Stan The Annuity Man: The Annuity Man Predictions for 2024

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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 am

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your host Stan the annuity man America's

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annuity agent licensed in all 50

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states so glad you joined us I do not

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have a guest today I'll start back with

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my guest after this episode but I wanted

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to start this episode with the annuity

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man predictions for the year 2024 should

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be an interesting year I'm also going to

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do some political stuff personal stuff

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hopes and dreams for you and all

1:01
that stuff so I'm looking forward to it

1:05
so let's talk about annuities for a

1:08
second and you know just look back

1:11
briefly at 2023 2023 was a was a wild

1:16
year because people found out that there

1:20
are many types of annuities they found

1:22
out that multi-year guarantee

1:26
annuities typically have a higher yield

1:29
than CDs if your duration is longer than

1:32
3 years so if it's three years and out

1:34
CDs CDs do not beat multi-year guarantee

1:37
annuities and multi-year guarantee

1:40
annuities those are the annuity

1:43
Industries version of a CD so everyone

1:45
out there including all the pundit I

1:47
hate all new you know it's so uninformed

1:52
that I think those voices have been

1:53
squashed a little bit because a lot of

1:55
people found out that they can protect

1:57
the principal and get a very good

2:00
guaranteed

2:02
yield on um on their money and and just

2:08
if they didn't need the interest you

2:10
they just tax deferred growth

2:12
compounding if they needed to peel off

2:13
the interest they could so people found

2:17
out that the pitch from a lot of the

2:19
pundits out there that hate all

2:20
annuities never buy an annuity all that

2:23
stuff that rang pretty Hollow in 2023

2:27
because people found out that

2:30
you can you know in addition to Lifetime

2:32
income stream products which you know

2:33
there's four to five depending on how

2:35
you're counting in the annuity World um

2:39
you can protect the principal and get a

2:41
guaranteed interest rate that's pretty

2:43
darn good from really good companies so

2:46
2023 was somewhat of an Awakening for

2:50
the consumer looking at annuities

2:53
through a different lens through a more

2:55
educated lens I'm going to take credit

2:57
for a lot of that because I'm out here

2:58
pounding the table thousands of videos

3:00
seven books this fun with annuities

3:03
podcast that I bring on great guests and

3:05
I also do some free form um commentary

3:09
like I'm doing right now which I think

3:10
is very important because you need to

3:12
know what's coming down the pike in 2024

3:15
I think so 2023 great year for the

3:18
annuity industry you know hopefully they

3:20
will learn that they don't have to be

3:22
fancy simple products sell simple

3:25
products are attractive to people like

3:27
multi-year guarantee annuities and

3:29
immediate annu and those type of

3:31
products but what is going to continue

3:34
in 2024 is what I call the demographic

3:36
Title Wave of baby boomers that hit age

3:40
65 every single day depending on who's

3:43
counting some people say it's 11,000

3:44
some people say it's 12,000 some people

3:47
say it's 13,000 every single day hitting

3:50
age

3:51
65 and the reason that that's important

3:53
for the annuity industry is those people

3:57
are looking for contractual guarantee

4:00
peace those people do not want to put

4:03
their money at risk those people are are

4:06
wanting to do chapter two of their life

4:09
and build the income floor and that the

4:11
income floor is money hitting your bank

4:13
account every single month so you can go

4:15
live your life and and visit your family

4:17
and kids and grandkids and travel the

4:19
world and reward yourself for decades

4:22
and decades and Decades of

4:24
sacrifice not your head so you can take

4:27
care of yourself chapter 2 is about you

4:30
as I always say um the annuity industry

4:34
should benefit from that I'm not sure

4:37
how well they're doing with that except

4:39
for riding my coattails a little bit and

4:41
I'm not being egotistical about it but

4:43
I'm the only one out here talking about

4:44
contractual guarantees I'm the only one

4:46
out there out here that says don't buy

4:50
the hypotheticals or the theoreticals

4:53
own an annuity for what it will do not

4:55
what it might do and on my site at the

4:57
annuity man.com you can can run quotes

5:01
to your heart's content using

5:02
proprietary calculators quoting all

5:04
carriers you know depending on what

5:06
you're looking to do and I always ask

5:08
two questions what do you want the money

5:09
to contractually do and when do you want

5:10
those contractual guarantees to start

5:13
also use an acronym called pill P stands

5:15
for principle protection I stands for

5:16
income for Life L stands for legacy

5:19
other L stands for longterm care

5:21
