The Scars of Scarcity: Shootin' It Straight With Stan

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Welcome to Shooting it Straight with

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Stan. I'm your host, Stan the Annuity

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Man, America's annuity agent, licensed

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in all 50 states. Today's topic is a

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good one and one that will make you

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think. The title is the scars of

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scarcity, fear of running out. Not fear

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of missing out, fear of running out.

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Now, I have to give full credit to the

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scars of scarcity to my lovely wife

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Christine who came up with it. We were

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talking about clients

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that, you know, are worried about

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running out of money and worried about

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do they have enough. And that's one of

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the the issues that my team solves for

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every single day is making sure the

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contractual guarantees are in place so

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that there's enough income coming in or

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that there's enough money there that

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regardless of how long you

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live, you're going to be okay. And

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that's truly what annuities do. That's

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the benefit proposition that only

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annuities in the category provide, which

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is lifetime income, which is as long as

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you're breathing, you're going to get

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paid by the annuity company. I don't

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care if there's any money left in the

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account, they're on the hook to pay.

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That's the benefit proposition. It's the

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only product on the planet that does

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that. Only strategy, only

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industry. You would think that having

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that type of monopoly that the annuity

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industry would come off of this nonsense

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growth thing that they're on and promote

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the transfer of risk lifetime income

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that annuities provide because that's

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that's a monopoly in the world of

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financial products. That is a

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monopoly. People say, "Well, what's the

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return on investment on a lifetime

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income annuity, Stan?" Well, first of

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all, there's four different types.

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immediate annuities, deferred income

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annuities, qualified longevity annuity

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contracts, and income writers attached

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to deferred annuities. I always tell

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people ask yourself two questions. What

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do you want the money to contractually

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do? And when do you want those

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contractual guarantees to start? And

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then from those answers, we can um run

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quotes with the right strategy, right

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product to get you the highest

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contractual guarantee.

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But we live in a world of, you know,

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FOMO, fear of missing out, which is, you

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know, that's the kids, as they say, my

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daughters talk about FOMO, fear of

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missing out. And people suffer from that

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in the stock market. You're always, you

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know, wishing you'd have bought, you

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know, XYZ at five instead of 50, right?

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Hindsight's 2020. Fear of missing out.

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But when you hit age 65 and there's

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11,000 of you every single day that's

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doing that or you're in retirement

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years, it's not FOMO. I hope it's not

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because you know when you retire, you

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need to retire from your work and the

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markets in my

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opinion. It's fear of running out. I

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guess that's

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fo is real. Fear of running

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out. Fear of having enough money. fear

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of paying the

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bills, the scars of

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scarcity. My wife, brilliant, when she

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said that, I went, "Okay, I'm writing

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that down. I'm doing a video on it, but

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I" And she goes, "Give me credit on it."

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I'm like, "You'll get full credit and

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and royalties."

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Exactly. Scars of scarcity comes from

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those. I mean, we all, not we all, most

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of us grew up not rich at all. Our

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parents did the best they

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could, but a lot of us did without. A

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lot of us didn't have a lot. Okay, nod

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your head. And now you look look at

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yourself now and you still bring those

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scars to the

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table. You could have a million dollars

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and a lot of you do. Or you could have

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$500,000. A lot of you, you could have

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$200,000. A lot of you do. All of that's

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a lot of money, right?

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But you might still feel poor and you

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might still act poor and you might still

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feel like you don't have enough money

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and you might still worry every single

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day about it, which is

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understandable. But also understand that

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over 60% of adults in the United States

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don't have $400 in their checking

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account. So congratulations to you for

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watching this video because if you're

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watching it, you're trying to figure out

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how not to run out. You saw the title,

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fear of running out, faux rope, not

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fomo, faux

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rope, and the scars of scarcity. But I

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think the scars of scarcity, like my

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wife was pointing out, is a bigger issue

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to deal

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with. I deal with it every day. I mean,

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we have been fortunate, and I tell

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people all the time, I'm a 10 or 15 year

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overnight sensation. Think about it. We

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worked hard. I mean, we, you know, seven

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days a week, and I'm not kidding, to

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build this up. And we have been very

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fortunate and and probably like you have

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more money than we ever thought ever

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dreamed of. You know, I'm not, you know,

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I'm not some master's degree from

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Harvard. I'm a guy that could shoot

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basketball real real well, put myself

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through school shooting a basketball, if

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you can believe that. It's kind of sad

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that colleges pay for that, but they do.

