How To Set Up A Charitable Gift Annuity

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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 in Puerto Rico. Today's topic

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is a good one. How to set up a

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charitable gift annuity. Better than

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that, I'm going to tell you what a

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charitable gift annuity is so you can

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set one up because most people out there

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are going

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ter. Um, and the reason you don't know

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about it is because agents don't get

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paid commission to sell it, which means

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you'll never hear about it unless it's

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from me and you're saying, "Well, wait a

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minute, Stan. Well, then you know you're

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like the top agent in the world. Why are

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you talking about it?" I mean, that

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would make no sense, son. What are you

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doing? You, what are you, philanthropist

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or something? No, I'm not. It's the

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right thing to do. You need to

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understand it. You need to be aware that

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it's available so you can make good

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decisions. Hey man, I am here to clean

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this crap up. And crap meaning the

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annuity industry and how things are

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sold. And part of that is to tell people

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about products that we don't get paid

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on.

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And that's a charitable gift annuity.

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I'm going to tell you all about it after

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this.

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So, how do you even set a charitable

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gift annuity up? Hey, easy. slow down.

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Let's talk about it.

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The um the organization that oversees

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charitable gift annuities is called the

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American Council on Gift Annuities.

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ACGA,

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American Council on Gift Annuities.

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Really nice people. They do a good job,

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but they do oversee it all. Okay? And

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what a gift annuity is, it's not issued

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by a life insurance company. It's issued

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by a nonprofit. or a hospital or a

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university, you know, the Humane

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Society, Salvation Army, public

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broadcasting, your favorite charity of

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choice.

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And what they do is they say, "Okay,

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we'll pay you a lifetime income stream,

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but when you die, the money left goes to

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our organization."

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Not a bad deal. Here's the best part.

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Because you're setting it up with a ch

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the charitable gift annuity, you get tax

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breaks that your CPA and or tax lawyer

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can explain to you because I can't

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legally give tax advice, but trust me,

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it's good.

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So, think of a single premium immediate

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annuity, a SPIA. If you go to my site at

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theanuityman.com, you can download an

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immediate annuity owners manual. You can

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run SPIA quotes without putting in your

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information. You can you get quotes

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just your date of birth, your gender,

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your state of residence, and you can see

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the quotes. But a charitable gift

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annuity is a SPIA

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with some tax benefits. You're in

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essence buying a lifeonly SPIA. Life

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only means when your Lejet hits the

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mountain,

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money goes poof. But in this case, the

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poof goes to all the money goes to the

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charity. Sounds pretty good, huh? You

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You're still You wait. Promise me St.

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Pinky. Promise me that you're not

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getting paid on this some consulting

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crap. Some under the table nonsense. No,

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I'm not. The American Council on Gift

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Annuities would not allow that ever.

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I'm hoping that's how they talk at their

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meetings.

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But anyway, so recently I did um you

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know, I've done some work. My favorite

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one is is working for Larry Arn and and

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the people at Hillsdale College. I've

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helped them do a little bit on their ch

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they had a charitable gift annuity

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program. I just kind of consulted with

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them a little bit and tweaked it a

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little bit and how do we market it to

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raise more money and it's been great for

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Hillsdale. By the way, I'm not don't

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don't go crazy if you're like hate

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Hillsdale or you don't like rightwing.

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I'm not right-wing. I'm contra I'm

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contractual. I'm not Democrat or

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Republican. I'm contractual. I'm

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thinking about running on the

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contractual guarantees only platform in

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28 and I will win. Can you imagine me up

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there with those idiot people that are

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running from other parties? Me against

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them. Come on, man.

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Talking about dunking on somebody. Come

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on, man. These are mental midgets

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compared to me. But no, I'm not running.

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You know why? I don't want to take the

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pay cut.

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um charitable gift and new. So, how do

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you set one up? You know, let's just say

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you went to good old state u good old

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state university. Raw rah sisbumba state

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university rah sisbumba state

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university.