confinement care if you don't need to

5:23
Sol for any of those four items in the

5:25
pill you do not need an annuity never

5:27
buy an annuity for market growth now I'm

5:29
going to some blowback on that but I

5:30
want you to hear me out I'm going to

5:31
cover those things so the demographic

5:33
tidal way 2024 is going to continue it's

5:36
going to continue on um because people

5:38
want guarantees and that's what

5:40
annuities provide they're contracts

5:42
don't believe it you're going to get a

5:43
policy in the mail if you buy one

5:45
hopefully from us and that policy is a

5:47
contract so by the contractual

5:49
guarantees of the policy the other thing

5:50
too is there's many different types of

5:52
annuities when you strip it down to the

5:54
contractual guarantees of the policy in

5:56
essence you've

5:58
commoditized that strategy which means

6:00
that you can shop all carriers for the

6:02
highest contractual guarantee my opinion

6:05
the annuity industry is going to Triple

6:07
in the next couple years because more

6:10
and more people are following my lead on

6:12
contractual guarantees and understanding

6:15
where annuities fit and they should not

6:18
be bought bought for hypotheticals or

6:20
theoreticals or what I call unicorns

6:21
chasing butterflies making fun of those

6:24
agents and advisers that sell the

6:26
dream um which is sad because you're

6:28
going to get the contractual uh

6:29
guarantees of the policy so let's go

6:31
through each specific type of annuity

6:35
and and kind of my take for 2024 let's

6:37
group the three annuitized products

6:39
which is single premium immediate

6:41
annuities Spas deferred income annuities

6:43
Diaz qualified longevity annuity

6:46
contracts qac they all derive from the

6:49
spia structure which is a no Market

6:52
attachment no moving Parts no annual fee

6:54
transfer risk pension type product uh

6:58
for lifetime income U there's really no

7:01
no Roi until you die all of these

7:04
products um are very simplistic in

7:06
nature you could explain it to a

7:08
nine-year-old no offense to

7:09
nine-year-olds if Warren Buffett ever

7:11
decided to buy annuities the he doesn't

7:13
need them then this would be the type

7:15
because he he's a firm believer of

7:19
understanding what you buy and keeping

7:20
it simple now single premium immediate

7:23
annuities deferred income annuities and

7:24
CAC lifetime income products are

7:26
primarily based on your life expectancy

7:28
or if it's joint life

7:31
expectancies um so it's it's really just

7:34
that they're looking at your life

7:36
expectancy and they're grouping you with

7:38
people your age or ages if it's joint

7:41
and you're sharing and pulling in that

7:42
risk which is mortality credits that's

7:44
an explanation for that so it's you know

7:47
lifetime income is is a combination of

7:49
Return of principle plus interest um so

7:52
you know on our site if you run a

7:54
non-qualified spadia quote you can see

7:57
that interest portion that's being paid

7:59
paid but just remember these are not

8:01
Investments these are contracts these

8:03
are transfer risk contracts that are

8:04
going to pay for as long as you're

8:06
breathing when you buy them for Lifetime

8:08
income my predictions for 2024 for these

8:11
they're going to become very very

8:13
popular as people keep driving towards

8:16
Simplicity with me leading the way and

8:18
the P Piper of annuity Simplicity saying

8:21
that you know these are pension products

8:23
and in a pension lless world where less

8:25
than 9% of companies provide pensions to

8:28
their employers

8:29
um you're going to have to create your

8:31
own pension and that's what immediate

8:33
annuities deferred income annuities and

8:35
qualified longevity annuity contracts do

8:38
um interest rates play a secondary role

8:39
in the pricing we are going to see

8:41
fluctuations obviously in the interest

8:42
rates no one knows where they're going

8:43
to go so please don't ask you just quote

8:46
all carries for the highest contractual

8:48
guarantee and if that guarantee fits

8:49
your goal then Implement lock it in and

8:51
go you're not going to be able to time

8:52
it there's no sweet spot to build it

8:54
ring at the top or the bottom so I think

8:57
Spas Diaz and CAC will be become ever

8:59
more popular um and grow I predicted a

9:03
while back when 2014 when cacs were

9:05
first introduced by the department of

9:07
the treasury and our friends at the IRS

9:09
they're the ones that came up with it to

9:12
use in IRAs because Social Security

9:14
which is the best inflation annuity on

9:16
the planet was never put on the planet

9:18
to be the sole retirement income Source

9:20
even though unfortunately too many

9:22
people use it for that cacs were put on

9:25
the planet so that people can use

9:26
qualified money Ira type money

9:29
to plan for future income starting at a

9:32
future date and they can add their

9:34
spouse using their Ira assets it's a

9:36
great product and I predict down the

9:40
road and I'm a little off of my timing I

9:42
think it's going to be the number one

9:43
selling annuity type on the planet uh

9:46
just because there's so much Ira money

9:49
out there I think once people are

9:51
educated on that they can use their Ira

9:54
money for um lifetime income for both

9:58
them and their significant other they're

10:00
going to lean toward that and you can

10:02
