Podcasts about mygas

Jim and Chris begin with three PSAs on Social Security experiences, then answer questions on fixed indexed annuities with market value adjustments, SPIA payout options for the Minimum Dignity Floor™, and the tax aggregation rule for MYGAs.(11:30) In this PSA Georgette clarifies that her husband, born February 1, received January benefits at full age 70, […] The post Social Security PSAs, FIAs, SPIAs, and MYGAs: Q&A #2525 appeared first on The Retirement and IRA Show.

Chris's Summary:Jim and I continue our focus for Annuity Awareness Month by explaining how fixed indexed annuities work and the regulatory nuances that distinguish them from other fixed products. We walk through their structure, common misconceptions, when they can be appropriate, and how to compare them to MYGAs and buffered ETFs. We also highlight the […] The post Fixed Indexed Annuities: EDU #2525 appeared first on The Retirement and IRA Show.

In this episode, The Annuity Man discussed:  Why would you want to stop taking in income?  Three types of irrevocable lifetime income teams  Light-switch Annuity Products   Key Takeaways:  There a myriad reasons why you would want to stop taking income, and there are annuity reasons that allow for this. One reason could be if tax laws change in the future and you want to shut down the income stream to not getting taxed, or when you want the income to accumulate for your death benefit. The three types of irrevocable income lifetime income streams are Single Premium Immediate Annuity, Deferred Income Annuity, and Qualified Longevity Annuity Contracts.  A Multi-Year Guaranteed Annuity is the annuity industry version of a CD. It allows you to take out interest while keeping the capital intact, and it's a light-switch annuity product. Another light-switch product is an income rider attached to an indexed annuity.    "There are annuities that aren't light switch annuities: SPIAs, DIAs, and QLACs - but there are annuities that are light switch for income, MYGAS, and then income riders which are lifetime income products." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man discussed:  Should you purchase I Bonds?  Treasuries are as safe as it gets  Five places to put your money  Inflation is personal    Key Takeaways:  Purchasing I Bonds is a no-brainer. Go to treasurydirect.gov to buy direct from the treasury I Bonds.  Treasuries are as safe as it gets because they can tax us and confiscate our money to pay them off, and that would happen if we needed to do that. The downside to I Bonds is that they don't allow you to put as much money in them.  There are only five legitimate places to put your money that protects the principal and that you're not going to lose a dime, and you're going to get an interest rate. Those five are money markets, CDs, fixed-rate annuities - also called MYGAs, treasuries, and Triple A-Triple A insured municipal bonds. Inflation is personal. Don't get too caught up on inflation because most people in retirement will not be affected that much by it. Ask yourself if you're being affected by it, or are you overplanning?    "If it's a no-brainer, then it's a no-brainer, and I-Bonds are the ultimate no-brainer. You can do it every year, so why not put it on your calendar and do it every year? It just makes sense. " —  Stan The Annuity Man.   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man discussed:  Traditional laddering with MYGAs What is “reversing”?  Traditional laddering and reversing  Key Takeaways:  You do a traditional 3-year, 4-year. 5-year ladder if you are hoping that rates will go higher. It's a strategy you use when you want to have money as the rates are rising so that you can attach yourself and lock yourself in with those higher rates.  Reversing is the opposite of laddering; you lock in the MYGA for 10, 9, 7, or 10, 7, or 5 years because the rates are falling. This is also a great strategy to use with MYGAs since MYGAs are not callable, the rates are locked in.  If you are undecided whether you should ladder or reverse, you can put half your money in one and half in the other to get a more balanced outcome. What's important is that you should have some of your money be not callable.    "A lot of times when Powell raises interest rates, the annuity industry yawns. You can't time it; there's no sweet spot. There's no arbitrage moment." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

Jeff Affronti, president and CEO of FSD Financial Services joins our show to delve into the current landscape of annuities, focusing on market trends, the importance of annuity laddering, and strategies for younger investors. Jeff shares insights on using MYGAs for retirement income, the impact of inflation on annuities, and the latest product features and innovations in the industry. The discussion also touches on the risks associated with life-only annuities and the potential for entering the MYGA market.

In this episode of Protect Your Assets, host David Hollander discusses the role of annuities in navigating market volatility and protecting your wealth. He provides an in-depth look at fixed index annuities (FIAs) and multi-year guaranteed annuities (MYGAs), comparing them to other investment options like CDs. The episode also addresses common myths surrounding annuities, including misconceptions about death benefits and fees. Hollander explains the importance of understanding annuity fees, beneficiary designations, and how they can fit into a diversified investment strategy. Tune in for a clear breakdown of how annuities can be used to protect your retirement and help manage risk. You can send your questions to questions@pyaradio.com for a chance to be answered on air. Catch up on past episodes: http://pyaradio.com Liberty Group website: https://libertygroupllc.com/ Attend an event: www.pyaevents.com Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/ See omnystudio.com/listener for privacy information.

