Stan The Annuity Man: Annuities and the Election

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[Music]

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welcome to fund with annuities where

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every single week I welcome a celebrity

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guest expert that can help you maximize

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chapter 2 of your life listen learn

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laugh and love every minute of the most

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let's get to

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[Music]

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it welcome to fun with annuities I'm

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your host Stan the annuity man America's

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annuity agent licensed in all 50 states

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as you know this is somewhat of a

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annuity man alert after the political

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political conventions have been held and

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all the balloon drops and pumping

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circumstance and and if you could

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stomach either party and all of those um

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scripted

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messages you're you're a better person

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than I am

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um as you know and the reason you always

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turn in to me and to listen what I'm

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going to say is it's not scripted this

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is coming out of my brain real time as

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my grandfather always said if you if you

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tell the truth you don't have to

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remember anything obviously a lot of

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this is my opinion but understand this

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before we jump in Michael Jordan was a

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great basketball player and as you know

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I played basketball in college and

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that's how I put myself through school

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my dad was uh fixated on that so that's

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what we did that's what I did but

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Michael Jordan who played for the

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Chicago Bulls if you don't know who that

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is and if you don't know who that is

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somebody that you've seen is wearing Air

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Jordan gear from Nike because it's a

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billion- dollar brand but I always like

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what he said and he

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said Republicans and Democrats buy shoes

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and he's right same thing with annuities

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Republicans and Democrats and and

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liberals and conservatives and

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independent

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and whatever green party they all buy

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annuities because they all need

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guarantees all right so I'm not

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political at all and you say yeah you

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are D I've heard I kind of can get a

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feel for where you're leaning I'm not

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leaning anywhere okay I've been through

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it all I've been doing this for three

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decades I've been through Republican

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administrations I've been through

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Democrat uh administrations and to me

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it's red plus blue equals green and

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green is money so we have to take the

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emotions out we have to wherever your

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confirmation bias lies and you know what

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I'm talking about regardless of where

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you lean you will either go to the

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podcast or the television channel or the

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commentator that's going to tell you

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kind of what you want to hear and

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confirm what's in your brain what I want

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you to do today with me is step back a

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second and and realize that your vote is

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one vote and we all have to vote and

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that goes without saying but also

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understand as always say think of the

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dumbest person you know literally the

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dumbest like they have no Insight

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whatever good person you see him at the

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restaurant or whatever you went to high

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school with them college with them but

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they're dumb as a box of hair their vote

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nullifies yours okay so you know don't

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take yourself too seriously out there

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player um do do your part vote do the

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best you can um get involved Etc but

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when we're talking about

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annuities and Republicans and Democrat

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uh the conventions in the

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upcoming um election which should be a

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that should be a doozy right um You need

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to start thinking if you haven't already

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what you're going to do now we can go

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down the gloom and doom holes of each

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party in each platform and each way that

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they lean liberal versus conservative

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versus independent versus libertarian I

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think that's a colossal waste of our

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time um but let's talk about annuities

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during these crazy times okay um as you

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know at the annuity man and we're the

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top direct consumer platform in the

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country licensed in all 50 states we

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only sell contractual guarantees as a

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reminder we don't do any hypothetical

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theoreticals projections unicorns

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chasing the butterflies Mr Jones if you

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own it 10 years ago you got this crap

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you're buying a policy which is a

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contract so we only focus on the

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contractual guarantees of that policy

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now the question is and I think

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regardless and the answer regardless of

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who wins okay we're going to go through

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some chaotic times we're we're 35

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trillion plus however you want to to EP

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however you want to calculate that and

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then you got the other the the

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mathematicians on the other side well

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that's not counting the the overall

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outstanding um debts with Social

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Security you know trillions we're

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trillion there's that that Piper has to

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be paid

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eventually um it's amazing to me that

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neither party is really addressing the

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gorilla in the room which is debt which

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is we have to cut spinning like all of

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us do when when there's not enough money

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coming in to pay to pay the bill then we

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cut you know we either make more money

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or we cut the bills you know we cut back

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our government's not doing that so both

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parties are not addressing that they're

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not addressing you know the the

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entitlement Social Security Medicaid um

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the the Department of Defense the debt

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servicing of the debt so what do you do

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um here's what I'm doing you know and I

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know you're saying to yourself Stan but

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you don't even look retired you you look

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so vibrant you're right no not I'm in

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I'm in a daily battle and struggle with

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my A1C numbers so you know my doctor

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says the only number you need to focus

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on is five I'm like five what's five he

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goes that's what your A1C needs to be

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Southerner player stop eating the the

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peach cobbler I'm like okay um but what

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we need to do is look at regardless of

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who wins who listen you've lived through

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the last 16 years 12 of them have been

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Democrat four of them have been

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Republican if you look back you know you

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survive we're going to survive

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regardless of who wins I love these

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comments like this is the end of

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democracy if they win and then the other

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side go this is the end of democracy if

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they win I'm like I think we're pretty

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and I understand the arguments you can

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email me if you want and go off but we

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are resilient okay we'll be

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fine um you know anytime we go you know

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extreme right or extreme left somebody

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gets backhanded figuratively and

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possibly literally to like let's go to

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the rational I'm not going to call it

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the middle let's go rational which leads

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me to another point I really should

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start the rational party but that's

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problem because ours Republican but

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rational or pragmatic P the pragmatic po

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polic uh party and I would run for

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president and I would win because I

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would be pragmatic I would never get

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involved in like I'm better looking than

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that I'm smart he he's a he's a a

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horrible person I mean come on now um I

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did one of these earlier and I had to

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update it now because I said my

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prediction for 2024 is an old person's

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gonna win in that got shot down well

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that's no pun intended you know what I'm

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saying though I mean now things are

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different and I'm not going to mention

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their names you know their names okay my

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only comment

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is there's a lot of smart people in the

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country including myself can we not find

