Single Premium Immediate Annuities - The Annuity Man Live Event

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Heat. Heat.

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Hi there. I'm Stan the Annuity Man,

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America's annuity agent. And and yes, I

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am licensed in all 50 states. We are

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based in Las Vegas, Nevada. We take no

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risk. Everyone around us does. Glad

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you're here. We're talking about single

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premium immediate annuities. The

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grandfather of all annuities starting in

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the Roman times of all places. Um

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annuities. The word annua is what they

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were using back then. That means

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payment, the financial archaeologists

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tell me. And that's where the word

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annuity comes from. We're going to get

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into the depths of SPIA's single premium

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immediate annuities. Load those

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questions up. I'll take them one at a

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time. I will read the questions. Then I

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will answer them in only the way that

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Stan the Annuity Man can. America's

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annuity agent. Couple things before we

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get started. Number one, everyone says,

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"Stan, how do I get these hats? I love

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this hat." Well,

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your answer is here. This light blue

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baby here. And the reason the light blue

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one, I'm choosing that one. I'm from

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North Carolina, North Kakalaki, as they

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say. So, this is kind of Carolina blue.

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My apologies to any Duke fans out there.

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But, um, [clears throat] if you're a

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client, um, out there watching this and

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you want one of these, just email us at

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stantheanuityman.com.

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We'll send you one. And the way to get

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one, if you're not a client, is to

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become a client. So, that's the first

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thing. Secondly, I've written a few

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books. You know, I'm 61 years old, been

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married for 37 years, have 29 and 27

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year old daughters, which means I don't

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have a life. So, because of that, I eat,

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breathe, sleep annuities.

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There's more than one. Written a book

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called the Annuity Stanesto that you can

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get on Amazon or if you're really nice

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to us, we'll send you a copy, hard copy.

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Um, and then you can also download my

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owner's manuals. Yes, I've written

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owners manuals on all product types,

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indexed annuities,

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income writers, attached index

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annuities,

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deferred income annuities,

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QAX,

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MAS,

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and then what we're talking about today,

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single premium immediate annuities. So,

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you can go to my site at

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theanuityman.com. You can download those

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for free and you can read them. You

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know, we're in the edutainment business.

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Uh we're here to educate. We're not sure

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an annuity is right for you, but we're

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going to find that out when you schedule

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a call and we talk to you. Just

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remember, we're getting ready to start

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on SPS. We're not hammers looking for

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nails here. You're going to buy the

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annuities. They're not sold here. We do

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sell them once you tell us you want to

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buy. So, we're a unique cat in this

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world of high pressure selling. There is

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no high pressure. There is no urgency to

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buy an annuity. The urgency is kind of

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what you're doing right now, which is

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understanding what they are. So, I'm

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going to give just a brief history

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overview on immediate annuities and then

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you're going to ask questions and then

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I'm going to as savily as they say,

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answer them and then we're going to go

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back and forth. Okay. Immediate

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annuities, single premium immediate

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annuities. You already own one. It's

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called Social Security. It's the best

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inflation annuity on the planet. Okay,

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so you already own one. So don't say, "I

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had all annuities, Dan. I hate them. I

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hate them." The other misconception

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about single premium immediate

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annuities. Hey Stan, I'd never buy that

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because when I die, money goes poof and

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I don't want to give the money to the

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insurance company. That's one of over 40

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ways to contractually structure it. what

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you're talking about and what too many

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people believe is only the choice is

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it's life only which means when your

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leerjet hits the mountain yes money goes

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poof but 99% of our clients choose life

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with cash refund or life with

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installment refund or life with a period

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certain we will explain that during this

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wonderful broadcast that um my man Zeke

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Zeke the marketing freak is behind the

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camera um one of these days we're going

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to flip it and we're going to show Zeke

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um he's doing he's doing good But one

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before we get started, I do want to

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mention one thing. We do have a a uh

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member of our team in studio with us

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today. I'm just going to give the the

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initials that we call her DJ. I am proud

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I'm going to tell you right now, I might

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get emotional. I'm proud to announce

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that starting in January, the annuity

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man is going to have a Spanish division

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that speaks Spanish. Kasa in your

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annuity casa, my friends. Okay, we are

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staffed up. We're ready. We've done the

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research and DJ is going to lead this

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and we're going to we're going to offer

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contractual guarantees and the way that

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we do it to the Spanish-speaking

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community. We're going to put our arms

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around them and we're going to do the

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right thing just like we do the right

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thing with everybody. I'm so so excited

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for that. So, in January, look for that

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link that you can schedule a call in

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Spanish. We'll do the applications in

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Spanish. I don't speak Spanish. You just

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heard all I can do kasa in-law annuity

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casa. That's all I got for you. But I

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have hired the best to do that. So with

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that, let's talk about, you know, I said

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it. The annuities, these annuities,

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single premium immediate annuities were

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started in the Roman times. They've

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actually been sold in this country, the

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United States for I'd say around 300

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years that we can go back and look at.

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If you go back into like the British

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side, old, you know, they were called

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tanteens. tonines. Um, and my friend

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Mosh Malefki has written some books on

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that. Um, that's very interesting. The

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bottom line is these pension type

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products have been in place. They are

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not investments. They're transfer of

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risk, non-correlated assets, meaning

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they're not attached to the market.

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You're transferring the risk. The

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primary pricing mechanism is your life

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expecties or if joint life expect life

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expectancy if it's single life, life

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expecties if it's joint life. And what

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does that mean? It's going to pay as

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long as you are breathing. Okay, it's a

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transfer risk. So, there's no ROI until

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you die. What's a what's the ROI on that

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stand? I look at my ROI, my funds, my

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ETFs, my Bitcoin, all that. I don't know

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that player until you die. Okay, and

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death is not a good strategy because you

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can only use it once. Okay, so single

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premium immediate annuities can be

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structured and customized and you can

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run quotes at our site 247 365 for free.

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We're going to go through one later in

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the in the broadcast and walk you

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through that, but you can check these

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quotes all day long and and you can

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check them monthly, whatever. Now, let's

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talk about the pricing of immediate

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annuities. The pricing primarily is

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based on your life expectancy or life

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expecties at the time you take the

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payment. The older you are, the higher

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the payment. Sound eerily familiar?

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Social Security, older you are, the

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higher the payment. Why? because your

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life expectancy is projected to be less,

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which means there's less payments

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projected to be paid, which means those

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payments are higher. The reverse is

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true. The younger you are, the lower the

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payments because there's more life

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expectancy, so there's more payments, so

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they'll be lower. There's no magic to

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it. Well, what about interest rates,

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Dan? What about the Fed? In the annuity

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world, we glance at the Fed. We like

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like here's the Fed. We just go. Now,

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banks go, they just look straight at it.

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Why? Because interest rates pay played

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about a 20% pricing role on all of this.

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So, if you're think, well, I'm trying to

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time it stand. I'm waiting on the Fed.

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I'm the Fed.

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It doesn't matter. Okay? It plays a

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minor pricing role. Let me tell you

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another pricing role. Annuity companies

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have trenches of age ranges. Meaning

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that if you're 60 to 65, I'm just making

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this up, but they do have trunches. It

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could be shorter. It could be 60- 62, 62

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to 65, whatever. And they're trying to

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fill those tanches with customers that

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buy immediate annuities because

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remember, life insurance companies issue

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annuities. And the reason they have the

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big buildings, they know when we're

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going to die. Hello. Like property and

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casually don't have big buildings and

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they're always changing buildings and

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they're small buildings because they

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don't know when the hurricane's going to

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hit. So, the reason that I point that

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out is immediate annuities along with

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every other annuity type is a commodity

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product. There's not one that's better

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than the other. The quotes last for

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about 7 to 10 days unless you lock them

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in. We can do that for you. But think of

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it like a gallon of milk. It's going to

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spoil. We got to requote it. I had a

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call the other day go, I ran a quote on

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your site about two months ago, Stan. I

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really like that quote. Lock that baby

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in for me. I'm like, player, we can't do

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that because it's it's like a gallon of

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milk. Okay. So, the reason I brought up

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we quote all carriers, some carriers

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need to fill that trunch with your age

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range. So, they're going to have a high

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quote, you know, contractual to attract

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you. Once they fill that trunch, they're

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going to lower that quote to not attract

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you, but someone else is going to want

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to attract you. For lifetime income, we

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only look at A+ or better. Hello. A+ or

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better for lifetime income. You can say

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A+ or better, you don't need a sweater.