In this episode of Protect Your Assets, host David Hollander discusses the role of annuities in navigating market volatility and protecting your wealth. He provides an in-depth look at fixed index annuities (FIAs) and multi-year guaranteed annuities (MYGAs), comparing them to other investment options like CDs. The episode also addresses common myths surrounding annuities, including misconceptions about death benefits and fees. Hollander explains the importance of understanding annuity fees, beneficiary designations, and how they can fit into a diversified investment strategy. Tune in for a clear breakdown of how annuities can be used to protect your retirement and help manage risk. You can send your questions to questions@pyaradio.com for a chance to be answered on air. Catch up on past episodes: http://pyaradio.com Liberty Group website: https://libertygroupllc.com/ Attend an event: www.pyaevents.com Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/ See omnystudio.com/listener for privacy information.

In this episode, The Annuity Man discussed:  Gap Filling and Annuity Options: Social Security Timing and Considerations: Balancing Emotional and Financial Well-being: Flexibility and Lifetime Guarantees with Annuities:   Key Takeaways:  You need to find ways to cover your income needs before Social Security kicks in, typically from ages 62 to 70. Consider using strategies like Single Premium Immediate Annuities (SPIAs) or Multi-Year Guarantee Annuities (MYGAs) to provide contractual income during this gap. SPIAs pay a guaranteed income for a specific term, while MYGAs offer a fixed interest rate with the potential to preserve your principal. When deciding whether to take Social Security at age 65 or 70, consider your personal circumstances. Factor in the payments you'll miss while waiting for a higher payout and how long it will take to recoup those amounts. Think about living for the present and enjoying your money now rather than solely focusing on maximizing every penny. Reflect on the emotional and lifestyle aspects of your financial planning. Prioritize your personal happiness and well-being by doing things for yourself and living life to the fullest. Stan encourages turning on the lifetime income stream sooner rather than later, especially if you've spent a lifetime scrimping and saving. Use annuities to provide both lifetime guarantees and gap-filling strategies. Explore these options based on your specific needs and circumstances to bridge the gap between now and when Social Security kicks in. Consider both period certain Immediate Annuities for guaranteed income over a specific term and MYGAs for interest income while preserving your principal.   "If it sounds too good to be true, it is. Every single time. There are limitations to every strategy. You just have to weigh the good and the bad to see if it makes sense." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!   

In this episode of Advisor Revelations, Blake Phillips, Regional VP of Member Success at DPL, talks with DPL Internal Consultant Tyler Caummisar about MYGA ladders and why they are becoming a go-to strategy for advisors looking to optimize their clients' portfolios. From comparing MYGAs to traditional instruments like CDs and treasuries to understanding how laddering can diversify assets and mitigate interest rate risk, Tyler discusses how DPL's cutting-edge platform simplifies researching, purchasing, and managing annuities. Learn more at https://www.dplfp.com/series/advisor-revelations-podcast.