structure so any unused money upon your

10:04
death goes to the beneficiaries it's a

10:05
transfer of risk and the money used in

10:08
the qac is not counted to your required

10:11
minimum distribution calculation so you

10:13
can potentially save on some taxes

10:16
that's a very good combination in my

10:18
opinion and the reason that I predict it

10:20
eventually CX will be the the leader of

10:23
the band here um from the standpoint of

10:25
the industry the only reason it's not is

10:26
the commissions are low and um I don't

10:29
know the agents just has haven't bought

10:31
into but I love that product I was the

10:33
first one to write a book on QX a long

10:35
time ago and I've written a book on

10:37
every single annuity type and you can

10:39
get those books um I think that my my P

10:42
team yells at me because I say download

10:43
it I don't know what all that means in

10:44
other words you can get go to my site at

10:45
theanu man.com and get them for free uh

10:48
we used to mail them out hard copy but

10:51
it got so wild and there was so many

10:53
copies being sent out like thousands and

10:55
thousands a week that it just became we

10:58
became Shi shipping company and that's

10:59
not what we are we're the number one uh

11:02
independent agent in the country that

11:04
would be me and a great team that's

11:06
primarily based in Las Vegas Nevada I'm

11:08
doing this video from our from our

11:10
Florida office which is a smaller office

11:12
but Las Vegas is kind of where the Hub

11:13
is uh so I run in between Vegas and

11:16
Florida so spds and QX I think they're

11:18
going to grow in popularity because

11:20
people want pension type income because

11:22
we live in a pension World um let's go

11:25
over a couple of principal protection

11:27
products I think multi-year guarantee

11:28
annuity

11:29
which are the annuity industry version

11:30
of a CD um those were the go- go product

11:34
and the hot product in 2023 I think

11:36
they're going to continue even though

11:37
rates are coming down a little bit

11:39
people are figuring out that in addition

11:41
to CDs money markets treasuries they can

11:44
add one more product to that principal

11:45
protection category and that's

11:47
multi-year guarantee annuities and the

11:50
difference between that and a CD is CDs

11:52
and a non-qualified account you have to

11:54
pay taxes on the interest every single

11:56
year whereas with multi-year guarantee

11:57
annuities and a non-qualified Nona

11:59
account that that um growth is tax

12:02
deferred doesn't make it better but it

12:04
is it is a way to protect the principal

12:07
and not worry about taxes you know and

12:10
you can buy it Ira Roth IRA non Ira but

12:13
again the rule with Migos is three years

12:15
in in or less than three years I would

12:17
look at CDs more than three years I

12:19
would look at migas just because you're

12:21
trying to maximize the yield the

12:23
contractual guaranteed yield I think the

12:24
migas and migas even though interest

12:27
rates could be fluctuating a little bit

12:29
in 2024 I still think they're going to

12:31
be very very popular with people looking

12:34
for principal protection and very very

12:36
simplistic guarantees that's a great

12:38
product index annuities fixed index

12:40
annuities we're

12:42
we're we use them for as a as a

12:44
simplistic delivery system for income

12:46
Riders we'll talk about income riders in

12:48
a second but index anues will continue

12:50
to be very very popular number one they

12:52
are one of the higher commission

12:54
products out there do make them good or

12:55
bad it just is what it is it is a good

12:58
story when it's when it's hyped a little

13:00
bit you know um the unfortunate story

13:03
that uh is attached to too many index

13:06
annuity proposals is Market upside with

13:09
no downside the word market or stock

13:11
market should never ever be used with

13:13
index annuities because it's not a

13:15
security it's a fixed annuity that's

13:17
regulated at the state level it's a life

13:19
insurance product and it was put on the

13:20
planet in

13:22
1995 um to compete with CDs which it

13:25
really it just historically does um we

13:28
use it again as a efficient and cost

13:30
effective delivery system for income

13:32
Rider guarantees for future income needs

13:34
when you would need to start a future

13:35
dat for Lifetime income but I think the

13:37
index annuity space is going to continue

13:39
to grow because that's where the

13:41
industry gets paid I mean just to be

13:43
very very honest with you that's where a

13:46
lot of the money the commissions the

13:48
overrides the soft money that's where

13:50
that lies and because of that that's

13:53
where the the marketing organizations

13:55
are going to push their agents to sell

13:57
there's there's things like up front

13:59
bonuses that are msold as free money um

14:03
to the uneducated masses unfortunately

14:05
that are retiring um the market upside

14:07
with no downside sales pitch is

14:09
misleading but it's a fun one to say if

14:12
you're going to say it out there as a

14:13
salesperson because it sounds like you

14:15
can have your cake and eat it too you

14:17
cannot but the index annuity space is

14:19
going to continue to grow the income

14:21
writer space and income Rider is not an

14:23
annuity it's income riter is a

14:25
attachment typically to an index annuity

14:27
