Stan The Annuity Man: The Annuity Man Predictions for 2024 (TAM Classic)

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[Music]

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welcome to fun with thei where every

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single week I welcome a celebrity guest

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expert that can help you maximize

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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

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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 than CDs if your duration is longer

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

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

1:37
guarantee annuities and multi-year

1:39
guarantee

1:40
annuities those are the annuity

1:43
Industries version of a CD so everyone

1:45
out there including all the pundits 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

1:58
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 you can

2:30
you know in addition to Lifetime income

2:32
stream products which you know there's

2:34
four to five depending on how you're

2:36
counting in the annuity World um you can

2:40
protect the principal and get a

2:41
guaranteed interest rate that's pretty

2:43
darn good from really good company 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 annuities and those type of

3:31
products but what is going to continue

3:33
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 65 and the reason that that's

3:53
important for the annuity industry is

3:56
those people are looking for contractual

3:59
guarantee

4:01
those people do not want to put their

4:04
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 run quotes to

5:01
your heart's content using proprietary

5:03
calculators quoting all carriers you

5:05
know depending on what you're looking to

5:07
do and I always ask two questions what

5:08
do you want the money to contractually

5:10
do and when do you want those

5:11
contractual guarantees to start also use

5:13
an acronym called pill peace stands for

5:15
principal protection I stands for income

5:16
for Life L stands for legacy other L

5:19
stands for longterm care confinement

5:22
care if you don't need to Sol for any of

5:24
those four items in the pill you do not

5:26
need an annuity never buy an annuity for

5:27
market growth now I'm going to get

5:29
blowback on that but I want you to hear

5:31
me out I'm going to cover those things

5:32
so the demographic tial wave 2024 is

5:35
going to continue it's going to continue

5:37
on um because people want guarantees and

5:40
that's what annuities provide they're

5:41
contracts don't believe it you're going

5:43
to get a policy in the mail if you buy

5:45
one hopefully from us and that policy is

5:47
a 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 straty stry which

6:00
means that you can shop all carriers for

6:02
the highest contractual guarantee my

6:05
opinion the annuity industry is going to

6:06
Triple in the next couple years because

6:10
more and more people are following my

6:12
lead on contractual guarantees and

6:14
understanding where annuities fit and

6:17
they should not be bought bought for

6:19
hypotheticals or theoreticals or what I

6:21
call unicorns chasing butterflies making

6:23
fun of those agents and advisers that

6:25
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 qacs 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 like time 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 join 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

8:00
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 the build it

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

8:57
Spas Diaz and CAC will become ever more

9:00
popular um and grow I predicted a while

9:03
back when 2014 when cacs were first

9:06
introduced by the department of the

9:08
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 to plan

9:30
for future income starting at a future

9:33
date and they can add their spouse using

9:35
their Ira assets it's a great product

9:37
and I predict down the road and I'm a

9:40
little off of my timing I think it's

9:42
going to be the number one selling

9:44
annuity type on the planet uh just

9:47
because there's so much Ira money out

9:49
there I think once people are educated

9:52
on that they can use their Ira money for

9:56
um lifetime income for both them and

9:58
their sign ific other they're going to

10:00
lean toward that and you can structure

10:02
so any unused money upon your death goes

10:04
to the beneficiaries it's a transfer of

10:06
risk and the money used in the CAC is

10:10
not counted to your required minimum

10:12
distribution calculation so you can

10:14
potentially save on some taxes that's a

10:16
very good combination in my opinion and

10:18
the reason that I predict it eventually

10:20
CX will be the the leader of the band

10:23
here um from the standpoint of the

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

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

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

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

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

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

10:37
single annuity type and you can get

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

10:42
yells at me because I say download it I

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

10:44
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 shipping company and that's not

10:59
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 qlex 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
annuities which are the annuity industry