What is the risk with BDCs, or business development company funds? Edward in Illinois wants to know. Do Pebbles and Bam Bam in Kentuckystone have too much invested in T-bills? Are mutual funds or ETFs a better place for them to invest qualified money in the decumulation phase? Is there a difference between a traditional IRA and a rollover IRA? And Keith in Connecticut is 34 and wants a spitball on whether his investments are appropriate for his time horizon, today on Your Money, Your Wealth® podcast number 512 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Gus in Philly needs a withdrawal strategy for his dad's multi-year guaranteed annuities (MYGAs). Speaking of MYGAs, YouTube viewer Ken thinks everyone should invest in MYGAs and bonds, and nobody should ever pay a financial advisor. What do Joe and Big Al think? And finally, comments on your state of residence for tax purposes from Greg, the prorated sale of a primary residence, and bonds vs. pension from Keith, and 7SideWays tells the fellas to focus on PERMA already - but what is it? Access free financial resources and the episode transcript: https://bit.ly/ymyw-512 LIMITED TIME OFFER: DOWNLOAD The DIY Retirement Guide before the Special Offer changes on Friday January 17, 2025! SCHEDULE your Free Financial Assessment ASK Joe & Big Al for your Retirement Spitball Analysis SUBSCRIBE to YMYW on YouTube DOWNLOAD more free guides READ financial blogs WATCH educational videos SUBSCRIBE YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:09 - What's the Risk with Business Company Development (BDC) Funds? (Edward, IL) 04:04 - T-Bills, Decumulation, IRAs, and Investing Strategies (Pebbles & Bam Bam, Kentuckystone) 11:21 - LIMITED TIME OFFER: Download the DIY Retirement Guide by Friday, Jan 17, 2025! 12:24 - I'm 34. Are My Investments Appropriate for My Time Horizon? (Keith, CT) 18:22 - Multi-Year Guaranteed Annuity (MYGA) Retirement Withdrawal Strategy for Dad (Gus in Philly) 22:34 - Just Buy MYGAs and Bonds and Don't Pay an Advisor (comment from Ken, YouTube) 27:36 - Schedule a Free Financial Assessment with Pure Financial Advisors, Learn More about Pure's Fees and Services 28:47 - State Taxes vs. State of Residency (comment from Greg, Temecula) 30:17 - Favor Questions from People with Less than $6M Please (comment from Ed, YouTube) 31:08 - Prorated Sale of Primary Residence (comment from Keith, YouTube) 33:01 - $1M Bonds vs. $40K/yr Pension (comment from Keith, YouTube) 34:54 - Focus on PERMA Already (comment from 7SideWays, YouTube) 36:11 - YMYW Podcast Outro

In this episode, The Annuity Man discussed:  What a MYGA and SPIA is  MYGA to SPIA Strategy  Flexibility and Control    Key Takeaways:  MYGA is the annuity industry's version of a CD, offering locked-in, non-callable interest rates annually. SPIA is the original lifetime income annuity, with a long history dating back to Roman times and used for pension payments. Use a MYGA to lock in a guaranteed interest rate for a specific duration, such as five years then take out interest or up to 10% penalty-free, depending on the specific MYGA. At the end of the duration, the Myga can be transferred to a SPIA, with a non-taxable event transfer. The MYGA to SPIA strategy takes advantage of the control and flexibility that these two products offer. MYGAs and SPIAs also do not have any annual fees, which makes them very cost-effective.    "You can have your cake and eat it too - just a few bites. You can protect the principal. You can peel off interest, if needed, during that duration of the MYGA, and at the end of that term, you have full control of the asset." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man discussed:  How different your life could be with more money  Retiring from work and the markets Investing safely and smartly  Living off of guarantees    Key Takeaways:  People in the news and most financial advisors will tell you always to keep money in the markets, but you have to ask yourself this: will more money make your life any different?  If you love the ups and downs of the markets and treat it like a passion or a hobby, then it's alright to stay in it, but most people out there should be retiring both from work and the markets. When you invest money in the market, invest an amount that you won't care about, something that won't keep you up at night or upset your plans if you lose.  Remember the trifecta of safe money: MYGAs, CDs, and treasuries, which you can get at treasurydirect.gov. These three provide guaranteed annual interest rates, and you can live off of these guarantees.    "Retire from your job, retire from the markets. Live your life. There are no U-Hauls behind hearses; you can't take it with you." —  Stan The Annuity Man.         Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man discussed:  Lifetime income and principal protection  Return of your money  Peeling of the interest to solve income needs    Key Takeaways:  Annuities aren't only for lifetime income, some products just protect the principal like a MYGA or a Fixed Annuity.  With lifetime income, annuity companies are on the hook to pay a return OF your principal plus interest as long as you are breathing.  Will peeling off the interest, never touching the principal, and getting a return ON your money solve your income needs? MYGAs give you the option to lock in interest rates for one year up to ten years.    "If you choose the return ON then all we're going to have to do at the end of the maturity of that MYGA is roll it to another MYGA and hope that rates are at a good level. If rates go down, we can always transfer that [MYGA] to an immediate annuity for lifetime income. So you can play both sides a little bit." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man and Terry Savage discuss:  What is “chicken money”? Considering future crises in your financial plan  Seeking trusted advisors  Building an income floor    Key Takeaways:  Your “chicken money” is money that you can't afford to lose. CDs, treasury bills, money markets, AAA municipal bonds, and MYGAs are suitable options. MYGAs and CDs are great for principal protection and tax deferral benefits. Focus on having an income floor and principal protection in retirement plans.  It's important to consider possible future financial crises and plan for them, regardless of political outcomes. Social Security is a primary source of retirement income.  Seek trusted financial advice from fiduciaries who fully disclose costs and operate on a fee-only basis. See to it personally that you are able to customize your financial plan according to your goals.  Have an income floor to protect yourself against market fluctuations and ensure financial stability. Social Security is a strong foundation for retirement income. Build on it with guaranteed products. Consider both the short-term and the long-term in your financial plan.    "Chicken money, by definition, is money you cannot afford to lose, and as such, it belongs in things like short-term CDs, treasury bills." —  Terry Savage   Connect with Terry Savage: Website: https://www.terrysavage.com/  YouTube: https://www.youtube.com/user/TerryTalksMoney  LinkedIn: https://www.linkedin.com/in/thesavagetruth/  Twitter: https://twitter.com/Terrytalksmoney  Facebook: https://www.facebook.com/The-Savage-Truth-190870517609983/  New Book Link: https://www.amazon.com/gp/product/1119645441/ref=pe_2313400_441222210_em_1p_0_lm   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man discussed:  Locking in for three years and over  The top three safest money  When to go for CDs and treasuries    Key Takeaways:  Ask yourself how long you want to lock the money in for. MYGAs provide the highest contractual guarantee if it's three years and over compared to CDs and treasuries.  The safest money out of all three would be treasuries, the second safest money is CDs, and the third safest would be MYGAs. Buy treasuries only from treasurydirect.gov.  If you're going to lock in money for three years and in, the better option would be to go for CDs and treasuries because if it's less than three years, MYGAs historically will not provide the highest contractual guarantee.    "Three years and in CDs and treasuries three years and out multi-year guarantee annuities." —  Stan The Annuity Man.        Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