or variable annuity for future income we

14:29
asked two questions what do you want the

14:30
money to contractually do when you want

14:32
those contractual guarantees to start if

14:34
you say lifetime income and you needed

14:35
to start in the future we're going to

14:38
quote all income writers for the highest

14:40
contractual guarantee and historically

14:42
up until this point index annuities with

14:44
income writers those income writers um

14:47
offer a higher contractual guarantee

14:48
historically than variable annuity

14:50
income writers nothing against those

14:52
income Riders and nothing against

14:53
variable annuities we just don't sell

14:55
anything that has a potential to go down

14:57
and and most variable U ities um have a

15:01
annual fee in that 2 to 4% range

15:03
annually and we just feel that's a lot

15:06
um but you know the income Rider space

15:08
is going to

15:09
grow um exponentially just because of

15:12
the demographic title web of baby

15:13
boomers retiring or people planning on

15:16
retirement and they're looking for

15:17
income at a future dat and the good news

15:19
about income riters is you can change

15:22
the start date it's what I call full

15:23
control lifetime income it's not

15:25
annuitization it's called Draw down draw

15:27
down and and other mean subtraction

15:30
meaning you know your income from any of

15:32
these lifetime income products is a

15:33
combination return or principal plus

15:35
interest but with a netization think of

15:38
Diaz SP Spas Diaz and CAC you're ripping

15:40
the knob off a water faet and the

15:42
water's flowing in this case it's income

15:44
with income writers you can start and

15:45
stop it like a light switch turn it on

15:48
and off you know you don't have to do

15:50
that but it's available to you and

15:51
people say well why would ever do that

15:53
well let's just say we'll get to the

15:55
political stuff later but let's just say

15:56
someone comes up and says okay you rich

15:59
people that own income riters that

16:00
income riter is going to be tax taxed at

16:02
90% And We Just typically we just we'll

16:05
just go in and shut it off until someone

16:07
rational gets an office and and you know

16:09
takes that off the table so income

16:12
writers are going to grow like crazy I

16:13
do think that there's going to be a lot

16:16
of

16:17
innovation uh in the annuity industry

16:20
you know with with so many baby boomers

16:23
10 to 13,000 retiring every single you

16:26
know hitting every age 65 every single

16:29
day you know capitalistic companies want

16:32
to get in front of that money flow they

16:33
want to get in front of all of that and

16:36
they're going to come up with products

16:37
that are good A lot of these products

16:39
that I'm talking about now are what I

16:40
call Legacy products there's not been a

16:42
lot of innovation in the annuity

16:43
industry uh but I think that's getting

16:45
ready to change I think uh with so many

16:48
people looking for guarantees you're

16:50
going to see some good things happen

16:51
it's going to be Pro consumer all I

16:52
would tell you to do is shop all

16:54
carriers don't believe the sales pitch

16:56
believe the contractual guarantees now a

16:58
couple of products that we don't sell um

17:01
variable annuities which I have nothing

17:02
against um they just have a high annual

17:04
fee um if you're going to buy a variable

17:06
annuity I would look at a no load

17:08
variable annuity um you know they were

17:11
put on the planet variable annuities put

17:12
on the planet in 1954 by Tia back then

17:15
it was called Tia C CF um as a way to

17:20
grow your U money tax defer and up until

17:24
a few years ago there was one um no load

17:27
variable annuity that we would Point

17:28
people to we didn't sell it because it

17:30
was a a no load you could buy yourself

17:32
and manage it yourself had four to 500

17:34
really good mutual funds and we just

17:35
said hey go do it if you want to do it

17:37
but that company was purchased by

17:39
another company and that product was

17:40
ruined by the company that purchased it

17:43
we're not going to pull it put up the

17:44
names because you know it is what it is

17:47
but no load variable annuities fine but

17:50
if you you know in my opinion if you

17:51
want to buy mutual funds go buy mutual

17:52
funds you don't have to wrap it in a

17:54
wrapper if you don't want to or you

17:56
don't have to and pay the 3% annual fee

17:59
um then the newest one is a is a what's

18:01
called a RI registered index link

18:04
annuity very complicated um you know if

18:06
you want to talk to us about it you can

18:08
but we do not sell those products um

18:10
some people call them buffer annuities

18:12
those are going to become very very

18:13
popular because it takes a what they

18:16
call in the business Series 6 type

18:18
license Securities type license to sell

18:20
it um so those broker types and having

18:24
you know I used to work at Dean wpan

18:26
Weber Morgan Stanley UBS I get it

18:29
um they will be selling the heck out of

18:31
rius for the commission and the fact

18:33
it's a pretty interesting story but

18:37
complicated very very complicated um and

18:40
I hope that that space that rile of

18:42
space gets more simplistic so if it does

18:45
we'll look at it but again we only look

18:47
at contractual guarantees and riers are

18:49