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I can pretty much guarantee you that

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they have a charitable gift part of

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their program of their giving side of

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the of the university because you know

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they love those money gifts. Got got to

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raise money for the football team

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because that's important. You know that

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football, that's life or death, son.

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That's life or death. We need to pay

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that cornerback a million dollars

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because he might get an interception

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this year. Okay. Um, but I digress. So,

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you go to the university, you're not

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going to have some agent or advisor.

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It'll be like Johnny Dog Good be his

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name. Johnny Doo Good. And Johnny Dog

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Good's going to say, "This is how it

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works. This is how you this is the stuff

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you have to sign, you know, etc., etc."

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and then the payments start ex etc. It's

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easy. You set it up with the university

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or the other night I was watching some

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documentary. It was Ken Burns. I love

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the Kin Burns documentary. You know, I

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love those things. Anyway, so at the end

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they had the charitable gift annuity for

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PBS advertisement. You know, Johnny Dog

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Good. Call Johnny Do good and Johnny Dog

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Good will take care of it for you.

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Great. I've had clients

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that do half in the charitable gift

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annuity and half in the immediate

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annuity. And when the charitable gift

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annuity sends you a quote, which they

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should, which you got to demand, have me

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quote against it and say, "Okay, here's

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the difference. Okay, here's the SPIA.

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Here's the CGA. Here's the charitable

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gift annuity. Here's the taxation on

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this. Here's the taxation on that."

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That's called That's called Benjamin

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Gra. Ben, not Benjamin Graham, Benjamin

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Franklin analysis,

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good and the bad. And he, you know, most

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people go, "Okay, I have to do some over

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here and some over here." You have to

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make sure that that 501c3, you know,

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hospital, whoever, Humane Society,

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Cancer Society, whoever you choose can

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back up the claim and has the financial

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strength to do that. But that's how you

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set it up. You don't set it up through

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me. I can help you run comparison

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quotes. I can help you with maybe

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reviewing what they send you to make

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sure it's good. I can help you by just

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working with my friends at the American

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Council on Gift Annuities to make sure

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that they that's like that the voice

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from God, the American Council on Gift

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Annuities to just make sure that they

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have the claims paying ability to do it.

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But now you've learned something. Yes,

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there are four types of annuities that I

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can quote for you and I can offer to

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you.

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SPD is QAX income writers, but there's

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another one, charitable gift annuities

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that might fit as well because you might

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have that philanthropist thing going on.

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You might want to give money away yet

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still get the income and still get the

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income floor you need. I encourage you

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to go to my site, schedule a call with

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me. If this tweaked an interest, we can

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talk about it. Shoot me an email. If you

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don't want to do that,

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stantheanuityman.com.

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Um, you know, choose us if you want to

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look for annuities. I have the best

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staff in the business. Um, and again,

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we're open 12 hours a day, Monday

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through Friday, and and eight hours on

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Saturday. One last thing, spinning clock

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above my head. I did a fun video on

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attention annuity haters, you already

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own an annuity.

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I'm amazed.

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I'm amazed that sometimes financial

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journalists will I mean really good ones

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like ones I know and I'll have to send

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them an email and go you might want to

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come off of that one. They'll say never

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buy an always be in the markets like

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okay um are you saying don't take your

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pension and don't take your social

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security. Is that what you're saying?

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Because I don't think that's what you're

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saying because that's what you said and

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you put it in print. But that's the kind

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of misinformation that's out there. you

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know, um it's not as bad as COVID

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misinformation, don't get me wrong, but

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it's pretty bad with annuities. Also,

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too, be careful with AI and Grock and

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all that. You know, when you pull up

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things on on using AI with annuities,

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remember, they're scraping from good and

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bad sources. So, I'm okay with you doing

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that. Run it past me. We found some

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horrific things. Um, but American

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Council of Gift Annuities, look that one

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up. And I guess I'll see you next time.

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My name is Stan the annuity man.