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follow me? But the point is, we want

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them to be able to back up the claim.

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So, we're not bottom fishing. These are

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real companies. And companies that issue

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immediate annuity, single premium

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immediate annuities, they have to have a

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massive, massive reserve requirement to

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do that. That's the reason a lot of

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these companies that are out there

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slinging index annuities, nothing

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against them, you know, we sell them

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with the writers, but a lot of them that

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just do that and don't offer immediate

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annuities is they don't have the reserve

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requirements to do that or they just

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choose not to do that. But in most

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cases, it's because of the reserve

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requirement. A couple other things.

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Let's talk about immediate annuities.

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Think of that as ripping the knob off a

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water faucet. It's an irrevocable

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contract. That's okay if you understand

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that. We can structure it so it's going

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to pay for your life or both lives as

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long as one of you is breathing. We can

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also structure what I call a backs stop.

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Think of your little league days. So

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that if your Lejet hits the mountain, if

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your Ferrari hits the tree, okay, then

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100% of any unused money will go to your

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beneficiaries. We can line we can set it

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up like like that contractually. All

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right? So So get it out of your head

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that when you die, money goes poof. If

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you wanted to do, if you hate your

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beneficiaries, you want life only and

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the highest payment, fine. But most

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people who work really hard for their

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money, they want to make sure that

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they're going to get paid for life, but

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whatever's left over when and if they

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die goes to the beneficiary and the evil

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annuity company doesn't keep a penny.

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All right? So, we can structure that

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that if I accomplish one thing today,

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it's that is that we can structure it so

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you get lifetime income and

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the annuity company's not going to keep

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the money. Okay, let's see if I missed

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anything. Let's talk about colas and

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inflation real quick. Then we're going

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to do questions and this thing's going

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to get fun fun fun.

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Stan, we're worried about inflation.

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Inflation is really worrying me. So, the

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first thing you already own the best

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inflation annuity on the planet called

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Social Security because politicians

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aren't actuaries. They give things away

11:53
to get votes. So, they're always going

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to raise that because that's a voting

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block and they're not going to make the

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voting block mad. Can we get an amen on

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that one? Okay. But with with single

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premium immediate annuities,

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anytime you attach what's called an

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increase uh a cost of living increase,

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that acronym is COLA. Cost of living

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adjustment is what they call it. It's

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not coli, Zeke. It's cola. Okay. Zeke's

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like, "Stan, no, it's cola." Um, there

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used to be something called a CPI

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increase, which was consumer price

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index. And you're like, "Stan, that

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sounds good. let's do that. They don't

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offer them anymore. They, meaning the

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annuity companies, that's not been

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around for a long time. But if you

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wanted to do a cost of living adjustment

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increase because you want to see things

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increase, just understand the annuity

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companies don't give that away. Okay,

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let's do a visual. Okay, let's do a

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visual. If you bought an immediate

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annuity without a COLA increase, it

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starts here. If you bought one with a

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COLA increase, it starts here. They're

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not giving it away. It sounds good. You

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just have to run the math to make sure

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it makes sense for you. And maybe you

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buy one or two or three immediate

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annuities and one of them has a cola.

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And typically the most popular increase

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is 3%. Don't hit me with five and six

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and seven. Come on, be rational out

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there. Um,

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most carriers are going to quote that 3%

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cola. Do we recommend that? Not really,

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because we think the static payment is

13:22
better. And then when you need to fill

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in the gap of your income floor, like

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just let's say your income floor is

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$5,000. In five years from now, it's now

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you need another $400.

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You know, you got social security

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dividends, you got an annuity, you got a

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pension, you got rental houses, whatever

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you have, but you have that $400 gap.

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What we're going to encourage you to do

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is at that time you need to fill the gap

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is you can go on our site and run a

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reverse engineer quote. meaning that

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let's solve for the $400 a month and

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let's find out the best carrier A+ or

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better that's going to require the least

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amount of money to contractually solve

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for that $400.

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Follow me? You can't throw a dart at

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inflation. Uh and inflation is personal

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to you. You everyone's income floor is

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different. But everyone's going to tell

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you they have the product that has an

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inflation increase. They're full of

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crappola. Okay. You can you can uh I

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don't know where's that from, Zeke. Is

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that Italian? I think it's Italian

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cropola. The point is if it sounds too

14:20
good to be true, it is every single

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time. Anytime that you're wanting

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something additional from an annuity

14:26
company or annuity contract, and we only

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sell a contractual guarantees, you own

14:30
annuity for what it will do, not what it

14:31
might do. But anytime you attach that,

14:34
the annuity company doesn't give it

14:35
away. There's no philanthropists at

14:37
annuity companies. They're flatout

14:38
capitalists. Trust me, I know them. So,

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you just have to put that in the back of

14:42
your mind. So, let's get to questions.

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Zeke. Zeke, are we ready?

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DJ's in the house. Unfortunately, it's

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not going to be in Spanish this time,

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but I'm telling you down the road it

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will be. I don't know how I'm going to

14:53
do that. Zeke, I don't have a good

14:55
accent. So, we'll see. All right. So,

14:57
let's let's do the let's do the

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questions real quick. I'm going to read

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them. Not going to give the name away

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because sometimes people have like some

15:04
Cheerio Joe or something like that. I'm

15:05
not going to do that. Um, I manage the

15:07
majority of my portfolio through

15:09
Fidelity due to the breadth of their

15:11
offerings and education. Love Fidelity.

15:13
Love Vanguard. Love Swab. Love them all.

15:15
If I purchase an annuity through your

15:16
company, am I able to link it to

15:18
Fidelity? The answer is no. Now, what

15:20
I'm going to tell you, and you're going

15:21
to sit down because you're not going to

15:22
be believe what I'm getting ready to

15:23
tell. We represent every single company

15:26
out there pretty much. Okay? So, when we

15:28
quote all carriers, I really mean it.

15:31
But I if you want to stay at Fidelity,

15:33
have Fidelity quote exactly what we're

15:35
quoting, apples to apples, and then

15:36
choose the highest contractual

15:37
guarantee.

15:39
Always choose the highest contractual

15:41
guarantee. And you're saying, "Wait a

15:42
minute, Stan. Don't you want to sell me

15:43
or something?" Uh, I want you to own the

15:46
best contractual guarantee. Hopefully,

15:48
and typically we have the highest. We're

15:51
offering the highest because we're

15:52
quoting all carriers, but there might be

15:54
some under the table deal with Fidelity

15:56
and somebody else that just for a moment

15:58
in time you can get a better deal. Quote

15:59
them. We, you know, competition is good.

16:02
All we want to know when you when you

16:05
talk with us, you schedule a call. First

16:07
of all, that that consultation is free

16:09
with my annuity experts. They all talk

16:11
and sound like me, but they just talk

16:13
slower. Um, you know what we want to

16:16
know is what are you trying to solve

16:17
for? There's only two questions we're

16:19
going to ask you. What do you want the

16:20
money to contractually do? And when do

16:23
you want those contractual guarantees to

16:24
start? Annuities solve for four things.

16:26
Principal protection, income for life,

16:28
legacy, and long-term care. That acronym

16:30
is PIL. What we're talking about today

16:32
is I, income for life. That's single

16:35
premium immediate annuities. And you can

16:37
start that income as soon as 30 days

16:39
from the policy being issued up to one

16:42
year with single premium immediate

16:44
annuities. So if you answered the first

16:47
question, hey, what do you want the

16:48
money to do, Stan? We need lifetime

16:50
income. Okay. When do you want the the

16:52
that those contractual guarantees to

16:54
start? We need them to start in 30 days,

16:56
three months, four months, up to a year.

16:58
Then we're only talking about a single

17:01
premium immediate annuity. do not allow

17:03
anyone to put the square peg into the

17:04
round hole to sell you something with a

17:06
high commission. Let's talk about

17:08
commissions real quick. Commissions are

17:10
built in to the policy, which means

17:13
they're pay the carrier's paying it from

17:14
their reserves, their heat, light, and

17:16
water bill reserve account. So, you're

17:18
going to if you put $100,000, you see

17:20
$100,000 go to work for you. Okay? Yes,

17:22
we get paid by the carrier. It's a very

17:24
small fee. Remember, the more simple the

17:27
product, the lower the built-in

17:29
commission. The more complex the

17:30
product, the higher the commission. And

17:31
that's the reason you hear about high

17:33
commission products all the time. This

17:35
is a proconsumer product. You can

17:37
explain it to a 9-year-old. No offense

17:39
to nine-year-olds. Next question.

