Stan The Annuity Man: The Only Thing Complex About Annuities Are the Sales Pitches

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[Music]

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foreign

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with annuities where every single week I

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welcome a celebrity guest expert that

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can help you maximize chapter two of

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your life listen learn laugh and love

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every minute of the most unique

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Financial podcast on the planet let's

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get to it

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[Music]

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welcome to fun with annuities I am your

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host Stan the annuity man America's

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annuity agent licensed in all 50 states

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and I'm glad that you're joining me

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today on the most unique Financial

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podcast on the planet who who knew you

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could have fun with annuities who knew

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there's so much to talk about when it

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comes to annuities

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but there there are a lot of things that

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I need to cover and today's topic is one

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of them

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and the topic is

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there's nothing complex about the

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annuity industry the only thing complex

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are the people selling them in the sales

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pitches okay

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so if you followed me for a long long

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time or you're just stumbling upon Stan

1:18
the annuity man

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my saying is you own an annuity for what

1:22
it will do not what it might do and the

1:25
will do are the contractual guarantees

1:27
of the policy not the hypotheticals the

1:30
theoreticals the projections the

1:33
back-tested numbers the unicorns chasing

1:35
the butterflies in other words when the

1:37
person says well if you'd owned it 10

1:38
years ago look at these astonishing

1:40
numbers sir or ma'am

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that's hopefully going to go away and

1:46
become illegal it is in some states that

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you can't even show that and I know the

1:51
industry is dealing with that right now

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um

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but the annuity industry is very can be

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very very simple what I've done in the

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industry has made it very very very

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simple we only look at the contractual

2:05
guarantees we only look at what will

2:07
happen in the policy

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you know we're the top we're the top

2:12
group out here it's my company I own it

2:16
100 I have a very big staff we have

2:19
multiple offices

2:21
but at the end of the day every single

2:23
person on my staff asked the same two

2:26
questions that I ask and those two

2:28
questions are

2:30
what do you want the money to

2:31
contractually do

2:33
and when do you want those contractual

2:35
guarantees to start

2:38
from those two answers I can determine

2:41
and we can determine a if you need an

2:44
annuity at all and if you don't we will

2:46
tell you

2:47
and B if you do need an annuity strategy

2:50
we're going to based upon those two two

2:53
answers align you with the strategy

2:56
that's going to create

2:59
the highest contractual guarantee after

3:01
shopping all carriers

3:05
it can't it's that simple

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the reason I'm doing this this podcast

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recording

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that I think is going to define the

3:17
industry for a long long time

3:19
is because the annuity industry

3:22
is all about contractual guarantees yet

3:25
the majority of the sales pitches you

3:27
you're going to hear are about

3:29
non-guaranteed numbers or non-guaranteed

3:32
assumptions or non-guaranteed

3:35
hypothetical returns

3:37
or they're going to focus you on shiny

3:39
things like some product types have

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what's called upfront bonuses which I

3:44
call candy for the stupid meaning

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there's no philanthropist at an annuity

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company that wakes up in the morning and

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says you know what

3:53
I'm gonna give away money today no

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there's a hundred pennies in the dollar

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so when we're quoting like

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income Riders attached to indexed

4:03
annuities and indexed annuities nothing

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against them they're CD products they're

4:06
not market products but those are the

4:08
ones that agents have a tendency for you

4:10
to focus on The Upfront bonus we quote

4:13
all carriers for the highest contractual

4:14
guarantee spoiler alert most of the time

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the specific products that have upfront

4:21
bonuses

4:22
do not provide the highest contractual

4:24
guarantee it's it's it's just a shiny

4:26
thing

4:27
that they want you to focus on the other

4:29
shiny thing they want you to focus on

4:32
are non-guaranteed numbers

4:35
remember with annuities there's many

4:37
different types

4:39
a lot of times when people do happen to

4:41
get me on the phone and I don't take a

4:42
ton of phone calls when you schedule

4:44
call with my team at the annuityman.com

4:46
there's a five percent chance you get me

4:49
you know if I'm if I'm available I do

4:51
open myself up for calls I tell my

4:53
Consultants that surround me and I said

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listen I want to talk to people I want