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somebody better you know people say why

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wouldn't a business person take the

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John because they'd have to take a pay

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cut and put up with stupid people and

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entrepreneurs and Ballers out here and

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players don't want to take a pay cut and

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they hate dealing with stupid people nod

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your head please because that would be

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my problem is you'd have you know career

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politicians trying to have a

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conversation with me as stany nyman

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president of the United States I'd be

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like you're the dumbest person I know

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please stop talking my IQ is low being

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lowered as you

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talk but with your money we I don't

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Democrat Republican whoever

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wins if you are going toward retirement

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if you're going to what I call chapter

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two I don't like the word retirement

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chapter two chapter two of your life

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you've got

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to factor in that income floor we've

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always talked about an income floor for

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the people that's never heard that

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income floor is the amount of money

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that's coming in to your bank account

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every single month regardless of what's

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Happening who wins parties in control

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all that stuff

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okay that I mean that's it period the

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the the income floor is your Bogey and

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that's Social Security which is the

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annuity you already own all you haters

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out there you already own one pension

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another annuity if you're so fortunate

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to have one rmd is kind of an annuity

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that all of us have to start taking you

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know our 70s they keep changing the um

9:31
the the age on that but that's an that's

9:34
a kind of an annuity because it's an

9:35
annual payment you have to take because

9:37
the IRS is tapping you on the shoulder

9:38
dividends from from stocks Legacy type

9:41
stocks um munity Bond stuff Mya interest

9:46
the income floor regardless of the party

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you've got to establish that income

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floor you've got to have that in place

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if you can pull it off now if you have

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enough money you don't have to disrupt

9:57
the principle you can just peel off

9:58
interest from that now all of you out

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there just threw apples and oranges at

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the screen D they go lower interest rate

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which I just said they're going to lower

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interest rate stand and kind of a

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southern yell okay that's fine then you

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might not have enough money to just live

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off the interest but I think a portion

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of that you can and then the other

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portion income floor is remember

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annuities were put on the planet to

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primarily solve for Lifetime income they

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suffer four primary things in my opinion

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the Acron acronymous pill principal

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protection income for Life Legacy and

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long-term care principal protection and

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income for life are probably the the top

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two that people are looking at income

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for Life uh with annuities is not just

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one product it's four single premium

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immediate annuities deferred income

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annuities qualified longevity annuity

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contracts and income writers and you can

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get those quotes on my site the annuity

10:57
man.com 247365 with no one calling you

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and we're quoting all carriers for the

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highest contractual guarantee remember

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you own an new if what it will do not

11:05
what it might do so regardless of who

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wins you need the income floor

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regardless if you're a Democrat or

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Republican libertarian whatever or green

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party you need an income floor you need

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money hitting your bank account that's

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apolitical non-political not political

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okay now let's get a little bit

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more into you

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know I guess the the uh the the topics

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that make people cringe a little bit

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let's talk about inflation the gorilla

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in the room inflation how do annuities

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address

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inflation well remember life insurance

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companies is issue annuities okay so

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life insurance companies know when we're

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going to die they have the big buildings

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for a reason and they issue annuities

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for Lifetime income primarily priced and

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based on your life expectancy or life

11:57
expectancies at the the time you take

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the payment now with some annuities you

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can attach what's called a cost of

12:04
living adjustment or an increase with

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some index anties they'll be like sir

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every time the index increases it

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increases your payment and it sounds

12:14
really good but you know what else

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sounds good taking a pill and getting

12:17
six-pack abs which does not work the

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point is life insurance companies are

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for profit businesses for now okay

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they're not giving that away so in other

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words if you want an in increase your

12:29
income stream I don't care what anybody

12:32
tells you I don't care how good the

12:34
stake was at the stake dinner seminar I

12:37
don't care the charts they show you I

12:40
don't care you're talk you're you're

12:42
talking I'm talking to you st the nity

12:44
man America's a nudity agent I've

12:46
forgotten more than agents know okay

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I've written seven books on it done

12:50
thousands of video this is my life I

12:52
know it's sad but this is my life uh

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life insurance companies don't give that

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away all they do is severely and Dr

12:59
ically got got your attention severely

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and drastically lower the initial

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payment to make up for that increase

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when compared to the exact slame annuity

13:12
without the

13:14
increase let me let me give you kind of

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a number let's just say let's just say

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you need $2,000 a month and you said all

13:23
right standing in the M run one with and

13:25
without a cola like okay not a cooca but

13:29
a cola cost of living adjustment just

13:32
for math don't okay it's different

13:34
because of Ages and life expectancy but

13:37
without without a cola it might start at

13:41
$2,000 a month with a cola it might

13:43
start at $1,300 a month so it's it's

13:45
math and remember that annuities are all

13:48
math it's math you're getting a contract

13:50
so figure out how long it's going to

13:53
take for you to make up for that

13:56
increase and it might make you feel good

13:59
but it's not perfect in other words

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regardless of what anyone says there's

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not an annuity type on the planet that

14:10
solves for inflation are we clear and as

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they said in as Jack Nicholson said

14:16
Crystal are we clear crystal we're

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crystal clear I think that was Tom Cruz

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that said that because Jack Nicholson

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looked at that are we clear young man

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are we clear and Cruz said few the movie

14:31
is a Few Good Men and and Cruz said

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Crystal so we're crystal clear on

14:37
inflation with annuities don't believe

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that badging dinner seminar guy yes sir

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I mean this thing sols for inflation in

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fact you take all this income out and at

14:49
the end you still got more money or the

14:52
same bull propa okay I mean as always

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tell people if it sounds too good to be

14:58
true it is every single time but let's

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just say it's your brother-in-law that's

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selling you the annuity have him write

15:03
down everything he says to the tea and

15:06
all the promises and good things all the

15:07
whistles and the bells and the shiny

15:09
things okay and then have him sign off

15:12
on it saying that this is all true and

15:14
if it doesn't come true I own it and

15:17
responsible and liable for it key word

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lie liable for it they will not sign it

