What Is A Charitable Gift Annuity?

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Hi there, Stan the annuity man.

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America's annuity agent licensed in all

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50 states and Puerto Rico.

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I like saying it like that sometimes.

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Sometimes people get mad. I got an email

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today said do not say Puerto Rico like

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that.

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Like what? You know, like ending it with

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a really high pitch. Calm down out

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there, everybody. Okay. I don't I I

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don't speak a lot of Spanish. Dr. B. Dr.

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B is here. He's from V. He speaks fluent

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Venezuelan. I think that's Spanish. You

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know what I'm saying? What is a

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charitable gift annuity? Good question.

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I get that question a lot. Love that

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product. But here's the spoiler alert.

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Don't and can't sell it, but I still

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love it. And I'm going to tell you about

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it after this.

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So, I call them CGAs, charitable gift

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annuities.

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Say, Dan, what in the world is that?

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Well, think about your favorite charity

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of choice,

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um, Humane Society, Salvation Army,

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um, cancer organization, your hospital,

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good old state university where you

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graduated from. Most of those

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organizations offer what's called a

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charitable gift annuity. Now, they come

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in a couple of forms, but let's talk

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about the one for income. Okay, most

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people will say to buy an immediate

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annuity or charitable gift annuity. Good

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question. Quote both. Uh we can quote

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the the immediate annuity one for you

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247365.

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But I would go to your charity of choice

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and say ask, "Do you offer a charitable

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gift annuity?"

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Now, here's how it works in a nutshell.

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You can go to Google charitable gift

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annuity organization. There is a great

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group that oversees all of this. Um, but

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in essence, the the organization, the

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501c3, which means nonprofit, the

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nonprofit will pay you a lifetime income

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stream, but when you die, they keep the

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money. That's cool, right?

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I work with a um a college in Michigan.

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not political. I know they they lean

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right a little bit, but I love them to

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death. It's a college called Hillsdale

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College, and I helped them uh with their

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charitable gift annuities. They already

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had them in place. I kind of gave them

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some insight on how to how to market it

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to their donors, and they've done great.

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They've done fantastic. Run by that

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university is run by a very smart man, a

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very good man, Dr. Larry Arn. you ever

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want to hear him speak? He is fantastic.

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He's the foremost expert in the world on

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Winston Churchill. Fun fact, but the guy

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is is really dynamic. But people need

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lifetime income. You only I mean the

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only annuity that most people have is

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social security, which is the best

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inflation annuity on the planet. And

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yes, it is an annuity.

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If you're fortunate enough to work for a

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company, one of the 9% that offer

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pensions, or if you're state worker,

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government worker, federal, military,

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whatever, you have a pension. But most

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people don't.

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But if you want to do good and get a

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lifetime income stream, a charitable

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gift annuity is something you might want

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to look into. The other thing about

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CGAs, which I love, is there's and you

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got to work with your tax person, your

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tax um advisor, CPA, tax lawyer, not an

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advi, not an agent. Not me, even though

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I know a lot about it. You have to have

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someone who is um licensed to give tax

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advice.

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There's big tax savings with CG with

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CGAs. In other words, not only you going

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to get a lifetime income stream, you're

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going to get tax deductions.

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Now, you have to make sure uh with a

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lifetime income stream that the 501c3,

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the charitable gift organization, good

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old State U, whatever, um can back up

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that lifetime income stream. But but the

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the Charitable Gift Annuity Association,

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they're tracking a lot of that. You can

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ask um your 501c3 charity that you're

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approaching for financials. They'll give

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you those. They're very transparent. But

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a lot of you don't know that CGA are

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even available because agents don't make

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any money off of it, which means agents

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don't talk about it, which means is why

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I talk about it. They're good. I want

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you to have sufficient lifetime income

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stream. I want your income floor to be

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sufficient for you to live comfortably

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for the rest of your life. And it might

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be a combination of of one of the four

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types of annuities that provide lifetime

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income. SPSD issu income writers and

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a charitable gift annuity from your

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favorite um charity.