4:56
to hear what's going on because it makes

4:58
us a better company but we're at such a

5:00
large scale that you might not get me

5:02
that's okay because every single person

5:05
you talk to talks like me thinks like me

5:07
watches more videos than you do of me

5:09
and they understand what I'm trying to

5:12
accomplish out here which is you making

5:13
a decision on contractual guarantees you

5:15
basing your decision on transferring

5:18
risk

5:20
and when I say that I mean there's four

5:22
things that annuity software in your

5:24
transfer risk to the annuity company for

5:26
those four things easy to remember

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acronym pill P stands for principal

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protection I stands for income for Life

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L stands for legacy

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and the other L stands for long-term

5:37
care confinement care so p-i-l-l

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principal protection income for Life

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Legacy

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and long-term care confinement care you

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combine that with the two questions what

5:46
do you want the money to contractually

5:47
do and when you want those contractual

5:49
guarantees to start

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this is a simple simple industry with

5:55
simple Simple Solutions and the people

5:58
that are making it complex are the are

6:00
the agents and advisors selling

6:04
the products in a complex way

6:06
instead of stripping it down to the

6:09
basics

6:11
now I understand the sales world I mean

6:15
I've been with I've been doing this my

6:16
whole life been the financial services

6:18
industry with Dean Witter then I went to

6:20
Payne Weber so that tells you how old I

6:22
am then you know with that when I was

6:24
with Dean Witter turned in Morgan

6:25
Stanley when it was with Payne Weber

6:27
turned into was absorbed by Union Bank

6:29
of Switzerland AKA UBS

6:32
but when I decided to become Stan the

6:35
annuity man and leave all that behind

6:36
and leave that golden parachute leave

6:38
all those stock options on the table

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I did an a for my health and B because

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I come from a place in the world

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probably where you do it's kind of Rural

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America fly over America where we didn't

6:49
have a lot of money and I'm trying to

6:51
figure out how people got money and I

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always had a problem in the markets when

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I was working in New York and other

6:56
places is I didn't want people to lose

6:58
money and what we do at the annuity man

7:00
is we only sell fixed annuities nothing

7:02
against variable annuities there are

7:04
some no load variable annuities that I

7:06
would sign off on if you wanted taxed

7:07
for a growth which is why they were put

7:09
on the planet in 1954-55 by TIAA used to

7:13
be called TIAA kref but that's where the

7:16
variable annuities came from you could

7:18
buy mutual funds and you didn't have to

7:21
think about the taxes because it grew

7:23
tax defer but that now the average fee

7:26
annually on a variable annuity the last

7:28
time I read was around three percent

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okay and I just don't sell anything that

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has a potential to go down in value

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period

7:37
but the annuity industry is going in my

7:41
direction more and more the more and

7:42
more I'm out here done over a thousand

7:44
videos written seven books on the

7:46
subject four to five hundred articles

7:48
I'm always

7:49
trying to educate and Edge you know

7:52
entertain which is combination edutaine

7:55
um but I'm a little bit more serious

7:57
today because I I'm just I worry about

8:00
the consumer out there and the consumer

8:02
here is very very complex sales pitches

8:05
and they talk about you know whether

8:07
it's um Monte Carlo simulations on

8:10
variable annuities with mutual funds and

8:12
in the industry those mutual funds are

8:14
known as separate accounts don't ask me

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why they just are and then the indexed