15:24
that pen away 1,000

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pounds so income floor we have to

15:29
establish that regardless of party

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inflation regardless of party

15:34
annuities do not address that and really

15:37
there's no product that really addresses

15:40
that Social Security and you say St wait

15:43
a minute why is that the annuity that I

15:45
own from the government why is that why

15:47
is that the best inflation annuity on

15:50
the planet it's because the government

15:52
as you know unfortunately he not a

15:54
for-profit entity they just vote the

15:58
increase to get vote the increase so

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they could get voters to vote for them

16:03
it's all about the vote so they're not

16:05
looking at can we pay for it does it

16:08
make sense no they're just voting it up

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because they need

16:14
voters wait a minute water break by the

16:17
way this is water it's not straight

16:18
vodka I would

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say what was that 18 years ago could

16:23
have

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been so let's get to interest

16:31
rates you again conspiracy theories I

16:34
saw the other day stand where the job

16:36
numbers to decrease that's just a play

16:39
that's a play maybe who knows I don't

16:42
know I don't know all I know is since

16:45
October

16:46
22 when interest rates went to five on

16:51
migas by the way migas is multi-year

16:53
guarantee annuities which is the annuity

16:55
industry version of a CD which means if

16:57
you say you hate all ities and you own

16:59
CDs you're a hypocrite but I digress but

17:03
migas have had a good run interest rates

17:05
Etc but most likely they're going to go

17:09
down and if you have a heart they

17:11
probably should go down and the reason

17:13
they should go I mean I feel for people

17:15
trying to buy a house with 7% or 6% I

17:18
don't even know U mortgage rates that's

17:20
that's hard but what happens first of

17:23
all you can't time it okay I mean you

17:26
can't time it you know as a smart guy

17:29
said once in the uh stock brokerage

17:31
world I used to live in hey stand the

17:33
Bell doesn't ring at the top or the

17:35
bottom son and I'm like you're right it

17:36
doesn't so if you feel like they're

17:39
going to go down long term you might

17:42
want to lock in those those um those

17:45
rates now but nobody can time it period

17:48
it's all going to change it's all going

17:49
to fluctuate it's all manipulated do you

17:51
really trust the FED I I mean I want to

17:54
but I don't know you know it's it's so

17:57
interest rates regardless of the party

18:00
guess what you can't control them

18:02
they're going to go down in my opinion I

18:04
hope I'm wrong I just don't know by how

18:06
much but

18:09
remember that interest rates and the

18:12
debt of the country they correlate you

18:15
say Stan that you're you're talking

18:17
gibberish now son I know you didn't get

18:19
that good of a degree when you played

18:21
college basketball explain it well and

18:24
you know this if you think about it that

18:26
debt we talked about early in the

18:27
podcast that $ 35 trillion remember that

18:31
yeah and it's even more really if you

18:33
factoring everything else well they have

18:35
to service that debt at current interest

18:40
rates yes so if I'm the government and I

18:46
should be and if I I mean I want

18:48
interest rates lower now they can play

18:50
the inflation and we're trying to get it

18:51
at 2% all stuff all that nonsense I love

18:57
I love just the pundits pontificating on

19:01
this and you know the CNBC and the Fox

19:03
Business which I've been on of course as

19:05
the annuity expert in America's anity

19:07
agent but everybody trying to throw a

19:09
dart and throw you know try to nail

19:11
Jello to the wall nobody really knows so

19:14
what what does that mean Republican and

19:16
Democrat for when it comes to interest

19:18
rates we all kind of know regardless of

19:20
who wins rates are probably going to go

19:22
down they're probably going to go down

19:23
before the election you know you're at

19:25
the time of this taping you're going to

19:26
see it before the election going to try

19:28
to lower interest rates every party does

19:33
um if I'm not mistaken I think Trump did

19:35
before his

19:36
reelection um I mean every party does

19:40
don't get caught up in that I really

19:42
wish that and I'm not some sappy

19:45
Feelgood let's hug everybody I want to

19:47
hug them I want to hug them I want to

19:50
know them no that's that's that's not me

19:53
but I really wish that tribalist would

19:56
kind of go away because I always say

19:58
this let's just say you let's just say

20:02
you're on the left and you're standing

20:04
beside someone that's on the right

20:05
politically and you're standing side by

20:07
side and you're standing in the middle

20:09
of a city name a

20:12
city and the person beside

20:15
you somebody comes up hits them or

20:18
attacks them or what tries to steal what

20:20
are you going to do are you going to

20:21
stand there because on they're on the

20:23
other party and just let them get mugged

20:25
or killed no we're Americans we're going

20:28
to stand up it's the same thing as

20:30
people in the military you got people

20:32
side by side different political views

20:34
different places where they grew up

20:35
different ideas they're going to fight

20:38
for each other at the end of the day

20:41
we've forgotten that somehow I don't I

20:43
think when the rubber meets the road and

20:44
there's something really chaotic we we

20:47
revert to that because that's our

20:48
Instinct As Americans as who we are

20:50
that's that's who we are um I you

20:54
listen the person I hate the most on the

20:57
planet if they're standing standing

20:58
beside me I don't know who that is I got

21:00
to think real quick

21:02
non-family

21:04
okay non-extended family I'm going to

21:07
defend that person I'm GNA fight to the

21:09
death and if it's family I'm GNA that's

21:11
a whole another you know flag in the

21:14
ground right no I'm not getting

21:16
political but I'm just saying let's

21:18
approach money let's approach annuities

21:22
with the parties and the conventions and

21:26
ads and all that stuff to the de side

21:29