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Why wouldn't you do that? It's worth

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looking under the rock. Long It's not a

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long story, but it's a good one. A

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gentleman called me the other day from

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Arizona and had a cat trillion dollars

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and was looking to to do a bunch of SPAS

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and I got to know him a little bit and

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I'm I'm always asking questions. All

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right, tell me a little bit about

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yourself. I want to just kind of know

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the general, you know, you're married to

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kids and this and that. He goes, you

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know, I'm you know, I love I love the

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university I went to. If it wasn't for

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that university, I wouldn't be where I'm

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at. And I asked him the name. He told

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me, I said, you ever asked them if they

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had a charitable gift annuity?

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He said, 'What was that? And I told him

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and he said, 'N no, but I'll call. I

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said, 'd do that. Call him and and see.

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Long story short, I only got half the

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sale of the of the amount. But it was

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great because the guy in essence gifted

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all this money to the university and got

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a lifetime income stream. It was great.

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And set it up with his him and his wife.

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A lot of these CGAs

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can be customized with your 501c3

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nonprofit.

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Once again, fantastic. There's no

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commissions, there's no agents.

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Typically, these universities or

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organizations, nonprofits, they'll have

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a person that is uh ahead of the head of

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the charitable gift foundation at that

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university or at that organization.

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And that's great. I think I saw the

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other day like PBS, public broadcasting,

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and don't get political, doesn't matter,

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okay? I love their documentaries, but

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they had I saw something the other day

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and at the end they said if you want to,

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you know, look into our charitable gift

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annuity, please contact blah blah blah.

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And the person's name top popped up. I'm

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like, that's cool. That's a cool way to

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give money. One of the interesting

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things that's going to happen in the

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next 5 to 10 years is the amount of

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money that's going to be transferred

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from the boomers to

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the uh the the beneficiaries or to

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charitable organizations.

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Regardless, all of us are going to need

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lifetime income streams. Whether we have

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mas like me and we're just peeling off

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the interest in the future, not now

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because it's the annuity, man. We're

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still rolling. But, you know, when

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somebody taps me on the shoulder and

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says, "Stan, every, you know, you're

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starting to drool now. Stop. Please

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stop." Um, when that happens, I mean, we

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have MAS. We'll just peel off the

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interest and maybe we'll do the

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charitable gift annuity. But I just

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wanted to let you know that it is a

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viable good strategy. It's such a good

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strategy that agents aren't involved,

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which probably makes it a really good

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strategy. And there's no nefarious

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person at your 501c3

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nonprofit, you know, hospital or cancer

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society, humane society, good old state

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university that you went to.

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Give them a call. It's worth finding

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out. If you need my help, go to my site

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at theanuityman.com. Shoot me an email

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stantheanuityman.com.

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Schedule a call. You can also go to our

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site and run comparison quotes. So, if

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they give you a CGA quote for lifetime

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income, you can run an immediate annuity

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quote on our site. You can run it two

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ways. You can run it full with your name

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and all that stuff, or you can do what

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we call a quick quote, which is new to

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the industry that you don't have to put

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in any information. You get a you get a

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quote right then. We're the only ones.

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I'm sure they'll people people will try

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to copy, but the the um consultants are

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going to have a hard time with that one

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because they're like, "Well, we're not

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we're not capturing any of their

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information. We can't cross market to

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them." Uh-huh.

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Game on, player. Annuity game on.

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I'm changing this industry for the

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better. For the better. People are going

8:37
to learn. These are great products. All

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right. So, go to my site, run the

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quotes, look at the look at the site,

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download my books for free. One last

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thing, spinning above my head is a

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clock, and that magically will appear a

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video that I did on, hey, all you

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annuity haters, you already own an

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annuity. You'll get a kick out of that.

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I talk about social security, but I talk

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about others that you might own as well

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that you don't think you do. All right,

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charitable gift annuities. That's uh you

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might have learned something today and

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you might thank me later because it is a

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good strategy with good intentions and

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guarantees. My name is Stan the annuity

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man. See you next time.