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And got my degree and everything. And

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then I came out here and worked hard.

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But I still act like I still have those

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scars of scarcity. I still I still penny

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pitch when I probably shouldn't. I

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still, you know, don't order what I want

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to order when I probably should. Does

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that ring a

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bell? I mean, I think one of the reasons

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that I love what I do and that I do

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these videos is that I'm you. I'm you. I

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grew up like you. I had parents like

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you. And I get to live everyone's life

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listening to you on the phone over these

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past three decades and listening to the

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struggles and listening to the scars of

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scarcity. There are a lot of times that

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I talk to my clients and they have a lot

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of money and and money is relative. You

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know, 75,000 could be a lot to you and

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enough. 750,000 could be a lot to you

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and enough. 7.5 million could be a lot

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to you and enough. It's relative. It

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doesn't matter. And levels don't mean

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anything to me. It's about what you're

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trying to achieve and what what you feel

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comfortable with. But at whatever level,

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I'm always asking people, if you had

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more money, would it make you happier?

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Would you be different? Would you act

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different? Would you dress different?

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Would you eat different?

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I'm now coming to terms after good

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counseling sessions with my wife which

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who is a clinical psychologist by trade

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and I've always wondered even though

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we've been married 35 years did she

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really marry me for love or is she

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writing a book and doing a study long

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term. Might be both. I don't know. She's

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never really answered that

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question. But bless her heart. She's

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always kind of deprogramming me and

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we're talking about things. working

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through things and I'm and I I feel

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pretty comfortable now at 58 years old.

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I know you're saying to yourself,

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there's no way Stan, you look 27, baby.

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You look good. You sound good. I feel

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good. But I'm just now coming to terms

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with the fact that there won't be any

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scarcity. It's going to be

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okay. I can buy I can buy the I can buy

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the dessert even though I don't need it.

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I mean, I it's going to be okay.

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I should not bring the scars of scarcity

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to the table. I should not look at fear

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of running out because we have annuities

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in place for both principal protection

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and lifetime income. And I have life

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insurance, huge amounts. I love life

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insurance. I don't sell it, but it's the

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best return on investment. You'll never

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see because you're dead.

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Hello.

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So, I'm coming to terms with I really

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don't have the scars of scarcity

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anymore. I want you to start thinking

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like that. I know where you came from.

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We all came from that. My wife tells a

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great story about she said here, she

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goes, I'll give you an example of scars

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of scarcity and it applies to you. She

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doesn't talk like that because she's

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from the Midwest. She actually talks in

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very fine English. She doesn't talk with

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southern accent like I do sometimes, but

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I like southern accents. you know, she

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tells a story where we were struggling

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early marriage and one of our, you know,

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I think we just had our first born and

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um and she's 26 now, so there you go.

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And uh at the time of this taping, my

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wife says, "Remember the time that you

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came home from work and I was crying

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because we didn't have any baby formula?

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We didn't have any of those little jars

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of baby formula B and and we didn't have

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any money and we're just scraping. We're

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just hustling, right? Trying to make it

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happen. She goes, "Do you remember what

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you did? You went to the grocery store

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and used a credit card and bought a

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hundred plus jars of baby former, some

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of which went bad down the road because

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we had it too long." That's the scars of

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scarcity. I mean, just me talking about

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that brings tears to my eyes because as

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a

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provider, man, that was hard. It's still

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hard to think about 26 years later that

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my baby wasn't eating. I mean, that's a

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real

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story. You have that story, but it story

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is not it's not now. There's no scarcity

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now. There was then, but I bring that

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I'm still dealing with it now. You can

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see my I mean, I still emotionally am

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drawn to that story.

