You Need to Pivot to Lifetime Income

0:04
[music]

0:06
Hi there, Stan the Annuity Man,

0:07
America's annuity agent. Yes, I am

0:09
licensed in all 50 states. Thank you for

0:12
asking.

0:13
Today's topic is you need to pivot to

0:16
lifetime income. I love the word pivot.

0:19
Pivot's a basketball phrase where you

0:21
pivot around and it's it's used in in

0:24
basketball. And long story short, there

0:26
was a coach a long time ago. His name

0:28
was Clarence Big House Gains and he

0:31
coached at Winston Salem State

0:33
University. I'm from North Carolina and

0:35
I was a counselor at a camp and I worked

0:37
in his gym. And all he taught kids to do

0:39
was was pivot. And that's where this

0:41
came from. It's so important. It's

0:43
important for you to pivot to lifetime

0:46
income as you approach retirement

0:48
because it's all about lifestyle. It's

0:50
all about living your life. you know, at

0:52
some point in time you don't want to

0:54
chase markets or you don't want to, you

0:55
know, do an analysis on stocks and those

0:58
type of things. And maybe you do, maybe

0:59
that's that that's what you do and

1:01
that's your hobby. Go for it. But at the

1:03
time of this taping and we're in raging

1:05
bull markets, like bull bull bull bull

1:08
markets like this is going straight up.

1:11
And again, having been around a little

1:14
bit, I mean, I've got, as I tell the

1:16
youngsters in my office, the annuity

1:18
man, I've got cowboy boots older than

1:20
you, I have been around to see markets

1:23
go up. I've seen them go down. I still

1:26
have scars from those time periods. So,

1:28
so with us old people like me, and I've,

1:31
you know, I used to work for Morgan

1:32
Stanley, Dean Witter, Payne Weber, UBS.

1:35
I've been around where people were

1:36
vomiting because they lost so much

1:38
money. And I hope that ne never happens.

1:40
My hope we keep markets keep going up

1:43
and everything's ducky and you know we

1:45
all high-five each other because we're

1:47
so such geniuses throwing darts at

1:48
stocks. I hope that happens. Okay, but

1:52
the [clears throat] contrarian in me is

1:54
like it seems a little euphoric at the

1:57
moment at the time of this taping. I

1:59
know this is evergreen content but you

2:01
know you can watch this 20 years from

2:03
now. It's still going to be the same.

2:05
Markets go up, markets go down. The

2:07
question you have to ask yourself is at

2:09
your age, and you're the only one who

2:10
can answer this, can you afford another

2:13
down? Can you afford to wait again?

2:15
Because when stock market people that

2:17
pound the table say, "Yeah, you need to

2:19
be in stocks because historically stocks

2:21
are going," they're right. All of those

2:23
stats are are 100% correct. And if you

2:26
are looking for market growth returns,

2:29
never ever ever ever ever buy an annuity

2:31
of any type, regardless of what anyone

2:33
tells you. And that's coming from Stan

2:35
the Annuity Man, the thought leader in

2:36
the space. So you take that to the bank.

2:39
Okay? But there comes a point time that

2:42
you get to an age you go, "Wait a

2:43
minute. If we do another downturn like a

2:45
2008, then I'll be this this age when it

2:48
comes back. Do I have that? Do I want to

2:51
do that again?" And maybe you do, but if

2:53
if you think about it for a second, it

2:55
would at least give you pause to

2:57
possibly consider taking some profits

3:00
off the table, okay, and locking some

3:03
contractual guarantees in just in case

3:05
there's a market hiccup.

3:08
If you have enough lifetime income in

3:10
place, social security, dividend,

3:12
stocks, pensions, annuities for lifetime

3:14
income, if you have that lifetime income

3:16
in place, market ups and downs don't

3:19
hurt as bad. Okay? But we all remember

3:21
when we didn't have that that type of

3:23
those guarantees in place. We're all in

3:25
the markets and it went down. It is a

3:28
nauseating thing to see and it could

3:30
happen. You know, we haven't had a um at

3:33
the time of this taping, we haven't had

3:34
a catastrophic type event, you know,

3:36
globally. Things can happen, right? What

3:40
I'm telling you is pi try to pivot to

3:41
lifetime income. If you don't want to do

3:43
it for yourself, do it for your spouse.

3:46
My wife, bless her heart, she's a

3:49
martyr. She's been married to me for 37

3:51
years. I don't know why she should not

3:54
have renewed the contract, but she did.

3:56
She could give a rip about investments,

4:00
nothing. All she wants to know is, "Hey,

4:04
Stan, if you die, just saying, if you

4:08
die, is there enough income coming in

4:11
for me so I can go see the kids and now

4:13
grandkids? Grandkids.

4:16
Can I go to Europe? Can I do these

4:17
things? Can I buy the shoes cuz I got a

4:19
good shoe game? And my answer to her is

4:21
yes. Every year we sit down to dinner

4:24
typically on our anniversary if I

4:26
remember it. We sit down and I say to

4:29
her this, it's kind of like a death

4:31
meeting. Eventually I'm going to die.

4:33
And and like my friend in the life

4:35
insurance business say, one out of one

4:36
of us is going to die. I'm like, thanks

4:38
Mr. Motivation. I always say to her,

4:41
this is what happens when I die. Here's

4:43
the life insurance. Here's the lifetime

4:44
income. Here's what social security will

4:46
be. this is your income floor. And at

4:50
that point in time, I get the same look

4:52
that she gave me when we met in college.

4:54
Like, I really like you. That look,

4:56
remember that. I don't get a lot, but

4:58
that look she gives to me. Okay.

5:01
If you're the best market maven in the

5:03
world, great. But think about the spouse

5:05
or think about the family. The other

5:07
thing I've done for my daughters who are

5:09
in their late 20s at this point, I

5:12
cannot believe that. Okay. I'm not sure

5:15
social security will be around for them.

5:16
So, what have I done for them? I've set

5:18
up pension payments to start when they

5:21
turn age 50. Okay. I bought deferred

5:23
income annuities for them to start at

5:25
age 50. Really, Stan? You did that? Yes,

5:27
I did that because lifetime incomes

5:29
means a lot to everybody, you know, in

5:32
their 20s, but when they turn 50, even

5:35
if they hate me, okay, that income's

5:38
going to hit and they're going to,

5:39
"Yeah, Dad was kind of crazy, but yeah,

5:41
we got this lifetime income stream." So,

5:43
I just want you to think you need to

5:44
pivot to lifetime income. Pivot for

5:46
yourself. Pivot for yourself and your

5:48
spouse. Pivot for your kids. But pivot

5:52
because there's somebody, whether it's

5:54
you, your spouse, or your kids, that

5:56
need you to pivot and put those

5:57
guarantees in place. Got it? Good. My

6:01
name is Stan the Annuity Man. See you

6:03
next time.