8:18
annuity side or the

8:20
um buffer annuity side there's a lot of

8:22
formulas and it's it's hard to

8:25
understand and a lot of times the

8:27
companies are allowed to change the

8:29
rules on how those gains are calculated

8:31
at their discretion typically on an

8:33
annual basis some you know there's just

8:35
a handful that don't change the rules

8:38
but most of them can pull the

8:39
contractual rug out from under you and

8:41
always tell people if you can't explain

8:43
the strategy or the sales pitch to a

8:46
nine-year-old no offense to

8:47
nine-year-olds or if you can't you know

8:49
visualize yourself walking into a second

8:51
grade class and being able to explain

8:53
the annuity strategy to them in them

8:56
every single second grader including the

8:58
teacher understands it then do not buy

9:01
it

9:02
I had a great call the other day someone

9:04
was getting pitched

9:05
um uh an index annuity and for the

9:07
record I have nothing against indexed

9:09
annuities we use them as CD products not

9:11
market products because they're not

9:13
um they were put on the planet in 1995

9:16
to compete with CD returns that's

9:17
exactly what they do but we primarily

9:19
use indexed annuities as a efficient and

9:22
cost-effective delivery system for the

9:25
contractual guaranteed income Rider when

9:27
someone needs income in the future but a

9:30
guy called me the other day and he he

9:32
said he kind of went to the same math

9:34
class I did I guess in college he said

9:36
you know

9:37
um I was reading the specimen policy on

9:40
this index annuity and I didn't know

9:42
mathematical formulas could have letters

9:44
in it and I'm like uh-huh that's called

9:45
like Advanced calculus or something but

9:48
it's very very complicated the annuity

9:50
industry and the agent selling those

9:52
complicated products are that they're

9:55
making it complicated it doesn't have to

9:57
be that complicated when we sell an

9:59
index annuity for with an income Rider

10:01
you've answered the two questions this

10:03
way you've said I want

10:05
um income what do you want the money to

10:07
contractually do you want your answer

10:08
was income when do you want those

10:10
contractual guarantees to start your

10:12
answer was two years three years five

10:14
years seven years ten years down the

10:15
road whatever and then we quote

10:19
um all carriers that have income Riders

10:21
not looking at the indexed annuity at

10:22
all and in fact ignoring that side and

10:25
then looking at the contractual

10:26
guarantees of the income Rider what the

10:30
policy will do I had a person the other

10:31
day that said why why haven't I been

10:34
shown this this simply I mean the way

10:37
that I strip it down is so simple you're

10:40
basing your decision on the contractual

10:42
guarantee not the caps and spreads the

10:43
participation rates and the what ifs and

10:46
the non-guaranteed side which seems to

10:49
never come true or meet your

10:50
expectations and definitely doesn't

10:53
coincide with the sales pitch numbers

10:55
that sound too good to be true because

10:56
they are I had a person the other day

10:58
say we were shown this index annuity and

11:01
it showed 10 and 12 and 14 return year

11:04
after year after year and my comment to

11:05
them was if that is true then that's all

11:09
Goldman Sachs and JP Morgan and Credit

11:10
Suisse would buy and they're not buying

11:12
them okay

11:14
I really wish the annuity industry would

11:16
go to a simplistic message

11:19
and

11:20
strip this down to just the contractual

11:23
guarantees it'll never happen because in

11:26
a capitalistic world and I'm a pure

11:28
capitalist they're going to be annuity

11:29
companies that try to distinguish

11:31
themselves from other annuity companies

11:33
with their product is different in a

11:36
shinier thing and has the potential to

11:39
do X okay

11:42
um I really wish that would go away if I

11:44
was annuities are for the day the way to

11:45
solve it is to have all annuity types

11:48
and yes there are many many different

11:50
new annuity types they all have the same

11:52
commission across the board meaning that

11:54
there would be no incentive for the

11:56
agent to look at the commission that

11:59
they're going to receive even though

12:01
that's hidden from the client and built

12:02
in that would not incentivize them to

12:05
make recommendations the recommendation

12:06
in a pure in a pure world where all the

12:09
commissions were the same would be based

12:12
upon the need and the actual best

12:13
solution for the customer the client

12:16
so getting back to the premise and the

12:18
title of this

12:20
um podcast

12:21
and the reason I don't have a guess is

12:23
because I am the guest you know most of

12:24
the time I have guests on