17:44
Zeke, where are you, Zeke?

17:46
How can I max out my mortality credits?

17:49
That's the question. Good question.

17:51
Mortality credits in the stand the

17:53
annuity man easy to understand speak is

17:57
pooling of risk. That's that's what

17:59
mortality credits means. So, um I'm not

18:03
sure there's a way to maximize mortality

18:05
credits other than to shop all carriers

18:08
for your specific parameters that you're

18:10
quoting. Um and again, we're going to

18:12
need, you know, date of birth or dates

18:14
of birth as if it's joint life. But I

18:17
know what you're trying to do. You're

18:18
trying to thread the needle, beat the

18:20
annuity company, be smarter than the

18:22
annuity company. I'm going to encourage

18:24
you not to do that because you can't.

18:26
You just can't. You can nail jello- to a

18:28
wall easier than you can do that. I know

18:30
you're thinking, "Yeah, I can stand."

18:32
Okay, try it. But you can use our quote

18:34
system to at least look at all of those

18:37
quote parameters to see what makes

18:39
sense. Okay, just understand you the

18:42
bell didn't ring at the top or the

18:43
bottom. You're never going to be able to

18:44
time it perfectly. When you run the

18:46
quotes and it looks like a the the

18:48
number look the contractual number looks

18:51
like that's going to fit your income

18:52
floor, then lock it in. You're just not

18:54
going to time it. Okay,

18:57
next one. Let's see what we got. What

18:59
are the top? I I think he's clicking it.

19:01
Zeke, you can just choose him randomly.

19:03
I trust you. You can just put them up

19:04
there. Zeke's been around. I'm telling

19:06
you, man. He's from Hawaii, but he's

19:09
chill. He's chill like a Hawaiian should

19:11
be, but he's got this long beard. We're

19:12
not sure what's going on. [snorts] What

19:14
are the five top rated A++ preferred

19:17
companies that sell spas? I'm going to I

19:21
typically don't mention carriers on this

19:23
one, [laughter]

19:25
but you know, let's just let's let me

19:27
just because I don't want to give them

19:29
the publicity and they're not paying me

19:30
to publicize even though we represent

19:32
them. Typically, what we see in the

19:34
double A+ world are the New York Life,

19:36
the Guardians, Mass Mutuals, etc. Okay,

19:39
those are the the gorillas in the room

19:41
that are very very competitive. We we we

19:44
love our relationships with them, but

19:46
we're not um there's no favorites here.

19:48
Our favorite is the highest contractual

19:50
guaranteed number A+ or in your case A++

19:54
or better, you know. So if you see XYZ

19:58
company above over ABC company, we don't

20:01
care. We we if it fits the the whoever's

20:05
got the highest contractual guarantee

20:07
with the rating A+ or better, that's who

20:09
we're going to tell you to do. Now, one

20:11
caveat to that, what sets the annuity

20:14
man apart, other than a ton of things, u

20:17
me of course, is that we do look and we

20:19
have an internal scoring system on how

20:22
those carriers um do the paperwork, how

20:26
quickly they turn it around. I know to

20:28
the day how long it takes from start to

20:30
finish to do an annuity transaction.

20:33
Understand if you did run a quote and

20:34
you did want to buy an immediate

20:36
annuity, we're going to lock that quote

20:38
in. We're going to lock those

20:39
contractual guaranteed numbers in and

20:41
then we're going to take care of

20:42
everything. Money transfers, whatever

20:44
you decide to do. If it's within an IRA

20:47
or Roth IRA or non-qualified nonirra,

20:49
we're going to take care of everything

20:50
from start to finish. You just have to

20:53
be on an initial call with our policy

20:56
delivery and applications team. That's

20:57
all they do and and they're going to

20:59
take it take your application and then

21:02
all from there you just have to be on

21:04
the receiving end of emails and they

21:06
will keep you updated and then at the

21:08
end of the process policy is delivered

21:10
to us. We check it for accuracy then we

21:12
FedEx it to you. By the way, there's

21:15
there's also like a typically with most

21:16
states around a 30-day free look time

21:18
period as well. Um so if something

21:21
changes you can actually free look and

21:22
get your money back. You know, the

21:24
annuity industry gets a bad rap

21:26
primarily because how most annuities are

21:28
sold. We pride ourselves as this is

21:31
where annuities are purchased on your

21:33
terms and your time frame. So, um, just

21:37
keep that in mind. Next question, Zeke.

21:38
Click it. Can I offset RMDs by

21:42
purchasing a SPIA within an IRA? How

21:45
does that work? Very good question. You

21:47
can do that. Um, let's just say you have

21:51
a $500,000 IRA and you decide to buy.

21:54
Um, and this covers another question I

21:56
was getting ready to get to. People say,

21:57
"Well, never buy an annuity inside of an

22:00
IRA, Stan." About 90% of all annuities

22:03
are purchased with IRA assets because

22:04
that's where most assets are. It doesn't

22:06
matter because you're buying the

22:08
contractual guarantee. It doesn't matter

22:10
that it's it's a tax deferred um asset

22:13
because you're taking income out. But to

22:15
answer the question, that income stream

22:18
coming from the immediate annuity inside

22:19
of the IRA will fully satisfy that RMD

22:23
for that dollar amount in the immediate

22:26
annuity. And new for this year, the any

22:29
overage from that, that's that's the

22:31
symbol for overage. [laughter]

22:33
Any overage can cover non-anuity assets.

22:36
That's new, but the answer is yes across

22:39
the board.

22:40
Next question, Zeke. How does opening

22:43
and lifetime annuity within an IRA

22:45
interfere with RMDs? I think we just

22:48
answered that best not to do this. No,

22:51
actually it it makes sense to do this.

22:53
You want to put your RMDs on a turnkey,

22:56
buy an immediate annuity only if you

22:58
need lifetime income, right? But if you

23:00
need lifetime income, it makes sense

23:01
because it covers the required minimum

23:03
distributions aka RMDs for that asset

23:07
and it also now covers the overage as

23:09
well. IRS loves it because it's

23:12
systematic payments. They love it. Okay?

23:15
They bless it. In fact, IRS and the

23:18
Department of the Treasury came up with

23:20
QAX, which is nothing more than an

23:21
immediate annuity that you can defer

23:23
longer inside of an IRA. So, all that

23:26
stuff about never buy an inside of an

23:28
IRA, that's garbage. That's French, by

23:31
the way. I've done Italian and French so

23:32
you can I mean, that's pretty good.

23:34
That's garbage right there. And that's

23:36
just people not knowing what they're

23:38
talking about and they need to be quiet

23:39
at the cocktail party because they're

23:41
going to get embarrassed, right? Okay,

23:43
here we go.

23:45
Low income write low income writers are

23:47
different than colas or is that the same

23:50
thing? Can they be backed into baked

23:52
baked not backed Zeke baked into a SPIA

23:55
contractual guarantees for annual two to

23:57
4% increase? Okay, now I know what's

24:00
trying to be sold to you. Um what you're

24:03
referring to is what's called income

24:04
writers. Yes, I've written a book on

24:05
that. Yes, you can get quotes on that on

24:07
my site. But one of the biggest sales

24:09
pitch at the bad chicken dinner seminar,

24:11
um I guess expensive steak dinner

24:13
seminar now is that my income writer

24:16
increases with inflation. When the index

24:18
goes up, that goes up as well. Remember

24:20
this. Remember the visual. That's

24:22
important.

24:25
If anyone's talking about an increase,

24:27
the annuity company's not giving that

24:29
away. It's going to take a long long

24:31
long long time for you to make it up

24:34
regardless of those back tested

24:36
I'm albeit fraudulent. Can I say that

24:39
Zeke? I don't think I can say that. So

24:40
strike that. Those back tested numbers

24:43
you said that look too good to be true

24:44
because they are. Okay. Remember with

24:48
immediate annuities there are no

24:50
writers. You can attach a cost of living

24:53
adjustment. I guess you can call that a

24:55
writer. Cost of living adjustment

24:56
increase. No fees for that. By the way,

24:58
immediate annuities have no fees.

25:00
They're a straight transfer risk

25:02
product. And once again, remember the

25:04
built-in commissions paid from the

25:06
reserves. It's a net transaction to you.

25:08
But what you're mixing up here,

25:10
unfortunately, is someone trying to jam

25:12
an index annuity with an income writer

25:14
down your throat. Is that a bad thing?