because you got you got work to do you

21:31
got money you've got retirement you got

21:34
family you got Legacy you got things

21:37
that you have to take care of Nod your

21:39
head that's irrelevant to when to a

21:43
party when I go into see my CPA and my

21:46
estate planning

21:48
lawyers we don't talk politics now

21:50
they'll say well because this person's

21:52
in they've changed this law okay great

21:55
let's let's let's make a make a plan

21:58
around that but that's the best we can

22:00
do getting mad about it is not raising

22:03
your cortisol levels is not going to

22:05
raise annuity rates okay it's just not

22:09
so I want you to go into these elections

22:12
and this isn't the last election ever

22:15
man if the other side wins it's over no

22:17
it's not over you know what else is not

22:19
over your money it's not over it's not

22:21
going to go away it's not going to go

22:22
poof they're not GNA they're not going

22:24
to come get it as much as you care about

22:27
your money okay I want you to think

22:30
about all the other Mega rich people

22:32
they care about their money too and the

22:33
people just like you at your net worth

22:35
they care about their money too okay yes

22:37
they can tax the rich up to a point but

22:39
there's not many of the rich I mean you

22:42
can't you can't do that up to a point

22:45
and rich people are rich for a reason

22:48
okay they're rich for a reason because

22:50
they figure things out and they adapt

22:52
and they learn and they do research and

22:54
they plan and they have strategies

22:56
that's why you're watching this you St

22:58
what's some insight here so let's get to

23:00
that let's get to forget the parties

23:04
again because I'm stany annuity man you

23:06
know Republicans and Democrats and and

23:09
Libertarians and green party people buy

23:10
tennis shoes they also buy annuities and

23:13
I really am a political but let's just

23:16
say taxes are raised and they I mean if

23:20
we're honest with each other please at

23:23
the debt levels that we're

23:25
at I mean something's got to give right

23:29
um and with the you know the the house

23:31
and and the Senate they love raising

23:33
taxes they love it and remember that you

23:36
know over 50% of the taxes are paid by

23:39
the 1% anyway okay if that offends you

23:42
it's just it's called a fact I mean it

23:44
is what it is but let's just say

23:48
hypothetically that whoever is elected

23:50
comes in and say you know what we've

23:53
gota we've got to raise taxes we've got

23:56
to raise taxes

23:59
on you rich evil people that sacrifice

24:02
and work seven days a week it's not fair

24:04
we're going to tax you because we need

24:06
to and and by the way that's where the

24:08
money is okay what are you going to do

24:11
all right well with annuities this

24:14
doesn't make them good or bad okay but

24:16
this is a reality if you said you know

24:18
what I just want to protect the

24:19
principal and not pay interest and I

24:21
have non Ira type funds then you can buy

24:24
a migga or an index annuity in my

24:26
opinion you got to look at both mga's

24:28
typically outperform index annuities in

24:29
the short term you know index annuities

24:31
are very complicated we'll get to that

24:33
down the road in another podcast but we

24:35
have nothing against them I just am

24:37
about contractual guarantees but let's

24:39
just say you have non Ira money and you

24:40
go you know what I really don't want to

24:43
pay taxes I want to have a little lever

24:46
that when I need money I can bring it

24:47
out and if they're going to be uh taxing

24:51
me at crazy rates I can shut it off

24:53
that's a Miga now not all migas allow

24:56
you to take interest out but a lot do

24:58
and what you can do is say okay I'm

24:59
going to let it grow tax deferred which

25:02
is the annuity industry that's the

25:04
difference between let's say a CD and a

25:06
MGA CD in a non IRA non-qualified

25:08
account you have to pay taxes on the

25:10
interest every year okay and in migas

25:13
you can defer it tax deferred yes you

25:15
have to pay taxes down the road but one

25:18
thing you can do is shut it on and off

25:21
if taxes rates get too high think about

25:25
that for a second or you might you know

25:27
I don't sell these but I used to when I

25:29
was at morg and Stanley and UBS and pay

25:31
Weber and Dean Witter um that's how you

25:35
say it in sou municipal bonds now the

25:38
rates might be low whatever but it's

25:40
taxfree okay people that are smart that

25:44
have planned that manage their money or

25:46
have someone someone manage their money

25:49
always thinking about Okay what's if if

25:51
this is the if this is the action what's

25:53
my reaction legal reaction of course

25:56
everything's you know what what can I do

25:59
one of the great things about migas or

26:03
deferred annuities is you're deferring

26:06
the taxes now you gotta the conspiracy

26:08
theorist out there go um but wait a

26:10
minute Stan um what if they change those

26:13
rules on the life insurance companies

26:15
that issue annuities that those

26:16
annuities aren't tax deferred anymore

26:19
you you can't defer them my answer to

26:22
that is if that happens boy we're in

26:24
trouble but let me give you a better

26:27
answer people always think and always

26:29
say well the NRA is the toughest Lobby

26:31
up there the biggest baddest swing in

26:35
the biggest stick Lobby on the planet is

26:38
the life insurance

26:40
Lobby those are the baddest dudes on the

26:43
planet that tax deferral thing is not

26:45
going away at all it's not going away

26:49
now that's a non-qualified type strategy

26:53
in your IRA you got to take money out

26:55
eventually in your 70s you know I I say

26:57
that because people going to be watching

26:58
this down the road and they always

26:59
change the rules you know the rules you

27:01
got to deal with your CPA CPA anyway but

27:04
annuities inside of a a qualified

27:07
account you know Ira 401K whatever if

27:10
your 401k offers it I mean all money

27:13
coming out of that is is tax at ordinary

27:15
income levels it is what it is but let

27:17
me give you another non-qualified

27:19
thought if you said you know what Stan I

27:22
need income lifetime income for me or me

27:24
and the spouse if you want to set it up

27:26
joint um to build up my income floor and

27:29
I have non-qualified money well let's

27:32
just say you need the income now and I