12:26
um recently I just I had on a life

12:28
insurance expert and then I'm getting

12:30
ready to have on a long-term care expert

12:32
but the expert when it comes down to the

12:34
Simplicity of annuities and presenting

12:36
them the proper way is me I'm the expert

12:39
so I'm kind of interviewing myself and

12:41
there's been a lot of times here

12:42
recently I've stepped in and done the

12:44
podcast with myself and not a guest

12:47
because there's some there's some items

12:50
and some situations that I think are

12:52
that important for me to address and

12:54
that important for you to understand

12:55
because if you are going to the bad

12:59
chicken dinner expensive steak dinner

13:00
seminar you are being presented with a

13:04
very complex solution in most cases

13:06
because it's a high commission product

13:07
remember the longer the surrender charge

13:10
and the more complex the the the

13:13
strategy and most the time it's the more

13:16
complex the strategy the higher the

13:18
built-in commission is for the agent so

13:20
if you're going to the bad chicken

13:21
dinner seminar or or even worse if you

13:24
have a if you're working for you know

13:27
Postal Service or something like that or

13:29
a union and they have contracted with

13:31
people to come in and talk to you about

13:32
your retirement most of the time those

13:35
people are only showing you complex

13:38
products which is horrific

13:41
I kind of laughed sometimes because

13:44
um you'll you'll I'll hear that in in

13:46
the person say well this guy said he was

13:47
a fiduciary let me tell you what a

13:49
fiduciary is that's a person that puts

13:52
the client's best interests ahead of

13:54
theirs now in my world if you're in the

13:56
financial services business you're doing

13:59
that because you're in the financial

14:00
services business you're not that's not

14:03
a plaque you need to hang on the wall

14:05
saying that you're a good guy or a good

14:06
gal and you in the in the financial

14:08
services business you are putting that

14:10
person in front of your best interest

14:13
you are telling the person if they don't

14:15
need an annuity you are not a hammer

14:17
looking for a nail

14:19
and I think my legacy out here because

14:21
I'm getting older I know you're saying

14:23
Stan you it looks environment I really

14:25
am not I'm getting old and I've done a

14:28
lot of these but my legacy is I want to

14:30
clean this industry up I want to get it

14:32
down to the simplistic nature of just

14:33
looking at the contractual guarantees I

14:36
want to look up three or four years from

14:37
now

14:38
and the majority of annuities sold or

14:40
sold like I sell them which is we're

14:43
only looking at the contractual

14:45
guarantees of the policy we're looking

14:47
at these at whatever annuity type will

14:49
solve your problem we're looking at the

14:52
commoditized world of that care of the

14:54
those carriers meaning

14:56
there's not one carrier that's better

14:58
than the other even though you're going

14:59
to hear that and even though some

15:01
carriers are going to say well yes we

15:02
are the only in a commoditized world the

15:05
only thing that differentiates a carrier

15:07
from the other in my opinion is the

15:10
claims paying ability the contractual

15:12
guarantees are the contractual

15:13
guarantees when you shop all carriers

15:15
for the highest contractual guarantee

15:17
then the only way that we look at okay

15:20
what how are we going to sift through

15:22
all of these contractual guarantees and

15:24
choose the right contractual guarantee

15:27
for you is is Carrier strength and

15:29
ratings we look at ratings and there's

15:31
four rating services that look at

15:33
annuities the primary one is they

15:34
invested but you have standard ports a

15:36
invest and Fitch and on my site you can

15:38
go look at what's called condex rankings

15:40
that shows them all but that's not a

15:42
perfect system as well at the end of the

15:44
day I look under the hood and I base my

15:46
decision on the claims paying ability of

15:48
the carrier and also what strategy we're

15:50
we're doing for instance lifetime income

15:53
we're marrying that company in other

15:56
words typically it's going to be an A

15:57
plus or better carrier currently there's

15:59
one that's a little bit less than that

16:00
they just got absorbed by a larger

16:02
company so their ratings will go up but

16:04
it's typically A Plus or better why

16:06
we're marrying that company that's hard

16:08
for southerners to say m-a-r-r-y ing

16:10
even though I've been married for 35

16:12
years to the lovely Christine who has

16:14
put up with my eccentricities thank you

16:17
Christine but if we're looking at migas

16:19
fixed rate annuities the annuity

16:20
