Which Retirement Plan Comes With A Guaranteed Benefit At Retirement?

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Which Retirement Plan Comes with a Guaranteed Benefit at the Very End of It?

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I'm going to tell you that answer. Hi there, my name is Stan the Annuity Man, America's annuity

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agent, licensed in all 50 states, sporting the annuity man basketball logo, which is,

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you know, living. It's been a while, Big C behind the camera,

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since I shot the basketball, but I still hold the record. So, for accuracy,

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that's what slow white guys do when they play. That's okay, you know. But I didn't have a

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choice as a kid. My both of my parents were both college basketball coaches. So, it wasn't like,

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what do you want to play? It's, hey, this is what you're going to play. So, we're going

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to talk about that retirement plan that has a guaranteed benefit at the back end after this.

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Alright, so, let me break it down as only Stan the Annuity Man can. There are two really primary

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types of retirement plans. Okay, the first one is a defined contribution plan. Okay? Defined

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contribution plan would be 401(k), 457, 403(b), Simple IRA, SEP IRA. You're accumulating, okay?

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Assets, tax-deferred, defined contribution. You're contributing to it. Hopefully, your employer is

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matching or contributing something. So, that's defined contribution, okay? Most of you out there

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have it. Most companies provide that. The annuity man — we provide a defined contribution 401(k) with

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matching. The other part is the one that has the benefit at the end. It's called a defined benefit

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plan. And a defined benefit plan is actually a pension-type plan that is put in place for, by

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the company for the employees. This is dinosaur. There's just not many of these anymore. Okay?

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9% — not 99% — of the people out there working have a pension waiting for them at the

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end. In essence, a defined benefit plan. Nine. The other 91 are defined contribution plans. Okay. So,

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the good news about if you have a defined benefit plan is that's a pension that you can depend on,

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just like you depend on Social Security. And that's fantastic. I hope you have it. But if you

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don't have it, then you have to take the defined contribution plan and turn it into a pension.

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That's where I come in. That's where the annuity man, who represents every single company out there

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and every single type of lifetime income product, pension product out there — the products that create

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that lifetime income check every single month — you have to take that 401(k), 457, 403(b), Simple IRA,

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SEP IRA, and transfer that money, some or all, into a lifetime income stream to create that

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pension that you need to coordinate with Social Security. Alright. It's really that simple.

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Now, you have to say, well, didn't a lot of companies in the past have pensions? Yeah,

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a lot of companies in the past had pensions, and they had gold watches that they gave you,

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and you stayed there forever. But, but I'd say 20, 30 years ago — and I'm probably wrong

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about that. I did know the date specific a while back — companies switched to the 401(k) model because

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it's — for the company — it's more profitable. They're not on the hook for that employee that retires,

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and then they have to pay a pension to that employee. What they're saying is,

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we're going to match you along the way in the defined contribution, and then thank you very

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much for working for us. Here's your money, and then you can roll it into an IRA and then have

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at it. Good luck. In essence, good luck. I'm not sure that's right or wrong as an employer.

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It's the path of least resistance, and it's what most companies do.

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Now, obviously, we're a little bit different. So, if you retire from us, you're going to sit

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down with us and go, "Okay, let's get an annuity for you." I mean, we are the annuity man.

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But most companies are like, "Hey, have at it. You know, I did my job as the employer, as giving you

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money along the way and matching." But it's a little bit of an issue

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in this country. And I do think — and again, I'm not political. I'm contractual. Remember that.

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I do think going forward politically, you're going to have candidates that start talking about this.

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They're starting already to talk about a universal basic income. Check the date of this tape. You

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might be looking at it, you know, 10 years from now and going, "What are you talking about,

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son? We already have it." But the point is, they're talking about it. And they're talking

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about it because there are no more defined benefit plans, and it's all defined contribution plans.

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So, I'm just saying we're in a tough spot as a country. You know, what do we do? You know,

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what do we do for the people that don't even have an employer that provides a 401(k)? Or what do we

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do for the gig worker that can't afford to start their own SEP or their own personal 401(k)? Because

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Social Security was never put on the planet to be the primary income source for you in retirement.

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It was put in place to be a supplement. And I don't even want to see the

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stats of people that Social Security is their retirement. It's got to be huge. And that's the

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reason that politicians never touch it. That's the reason that politicians raise that increase,

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not because they're looking at actuarial, they're looking at political. They want

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the votes. They know that people with Social Security are going to vote. And I

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have nothing against Social Security as a plan. It's just we're going to have to think a little

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bit bigger than that going forward because the numbers just don't work. They just don't work.

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And the people watching this video are probably people with means. Means

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meaning they have money to think about buying an annuity to create lifetime income. But

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in this country, where 60 — over 60% of people 60 or older have less than $10,000 to their name,

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that's tough. I mean, that's tough. And with 37 trillion in debt at the time of this taping,

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all kinds of chaos globally, it's going to be interesting to see what happens. Okay?

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But what you need to do is look at your income floor, look at what you have, what's coming in,

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and then what additional that you may need. And then go to my site, theannuityman.com,

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run quotes, download the books, learn more, you know, go to the YouTube and type in

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the product you want to learn more about. I've done hundreds of videos on everything,

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and then dig in and then connect with us and let us have a conversation. Every single person in my

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office in Las Vegas is licensed in all 50 states. They're just not on commission. Their bonus is my

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discretion on how they treat clients and if the clients are happy. We have ways to track that. So,

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they're not hammers looking for nails. We have 14,000 people turning age 65 every single day.

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That's a big number. That's what they call in the business a demographic tidal wave. Now,

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we're in front of that, and we're prepared for that, and I'm staffed for that. We

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have the technology for that to make sure that you're going to make a good decision.

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But make your decision on the contractual guarantees and have us quote all carriers for

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you. Do me one last favor. There's a video above me that we talk about — I did a video just on

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why contractual guarantees only drive the train for the annuity man. And it should be the only

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thing that you look at for you, and it should be the only strategy that the industry uses.

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It's important to us because annuities have their place. You already love the one you already own,

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which is Social Security. So, they have their place. You just have to look at them properly

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and contractually so you can make a good decision on your terms and on your time frame.

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My name is Stan the Annuity Man. See you next time.