27:33
always ask people two questions what do

27:35
you want the money to contractually do

27:36
and when you want those contractual

27:37
guarantees to start and then from those

27:40
two answers we can determine a if you

27:42
even need an annuity and we'll tell you

27:44
straight if you don't and then B what

27:47
type of annuity will provide the highest

27:50
contractual guarantee but let's go let's

27:52
go back let's just say you say St me and

27:55
the wife me and the spouse need

27:58
$22,000 a month okay and we need it to

28:02
start as soon as possible and as soon as

28:04
you can get that income to start with it

28:06
say an immediate annuity is 30 days from

28:08
the policy being issued now with

28:10
non-qualified money there's What's

28:12
called the exclusion ratio that's that's

28:15
as that's as as complicated as I'm

28:17
getting ready as I'm going to get I'm

28:18
going to explain that okay all lifetime

28:22
income whether it's coming from an

28:23
immediate annuity deferred income

28:24
annuity qualified longevity annuity

28:26
contract and an income writer which are

28:27
the four types of annuities for Lifetime

28:30
income regardless of that that that

28:33
income is a return of principal plus

28:35
interest you say wait a minute huh

28:37
that's not what I heard the chicken

28:38
dinner seminar I understand this is the

28:40
truth so that's the reason you're you're

28:42
watching and listening It's a

28:44
combination return of principal plus

28:45
interest and if you draw the account

28:47
down to zero which means that you've

28:48
outlived your life expectancy and the

28:51
counts at zero the inity company's still

28:53
on the hook to pay as long as you're

28:55
breathing on a ventilator and that's the

28:57
transfer risk um value proposition of

29:00
Lifetime income stream with annuities

29:02
okay so there's no Roi until you die

29:05
don't try to compare it to mutual funds

29:07
I hear pundits on radio and podcast

29:10
saying well you know the return on

29:11
investment on on stocks and and mutual

29:14
funds are so much better in anity give

29:16
me a break you talk about apples and

29:18
oranges that's that's as misleading as

29:21
um um we'll get to that I I've got a

29:24
policy thing I want to talk about which

29:26
is crazy okay but but going back to the

29:29
non-qualified and you you're wanting

29:31
lifetime income It's a combination of

29:33
Return of principal plus interest hang

29:34
in there with me the return of principle

29:37
part is not taxable only the interest

29:40
part is taxable so it's tax favorable

29:44
air quotes tax favorable for you to get

29:47
lifetime income from that because you're

29:48
getting return of principal plus

29:49
interest so the vast majority of that

29:52
money is not that you're getting his

29:53
income monthly is not taxable now when

29:56
it becomes taxable is when you you have

29:58
depleted it down to zero outlived your

30:00
life expectancy now you're fully in the

30:03
life insurance company who issued the

30:05
annuities Pockets at that point in time

30:07
when it's at zero then you're going to

30:09
pay taxes on the full amount but up

30:10
until that point it's a combination

30:12
return of principal plus interest so

30:13
that's another way to get that lifetime

30:15
income to get that income floor in place

30:18
and not beat the tax man but kind of

30:21
swerve around okay and we're never going

30:24
to beat the tax man but we can swerve

30:25
around them

30:28
reme remember you don't know this I'm

30:30
just going to tell you the fact then you

30:31
can remember

30:32
it variable annuities and we don't sell

30:35
this because we don't sell anything that

30:36
goes

30:37
down but they were put on the planet

30:39
1954 1955 whoever you're arguing with by

30:43
Tia used to be called Ti a a c they were

30:46
put on the planet for tax deferred

30:49
growth okay tax deferred growth that's

30:52
that's how long this tax deferral thing

30:55
has been around in the Life Insurance

30:57
business

30:58
but when you talk about lifetime income

31:01
or income in general you can buy the

31:03
immediate annuity that starts

31:05
immediately a deferred income annuity

31:07
which is an immediate annuity that um

31:10
that def it's an immediate annuity that

31:12
defers past a year um and both of those

31:15
are the combinational return of

31:16
principal plus interest and a non IRA

31:18
non-qualified account that's tax

31:21
preferable type income and remember

31:23
where I started with this multi-year

31:25
guarantee annuities which is the annuity

31:26
industry version of of a

31:29
CD okay um that's that's an interesting

31:33
strategy because you literally can flip

31:37
that on and off like a light switch you

31:39
can say okay send me the income stream

31:41
and then they raise taxes you go okay

31:43
stop it let's just let it defer and let

31:45
it

31:46
roll now I've got a great staff our our

31:49
home office is in Las Vegas Nevada and

31:51
someone said the other day they go wait

31:52
a minute you do no risk you transfer the

31:55
risk you're all about contractual

31:57
guarantees

31:58
but your main office is in Las Vegas

32:01
Nevada I'm like yeah I'm a contrarian

32:05
and plus I love the food there I don't

32:06
gamble you know I don't drink I've been

32:09
married 36 years so I just like the food

32:12
I like the energy I always tell people

32:13
Vegas is kind of an interesting place

32:15
because everybody that goes there wants

32:16
to be there okay so everyone's kind of

32:19
happy whether they're masking it or

32:21
whatever they're kind of happy now I'm

32:24
going to get political just briefly okay

32:27
and I'm going to political without

32:29
mentioning names and I'm just going to

32:31
bring up um one thing I heard recently

32:34
because if you hung around me which

32:36
would be cool because my life is just

32:38
it's

32:39
glamorous I don't watch a lot of TV I

32:41
don't listen to a lot of podcasts I will

32:43
read news for a 15minute time period in

32:47
the morning and I can get pretty much

32:49
all I need but I read something the

32:52
other day which I do have to weigh in is

32:54
I don't care who's I I'm not going to

32:56
sit here and go well this part's crazy

32:58
but this what I'm going to talk about is

33:04
politicians that either have never run a

33:07
business have never met a payroll don't

33:09
understand business don't understand

33:12