25:16
Only if they're talking what they're

25:18
talking now about potential increases in

25:21
the possible index returns and in that's

25:23
nonsense. You own an annuity for what it

25:26
will do, not what it might do. You own

25:27
it for the contractual guarantees

25:28
period. Why? Because it's a contract

25:30
between you and the life insurance

25:31
company. So base your decision on that.

25:33
Don't base it on Johnny Apple Seed agent

25:35
pie in the sky nonsense that never comes

25:38
true. Okay? So when remember the

25:42
question, remember the question, what do

25:44
you want the money to contractually do?

25:45
Income. When do you want those

25:47
contractual guarantees to start?

25:49
Immediately within one year. That pretty

25:51
much eliminates index annuities index

25:54
annuities with income writers unless you

25:56
want to buy your agent a car. Okay? So

26:00
don't confuse it and don't look for the

26:02
product that sounds too good to be true.

26:04
Don't think that you're beating your

26:06
neighbor because I'm pretty smart. I

26:08
think I figured this out. No. Listen,

26:11
if there was such a product that you

26:13
described that existed, that's all

26:17
Goldman Sachs would buy. That's all JP

26:19
Morgan would buy. Last time I checked

26:21
with my friends there, they're not

26:22
buying that because it's not

26:25
contractual.

26:27
Buy the contractual guarantees.

26:29
Question. Can you please elaborate Stan

26:32
the annuity man on your form of SPIA

26:34
that has life with cash refund?

26:36
Specifically, how is how is unused money

26:39
determined at death of the primary

26:41
annuitant? IRS rules. I'm not going to

26:44
give IRS rules because I'm just not

26:46
going to promote those guys. uh or

26:48
insurance. Let's just talk about life

26:49
with cash refund. So, it's single life.

26:51
We'll do single and joint. Single life

26:54
with cash refund means that as long as

26:55
you're breathing, it's going to pay.

26:58
Okay. Now, also remember with immediate

27:00
annuities, the payment is a combination

27:04
of return of principal plus interest.

27:06
Okay? So, as you are getting the

27:08
payments, let's call this the lump sum.

27:12
Okay? Those payments are going to

27:14
decrease that lump sum over time. So if

27:16
you outlive your life expectancy,

27:19
there's a good possibility that there is

27:22
no I mean it's going to happen. Zeke, if

27:24
they outlive their life expectancy,

27:25
there's going to be zero in the account.

27:26
See, what happens when there's zero in

27:28
the account? Well, when there's zero in

27:29
the account, the annuity company's still

27:31
on the hook to pay. Why? Because there's

27:32
no ROI until you die.

27:35
All right? But let's just say your LJ

27:37
hits the mountain early 5 years into the

27:40
contract and it's a cash refund. So it's

27:41
life with cash refund. Whatever's left

27:44
from this amount that remember that's

27:45
lump sum that's a that's a sign that's

27:47
power that's lump sum power lump sum

27:50
zeke that's powerful lump sum okay uh

27:53
whatever's left here that's minus the

27:55
ded deductions that's the cash refund

27:57
that goes lump sum to the list of

28:00
beneficiaries of the policy you could

28:01
also do what's called installment refund

28:03
that's for if you want to lovingly

28:05
handcuff your beneficiaries like I do

28:07
with mine my 29 and 27 year old

28:09
daughters I don't want them to buy the

28:11
Ferrari with cash on the way to the

28:13
funeral. I want to be making payments.

28:15
Hello. Do you have that? So, what that

28:18
means is same thing. Here's power to the

28:20
people, right? Um, this is this is

28:23
installment refund. So, you die and

28:26
there's money left over. Then your

28:28
beneficiaries are going to get that same

28:30
exact payment until this is exhausted.

28:34
So, they're going to get that same exact

28:36
payment until there's zero there. That's

28:38
installment refund. Both cash refund and

28:41
installment refund means that the evil

28:43
annuity company's not going to keep a

28:45
penny even though they're contractually

28:47
on the hook to pay for the rest of your

28:50
life because you've created a personal

28:52
pension. You've created your own social

28:55
security minus the uh inflation

28:57
increase. Okay.

29:00
Can you compare SPIA with cash balance

29:04
versus a fixed index annuity? Yes. Yes.

29:07
Let's do this in long-term care. First

29:09
of all, let me just cover that. I'm

29:11
coming out of my seat. DJ, I'm going to

29:12
be okay. She's over there. Calm down,

29:14
Stan. She said in Spanish, though,

29:15
because we're doing the Spanish

29:16
division. First of all, anyone that says

29:18
to you that they have a index with an

29:21
income writer that has long-term care,

29:23
they're either stupid or a sociopath,

29:25
okay? Because there is no long-term care

29:28
on an index annuity with a writer.

29:30
Long-term care is a health insurance

29:32
product. In annuities are life insurance

29:35
products. So, when they're talking about

29:36
long-term care, I got long-term care on

29:38
this. No, you don't, Johnny. Apples Seed

29:40
agent, that's called a confinement care

29:42
benefit. I've put it, of course, into

29:44
the stand the annuity man lexicon. All

29:45
that means is when you get sicker, you

29:48
get your money back quicker. No big deal

29:50
there, player. It's not that big of a

29:52
deal. But let's let's talk about

29:54
immediate annuities versus index

29:57
annuities with income writers. Income

29:59
writers are the contractual guaranteed

30:02
income amount that's on top of an index

30:05
annuity that has a lifetime in that has

30:07
a fee for the life of the policy. Not

30:09
saying they're bad. If you answer the

30:10
questions, I need lifetime income and I

30:12
need it to start in three years, four

30:14
years, 5 years, seven years, 10 years,

30:16
whatever, then we're going to quote

30:17
income writers. We're going to

30:18
completely ignore the index side because

30:20
we have to because it just at this point

30:24
it's not worth looking at. Just trust me

30:26
on that. anyone out there going, "Let's

30:28
look at the caps and the spreads of the

30:30
participation rates, sir. They're full

30:32
of crapola." Once again, Zeke, I did the

30:34
Italian thing there. I mean, they just

30:36
don't know what they're talking about.

30:37
And you can get my index annuity owners

30:39
manual and say, "Yeah, it stands right."

30:42
When we do an index annuity with the

30:43
income writer, we draw line down the

30:45
middle of the page. Here's the index

30:46
annuity side. We don't look there. Zeke,

30:48
don't look there. Okay? We only look at

30:51
the income writer. That's the

30:52
contractual guarantee. So, when you're

30:54
comparing the income writer to the

30:56
immediate annuity and you say, "Stan, I

30:58
really, you know, I'm thinking I'm going

30:59
to start it in a year, one year." Okay,

31:02
we're Okay, great. We'll run the

31:05
immediate annuity. We'll run the income

31:07
writer and see who's going to finish

31:09
first. 99.9% of the time it'll be in the

31:12
single premium immediate annuity. Now,

31:14
the only benefit to possibly looking at

31:17
an index and with an income writer is

31:19
not market growth with it's not market

31:22
growth. There is no market growth. God,

31:25
let me I'm I'm digressing here, Zeke. My

31:27
apologies, DJ. My apologies. Index news

31:30
were put on the planet in 1995 to

31:31
compete with CDs. That's what they do.

31:33
It's not market upside with no downside.

31:35
It's not market participation with

31:37
principal protection. Hello. If it

31:39
sounds too good to be true, it is. I've

31:41
got a pill. If you take it, you'll get

31:42
six-pack abs.

31:45
Right? I mean, thinking cap, the only

31:49
positive is you do control the asset

31:51
with the index duity with the income

31:52
writer. If that's important to you,

31:53
fine. We'll we'll do that. But if you're

31:56
trying to lock in a pension, not pay any

31:59
fees and get an efficient

32:02
pension payment for the rest of your

32:04
life or you you and your spouse,

32:05
whatever. SPAS are the best product on

32:08
the planet. And if you say, "Stan, I

32:10
only want to do a a double plus paper."

32:13
Then speed is your only choice. Okay,

32:16
next. Zeke, hit me, Zeke. Does the

32:19
product pay interest?

32:21
Again, let's Good question. I like the

32:23
question. Here we go. Immediate

32:25
annuities, it's combination of return of

32:27
principal plus interest. When you see

32:29
the quote, we're going to segment that

32:32
out. Especially in a nonIRRA quote,

32:34
you'll see it segmented out. If it's an

32:35
IRA quote, we can segment it out for

32:37
you. But the principal

32:40
is going to be returned to you plus the

32:42
interest rate. You'll see that. I'm not

32:44
going to quote that interest rate here

32:46
because this is a timeless evergreen

32:47
video. That'll be seen hundreds of

32:49
thousands of times five years from now.