all about hypotheticals and theoreticals

18:51
and back tested Etc the other annuity

18:54
that I would probably encourage you to

18:55
look at it's not something we sell is is

18:57
a charitable gift annuity cgas and if

19:00
you have a favorite nonprofit University

19:03
um 501c3 that you give to they probably

19:06
have a division that offers um

19:10
charitable gift annuities and there's

19:11
some great tax benefits if you want to

19:13
get a lifetime income stream yet and

19:15
also at the same time donate to a to a

19:19
charity um I've worked with a lot of

19:21
colleges on that helping them promote

19:24
their charitable gift annuities um a lot

19:26
of 501 c3s I help them you know with

19:29
that because they're annuities they're

19:31
lifetime income streams all I can tell

19:32
you is that just make sure that the

19:36
underlying 501c3 charity nonprofit Good

19:39
Old State you whoever you're giving the

19:40
money to they can back up the claim

19:42
because that's you you're giving them

19:43
money and that's in essence um you know

19:46
who's going to be providing the payment

19:48
but it's a highly regulated area it's

19:51
not the Wild Wild West I would encourage

19:53
you if you have philanthropic Tendencies

19:55
to go in that direction so those are

19:58
kind of the products and I do think

20:00
there'll be new products out there I

20:02
mean people like Wade fou M meski who've

20:04
been on my fun with annuities podcast

20:06
Michael FAA those type of David

20:08
Blanchett those type of thought leaders

20:10
they're always pushing the envelope to

20:12
see if the annuity industry can come up

20:14
with a better product for the consumer

20:16
and like I said I do think there will be

20:17
those Innovations coming um and

20:20
obviously we're going to represent those

20:21
companies all those compies will want

20:22
the annuity man to represent them and

20:24
tell the truth about that product so we

20:26
look forward to that um as so the

20:28
annuity industry is going to grow

20:30
whether they want it or not if they

20:31
follow my lead it'll triple if they

20:34
don't it'll probably double um if they

20:36
follow my lead probably triple or

20:37
quadruple but and my lead would be

20:39
contractual guarantees only with that

20:41
message going to all of the retirees and

20:43
people looking for guarantees as for the

20:45
annuity man um you know I'm just I'm

20:50
Blown Away by our growth I'm very proud

20:52
of what we built um we have a great team

20:54
I have a great management team I'm

20:56
surrounded by great consultants and

20:57
great great minds um I'm kind of the

21:00
Visionary of this whole thing uh some of

21:02
you have been with me from the start you

21:03
saw me speaking at shows and traveling

21:06
traveling in my car a long time ago I

21:09
had a little hybrid car that I you know

21:11
put 275,000 miles on and I flew all over

21:15
um but the annuity man's going to grow

21:18
um we are hiring all the time we are

21:20
growing um we are the leader and the

21:24
directed consumer model I hope that the

21:28
the industry keeps going in the direct

21:29
of the consumer model um everything that

21:32
we do is for the the possibility in the

21:35
future of of people being able to buy

21:38
annuities truly direct um right now you

21:42
have to have a

21:43
licensed um agent or person that's

21:46
passed the the test on the phone with

21:48
you every single person in my in my

21:50
building has a has passed the test or

21:52
they're not in my building so they're

21:53
licensed so you know but eventually I

21:56
think we're going more and more to a

21:58
direct consumer model like an erade and

22:01
like um you know like those platforms

22:04
give you a great story when I was at

22:06
Dean wood a long long time ago and this

22:08
is before eade or any of the online

22:10
platforms where you could do eight

22:12
tradeing now it's you don't have to pay

22:14
but back then it was like when E Trade

22:16
and those people came out it was like $8

22:18
a trade I remember when I was with Dean

22:21
wter one of the Grand Puba leaders from

22:24
New York flew in to talk to some of the

22:26
some of us people that were the bigger

22:28
producers and said hey um we really

22:31
don't think these you know this online

22:32
stuff is going to be a threat to us you

22:34
know people still want advice and I'm

22:37
thinking to myself that doesn't make any

22:39
sense to me there's no reason someone's

22:41
going to call me and buy a stock or sell

22:43
a stock and me charge them you know h100

22:44
to $400 commission which is kind of what

22:47
that old school stuff was back in the

22:49
day transactional stuff when they can

22:50
buy for 8 and kind of got an argument

22:53
with that person and I just thought

22:55
right then I said this business model

22:57
and they don't get it of course we know

22:59
what happened now you know trading

23:01
stocks is a commodity you know back

23:03
there's no more of that you know

23:05
transactional h100 to $400 commission to

23:07
sell a stock if you're a stock broker

23:10
Etc there there are no more you know

23:12
quote unquote stock Brokers I had the

23:14
same Eerie feeling and and um

23:17
predictions for the annuity industry

23:19
everyone tells me no no no Stan this

23:21
can't happen there's no there no way and

23:24
my Visionary approach to life which is

23:27
simplicity

23:28
I'm thinking now I think I think it's

23:29