economics basic economics I heard a

33:14
great line the other day guy said um the

33:18
book that's never been picked up in

33:19
Washington is economics 101 I mean a lot

33:23
of the stuff again going back to my

33:25
pragmatic party is this is just

33:27
pragmatic stuff so the one that I read

33:29
the other day that that really fli me

33:32
out and there's there's just no way this

33:34
goes through because somebody all of us

33:37
is going to go huh

33:40
no unrealized capital gains okay this is

33:44
great okay and I'm listen a republican

33:47
might have put it out there or a

33:48
Democrat might have put it out there I

33:50
don't it doesn't matter to me but you

33:52
and I both know that somebody on both

33:53
sides would be like yeah that's a good

33:55
idea we can get some more money in here

33:56
to give it away both parties both

33:58
parties is spent like drunken Sailors

34:00
and I love drunken Sailors I used to be

34:02
a drunk nons sailor 18 years ago um but

34:06
unreal unrealized capital gains and I'm

34:09
thinking to myself wait a minute stop

34:11
let me give you some examples if you

34:13
haven't run that through your head and

34:14
I'm assuming my listeners have run that

34:16
and gone what or as Scooby-Doo would go

34:20
huh you have a house it's worth 200 the

34:23
way I understand what's been proposed

34:26
it's worth $200,000

34:28
okay it's now appraised I don't know

34:31
who's going to be appraising it it's now

34:33
worth $400,000 which in theoretically

34:36
you have an unrealized capital gain of

34:40
$200,000 under this proposal and I don't

34:44
know where they pulled the percentage

34:45
I'm sure some some Quant act some person

34:49
in in a closet ran the math and go

34:51
listen if we raise money I this would be

34:53
a great way to raise money but on that

34:55
$200,000 gain you owe 25%

34:58
taxes on that $200,000 gain now if it

35:00
goes down in value they don't give you a

35:01
refund and it is what it is and you

35:03
haven't sold it so you haven't realized

35:05
it's just what they call unrealized you

35:07
could you could run the same thing on a

35:08
stock let's just say you know you bought

35:10
Apple at five and now it's 100 just

35:13
whatever don't email me say it's more

35:15
than 100 uh with all the splits you know

35:18
what I'm saying that gain they're going

35:20
to want 25% it would ruin the country

35:24
period okay give you an example uh one

35:28
of the places I haunt is Florida Florida

35:31
and Vegas are kind of run back and forth

35:33
and back and forth if you see the

35:34
correlation and I stop off in Nashville

35:37
sometimes all three of those have no

35:38
state taxes have you have you noticed

35:40
that little correlation there think

35:43
about Florida a long time ago I don't

35:46
know when that was some

35:48
genius tool in Tallahassee the capital

35:52
said you know what these rich people

35:55
when all these Yachts they're running

35:57
this this is not fair to the Common Man

35:59
and we're going to tax these new Yachts

36:01
that they're buying we're going to tax

36:03
them and look at the revenue stream that

36:06
we're going to create for the government

36:08
by taxing these new

36:09
Yachts if you're familiar with history

36:12
what happened

36:14
is rich people air quotes however you

36:16
define that rich people stopped buying

36:19
new Yachts they bought used

36:23
Yachts so so new yacht cells plummeted

36:26
use Yacht Sales went through the roof

36:30
and what's that an example of that's an

36:31
example of people that plan like you and

36:35
like me are going to look at what's

36:37
being proposed the action and we're

36:39
going to react because we're smart okay

36:44
it is what it is so the

36:48
other I don't want and again these are

36:51
just common sense things but what I want

36:53
you to do is is frame the election so

36:55
you're not raising your cortisol and

36:56
stressing about it and you know what

36:59
whatever Party by the way whoever wins

37:01
the other side's going to say that party

37:02
cheated I can prove it both parties are

37:05
going to say that just go with me on

37:07
that okay but what I want you to do is

37:11
forget about all that I want you to

37:13
focus on your money and I want you to

37:14
put plans in place similar to if A

37:17
hurricane's coming into Florida we don't

37:19
just sit here and go man that's a big

37:20
eye of a storm right there that's going

37:23
to be a heck of a deal no we prepare we

37:26
either board up or we leave or whatever

37:28
we call the insurance company make make

37:30
sure everything's good what you need to

37:32
do is board up in essence with your

37:35
money you need to think about what

37:38
you're going to do does that mean you

37:40
buy annuities maybe maybe not annuities

37:42
aren't for everybody you might have too

37:44
many already you might have too much you

37:46
might not need the strategy and the

37:48
contractual guaranteed transfer risk

37:50
strategy that is s you might not need

37:52
that but what I'm encouraging you to do

37:54
is is get rid of the politics yes you're

37:57
going to vote one way or the other and

37:58
you're passionate about it great but

38:00
this is about your money this is about

38:01
your family this is about your legacy

38:04
you know which is leaving money to to

38:06
the kids and with annuities you can do

38:08
that either lump sum or you can lovingly

38:10
handcuff them with payments which I do

38:13
um but I want you to take the emotion

38:16
out because as you know with money

38:18
whether you're in the stock market bond

38:20
market annuity

38:22
Market it's a it should be a

38:24
non-emotional decision it should be a

38:26
fact-based decision it should that

38:29
that's the reason there's such a

38:30
proliferation of Quant AI type

38:33
management is because allegedly there's

38:36
no emotion in there we got to take the

38:37
emotion out we got to stop listening so

38:40
much to I guess the pundits I've done I

38:43
I've stopped doing that a long time ago

38:45
I call it a redneck vacation I can say

38:47
that because I'm from North Carolina

38:48
redneck vacation means that you don't

38:51
have enough money to go on vacation so

38:54
what you do is you just shut off your TV

38:56
and your radio and and internet and

38:58
that's a redneck vacation and if you

39:00
haven't ever taken a redneck vacation

39:01
before it's very effective on the

39:05
brain I mean it's it's similar to as

39:08