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What I'm saying to

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you is the fear of running out can be

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solved with annuities in combination

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with the best annuity you have on the

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planet which is social security and

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principal protection products and

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contractual guarantees. We can solve for

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the scars of scarcity. That doesn't mean

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you have to put all your money in

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annuities. That could also mean CDs

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guarantees, treasuries guarantees, money

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markets guarantees. Doesn't have to be

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annuities and and it and it shouldn't

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and it won't with me.

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The fear of running out can be solved

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with annuities for lifetime income.

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You'll never run out of

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money.

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Period. Are there limitations to that?

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Yeah. FO is lifetime income which leads

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to FOMO. Fear of missing out because

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well my money's not in the market. It's

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not growing. Yeah, but you you you solve

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for FO. FO is more important than FOMO.

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Hello. Seriously.

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fear of running out. Solving for fear of

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running out is is more important than

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fear of missing

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out. Especially in chapter two of your

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life. If you're 40, then go, you know,

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forget faux row. You're too young. If

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you're 50, a little bit too young. But

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for for for people that are looking at

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retirement, it's it's faux row. Fear of

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running out. That's the reason annuities

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and they're not

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perfect for lifetime income are

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fantastic. And the pricing is primarily

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based on life expectancy or life

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expecties at the time you take the

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income with interest rates playing the

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secondary role in the

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pricing. Just remember most of the time

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with with faux row we're solving for

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either lifetime income or we are

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protecting the principal and just

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peeling off the interest for the income.

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Either

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or. But the scars of scarcity are real.

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And what I want you to think

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about is where you've been, where you've

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come from, and where you are

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now. And are you still bringing those

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scars with you to the table? Even though

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you have a lot of money, even though you

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have enough money, even though if you

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structure it properly, you'll never run

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out of money. You'll always live your

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life. Are you still doing that? Are you

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still bringing those scars of scarcity

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with you to the table?

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Is that the reason you're still in the

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markets? Is that the the reason you're

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still putting your money at risk? Is

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that the reason you still worry about

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it? Should you be worrying about

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it? Probably not. If you run the math, I

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always love talking to clients. I'll

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close with this. I talk with clients all

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the time and I'll say, "Okay, I

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understand your concern, but can we just

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do some basic math?" And we do basic

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math because annuities are math. They're

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contracts. They're not hypothetical

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theoretical pie in the sky unicorn,

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chase the butterfly nonsense. They're

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math. You're buying contracts. Lifetime

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income is a

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contract. Ma interest contracts. Okay?

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And most of the time when I do the math

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with people and I show them that

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mathematically they're already there.

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They've won the game. It's still hard

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for them to get there mentally because

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of the scars, the

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scarcity. But hopefully this will make

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you think. And that's I mean that's what

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these videos are all for. I am in the

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I'm in the war every day. I think what I

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do and and what I bring to the table

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nationally to everyone out here is that

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I've been doing this for so long and I'm

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listening to everybody and I I'm so

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interested in the struggles that people

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have and then I can address it so that

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you know you're not alone out there and

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that maybe you can work through it and

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make some good decisions for your

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retirement so you can enjoy it. You need

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to enjoy your life. We all do.

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I'm talking to myself a little bit here,

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too. As you can see, I still have some

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emotion with the scars of scarcity and

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that story my my wife brought up. But

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together, we can get through it. And

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together, I'm going to talk to you about

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things that I think are important going

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going forward in your life. I encourage

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you to contact us at theanuityman.com.

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Love to hear your story and love to see

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if we can help. And I really appreciate

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you tuning in. I will see you next time.

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My name is Stan the annuity