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

11:34
product and the hot product in 2023 I

11:36
think they're going to continue even

11:37
though rates are coming down a little

11:38
bit people are figuring out that in

11:40
addition to CDs money markets treasuries

11:43
they can add one more product to that

11:45
principal protection category and that's

11:47
multi-year guarantee annuities and the

11:50
difference between that and CD is CDs in

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

11:54
taxes on the interest every single year

11:56
whereas with multi-year guarantee

11:57
annuities and a non-qualified non IR

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 principle

12:07
and not worry about taxes you know and

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

12:13
again the rule with Migos is you three

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

12:17
would look at CDs more than three years

12:19
I would look at migas just because

12:20
you're 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 Andis 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
inity proposals is Market upside with no

13:09
downside the word market or stock market

13:11
should never ever be used with index

13:14
annuities because it's not a security

13:15
it's a fixed annuity that's regulated at

13:18
the state level it's a life insurance

13:19
product and it put on the 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 again as a efficient and

13:30
cost-effective delivery system for

13:32
income Rider guarantees for future

13:33
income needs when you would need to

13:35
start a future date for Lifetime income

13:37
but I think the index annuity space is

13:38
going to continue to grow because that's

13:41
where the industry gets paid I mean just

13:43
to be very very honest with you that's

13:45
where a lot of the money the commissions

13:47
the overrides the soft money that's

13:50
where that lies and because of that

13:52
that's where the the marketing

13:54
organizations are going to push their

13:55
agents to sell there's there's things

13:58
like upfront bonuses that are Miss sold

14:01
as free money um to the uneducated

14:04
masses unfortunately that are retiring

14:06
um the market upside with no downside

14:08
sales pitch is misleading but it's a fun

14:11
one to say if you're going to say it out

14:13
there as a salesperson because it sounds

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

14:16
too you cannot but the index annuity

14:19
space is going to continue to grow the

14:21
income writer space and income writer is

14:23
not an 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

14:33
this contractual guarantees to start if

14:34
you say lifetime income and you need it

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 riters those income riters um

14:47
offer a higher contractual guarantee

14:48
historically than variable annuity

14:50
income riters nothing against those

14:52
income writers 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 annuities

14:59
um have a annual fee in that 2 to 4%

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

15:05
lot um but you know the income Rider

15:08
space is going to

15:09
grow um exponentially just because of

15:12
the demographic tile web of baby boomers

15:14
retiring or people planning on

15:16
retirement and they're looking for

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

15:19
about income writers is you can change

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

15:23
control lifetime income it's not

15:25
anization it's called Draw down draw

15:27
down in in southern means subtraction

15:30
meaning you know your income from any of

15:32
these lifetime income products is a

15:33
combination of return or principal plus

15:35
interest but with a netization think of

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

15:40
the knob off a water fet and the water's

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

15:44
income writers you can start and stop it

15:46
like a light switch turn it on and off

15:49
you know you don't have to do that but

15:50
it's available to you and people say

15:52
well why would ever do that well let's

15:53
just say we'll get to the political

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

15:57
comes up and says okay all you people

15:59
that own income riters that income riter

16:01
is going to be tax taxed at 90% And We

16:03
Just typically we'll just we'll just go

16:05
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 sing

16:28
single day you know capitalistic

16:31
companies want to get in front of that

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

16:34
all of that and they're going to come up

16:37
with products that are good A lot of

16:38
these products that I'm talking about

16:39
now are what I call Legacy products

16:41
there's not been a lot of innovation in

16:43
the annuity industry but I think that's

16:45
getting ready to change I think uh with

16:47
so many people looking for guarantees

16:49
you're going to see some good things

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

16:52
I would tell you to do is shop all

16:54
carriers don't believe the sales pitch

16:56
believe the contractual guarantees now

16:58
couple 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 deferred and up

17:24
until a few years ago there was one um

17:26
no load variable annuity that we would

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

17:29
because it was a a no load you can buy

17:32
yourself and manage it yourself had four

17:33
to 500 really good mutual funds and we

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

17:37
it 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 you don't

17:56
have to and pay the 3% annual fee um

17:59
then the 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 um

18:29
they will be selling the heck out of

18:31
rias 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 riy of space

18:42
gets more simplistic so if it does we'll

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

18:47
contractual guarantees and rias are all

18:49
about hypotheticals and theoreticals and

18:51
back tested Etc the other annuity that I

18:54
would probably encourage you to look at

18:56
it's not something we sell is is a

18:57
charitable gift

18:59
cgas and if you have a favorite

19:01
nonprofit University um 501c3 that you

19:05
give to they probably have a division

19:07
that offers um charitable gift annuities

19:11
and there's some great tax benefits if

19:13
you want to get a lifetime income stream

19:15
yet and also at the same time donate to

19:18
a to a charity um I've worked with a lot

19:21
of 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
underline 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 will 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 thinka 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 companies 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
commity 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