industry version of the CD

16:23
we're dating that company

16:25
so dating versus mirroring dating

16:27
meaning we're we're not married we're

16:28
gone after the durations the duration so

16:31
I'm looking at the claims payability for

16:32
that duration and sometimes we might we

16:35
might uh say hey this B Double plus

16:37
company carrier that AMS has b double

16:39
plus is good for that duration we've

16:41
looked under the hood and they can back

16:42
up the claim but we would never sell you

16:44
a lifetime income product in a lot of

16:45
cases with that VW plus carry not all to

16:48
all the time there's no there's no

16:49
absolutes I love it when people ask me

16:51
what it was your take what's your what

16:53
you know they asked asked me for that 30

16:55
000 foot claim you can't make that

16:56
there's so many different carriers

16:57
there's so many different variables that

17:00
I look at

17:01
um and obviously I'm trying to match you

17:02
up with the highest contractual

17:04
guarantee the good news is the site that

17:06
I've developed is unique and one of a

17:08
kind number one it has you can run

17:10
quotes 24 7 365. and I'm trying to think

17:14
like you and what you would want when

17:16
you put that information in you can and

17:18
you can run it at your laser nobody's

17:20
going to call you and and and say hi Oh

17:23
it's all or you're running cool I had a

17:24
guy Diana he goes he goes um you've

17:28
probably seen me run a quote run quotes

17:30
a lot no I'm not I mean we have hundreds

17:33
of thousands of quotes run we're not

17:34
looking at who's quoting we're not

17:36
running some algorithm we put it out

17:38
there so that you can see what the

17:40
highest contractual guarantees are

17:41
understanding that when you're running

17:43
lifetime income quotes those quotes are

17:44
like a gallon of milk they expire every

17:47
seven to ten days so yeah only way to

17:49
lock that in is to is to call us up say

17:52
you want to move forward we lock in the

17:53
quote and we take care of everything

17:55
from start to finish the annuity

17:57
industry is going through kind of a

17:58
Renaissance stage right now and that's

18:00
the reason I think this podcast is

18:01
important because I want to

18:03
stick the foot in the ground the fork

18:05
and the road moment stick the flag down

18:07
and say it's time to only focus on

18:09
contractual guarantees and if anyone has

18:11
shown you anything other than

18:13
contractual guarantees say them listen

18:15
that looks great that looks great Joey

18:18
or Joanne agent or advisor show me a

18:21
worst case scenario show me the

18:22
contractual guarantees show me what the

18:24
contract says show me what I'm going to

18:26
get if all hat Breaks Loose what is that

18:29
number because that's the number you

18:30
have to base your decision on not some

18:34
hypothetical not some sales pitch that

18:36
says well you know if it goes up in

18:38
value there's a potential there's a

18:40
possibility that the income is going to

18:42
increase as well with that

18:46
if it sounds too good to be true it is

18:47
every single time

18:49
exceptions to that so if if you get this

18:52
feeling in your head man why isn't

18:53
everyone buying that product it's

18:55
because it's not true in the sales pitch

18:56
is being pushed to the limit of the

19:00
truth and the facts so you own an

19:03
annuity for what it will do not what it

19:04
might do now for the people out there

19:06
that and I do have a a large following

19:09
huge following of consumers but there

19:11
are some agents and advisors that watch

19:12
this as well which is good

19:14
my my hope and dream is that

19:18
I want you to strip it down to the to

19:20
crack contractual guarantees I want you

19:22
to simplify the message because it is

19:24
simplified and when you go to my site

19:26
and run quotes and look at the live Maga

19:28
feed it is simple when you watch my

19:30
videos explaining the good the bad the

19:33
limitations and the benefits of all

19:35
these strategies it is simple it is

19:38
basic it is easy to understand so I mean

19:42
the only thing that's complex are the

19:44
are the sales pitches that are out there

19:46
and the sales messages that are out

19:48
there and and agents that want to make

19:52
it sound fancy it doesn't have to be

19:54
fancy contractual guarantees are not

19:56
fancy contractual guarantees are not

19:58
complex contractual guarantees are about

20:01
the number you're buying the number

20:04
just like when you make a decision on

20:06
social security or just like you when

20:07
you make a decision a person to purchase

20:09
a CD for a guaranteed interest rate and

20:12
myga's multi-year guarantee annuities

20:14
are the annuity Industries version of a

20:15
CD where you lock in a Guaranteed Rate