32:51
And I want it to have legs. That's the

32:53
reason you need to go to our site, run

32:54
the quote or or speak with our people,

32:56
etc. But um the interest it's it's

33:00
combination return of principal plus

33:01
interest. But let's go a little bit

33:03
further with that. Let's just say you

33:04
use nonirra money. You're getting you're

33:06
getting your your principal pla back

33:09
plus interest. You're only paying taxes

33:11
on the interest part of it,

33:14
not the principal part. Nonirra,

33:16
nonirra, nonirra, nonirra, I'm talking

33:19
about here, IRA, everything's taxable.

33:21
Nonirra. So, you're only paying taxes on

33:24
the interest and then you outlive your

33:26
life expectancy. You've taken the

33:27
miracle vitamin that's being sold on

33:30
cable news and you've taken that and you

33:33
feel great and the account is now at

33:35
zero, but you're still getting payments.

33:37
Instead of just paying taxes on just the

33:40
interest, now you're paying taxes on

33:42
everything once it gets to zero. But

33:43
that's okay because you're old. You're

33:45
living a great lifestyle chapter 2 and

33:47
you've transferred the risk to the

33:48
annuity company to pay as long as you

33:50
are [sighs]

33:51
breathing, right? No ROI until you die.

33:55
But that's how it works. But within our

33:57
quotes, you'll see that segmented out

33:59
and you can talk to our client solutions

34:01
team when you when you schedule a free

34:04
consultation where they're going to use

34:06
their ears and their mouth and

34:07
proportion two to one. They're going to

34:09
listen to you. We're not we're not

34:11
hammers looking for nails. Okay? We're

34:12
going to listen to you and we're

34:13
actually going to tell you if we don't

34:14
if we if we consider the fact that

34:18
annuities don't fit. We'll tell you.

34:20
Okay. Next one. Life expectancy versus

34:23
interest rates at the time of purchase.

34:25
How do these come into play? Good

34:27
question. Life expectancy with a with a

34:30
single premium immediate annuities.

34:33
Shameless plug. Um the pricing is

34:37
primarily based on your life expectancy

34:40
or if joint life expecties

34:44
at the time you start the payment. The

34:45
older you are, the higher the payment.

34:48
Okay. Now, if you're um you know, if

34:51
you're um I'm trying to make up a If

34:53
you're Zeke, if you're Zeke and you

34:56
married a someone that's 20 years

34:58
younger than than you and it's joint

35:00
life, the annuity company's literally

35:03
going to ignore you and look straight at

35:04
that younger person and base it off

35:06
their life expectancy, even though it's

35:08
joint life. Does that mean you need to

35:10
split the purchase up? Maybe. But I'm

35:12
just telling you how it plays. Interest

35:14
rates play a secondary pricing role.

35:17
We're saying anywhere 20%ish

35:19
pricing roll. Remember the Fed's over

35:21
here. The banks stare at the Fed. Okay,

35:24
here we go. The Fed's over here. What do

35:26
in what do annuity companies do? Glance

35:28
at them. Why? Because annuity companies

35:32
are pricing. They got four or five

35:33
pricing levers for immediate annuities.

35:35
They have life expectancy. You know

35:37
that. They've got interest rates. That's

35:39
part of it. They've got these trenches I

35:41
talked to you about that they're trying

35:42
to fill. So, that's competitive for you

35:45
from the stand quoting all carriers.

35:46
That's the reason they're commodity

35:47
products. Then they have their, you

35:49
know, their bond portfolios and they

35:50
they they make money off their life

35:52
insurance whenever they sell life

35:53
insurance. So they got fiveish or more

35:57
levers to price off of. Whereas a bank

35:59
has the Fed annuities glance at the Fed

36:03
because there's so many things in play.

36:05
That's the re from a pricing standpoint.

36:07
But life expectancy drives the train.

36:11
Hit me, Zeke.

36:13
I retired at the end of last year and

36:14
purchased a SPIA from you. Had a good

36:17
experience. See, that's it, man. We're

36:19
not perfect. Can we Can we Zeke? Can we

36:22
say that? DJ, can we say that? We're not

36:23
perfect, but we strive to be perfect.

36:26
Um, and I appreciate that comment. Going

36:28
forward is a good strategy to take some

36:30
of the gains from my IRA, convert it to

36:32
guaranteed income. So, let's talk about

36:34
this.

36:36
It is if you need income.

36:39
It is if you want to set up a pension

36:42
for your spouse that put up with you for

36:44
all these years. You know, the lovely my

36:47
lovely wife, should I mention her name?

36:49
I shouldn't mention her name. She's been

36:50
with me for 37 years. Everything we're

36:53
setting up is for her. You know, forget

36:55
me. She's going to get the life

36:56
expectancy to go see the grandkids and

36:58
buy the shoes. By the way, she's got

36:59
some shoe game is what I'm talking

37:01
about. But the key is here. Do you need

37:04
lifetime income? It doesn't make sense

37:06
if you don't. If you don't need lifetime

37:08
income, you could peel it off to

37:09
something else. Didn't have to be an

37:10
annuity. If you said, "Stan, Stan, I

37:13
just want a hat. I want Yeah, I want a

37:14
hat. So, it's got to be an annuity."

37:16
Then you could do it like a MA, which is

37:18
the annuity industry's version of a CD.

37:20
You could peel it off there. But don't

37:22
buy an immediate annuity if you don't

37:23
need income. I mean, it's just that

37:25
simple. So, um, that would be my answer

37:28
to you. It's it's worth a conversation

37:30
with us to make sure that you're making

37:32
a good decision because remember when

37:34
you buy an immediate annuity, it's like

37:35
ripping the knob off a water faucet back

37:37
in the south. You know, you're out there

37:38
drinking from the hose out there. Nasty.

37:40
Can you imagine doing that today? But

37:42
when you rip the knob off a water

37:44
faucet, water's coming. When you buy an

37:45
immediate annuity, income's coming. We

37:48
can just structure it so that 100% of

37:50
that money that you put in there will go

37:52
to somebody in your family and not the

37:53
annuity company. Hit me, Zeke.

37:56
For SPIA,

37:58
can they be deferred by a year or three?

38:01
Let's stop there. We're going to take

38:02
this in segments. DJ, I'm going to take

38:04
this in segments. DJ's the leader of our

38:07
Spanish division, launching in January.

38:08
Shameless plug.

38:11
SPAS, remember, starts 30 days to a

38:14
year. Once you go past year deferral, in

38:17
this case, three years, it magically

38:19
becomes a deferred income annuity.

38:21
Magically. Same product same. You're

38:25
saying saying why' they do that? I don't

38:26
know. Because I'm not the zar of the

38:28
annuity industry. It's a we written DA.

38:31
But that's what it is. So when we go to

38:33
the two questions, what do you want the

38:34
money to contractually do when you want

38:36
those contractual guarantees to start?

38:38
If you say, you know what, uh, three

38:40
years, three years we're going to start

38:41
it. We're going to quote, what are we

38:42
going to quote? Good. Good. You got it

38:44
right. We're going to quote a DIA, which

38:47
is a SPIA that you defer. And then we're

38:49
going to quote income writers. We're

38:50
going to see um which one has the

38:52
highest contractual guarantee. And then

38:53
one of my team members is going to talk

38:55
about the good, the bad, the benefits,

38:56
and the limitations of each so you can

38:58
make an informed decision on your terms

39:00
and your time frame. Hit me, Zeke. Hold

39:02
on. Hold on, Zeke. Don't hit me. Still

39:05
deferred. That's Let's get the second

39:07
part of the question. And still earn

39:08
conservative market rates for growth.

39:10
No, [laughter]

39:12
SPAS are not market products. They have

39:14
no in SPAS have have no market

39:16
attachments, no moving parts, no annual

39:19
fees. Hello. I can explain it to a

39:20
nine-year-old. No offense to

39:21
nine-year-olds.

39:23
No annuity. I know I'm getting ready to

39:25
get hate mail. Hate mail from the

39:28
industry and agents that don't know any

39:30
better. Do not buy annuities of any type

39:34
for market growth.

39:37
Listen to me. Been doing this for three

39:39
decades. Work for Morgan Stanley, Dean

39:41
Witter, Payne Weber, UBS. I know what I

39:43
speak of. These are not market products.