remember I told you earlier that my

39:09
doctors are like you need to focus your

39:11
bogey is the number five stand what's

39:13
the number five that's your A1C number

39:15
that they want it below and I don't I'm

39:16
not sure any Southerner can get to five

39:20
but without just you totally fasting and

39:24
and withering away to nothing but but I

39:27
want you to I want you to think

39:29
about what goes into your brain that you

39:32
see and I and I listen I thank you so

39:34
much for tuning this in and I'm hoping

39:36
this is informative it's been fun and

39:38
you're waking up a little bit and go hey

39:40
you know that that kind of makes sense

39:41
I'll think about that or I'm not going

39:43
to think about that or he's crazy but

39:45
think about what goes into your brain

39:46
whether it's the news or podcast or

39:48
things like that be careful what goes

39:50
into your brain just like we're careful

39:51
with what goes into our mouth with food

39:54
you know being a person that's focused

39:57
on the A1C number and you know what that

39:59
is if you are those people that's that's

40:01
what they call in the South the sugars

40:03
my grandma's like his sugars are high

40:05
what you know what I'm saying that means

40:08
he's either pre-diabetic or diabetic

40:10
which is sugars well in the South we

40:12
lead with dessert you what's with my mom

40:14
who goes to all these bad chicken dinner

40:16
seminars in Florida she lives close to

40:19
me she'll call and ask what's for

40:21
dessert she got I appreciate all the

40:24
agents that are feeding her four times a

40:25
week in the State of Florida that's

40:27
fantastic fantastic but I think that we

40:28
need to filter as a country what comes

40:31
in our mouth what goes in our brain and

40:34
then take all the emotion out and the

40:35
cortisol out and focus on the money side

40:39
without that emotion knowing that in a

40:42
plan for both either Republican or

40:45
Democrat

40:46
winning I'll leave you with this and I

40:49
want you to think about this if you if

40:51
you've done your research on Mega rich

40:53
people Mega rich and there's there's

40:55
asteris and there's people that don't

40:57
conform to this but the vast majority of

41:00
Mega

41:02
Rich donate some to each

41:06
party and you say well really yeah I

41:09
mean um the Republican nominee I mean

41:12
that they catch him all the time well he

41:14
gave money to this Democrat of course he

41:16
did he's a businessman that's what they

41:18
do and mega rich people give to both

41:20
parties they're hedging their bet what

41:22
I'm asking you to do is take the

41:25
politics out one side's going to win I

41:27
can G I can guarantee one thing one side

41:30
is going to win they're going to win now

41:32
you might not agree with the win or you

41:34
might agree but one side's going to win

41:36
prepare for both sides to win and what

41:40
you're going to do and the interesting

41:42
part about that comment

41:45
is it's probably going to be similar I

41:48
mean there's around the edges there's

41:49
going to be some changes but with your

41:51
money interest rates things available

41:55
stock market annuity offerings

41:58
okay that's going to remain pretty

42:00
constant so make you know what the edges

42:03
are tax law estate planning law those

42:05
type of things like that and you got to

42:07
go to see those guys anyway and ladies

42:09
anyway for that type of

42:11
expertise but what I'm excited about

42:14
going into November at the time it's

42:17
taping it's it's a little bit out before

42:19
uh election

42:21
day is

42:23
hopefully regardless of the outcome

42:25
there's a little less

42:28
animosity and anger toward the other

42:30
side and then secondly is is us the

42:33
annuity man working with our clients to

42:37
make sure that we're talking not about

42:39
politics not about a candidate not about

42:42
a platform not about a convention not

42:45
about a negative ad not about a debate

42:48
not about any of that we're talking

42:50
about the realities of contractual

42:53
guarantees the realities of what

42:55
annuities can provide which is principal

42:57
protection income for Life Legacy

43:00
long-term care p i l l is acronym and

43:03
seeing if that works for you and

43:06
preparing for the

43:09
worst and then enjoying the fruits of

43:11
what's better than that you got to

43:14
prepare and I think you should be

43:16
preparing now that's the reason I

43:18
stepped in from my I would i' would love

43:21
to say from my you know Lear jet that

43:23
was flying around the world no I just

43:25
felt you know after after all of the

43:28
conventions were done that it's time for

43:30
me to talk about this um and I've talked

43:34
about to my staff and the people that

43:37
you'll talk to on the phone and my

43:39
managing director and her the assistant

43:42
managing director and I talked to all

43:44
them this is this is important this is

43:47
important for our clients this is

43:48
important for our future clients this is

43:50
important for people that just watch us

43:51
for insight to to start the planning now

43:56
with the

43:57
understanding that either side can win

43:59
it's going to be a close one I don't

44:00
care what anybody says it is going to be

44:03
close might not be on the electrical

44:05
electral

44:06
electrical electral electrical I man I'm

44:10
against that electrical College son too

44:13
many voltage going on out there no El

44:16
Electoral College it could be it could

44:18
be large in that but from the standpoint

44:21
of votes it's going to be close you know

44:22
we're a 50-50 country at this point in

44:24
time but I'll say this we're 5050

44:27
country but we're 100% when it comes to

44:29
sticking together during chaos remember

44:32
911 I didn't see too many hey you're a

44:34
Democrat I'm not going to help you hey

44:35
you're a rebol I'm not going to help you

44:37
there something in your in your city

44:39
that happens you're going to

44:40
help that's who we are you know if I ran

44:45
for president boy wouldn't that be a

44:46
hoop I I don't see the need for for

44:51
negative ads or putting someone down I

44:53
understand the consultants and all these

44:55
people that say that what that's what

44:58
works I'm dying for dying for someone to

45:03
say I'm not g to talk negative about

45:05
anybody because that person on the other

45:07
side is either a wife or a husband has

45:10