20:17
you're locking in the number you're not

20:19
locking in a hypothetical you can't lock

20:21
in a hypothetical

20:24
and and that just hit me I need I need

20:26
to put that on a t-shirt when someone's

20:28
showing you a hypothetical say can I

20:30
lock in that hypothetical that looks

20:32
great I love that return I love that

20:33
hypothetical can I lock that in of

20:35
course you can't

20:37
the only thing you can lock in with an

20:40
annuity company is the contractual

20:41
guarantee a policy that you're going to

20:43
receive from the annuity company is a

20:45
contract the reason that we can be as

20:48
big as we want to be with as many

20:49
clients as we want

20:51
is because we're selling contractual

20:53
guarantees there's no revisiting

20:55
you know the policy you bought the

20:57
contract if you want to call us up and

20:59
let us read you off the contractual

21:00
guarantee that we have in our in our

21:02
database for you then we can do that

21:05
but there's no revisiting choosing

21:07
strategies the strategy is the

21:10
contractual guarantee

21:14
I am on a mission

21:16
to make this as simple as it is I'm on a

21:19
mission for the consumer to understand

21:21
that it is simple I am on a mission for

21:24
the industry to follow my lead Pioneers

21:26
take all the arrows right

21:28
right and I'm okay with that to make the

21:32
message simple to make the message

21:34
commoditized to make the message about

21:36
contractual guarantees to make the

21:38
message to shop all carriers now I get a

21:41
lot of blowback from the industry about

21:43
this which is interesting because my

21:45
answer to the Grand pubas that call me

21:47
and say Stan you need to come off this

21:48
message because you know our XYZ annuity

21:51
is a different analog uh-huh sure my

21:55
comment to them is this if you would

21:57
just follow what I'm saying if you would

22:00
just buy in to the contractual

22:02
guarantees message the will do not might

22:05
do message

22:06
the industry would triple

22:10
minimum

22:11
triple

22:13
I mean you have

22:15
what 12 11 12 13

22:17
000 people turning 65 every single day

22:21
they're looking for guarantees they're

22:23
not looking for hypotheticals they're

22:25
not looking for dream scenarios most of

22:27
them are smart enough not to look for a

22:29
too good to be true or believe it too

22:31
good to be true sales pitch

22:35
if the industry would follow me

22:38
and they would get on board and we all

22:40
would go in the same direction of

22:42
contractual guarantees only the annuity

22:44
the word annuity would not be a curse

22:46
word like it is today the the annuity

22:48
industry would get rid of its bad sales

22:51
reputation that it's earned by selling

22:54
the dream and not the contractual

22:55
realities

22:58
and more and more carriers are buying

23:01
into that they're buying into the

23:03
direction that I'm going why because

23:05
they're seeing the volume that we do

23:07
they're seeing that that clients are

23:10
happy they're happy with the contractual

23:12
guarantees they're fine with knowing

23:14
what it will do and not caring about

23:16
what it might do because in chapter two

23:18
of everyone's life when you get to

23:20
chapter two which is retirement or or

23:23
when you're pivoting to that next stage

23:25
of life

23:26
most people

23:28
most people just want that lifestyle to

23:31
be in place because I always tell people

23:33
there's three phases of retirement

23:36
go go slow go and no go and I tell

23:39
people let's maximize the go go because

23:41
we're all going to get this logo and if

23:43
some of us get to know go it's no fun no

23:45
go is no fun can we all get annuity Amen

23:48
on that one

23:50
there's no U-Hauls behind nurses you're

23:52
don't don't you know fly first class or

23:55
your kids will

23:57
think about

23:59
that's what I want you to take away

24:01
there the the complexity of the annuity

24:03
industry is self-imposed the complexity

24:05
of the annuity industry lies at the feet

24:08
of the agents and the advisors that make

24:10
it complex

24:12
the complexity of annuity sales pitches

24:15
is about the agency the virus visors

24:18
trying to make it complex and trying to

24:19
make themselves look smart and try and

24:21
and not speaking people's language of

24:25
just talking about what it will do in

24:26
the contractual guarantees I don't blame

24:29
the carriers the carriers put out the

24:30
products they cannot

24:33
reel in or oversee what agents say which

24:36
is a bad thing

24:38
and the bar is pretty low to sell fixed

24:41
annuities I mean there's not a lot of

24:42
licensure that goes into play that's

24:45
that's good you can argue both ways good

24:47
or bad about that but it does mean that

24:49