39:47
You can't have your cake and eat it too.

39:49
These are transfer of risk products that

39:52
solve for four things. Principal

39:53
protection, income for life, legacy,

39:55
long-term care. There's no G, there's no

39:58
there's no G for growth, there's no M

40:00
for market, there's no S for stock

40:02
market pill, that's it. And if you are

40:06
trying to be, if someone's trying to

40:07
sell you, well, you can get you can get

40:09
that. You can get Mark Grow, too. You

40:11
can look at look at these back tested

40:13
numbers, player.

40:15
Come on now. Come on now. Don't be, you

40:18
know, as they say in Las Vegas, Zeke, if

40:20
you don't know who the rub at the table

40:22
is, it's you. Don't be the rub at the

40:24
table. Okay, next question. If I die

40:28
before I use the money, would the my

40:29
beneficiaries receive the balance? The

40:31
answer is yes. That's called life with

40:34
cash refund or life with installment

40:37
refund. There's also something called

40:40
life with period certain. A lot of you

40:42
are familiar with that. Well, Stan, I

40:43
just want a life with 20-year period

40:45
certain, son. what it won't what does

40:47
that mean Stan in English means as long

40:49
as you are [sighs] breathing it's going

40:52
to pay but there's a minimum of 20 years

40:54
of payments so let's do an example you

40:56
live seven years you die sorry about

40:58
that there's 13 more years of payments

41:01
you live 15 years and die sorry about

41:03
that there's five more years of payments

41:05
you live 21 years and die no more

41:07
payments

41:09
so we believe DJ believes she's over

41:12
there yes she's giving me the annuity

41:14
power of the people out

41:16
We believe that life with cash refund

41:18
and life with installment refund are the

41:20
most efficient ways to maximize every

41:22
penny

41:24
of lifetime income guarantees

41:26
transferring the risk yet knowing that

41:28
100% of the money is going to go to your

41:30
beneficiary. Your choice is do you want

41:32
the lump sum to go to them so they can

41:33
buy the Lamborghini in full or do you

41:36
want it them to make payments on the

41:37
Lamborghini? Cash refund is buy the

41:39
Lamborghini. Installment refund is

41:41
payments on the Lamborghini. Either way

41:43
they're going to show up to you. I

41:44
always say my my youngest daughter will

41:46
she'll probably helicopter in to my

41:48
funeral, cry for just a little bit and

41:51
then zip off in her Lamborghini. That's

41:53
fine. I'll take that little bit of uh

41:56
condolences, Zeke. I will. You Zeke's

41:58
got a young daughter, so I'm just

41:59
preparing him for the future. So, yeah,

42:01
they will receive the balance. Hit me,

42:03
Zeke. If I purchased a MA, let's talk

42:06
about that. Shameless plug, Zeke. I

42:08
mean, I'm I'm on it here. MGA owners

42:11
manual downloaded for free at the

42:13
annuityman.com. MAS are the annuity

42:16
industries version of a CD. Principal

42:19
protected, no fees, guaranteed interest

42:21
rate. Sound familiar? Yeah, because it's

42:22
a CD. Um, if I purchase a MA through

42:25
another company, Whoa, hold on. Stop.

42:28
Whoa, stop it. What? Purchase through

42:32
another company? What are you talking

42:33
about? No, but let's just say you did.

42:36
Let's just say you didn't know about me.

42:38
I don't know how that's possible. Let's

42:39
just say you didn't. And you did and

42:41
we'll forgive you.

42:44
When it matures, can I purchase a SPIA

42:45
from your firm? Now, that's a good Now,

42:48
that's a good way to end the question

42:49
right there, player. I like that. I've

42:51
done videos on what's called MIGA to

42:53
SPIA. It's taking the MA interest tax

42:56
deferred. If it's in a non-qualified

42:58
account, that means nonirra tax and then

43:01
at the end 1035 transfer direct transfer

43:04
non-taxable event transfer from the MA

43:09
to the SPIA and we're going to quote

43:12
SPIA for the highest contractual

43:13
guarantee. But I have actually, you

43:15
know, I don't have a lot to do, Zeke. So

43:17
I'm sitting around thinking about video

43:18
titles. We've done thousands and we're

43:21
going to do thousands more as long as

43:23
I'm [gasps]

43:24
breathing. But I've actually done, you

43:27
can ask our CST, our client solutions

43:29
CS. Look at me, DJ. I'm talking about

43:31
talking to acronyms. Our client

43:33
solutions team here at the annuity man.

43:34
Hey, send me that video on my gear. Um,

43:38
okay, we'll do that because it it

43:40
explains how that all works. But your

43:42
instincts are very good. Very good.

43:44
That's how it works. Yeah. Go ahead. Hit

43:46
me, Z. If I buy an annuity, could I

43:49
transfer to another institution?

43:52
Could I cancel the annuity at any time?

43:54
If if yes, it's difficult. All right,

43:56
let's let's let's go to let's start

43:59
backwards, Zeke. I'm going to start

44:00
backwards. If yes, is it difficult?

44:02
Nothing's difficult at the annuity man.

44:04
Why? Good question. Is because I'm fully

44:06
staffed here for people to take care of

44:09
all of those administrative issues for

44:10
you and you're treated concierge and we

44:13
just let you know what's happening.

44:16
Believe me on that one. So, let's go to

44:18
the second. Could I cancel the annuity

44:20
anytime? When you're buying immediate

44:22
annuity player, you're ripping the knob

44:24
off a water faucet. It's irrevocable.

44:27
Now, you have a free look time period.

44:29
Typically, with most states, it's 30

44:31
days that you can say, don't want to do

44:32
it anymore, Stan. Send the money back.

44:34
We'll do it. We'll do it in a minute. We

44:36
won't There's no hesitation. We're Why

44:39
do you want to do that? Why Why wouldn't

44:41
you consider holding on? It won't be any

44:42
of that. It's your money. We respect

44:44
that. We're going to do exactly what you

44:46
tell us to do. But once it's past that

44:48
30 days, it's game on. It's annuity game

44:51
income on it's going to happen. So if I

44:53
buy an annuity, could I transfer it to

44:55
another institution?

44:57
First of all,

44:59
let's just say we won't mention names Z.

45:01
We're not going to mention names. If

45:03
they're not sending us money to mention,

45:05
we're not going to do that. So let's

45:06
just say by XYZ company double A plus

45:08
you buy the single premium immediate

45:10
annuity. The money is at that firm. It's

45:14
not money never touches our hands. We're

45:16
the facilitator. We're the point guard.

45:19
We we make sure the transaction goes

45:21
smoothly whether it's an IRA to IRA,

45:24
Roth IRA to Roth IRA, non-qualified to

45:26
non-qualified meaning nonirra to nonRA,

45:28
we do all of that. Never touches our

45:30
hands. We it's not here. It's at the

45:33
annuity company. So the answer to your

45:36
question in a logistical man and very

45:39
nicely is no. So let's just say it's at

45:42
New York Life, Mass Mutual, Guardian,

45:43
whoever, and you want to move it from

45:45
New York Life to Guardian. Uh-uh. No.

45:48
It's contractual. It's irrevocable. And

45:50
it's okay. Just know that going in.

45:52
You're not owning an ETF or a mutual

45:54
fund. Okay? You are owning a pension and

45:57
you're locking it in. Hit me, Zeke.

46:00
If you don't need the income now, is it

46:02
better to delay personal speed until you

46:04
do? The answer is a pound the table. I'm

46:06
not going to do that because Zeke got

46:07
mad at me the last time I did that

46:08
because I messed up the microphone. The

46:11
answer is yes. If you don't need the

46:13
income, don't buy it. Keep your powder

46:16
dry. You could do a maia. You could do

46:18
CD dispia. You could do bond dispia. You

46:20
could do stock to SPIA, ETF dispia,

46:23
mutual fund dispia. If you don't need

46:25
the income, don't buy it. Remember,

46:27
income income from single premium

46:28
immediate annuities is priced primarily

46:31
on your life expecting this at the time

46:33
you take the payment. The od, the higher

46:35
the payment. So, if you're deferring it,

46:38
Yeah. So, if you don't need the income

46:40
now, that's where you're headed. The

46:42
question is, what's the what's the

46:45
strategy gap in between? That's your

46:48
call because it's your money. Um, you

46:50
could do a MIG SP. You don't have to.