going to one of the reasons that the

23:31
anity man continues to grow is every

23:33
decision we make is for the consumer I

23:35
know that sounds sappy and made up but

23:37
it's really not we're we're really

23:39
trying to put ourselves in your shoes if

23:41
you're out there running using our

23:43
calculators How would how do we think

23:45
you should you would want to see it and

23:48
and we do something different unique if

23:49
you haven't run on their site go there

23:51
and you'll see it um the videos when I

23:54
decided to do videos and we're thousands

23:56
in now and I keep doing them I did that

23:59
not to not to sell even though we do

24:00
sell more than anyone but but it's to

24:02
educate there's never a time ever on my

24:05
thousands of videos that I've mentioned

24:06
a specific product or a specific carrier

24:08
or a specific thing that I would like

24:10
for you to buy it's not some bad chicken

24:12
dinner seminar on a video I'm literally

24:14
trying to educate you to see for you to

24:17
understand how these work and if they

24:19
make sense for you and you're going to

24:20
make that decision on your terms in your

24:22
time frame that business model for the

24:24
annuity man is going to continue and the

24:27
other thing which is the ba most basic

24:29
part of the annuity man and I know this

24:30
is going to sound sappy as well but by

24:32
now if you watch some of my videos you

24:34
know I'm not playing around our whole

24:36
thing is just to tell the truth my

24:37
grandfather Hunter Garrison told me a

24:39
long time ago if you tell the truth you

24:42
don't have to remember anything

24:44
Stan duh that's it we'll tell the truth

24:48
and we won't bluff if we don't know the

24:49
answer we'll go find it but we're not

24:50
going to Bluff you and it's really that

24:52
simple that's our you know that's that's

24:54
our Mantra now the will do not might do

24:57
is the the contractual guarantees we

24:59
strip it down to the contractual

25:00
guarantees so that we turn all of these

25:02
products into Commodities so that we can

25:04
go shop using our calculators for the

25:07
highest contractual guarantee for your

25:08
specific situation there is no best

25:10
product there's no best type there's no

25:13
best one there's no best carrier the

25:16
best one is the highest contractual

25:17
guaranteed number for your specific

25:19
situation yes we do look at the carrier

25:21
strength Etc but if you strip it down

25:24
that simply when you're looking at

25:26
annuities new all annuity types this is

25:29
easy the only thing complicated that I

25:31
found about the annuity industry is the

25:33
annuity industry itself and how they try

25:35
to get agents and advisors to sell their

25:38
product or their specific

25:40
offering these are contracts you base

25:42
your decision on the contractual

25:44
guarantee

25:45
so the annuity man shoot I mean we're

25:48
going to be here for a long long time

25:51
you know if my lyet hits the mountain

25:52
there's plans in place for continuation

25:56
uh these these videos are going to

25:57
continue to grow and grow and grow and I

25:59
you know I keep do doing them and coming

26:01
up with ideas primarily from you when we

26:03
talk to you and you give us the ideas to

26:05
come over with the videos someone

26:07
actually gave us this is have Stan give

26:09
us predictions for for on fun with the

26:11
nties I'm like okay I'll do that because

26:12
I had some guest lineup like hey let's

26:14
put this off let me do this real quick

26:16
so let's get to the um you know that's

26:19
the annuity industry the annuity

26:20
industry is simple these are contracts

26:22
you know we use the two questions we use

26:24
the pill acronym um we we use our ears

26:27
and mouth in proportion when we talk

26:29
with you so that you know we're not

26:32
afraid to tell you you don't need an

26:34
annuity we're not afraid to tell you

26:35
that youve bought too many already in

26:38
the annuity industry by the way

26:40
suggests strongly that you do not use

26:43
more than 50% of your investable assets

26:45
in annuities okay can we push a little

26:47
bit farther maybe get you to 60 maybe if

26:50
there's a good reason we we we take that

26:52
bullet but that does not include your

26:53
house car or guitar that you know you

26:56
got to be very careful ful when agents

27:00
um fill out applications because they're

27:02
putting down net worth as house and land

27:04
no no no the annuity industry is looking

27:06
at your investable assets so if you have

27:08
a million doll house and a million

27:11
dollars in um in you know stocks and

27:13
bonds and mutual funds you that doesn't

27:16
mean that you can put a million dollars

27:17
in a new that means you can put half

27:19
million dollars in new that doesn't mean

27:20
you have to but that's the way to look

27:22
at it it's

27:23
investable assets so just be careful

27:27
there that I think one of the issues the

27:29
annuity industry has to address

27:31
eventually is just the qualification

27:33
standards and the education standards

27:36
for people that sell annuities because

27:37
right now in my opinion the bar is

27:39
pretty low and but that's coming from me

27:41
coming from a Securities background

27:43
where those tests are really hard to

27:45
pass you you have to know your stuff uh

27:49
with you know the fixed index or the the

27:51
