're not talking

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about market. We're not talking about

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risk. We're talking about social

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security dividend income pensions, which

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is another annuity if you're so

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fortunate to have a pension, interest

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off of CDs or MGA's annuity industry

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version of of a CD income that's hitting

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your bank account that politics don't

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affect, etc., you know, it's it's that

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income

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floor. That's where annuities come in in

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my opinion because everybody has that

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budget for the income floor. leads to

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another story. Sidebar, my wife's like,

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"Um, what I really I said, what you

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know, I've told her this. I said, we're

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talking about retirement and things like

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that." She goes, "It'd be nice like in

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retirement for us to have a budget.

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Like, we've never really had a budget

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because I'm I don't know if you noticed

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this. I'm a little wild. You know, have

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ideas." And I'm like, "Yeah, I

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understand that." And budgets are are

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what the income floor is all about,

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right? So, what is the budget? What is

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the amount of money that you need to

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live off of, including going out and eat

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and going traveling and being on the

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cruise and buying the new car? What is

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that amount? What is that amount? And is

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there a gap to fill in that amount that

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annuities can fill? And you might say,

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"Well, I don't want an annuity because

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when I die in annuity company keeps the

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money." Well, that first of all is very

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uninformed. I'm sorry that someone's

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told you that. That's not true. We can

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structure

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contractually and shop all carriers for

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the highest contractual guarantee, a

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lifetime income for either you or you

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and your spouse. So if you die, it's the

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income's going to continue uninterrupted

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and unchanged for their life. But we can

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also structure it so when they pass away

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or if both of you pass away in a in a

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fiery Learjet crash, 100% of the money

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goes to the listed beneficiaries of the

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policy and the evil annuity company

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doesn't keep a penny even though they're

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on the hook to pay.

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So yes, you can have your cake and eat

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it too. I guess it's without the icing,

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but the cake is the lifetime income. The

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eat it too is the annuity company

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doesn't keep a penny even though they're

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on the hook to pay. Don't feel sorry for

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them because they know life expectancy.

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They know when you're going to die.

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That's the reason they have the big

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buildings but logos on the plane and

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they're sponsoring sports stadiums. They

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know when you're going to die. That's

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the reason life insurance companies are

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profitable and property and casualty

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insurance companies are not because they

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don't know when the hurricane's going to

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hit or the fire is going to happen.

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Right. Nod your head.

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So looking at income floor, looking at

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retirement, how much do you need for

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retirement? Which which was the the

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question, the reason you clicked because

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you're thinking that how much do you

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need for you non-budgeteers out there,

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you need to get the pencil out. You need

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to have communi communicate with your

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family, your your spouse, etc. What are

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we spending? How are we spending it?

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What do we need? What are potential

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increases in the future? And then what

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you can do is run reverse engineer

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quotes using my site at

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theannuityman.com. Meaning that, hey

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Stan, we need an additional $722 based

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upon my calculations because I'm an

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accountant and OCD and I know to the

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penny what it is. You can put in how

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much how much would it take to create a

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lifetime income stream for me and the

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spouse starting in 30 days, a year, two

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years, five years that 722, whatever you

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came up. What's the least amount of

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money it's going to take to create that

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contractually? And it's going to hit my

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bank account every single month. That's

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how I want you to think. It's all about

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income floor. What's the income floor?

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Now, let me say one thing that's going

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to upset some advisors, but I'm 66 and

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I'm about 225, so bring it on. Okay?

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Very I'm very calm. I'm a harmless

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fuzzball. But the point is, they're

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going to say, "Well, you don't have to

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buy an annuity. You can just keep the

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money with me. I charge you a fee

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annually. I put it in the market and you

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can just peel off the gains. Just take

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4% off. That is garbage cropola. That's

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nonsense because the first year there's

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a down market. That that whole strategy

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goes out the window. Don't believe me?

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Believe the smart guy in the room. Wade

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foul PFAU. Pull it up. He's been on my

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fun with annuities podcast. He has

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factually destroyed that. And he didn't

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play basketball at UCF. He went

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Princeton. Okay. I went I played

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basketball at UCF. Princeton basketball

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UCF. Listen to Wade. But I'm just I'm

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just echoing what he said. The 4% rule

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is dead. If you're going to do, you

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know, retirement correctly and how much

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do you need for retirement? And we're

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not talking about close now. We're

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talking about money. You need to reverse

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engineer that quote using annuities. And

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I always ask people two questions. What

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do you want the money to contractually

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do? When do you want those contractual

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guarantees to start? that will determine

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the type of annuity that we use to solve

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for that contractual goal. And then we

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shop all carriers because it's a

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commodity product. Yes, I've made it

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simple. It should be that simple. We're

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the leaders in the industry because we

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make it simple. And eventually,

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everyone's going to do it like us

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because they're going to find out that

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clients are going to be happier because

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we're not selling the whistles and bells

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and the hypotheticals. We're selling the

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contractual guarantee. So, big question

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of the day, how much do you need for

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retirement? How much money do you need

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for retirement? It's pretty simple. When

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you reverse engineer quotes and use

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contractual guarantees to solve for that

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income floor. Got it? Good. My name is

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Stan the Annuity Man. Hit the subscribe

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button. I'll see you on the next Stan

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the Annuity Man YouTube video.