20:58
great mind

20:59
um I'm kind of the Visionary of this

21:00
whole thing uh some of you have been

21:02
with me from the start you saw me

21:04
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

21:21
growing um we are the leader in the

21:24
directed consumer model I hope that the

21:27
annuity industry keeps going in the

21:29
direct of the consumer model um

21:31
everything that we do is for the the

21:34
possibility in the future of uh people

21:37
being able to buy annuities truly direct

21:41
um right now you 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 eade and

22:01
like um you know like those platforms

22:05
give you a great story when I was at

22:06
Dean w a long long time ago and this is

22:08
before erade or any of the online

22:11
platforms where you could do 8 tradeing

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

22:14
then it was like when E Trade and those

22:16
people came out it was like $8 a trade I

22:19
remember when I was with Dean W one of

22:22
the Grand Puba leaders from New York

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

22:26
us people that were the 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 $100

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 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 $1 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 it's no way and

23:24
my Visionary approach to life which is

23:27
simplicity I'm thinking no I think I

23:29
think it's going to one of the reasons

23:31
that the anity man continues to grow is

23:33
every decision we make is for the

23:34
consumer I know that sounds sappy and

23:36
made up but it's really not we're we're

23:38
really trying to put ourselves in your

23:40
shoes if you're out there running using

23:43
our calculators How would how do we

23:45
think you should you would want to see

23:47
it and and we do something different

23:49
unique if you haven't run on their site

23:50
go there and you'll see it um the videos

23:54
when I decided to do videos and we're

23:56
thousands in now and I keep doing them I

23:58
did that not to not to sell even though

24:00
we do sell more than anyone but but it's

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

24:05
my thousands of videos that I've

24:06
mentioned a specific product or a

24:08
specific carrier or a specific thing

24:10
that I would like for you to buy it's

24:11
not some bad chicken dinner seminar on a

24:13
video I'm literally trying to educate

24:15
you to see for you to understand how

24:18
these work and if they make sense for

24:20
you and you're going to make that

24:21
decision on your terms and your time

24:22
frame that business model for the

24:24
annuity man is going to continue and the

24:27
other thing which is the most basic part

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

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

24:33
if you watch some of my videos you know

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

24:36
is just to tell the truth my grandfather

24:38
Hunter Garrison told me a long time ago

24:40
if you tell the truth you don't have to

24:42
remember anything

24:44
St 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 contractual guarantees we strip

24:59
it down to the contractual guarantees so

25:01
that we turn all of these products into

25:03
Commodities so that we can go shop using

25:06
our calculators for the highest

25:07
contractual guarantee for your specific

25:09
situation there is no best product

25:11
there's no best type there's no best one

25:14
there's no best carrier the best one is

25:16
the highest contractual guaranteed

25:18
number for your specific situation yes

25:20
we do look at the carrier strength Etc

25:23
but if you strip it down that simply

25:26
when you're looking at annuities new all

25:27
annuity types this is easy the only

25:30
thing complicated that I found about the

25:32
annuity industry is the annuity industry

25:34
itself and how they try to get agents

25:36
and advisers to sell their product or

25:38
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 lyette 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 up with the videos someone actually