people can you know get a license in two

24:51
weeks hold a seminar on a Saturday two

24:53
weeks following and you know sell you

24:55
fixed products

24:57
and that's coming from someone that

25:00
in a previous life I had that you know

25:01
the Securities license is series seven I

25:03
don't sell Securities anymore but

25:04
getting that license is a hard one you

25:07
got to know what you're doing you got to

25:09
have some IQ and you gotta understand

25:11
markets Etc I mean not just everyone can

25:13
pass that

25:15
um but I digress right this is going to

25:19
be a shorter podcast because there's no

25:21
guest I just I just felt that I needed

25:24
to get on and and talk about the

25:26
complexity there's nothing complex about

25:28
annuities of any type there's nothing

25:30
complex about an immediate annuity or

25:32
deferred income annuity or a qualified

25:34
longevity annuity contract or an income

25:35
Rider those are the four ways to do

25:37
lifetime income transfer the risk as

25:39
long as you're breathing or on a

25:40
ventilator there's no Roi until you die

25:42
there's nothing complex about a myga

25:44
it's a CD version It's the annuity

25:46
industry version of the CD

25:48
it's the other products that become

25:50
complex because the agents make them

25:53
complex if they took the other products

25:55
and just looked at the contractual

25:56
guarantees

25:58
and only sold for the contractual

25:59
guarantees

26:01
they would sell more you know I tell

26:03
agents that too you know because ages we

26:05
don't there's no agents that work for

26:07
for the annuity men at the time of this

26:08
typing you know the the huge staff that

26:10
I have are customer service people that

26:13
are all licensed that you know take your

26:15
applications and handle things for you

26:16
and make sure everything's concierge

26:18
service for you there are no agents we

26:20
Farm leads out to that are going to show

26:22
up at your doorstep I mean agents always

26:24
say well I'd love to work with you we

26:26
don't need you we're selling contractual

26:28
guarantees we don't need an army of

26:30
Agents we just need the best website in

26:32
the world which we have cost me a ton of

26:34
money that you can go on and look and

26:36
and read the articles and download books

26:39
for for free and read the books the

26:40
owner's manuals I've written and watch

26:42
the videos that correspond

26:44
that's I mean that's how simple it is

26:47
and the biggest compliment I get all the

26:49
time is listen I I went to your website

26:51
I watched the videos I read the books I

26:53
read the quotes I got educated then I

26:55
scheduled a call with you guys that's

26:57
the way it's supposed to work we are not

26:59
a nail look a hammer looking for a nail

27:02
our industry is is filled unfortunately

27:04
full of

27:05
agents and advisors that act like

27:07
hammers looking for nails

27:09
we have no problem telling you

27:12
um that you do not need an annuity Give

27:14
an example I took a few calls this

27:15
morning I'd say probably five before I

27:17
got on this

27:18
three of those people three out of the

27:21
five

27:22
spent the time on the phone I asked the

27:24
questions we had a good conversation and

27:26
I said at the end you don't need an

27:27
annuity each one of them was different

27:29
for the reason why but I told them now

27:31
this isn't the time or you don't need

27:33
one or this is how you need to set it up

27:35
one of the great stories was the the

27:38
person the the male was trying to set

27:40
something up for his loving wife that's

27:42
put up with him for all these years and

27:44
he said I need to set something up and

27:46
buy something for her and my comment to

27:49
him was well is everything okay and as

27:51
long as you're alive and hitting on all

27:53
cylinders and cognitively there he goes

27:54
yeah everything's good we don't need

27:56
anything I'm like great then don't buy

27:57
an annuity how easy was that you know

28:00
set up the trust when you die it

28:02
triggers an immediate annuity purchase

28:03
for your spouse so that they can go see

28:06
the kids of the grandkids spoiler alert

28:07
that's the lovely Christine that's

28:09
married to Stan the annuity man that's

28:10
how we we've got it as long as I'm hit

28:12
and we're good as long as I'm hitting on

28:14
all cylinders and doing this I mean

28:16
we're fine

28:18
but when I pass away she could care less

28:20
about finances the stock market

28:22
annuities transfer risk all this stuff

28:25
she could care less she wants to go see

28:27
our our daughters and grandchildren

28:29
that's all she want and you know what

28:31
that's what she should do

28:33
so there might be a case that I say hey

28:35
wait to buy it later or here's how you

28:36
buy it later or it triggers upon your