fixed side especially in the fixed index

27:53
world you know that falls under the

27:55
fixed side you just have to pass a state

27:57
exam you know and I and typically get a

27:59
70 on it or 80 on it um and I'm not sure

28:03
that is a high enough bar but maybe it

28:05
is um and maybe with these videos uh we

28:08
can educate the consumer so that they

28:10
don't fall for sales pitches and they

28:12
don't fall for the too good to be true

28:14
you know bad chicken dinner expensive

28:15
steak dinner stuff so uh I can predict

28:19
that we'll never going to do a food

28:20
seminar I know that's never going to

28:22
happen um but we're going to continue to

28:24
do videos we're going to continue to

28:26
listen to you I'm going to continue need

28:27
to write um and travel and figure out

28:30
what the consumer really needs and be a

28:33
spokesperson for the annuity industry I

28:35
am America's annuity Asian I have made

28:37
myself that because no one else took the

28:39
Mantra I'm taking the Mantra and so I'm

28:41
going to set the stage out here and set

28:43
the bar on how these products should be

28:46
sold and from the consumer how they

28:48
should be considered when thinking about

28:51
purchasing so let's talk about some fun

28:53
stuff um presidential election let's get

28:57
there I'm not um you know I'm not either

28:59
left or right I'm I'm not even sure I'm

29:02
Center I'm just I'm just

29:04
watching um one thing I can predict is a

29:07
really looks like a really old person's

29:09
going to win in 2024 nothing against

29:11
really old people but I'm just going to

29:13
tell you right now um when I'm 75 and

29:17
above you don't want me running the

29:18
annuity man tell you you just don't I

29:21
won't be hitting in all cylinders I hope

29:23
in the future that we can get some uh

29:25
some clarity around that and get some

29:26
younger people in there that um that can

29:29
run things Etc but as you know with this

29:32
country we're a strong country and you

29:35
know we're going to survive we're going

29:36
to be fine um I'm not a Gloom and Doomer

29:39
I'm a glass half full person so U you

29:42
know the election year is going to be

29:43
interesting and typically in the

29:44
election years historically annuities

29:47
have not have just kind of stayed the

29:49
course I don't see a lot of changes in

29:51
the annuity industry during the election

29:52
year I think after that there could be

29:55
some but I don't think you're going to

29:56
see a lot of things things happening in

29:58
the annuity industry so lock lock in

30:00
those guarantees I think the the

30:02
guarantees that are out there are are

30:04
favorable and fair and you know so many

30:07
people that are retiring and looking for

30:08
guarantees the industry is clamoring to

30:12
attract your money contractually and so

30:14
they're going to do the best they can to

30:17
offer the contractual guarantees making

30:18
sure they can back those up and that's

30:20
the reason you got to shop all carriers

30:22
for the highest contractual guarantee

30:24
because you know some some of those

30:25
tranches get filled up with age range es

30:27
and then the other companies come in and

30:29
you can go to those other companies and

30:30
it keeps it's a it's a nice consumer

30:33
cycle but politically you know it's

30:35
going to be it's going to be messy this

30:38
year as we know um and I don't you know

30:42
one of the things about contractual

30:43
guarantees is those are not affected

30:45
like market products and that's the

30:47
reason I think that kind of your move to

30:49
that contractual guaranteed space will

30:51
be a good one especially the in these

30:53
volatile

30:54
world events that we're living in on a

30:57
personal note I just want to I don't

31:00
know for me um you guys know that I'm

31:02
just I'm full out 100 miles an hour I'm

31:05
hoping to um you know focus on the

31:07
health focus on the family you know my

31:09
my daughters are growing older I want to

31:12
hang out with them get to know them and

31:14
their their significant others better

31:16
you know my wife of 35 years Miss

31:18
Christine is

31:19
fantastic and um you want to spend more

31:21
time with her um I have a great team in

31:24
place I mean I'm in it daily but you

31:26
know I just need to get healthier you

31:28
know um from all those days playing

31:31
college sports I'm limping around a

31:32
little bit trying to get healthy trying

31:34
to get my life in order and trying to be

31:37
I told my wife my present to her is to

31:38
be present and to you know just be a

31:41
better better father a better husband a

31:44
better person a better friend a better

31:47
um agent a better advisor a better

31:49
owner um to my team and just be

31:53
appreciative for what we have I think

31:55
that um on my soapbox a little bit I

31:58
really wish the the country would

32:00
appreciate the blessings that we have

32:02
and and I think that's important it's

32:04
always easy to be in a negative mode um

32:09
and and get our emotions in the way of

32:11
reality and I hope you know we can

32:13
all kind of be better at that nod your

32:16
head you're probably in the same place

32:18
if you're in chapter two of your life

32:19
and retirement I want you to maximize

32:21
the day I want you to start structuring

32:23
your day for fun and for relaxation and

32:27
for reflection and for you know

32:29