26:07
gave us this is have St give us

26:09
predictions for for on fun with

26:11
annuities I'm like okay I'll do that

26:12
because I had some guess onine up like

26:14
hey let's put this off let me do this

26:16
real quick so let's get to the um you

26:18
know that's the annuity industry the

26:20
annuity industry is simple these are

26:21
contracts you know we use the two

26:23
questions we use the pill acronym U we

26:27
we use our ears and mouth in proportion

26:29
when we talk with you so that you know

26:32
we're not afraid to tell you you don't

26:33
need an annuity we're not afraid to tell

26:35
you that you 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 when

26:59
agents um fill out applications because

27:01
they're putting down net worth as house

27:03
and land no no no the annuity industry

27:05
is looking at your investable assets so

27:07
if you have a million doll house and a

27:10
million dollars in um in you know stocks

27:13
and bonds and mutual funds you that

27:15
doesn't mean that you can put a million

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

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

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

27:21
look at it it's

27:23
investable assets so just be careful out

27:27
there 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 to

28:27
write

28:28
um and travel and figure out what the

28:31
consumer really needs and be a

28:33
spokesperson for the annuity industry I

28:35
am America's anity asan 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

28:58
you know I'm not either left or right

29:01
I'm I'm not even sure I'm Center I'm

29:02
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 I 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 um 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 happening in in the

29:58
annuity industry so lock lock in those

30:01
guarantees I think the the guarantees

30:02
that are out there are are favorable and

30:05
fair and you know so many people that

30:07
are retiring and looking for guarantees

30:09
the industry is clamoring to attract

30:12
your money contractually and so they're

30:14
going to do the best they can to offer

30:17
the contractual guarantees making sure

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

30:20
reason you got to shop all carriers for

30:22
the highest contractual guarantee

30:24
because you know some some of those

30:25
tranches get filled up with age ranges

30:27
and then other companies come in and you

30:29
can go to those other companies and it

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

30:34
but politically you know it's going to

30:36
be it's going to be messy this year as

30:38
we know um and I don't you know one of

30:42
the things about contractual guarantees

30:44
is those are not affected like market

30:46
products and that's the reason I think

30:48
that kind of your move to that

30:50
contractual guaranteed space will be a

30:51
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 pull 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 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 little book 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

32:14
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 wishes for you

32:58
as is to not be afraid to call us not be

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

33:03
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 anti-venom

33:25
to all the bad sales practices 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 in your portfolio

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

34:00
with this I want you to consider

34:02
something that I'm trying to do is is

34:05
turn off the television um I'm I'm not

34:09
watching sports and I'm not watching I'm

34:12
not saying you do this I'm just telling

34:13
you 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 focusing on your

34:27
family is setting these contractual

34:28
guarantees up so that you know when when

34:30
you pass that they're taken care of we

34:32
love to help you with that type of

34:34
continuation planning but kind of look

34:36
at your day and look at your habits and

34:38
look at the things that you can work on

34:40
and try to eliminate and the things that

34:42
could be addictive you know for me I was

34:45
you know always watching sports because

34:46
that's how I grew up with my father and

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

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

34:51
chapter two of my life without that um I

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

34:57
maybe I'll watch a national championship

34:58
game but I just missed the last one I

35:00
didn't watch it at all I was watching a

35:02
movie really enjoyed the movie but um

35:05
you know let's let's kind of void

35:06
ourselves of politics and void ourselves

35:08
of sports and those things and and spend

35:11
quality time I always tell people think

35:13
of the dumbest person you know or have

35:15
ever met in your life and that person's

35:18
vote just nullified yours so you know we

35:22
talk about politics you know I I

35:25
encourage everyone to vote but you know

35:28
life and death is not politics and yes

35:30
things those people do affect us but

35:34
that's not that's not what drives the

35:36
train every day so you know 2024 is

35:38
going to be a great year for you it's

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

35:42
going to be a great year for the annuity

35:44
man and it's going to be a great year

35:45
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 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 guarantees

36:26
and we do have fun with them because I'm

36:28
kind of a glass half Hat full guy my

36:30
name is Stan the annuity man I'm getting

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

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

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

36:38
still going to be you know the walking

36:41
middle finger of annuity truth out here

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

36:44
embrace that I am going to be brutally

36:46
factual so is my team but we're going to

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

36:50
what's right every single time thanks

36:53
again for joining fun with annuities

36:55
let's have a great 2024 together

36:58
see you on the next fun with annuities

37:00
with Stan the annuity man take care

37:07
[Music]