either a wife or a husband has kids has

45:12
family is a person okay is a person and

45:16
if they were being attacked I would you

45:18
know I would defend them I really wish

45:21
should be issues based and also

45:23
pragmatic you know if they win this is

45:25
what I think's going to happen if they

45:26
win I win this is what's going to happen

45:28
and leave it at that and leave it at

45:31
that I I know I'm dreaming and I also

45:34
know that a lot of people out there are

45:36
so struggling that they're voting with

45:38
their pocketbook and they're voting with

45:40
fear and that that's sad I don't know

45:43
how to fix it nobody does but you know

45:46
when it comes to us and us talking like

45:48
this um it's just a fact of life I think

45:51
I read a stat the other day that

45:54
60% of of of Americans adults

45:57
have their net worth in their right

45:59
front pocket in other words they have

46:01
four $400,000 to their name um I think

46:05
the the other stat that blew me away is

46:07
What's called the non

46:08
banked uh a good friend of mine who's a

46:11
consultant very smart guy um he's he he

46:14
and I were talking about this the non-

46:15
banked which means that people like I

46:18
think it's 40 or 50% it's it's a number

46:20
that would stun you don't have checking

46:22
accounts at a bank and one of the things

46:25
about the covid relief it never got got

46:27
to those people cuz they didn't know

46:28
where they didn't have where to send the

46:30
money they didn't I mean they they

46:32
couldn't send it anywhere and a lot of

46:34
these people are unfortunately bless

46:37
their hearts bank at these big huge gas

46:40
stations and do money orders there or

46:42
pay cash um I was in a one of my

46:47
Apartments is uh is is in a is in a

46:49
non-tax state but I was hooking up cable

46:52
Etc and I went into their U office I was

46:56
blown away about how many people were

46:58
paying their cable bill with cash why

47:01
they didn't have a checking account the

47:03
unbanked why am I telling you this

47:06
unbanked 60% of the people out there

47:08
adults with um you know their net worth

47:11
in their front pocket I think 60% of

47:13
seniors or more have $155,000 total you

47:16
know so I always tell people be careful

47:18
who you flip off on the road okay

47:20
because if you flip somebody off that

47:22
has nothing to lose you might be in

47:23
trouble you know have compassion for

47:26
them have a heart for them um but that's

47:29
where we are in politics those are

47:31
that's the pragmatic Outlook that I have

47:35
for the upcoming election somebody's

47:37
going to win you got to prepare for each

47:39
of them to win and what you're going to

47:41
be surprised about is regardless of who

47:43
wins your money decisions will be very

47:47
very similar regardless it might not be

47:50
but if it let's just say it's not then

47:52
you're preparing for that right you're

47:54
preparing for non-qualified spia single

47:58
premium immediate anity income so that

47:59
only a portion of that is tax you're

48:01
preparing for if there's a high tax rate

48:03
you're preparing for migas where you can

48:05
take out interest when needed and let it

48:07
roll tax deferred until you get your

48:10
preferred candidate back in office or

48:12
party back in office there are things to

48:14
do that you can do and that's why when

48:18
they talk about the evil rich you know

48:21
uh I grew up in you know rural North

48:23
Carolina where in rural North Carolina

48:25
to me is like you drive down the road

48:28
and there's a guy on the side of the

48:29
road with a with like a cooker and he's

48:31
cooking barbecue sandwiches and you

48:33
could have gone over there and got

48:34
bought one for a dollar it's the best

48:35
barbecue sandwich in the world why was

48:37
he doing that he's doing that to make a

48:39
little bit little bit more money okay

48:42
but what I want you what I want you to

48:43
do is just prepare take the emotion out

48:47
and if you want to schedule a call with

48:49
us please do please do you're going to

48:52
find that experience unlike anything

48:55
you've ever experience in a quote

48:58
unquote air quote sales world we are the

49:01
place where annuities are are bought not

49:04
sold you purchase them on your terms you

49:07
purchase them on your time frame you

49:09
purchase them without pressure you

49:11
purchase them without all the normal no

49:13
offense to car salesman typical car

49:16
salesman approach where they follow you

49:17
around the lot we're not going to do

49:19
that we respect you this is a decision

49:21
you're buying a contract we're going to

49:23
quote all carriers for the highest

49:25
contractual guarantee and then we're

49:26
going to leave you alone to make the

49:28
decision whether that makes sense for

49:30
you or

49:32
not and that's the way the annuity

49:34
industry is getting ready to go and I'm

49:36
dragging the whole industry across the

49:38
Finish Line with me to get there we will

49:41
get there we are getting there people

49:43
like that approach and you know go to my

49:46
site we got a thousand videos um plus

49:50
and I keep doing these things I've

49:51
written seven books you can get them all

49:52
for free you can get a hat for free I

49:54
think they've reordered someone sent me

49:56
a text the day say I ain't got my hat

49:58
yet I'm like okay let me let me let me

50:00
check on the order I me but you know

50:03
we're having fun okay we're having fun

50:07
with this we're having fun and we're

50:09
enjoying helping people place

50:12
contractual guarantees within their

50:13
portfolio that Mak sense remember if you

50:15
want market growth I don't care what

50:17
anybody tells you don't buy an

50:19
anui and with that let's all think about

50:23
stand the annuity man 2028 the pragmatic

50:26
party

50:27
PP P Squared PP that's not good P

50:30
Squared the pragmatic party boy wouldn't

50:33
that be fun if you got me on a debate

50:35
stage I dominate you know that it

50:37
wouldn't it be fun though it would be

50:39
great but I'm not going to do that

50:41
because I'd have to take a pay cut and

50:43
deal with stupid people as I mentioned

50:45
before listen so glad you tuned in hope

50:48
this helped touch Bas if you want to I

50:52
wish you the best godspeed vote but

50:55
don't get emotional about it my name is

50:57
stany nity man this is fun with the

50:59
nties I'll see you next time

51:06
[Music]