46:52
But I would hold. And you're saying,

46:54
"Wait a minute, Stan. You sell

46:56
annuities. You're the top agent in the

46:57
country and you're trying not to sell us

46:58
annuity." No, I'm telling you the truth.

47:00
My grandfather told me a long time ago,

47:02
if you just tell the truth, you don't

47:03
have to remember anything. Very smart

47:05
man. Worked in the mill, worked on a

47:08
farm, smartest man I've known. But

47:10
that's what he told me and that's what I

47:12
do. So, in this case, no. Wait. Keep

47:15
your powder dry. Hit me, Zeke.

47:18
What about the nine [laughter]

47:22
Z? What about the 9.5% rollups or index

47:26
DAV

47:28
uh

47:30
if I was annuities are for a day? This

47:32
would be a beautiful world. Um DJ and I

47:35
are gonna we're so excited to do the

47:38
Spanish division because you know we do

47:42
we're gonna do what we over there what

47:43
we do here which is tell the truth. If

47:47
you believe there's a 9.5% yield out

47:49
there, I have a bridge to sell you.

47:53
Remember, drawing down the middle of the

47:54
page, variable or index annuity over

47:57
here, we don't care because it doesn't

47:59
matter. Income writer over here during

48:02
the deferral years, there could be a

48:04
high percentage

48:06
growth rate until you, you know, you

48:09
turn on the income stream. But

48:10
understand, remember this is your real

48:13
money. Index annuity, variable annuity,

48:14
that's your real money over here. the

48:16
income writer money, phantom account,

48:18
monopoly money, shiny thing. It's okay

48:21
if you understand that that's for income

48:23
and you answer the two questions. I need

48:25
income and I need it later. That's okay.

48:29
But you can't peel off the 9.5%.

48:32
You can't cash that in, player.

48:35
Okay? It's not. Don't even look. And

48:37
that's where the games are played. And

48:38
the additional game that's played is I'm

48:40
going to give you 25% upfront bonus. I'm

48:44
going to give you a bonus. Please don't

48:46
be that dumb. Please. Okay. There's no

48:48
philanthropist at annuity companies that

48:49
are waking up in the morning going,

48:51
[snorts]

48:51
you know what? I'm just going to give

48:53
money away because I just like people.

48:55
They don't exist. They're capitalist.

48:58
Okay. This there's a hundred pennies in

49:01
the dollar. What we have found when we

49:03
quote all carriers, and yes, we quote,

49:05
if you're if you're quote is an income

49:07
writer quote, we quote all carriers. We

49:09
quote all bonus products. We quote all

49:12
high income writer percentages. You know

49:15
what we find? Good question. We find

49:17
that the ones that don't have all those

49:19
shiny things

49:21
are the highest contractual guarantee.

49:23
Remember 100 pennies on the dollar. If

49:25
it sounds too good to be true, it is.

49:27
I'm worn out after three decades of

49:29
people going, "I just bought a 9.5%

49:31
annuity." No, you didn't, player. You

49:34
bought an income writer which is a

49:36
monopoly money phantom account which is

49:38
okay but know that it's not yield.

49:42
Yield is on a CD. You can peel it off.

49:44
Yield is on a MA. You can peel it off.

49:46
Yield is on a bond. You can peel it off.

49:48
Income writers that's not yield. You

49:50
can't get to it unless you turn on the

49:52
lifetime income stream. But it's not

49:54
fungeable.

49:56
Look it up at all. And don't be swayed

49:59
by big number bonuses and big number

50:03
income writer percentages. It's what I

50:05
call shiny things. It's shiny things. It

50:08
It's nothing more than that. Run the

50:11
quotes for the contractual guarantees,

50:13
not the hypothetical theoretical

50:15
projected unicorns chasing the butterfly

50:18
nonsense out there. Okay, Zeke, we're

50:22
rolling. Hit me.

50:24
If you purchase a SPIA with Roth funds,

50:27
is the income tax is it income tax

50:29
taxree? The answer is yes. You've

50:31
already paid our beloved government and

50:33
been a good patriot

50:36
and paid them money up front.

50:39
So yes, it is going to be tax-free until

50:44
I got to Zeke, I got to throw a little

50:45
branch in this, okay? until the

50:47
politician stands up and says, "You know

50:50
what? All those people, all those evil

50:52
rich people with Roth IAS, this is not

50:54
fair to the rest of the people." Now,

50:56
they're forgetting that you've paid all

50:57
these upfront taxes. I'm just hoping

50:59
that doesn't happen and that person

51:01
doesn't show up. But I digress. I

51:03
digress, DJ. I digress. The answer is

51:06
yes, it's taxfree. I'm not a big fan of

51:09
Ross. I'm not going to put you down

51:10
because you have one because you trust

51:12
the government more than I do. That's

51:13
all that says. All you're telling me is

51:15
Stan, you're some tinfall hat. Well, in

51:18
this case, red hat conspiracy theorist.

51:21
No, I just don't touch the government. I

51:23
don't like paying them taxes when I

51:24
don't have to. That's all. But I'm I'm

51:26
all for it if you've run the numbers and

51:28
it makes makes sense for you. Cheers.

51:30
Next.

51:34
What about products with enhanced income

51:37
withdrawals during chronic illness? How

51:39
do they work? We're digressing a shade

51:43
from the immediate annuity um situation

51:47
here, Zeke. So, we're talking about

51:49
income writers. Um how do withdrawals

51:52
work? If you can't I'm I'm not going to

51:54
spend a lot of time here, but if you

51:55
can't do do two out of the six daily

51:57
functions of life, feed yourself, clothe

52:00
yourself, bathe yourself. First of all,

52:01
let me just This is Stan comment. If you

52:03
can't do that, life stinks. Can we get

52:05
an amen on that one? But when that

52:07
happens, they just when when they

52:10
determine you can't do that, obviously

52:11
doctor has to do that. Then they're

52:13
going to enhance mean increase the

52:15
payment. Once again, I have an I have a

52:16
saying for that. If you get sicker, you

52:18
get your money back quicker. That's all

52:20
it is. And typically when you live two

52:22
to six when you when you qualified,

52:24
that's a hard way to put it. Qualify

52:26
when you can't do two out of the six

52:28
daily functions of life. I I'm I got to

52:30
check with my long-term care specialist

52:33
that I use. Um we don't do long-term

52:35
care. you farm it to the best guy in the

52:37
country. But he would probably say it's

52:38
probably a you're going to live five

52:40
years. Ironically, just out of out of

52:42
thin air, those enhanced benefits

52:44
typically are five years. Words, they

52:46
increase those benefits for five years.

52:48
Annuity companies know when you're going

52:50
to die. They really do. Um, we're going

52:53
to keep going. How many do we got have a

52:55
lot of questions, Zeke? What do you

52:56
think? Tons. Okay, so let's let's do a

52:59
couple more, then we'll do a quote. Hang

53:01
in there with me. Do not go anywhere.

53:02
Stay there.

53:05
If SPA has give you a monthly income

53:06
based on certain in No, it's

53:09
is my funding amount still available

53:11
after I die. Okay, first of all, let's

53:14
take it step at a time. If SPA give you

53:16
monthly income income based on certain

53:18
interest rate,

53:21
SPAS are primarily priced on your life

53:23
expectancy. If it's single life, life

53:26
expecties

53:28
if it's joint life, interest rates play

53:30
a secondary role. Okay, that's the first

53:33
thing we need to talk about. Is my

53:35
funding amount still available?

53:39
Let's look at a life with cash refund.

53:41
If you set it up like that, remember

53:42
this is the c this is the lump sum that

53:44
you put in. These are the payments which

53:47
are deducted from the lump sum. As long

53:48
as you're breathing once you die, that

53:51
amount minus the payments goes in lump

53:54
sum to your beneficiaries. The answer to

53:57
your question is yes, they get that lump

53:59
sum but minus the payments. Anyone that

54:02
tells you that they have a product that

54:04
you can get income from and at the end

54:07
you're going to have all your money

54:08
intact are full of shollah.

54:12
What's that? I should have said shiatah.

54:16
Sorry about that. [laughter]

54:20
All right, here we go. Hey, it's live.

54:22
You know, you wanted it live, you got it

54:24
live, right? This is what we do. This is

54:26
how we roll. All right, here we go,

54:28
Zeke. If I have and one more after this,

54:30
I'm gonna do a quote. So, hang in there.