28:39
death and by the way death is not a good

28:40
strategy you can only use it once

28:43
you know I'm we're going to shoot

28:45
straight and whether you get me on the

28:46
phone or my team

28:48
um I it'd be cool if I got if I got you

28:50
on the phone but that's becoming more

28:52
and more fleeting as we get all of these

28:54
calls coming in and all these schedule

28:55
calls you can schedule a call you just

28:57
might get me but most time you're going

28:59
to get someone else but we're all going

29:01
to do the same thing we're all going to

29:03
listen

29:04
we're not going to high pressure you

29:05
there's never an urgency to buy an

29:07
annuity of any type the urgency is for

29:10
you to understand what you're buying

29:12
that's the other thing about the annuity

29:13
industry if we went to a commoditized

29:15
looking at the contractual

29:16
guarantees-only world no one could say

29:19
well we really need to sign the

29:20
paperwork sir the bonus is going away

29:22
you probably need to lock this in that's

29:24
all nonsense it's garbage now but it

29:26
definitely would be garbage if we solely

29:28
looked at the contractual guarantees

29:30
what you're going to see with the

29:32
annuity man going forward as we get

29:34
bigger and bigger as my voice gets

29:36
larger and larger and reaching across

29:38
the country is we're going to start

29:42
combating the complexity I guess is the

29:45
best way to do we're going to combat the

29:47
complexity out there that's that most

29:50
agents and advisors choose to choose the

29:54
way to sell annuities or pitch annuities

29:56
or promote annuities or or show people

29:58
news in a complex fashion we're going to

30:00
strip all that down to where pretty soon

30:02
when someone tries to sell you something

30:04
complex you're going to say because

30:06
you're going to either be familiar with

30:07
with this message me or our national

30:11
message coming forward you're going to

30:12
say show me the contractual guarantee

30:14
show me the will do not the might do

30:15
show me what the what the contractual

30:18
realities of the policy are I want to

30:20
base my decision there and the more and

30:22
more that happens that's happened that

30:24
happens every single day

30:27
um and and people will buy and say yeah

30:29
you know they presented me this I didn't

30:31
understand it I just want something

30:32
contractual they're hearing the message

30:34
that message is getting ready to be

30:36
blasted even louder because annuities

30:40
are a good thing contractual guarantees

30:42
are a good tip or a good thing lifetime

30:44
income is a good thing principal

30:47
protection is a good thing Legacy is a

30:50
good thing

30:52
you can't hate annuities and take your

30:54
Social Security payments you can't hate

30:56
annuities and take your pension payments

30:58
if you're so fortunate to have one you

31:00
can't hate annuities and buy CDs

31:03
because annuities have a version of a CD

31:06
so that message is getting ready to be

31:09
blasted even louder than I blasted it

31:12
already you know this podcast ton of

31:15
listeners my YouTube channel ton of

31:17
subscribers ton of videos we're over a

31:20
thousand videos okay a thousand videos

31:22
on annuities and as long as I'm

31:25
breathing in go go knots logo I'm gonna

31:28
still do this and talk straight to you

31:31
I'm looking at you listen to me

31:33
annuities are not complex don't start a

31:36
conversation with us well I used to hate

31:38
all annuities we're gonna blast you you

31:40
mean you hate Social Security you mean

31:42
you hate CDs stop all that

31:44
you're better than that you're smarter

31:46
than that

31:47
and maybe it's just give you some Grace

31:49
a little bit here's maybe it's just all

31:51
the complex sales pitches you're hearing

31:52
locally

31:53
or on the internet somewhere that make

31:55
no sense and and makes everything fuzzy

31:58
annuities aren't fuzzy annuities are

32:00
contractual

32:01
okay

32:03
so the conclusion is this annuities are

32:07
very simple the own they're not complex

32:10
okay don't buy the complex ones if

32:13
you're looking at the complex annuities

32:15
then look at the contractual guarantees

32:17
which which make them not complex

32:19
the only complexity with the annuity

32:22
industry are unfortunately the majority

32:25
of people advisors agents Masters of the

32:28
Universe trying to sell them

32:31
but if you look at just the contractual

32:33
guarantees they're very very simple and

32:37
you can explain them to a nine-year-old

32:38
no offense to my nine-year-old friends

32:41
out there

32:43
hey my name is Stan the annuity man

32:46
America's annuity agent you've been

32:48
listening to fun with annuities

32:51
I'll see you next time

32:57
[Music]