meditation whatever that means to you

32:32
quiet time with your thoughts um taking

32:35
care of yourself life is fleeting we all

32:37
know that we all have friends we're all

32:39
at the age where people are passing away

32:40
and it just shocks the heck out of us um

32:43
if you know we get wakeups wakeup calls

32:45
all the time um but the older I get the

32:49
more I appreciate everything you know

32:52
good and bad everything not life's not

32:54
perfect as we know um My Wish wishes for

32:57
you as is to not be afraid to call us

33:01
not be afraid to interact with us we're

33:02
not a hammer looking for a nail my

33:04
organization we literally are listening

33:06
to you um none of my people are on some

33:10
type of commission bonus structure

33:13
whatever you know we we uh they're

33:15
salaried and you know they're good

33:17
people and they're they're trying to

33:18
help um you know and really we just we

33:21
we love being the I guess the antivenom

33:25
to all the bad sales practic that are

33:27
out there in the annuity industry which

33:28
we hope to clean up by leading the way

33:31
instead of complaining about it and I do

33:32
a lot and sometimes you know my

33:35
consultants and and management team gets

33:37
on me because I am railing because I I

33:40
get mad when people are taking advantage

33:42
of but I think this year we're going to

33:44
just focus on trying to be the leader of

33:45
the industry which we are and try to set

33:47
the stage and the tone for the fact that

33:51
these are great contractual guaranteed

33:52
products and if placed correctly they

33:55
work fantastic and your portfolio um on

33:58
a closing note and I'll leave you with

34:00
this I want you to consider something

34:02
that I'm trying to do is is turn off the

34:06
television um I'm I'm not watching

34:10
sports and I'm not watching I'm not

34:12
saying you do this I'm just telling you

34:13
what I'm doing I'm not watching

34:15
political commentary or sports or

34:16
listening to any of that because at the

34:19
end of the day it doesn't matter I mean

34:21
it really doesn't I I think you need to

34:23
focus on your health and your family um

34:25
and and part of the focus on your family

34:27
is setting these contractual guarantees

34:29
up so that you know when when you pass

34:31
that they're taken care of we love to

34:33
help you with that type of continuation

34:35
planning but kind of look at your day

34:37
and look at your habits and look at the

34:38
things that you can work on and try to

34:41
eliminate and the things that could be

34:43
addictive you know for me I was you know

34:45
always watching sports because that's

34:47
how I grew up with my father and my

34:48
mother both coaches you know that's how

34:50
you grew up I'm I'm going on to chapter

34:52
two of my life without that um I think

34:54
I've seen every play it's all good maybe

34:57
I'll watch a national championship game

34:59
but I just missed the last one I didn't

35:00
watch it at all I was watching a movie

35:02
really enjoyed the movie but um you know

35:05
let's let's kind of void ourselves of

35:07
politics and void ourselves of sports

35:09
and those things and and spend quality

35:12
time always tell people think of the

35:14
dumbest person you know or have ever met

35:16
in your life and that person's vote just

35:19
nullified yours so you know we talk

35:22
about politics you know I I encourage

35:25
everyone to vote but you know life and

35:28
death is not politics and yes things

35:31
those people do affect us but that's not

35:35
that's not what drives the train every

35:36
day so you know 2024 is going to be a

35:39
great year for you it's going to be a

35:41
great year for me it's going to be a

35:43
great year for the annuity man and it's

35:45
going to be a great year for the annuity

35:47
industry um whether they whether they go

35:50
in my direction or not it will hopefully

35:52
they'll just keep going in my direction

35:53
with contractual guarantees I encourage

35:56
you to go to my site get my books run

35:58
quotes using our calculators book a call

36:01
watch the videos read the

36:03
blogs um tune in to these podcasts I'm

36:06
gonna I'm gonna I've got a great lineup

36:08
of guests that's coming in this year

36:10
that's looking forward to sharing their

36:11
insights and that'll be fun uh and it's

36:14
called fun with annuities I remember we

36:16
first came up with that you know it was

36:18
a great idea I'm like yeah let's let's

36:19
call it fun with annuities because

36:20
nobody in the world thinks annuities are

36:22
fun but actually they are the way that

36:25
we look at them contractual guarantee

36:27
and we do have fun with them because I'm

36:28
kind of a glass half full guy my name is

36:30
Stan the annuity man I'm getting older

36:32
yes you're seeing some gray hair I know

36:34
and no I'm not going to color it unless

36:36
it's like red or something uh I'm still

36:39
going to be you know the walking middle

36:41
finger of annuity truth out here someone

36:43
called me that a long time ago I embrace

36:45
that I am going to be brutally factual

36:47
so is my team but we're going to take

36:49
care of you we're going to do what's

36:51
right every single time thanks again for

36:54
joining fun with annuities let's have a

36:55
great 202 24 together see you on the

36:59
next fun with annuities with Stan the

37:01
annuity man take

37:07
care