54:32
Don't move. If I have a basis in my IRA

54:35
from the non-deductible contributions,

54:38
is it part of that basis transferred to

54:40
the SPIA? The answer is yes. But any

54:43
type of really detailed, I'm going use

54:45
the word funky is fu ny funky. Things

54:49
like that that's taxdriven, we're going

54:50
to get your CPA involved. Have them

54:52
bless it. That's blessing it. We're

54:54
going to have them bless it and work

54:55
with them on that. But the answer the

54:56
answer to you is yes. Couple things

54:58
before we get to the quote. My email,

55:01
and I know this is scary, Zeke, to give

55:03
my email up, but I'm going to because I

55:04
only get 4 to 500 a day, but I do check

55:07
them. I do respond.

55:08
stantheanuityman.com.

55:10
So stantheanuityman.com

55:15
and I'll if you if you didn't get a

55:17
question, I will I'll answer it in time,

55:20
you know, when my wife allows me to work

55:22
after hours.

55:23
So, of 37 years. Let's do a quote real

55:26
quick. If you're at my site, um I'm

55:28
going to walk it through. You know,

55:30
you're saying, Stan, why wouldn't you

55:31
have this on the screen? It's because we

55:33
just moved into a new office and we're

55:34
not ready for that yet, but we will be.

55:36
[laughter]

55:37
If you go to my site and you go to at

55:39
the top, you see calculators. Made it

55:41
real simple. Calculators and you see

55:43
SPIA, single premium immediate annuity.

55:45
Hit that. And what you're going to see

55:47
is a screen pop up and it's going to

55:49
give you source of funds. It's either

55:51
going to give you a choice, IRA, Roth

55:52
IRA, nonirra. Choose whatever. I'm going

55:55
to choose IRA. Choose your calculation.

55:58
It's going to say, I don't know. I I

56:00
know the dollar amount I want to put in.

56:01
So, let's just say you want to do

56:02
200,000. But you can also reverse

56:05
engineer it and say, I know how much

56:06
monthly income I want. Do you notice how

56:08
I make it that simple? So, let's just do

56:10
let's just do a lump sum. You're going

56:12
to put in this isn't be me being

56:14
assumptive. Oh, let's do a h 100,000

56:16
because I'm gonna I'm gonna I'm gonna

56:19
tell you why after that. So, we're going

56:21
to do we know the dollar amount we're

56:22
going to put in and then we're gonna So,

56:24
here's your dollar amount. We're going

56:25
to put that in and then I want it to

56:28
start in one month. I need the income. I

56:30
need it now. Next step. So, we hit next

56:33
step button. You put your information in

56:36
there. Name. Please put a valid email

56:38
address. Understand we have no proactive

56:40
marketing of calling people. If you want

56:42
to talk to us, you have to schedule a

56:44
call. then we'll call you right on the

56:46
dot. Put in your gender, put in your

56:48
date of birth, put in your state of

56:49
residence. Some reason, Zeke, that just

56:53
diverted to New Jersey. I don't know

56:54
why. So, single life, we're doing single

56:56
life. If if you hit the joint button

56:58
down there, then you could fill in your

57:00
spouse's life and then hit get a quote.

57:02
You're saying, Stan, there's no way it's

57:04
that easy.

57:06
Well, look at me. Of course it is.

57:07
[laughter]

57:08
That's the way I designed things. So,

57:09
what you're going to see pop up and it's

57:11
going to be emailed to the valid email

57:13
address that you put in there. So don't

57:14
put in like joemo.com

57:17
because you're not going to get the

57:18
quote. We're going to email you a quote.

57:21
It's going to happen automatically

57:22
because Zeke can do that. And so you're

57:24
going to see all of the the the quotes.

57:27
You're going to see single life only,

57:29
single life with cash refund, single

57:31
life with five years certain. If you

57:32
scroll to the right, scroll button to

57:35
the right, you're going to see all all

57:37
kind. You're going to see life with your

57:39
10ear certain, life with 20 years

57:41
certain, life with 10 year certain. Why

57:43
do I do that? That's a really good

57:44
question. It's because I want you to see

57:47
how the carriers price it. The more

57:49
guarantees you put on the back end, the

57:51
lower the payment.

57:53
What? Yeah, it's that that's the

57:55
correlation. Okay. So, run those quotes

57:59
to your heart's content. Um, we do have

58:01
a book a call number and we have a buy

58:04
now. Buy now doesn't mean you're that

58:06
you're not going to talk to somebody,

58:07
but by the law the law right now you

58:09
have to talk to a licensed agent. Every

58:11
single person in my office is they're

58:13
licensed, but they're not on commission.

58:16
How about that? There's no incentive.

58:18
Their incentive is to get it right and

58:20
to listen and and we applaud them just

58:22
for doing the right thing. That might

58:24
mean telling you no. Um but that's

58:27
that's who you're going to get. We're

58:28
the only people out there that do it

58:30
like that. Okay. So, yes, we do get paid

58:32
a commission. It goes to the house

58:34
account in essence. It's built in as I

58:36
told you, but nobody here is on

58:38
commission. They have no incentive to

58:40
run the numbers up. Okay. But this is

58:44
what we have. We're the we're the only

58:45
ones out there that show you all of

58:46
this. We're proud of that. So, if you

58:48
want to book a call, you can. Um if you

58:51
want to if you run a quote, you say, you

58:52
know, I want to buy it, you hit buy now

58:54
and you skip that consultation process.

58:57
And again, you're going to get a

58:58
licensed person on the phone. All of our

59:01
B all of our offices in Las Vegas,

59:04
Nevada. I know. I don't drink. I don't

59:06
smoke. I've been married 37 years. I

59:08
mean, but I love Vegas and it's a great

59:11
place to be. And I think it's ironic

59:13
that we're here. We do nothing but

59:14
contractual guarantees and no risk. And

59:16
we're surrounded by risk, Zeke. I don't

59:18
know what the heck's going on with that,

59:20
but um is there one more question? We'll

59:23
close it out with one more, but I wanted

59:24
to run a quote. Please run the quotes,

59:26
you know. Don't run them to your heart's

59:28
content. Look at the numbers, you know,

59:30
and if you want to engage with us, fine.

59:32
If you want to shoot me an email, Stan

59:33
the Annuityman, that's fine. Um, so last

59:38
question, Zeke, let me see. Um, lading,

59:42
don't you have to put it up there. I

59:43
just see it underneath. I see it

59:44
underneath. Someone's asking about

59:46
lading spas. Yes, you can ladder spas.

59:48
Let's talk about that. Why would you

59:50
want to? Let's say you want income to

59:52
start in 30 days from now, 6 months from

59:56
now, a year from now. You know, you can

59:58
buy three SPAS and then have different

1:00:01
start dates. Okay. You can also do you

1:00:03
can also wait and say buy one this year,

1:00:05
one next year, one the following year.

1:00:07
That's another way to lad it. But yeah,

1:00:09
it's customizable. Just think of

1:00:11
annuities. You need to tell us what you

1:00:13
want them to do. We'll tell you if it

1:00:15
can't happen, but typically

1:00:17
contractually we can customize it so

1:00:20
that you can get exactly what you want

1:00:23
contractually. Remember, you own an

1:00:24
annuity for what it will do, not what it

1:00:26
might do. One last thing and then we'll

1:00:27
go. We are open 12 hours a day and we're

1:00:31
open um eight hours on Saturday. You go,

1:00:33
Stan, what in the world are you talking

1:00:35
about? Yes. East Coast 8:30 to 8:30 at

1:00:38
night. West Coast obviously 5:30 to

1:00:40
5:30. But the reason we're open for that

1:00:42
amount of time every day is we want to

1:00:44
make sure being licensed in all 50

1:00:46
states that we can get to you. You don't

1:00:48
have to work around your schedule. You

1:00:50
can you can work us into yours. You know

1:00:52
what I'm saying? Did I say that right? I

1:00:54
think I did. But you know what I mean.

1:00:56
That's the reason we're open. And then

1:00:57
Saturdays we have people uh here as

1:00:59
well. We would have Sundays, but my wife

1:01:01
wife would leave me and that's not what

1:01:03
I want. That that would not be good. So,

1:01:06
this has been fun. We're going to do a

1:01:08
live event every single month. Check

1:01:10
your email. Um if you have any

1:01:13
questions, let us know. My name is Stan

1:01:15
the Annuity Man. I am America's annuity

1:01:17
agent. I am the top agent out here. I am

1:01:19
the gorilla in the room in the YouTube

1:01:21
annuity space.

1:01:23
And we're here for you. Have a good one.

1:01:27
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