Jim and Chris sit down to discuss listener questions relating to Social Security benefits, WEP, HSAs, MYGAs, and their retirement planning process. (9:15) Chris begins the show by describing a current situation where he is trying to help someone with filing for Social Security and Medicare after spending most of their life going by a […] The post SS Benefits, WEP, HSAs, MYGAs, and Retirement Planning: Q&A #2432 appeared first on The Retirement and IRA Show.

In this episode, The Annuity Man discussed:  What does it mean to live off the interest?  Living off guaranteed interest  When interest rates go down  If you can't live off of the interest   Key Takeaways:  At the time of this taping, some money markets are 4, some CDs at five, and some MYGAs at five and a half. A lot of you out there have enough funds that whatever interests you can take off of those products is sufficient, and you never have to touch the principal.  There's no guaranteed return with index annuities, variable annuities, or buffer annuities. That doesn't mean they're bad products, but if you can live off of a guaranteed interest, why not do that?  When you lock in at a certain interest, it doesn't matter if the interest rates go down in the market - you'll benefit from what is contractually guaranteed.  Suppose we can prove mathematically that we can't hit your goal from living off of the interest. In that case, that's when we'll look for contractual guarantee products for lifetime income because they'll provide a higher payback of your money.    "You're going to ride that peeling off the interest as long as you can. You're gonna ride that train of never touching the principal and never paying a fee as long as you can, and if rates go down, then we will pivot " —  Stan The Annuity Man.        Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man discussed:  What are MYGAs and SPIAs?  Annuities are contractual commodities  MYGA to SPIA    Key Takeaways:  A MYGA, Multi-Year Guaranteed Annuity, is the annuity industry's version of a CD. The good news about MYGAs is that the interest rate is locked in and non-callable. This means that when interest rates go down, you're going to be locked in.  Annuities are contractual commodities, meaning that when you're buying them for the contractual guarantees, you can shop all carriers for the highest contractually guaranteed payout for your specific situation based on how you structure them.  Through MYGAs, you can protect the principal, peel off interest, and retain liquidity. After the duration of the MYGA, we can then shop all SPIA carriers and transfer the MYGA to the SPIA.    "You can have your cake and eat it too, you can protect the principle, you can peel off interest if needed during that duration of the MYGA, and at the end of that term, you have full control of the asset." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man and Terry Savage discuss:  401k and annuities  What does it mean to be a fiduciary?  Annuities are commodity products Always have some chicken money   Key Takeaways:  When you are in the accumulation phase, there should be no limitations at all on the upside. You're better off focusing on accumulation during the 401k time period and then at the end pivoting to an immediate annuity for a lifetime income stream.  Being a fiduciary means more than just having a plaque on the wall. Anyone in the financial business should be putting their client's best interests ahead of themselves every single time.  People need to realize annuities are commodity products. Not one company is better than the other. Not one product is better than the other. These quotes change like a gallon of milk every seven to 10 days so you have to quote for the highest contractual guarantee. Everybody should have some chicken money. The top four chickens are treasuries, CDs, money market, and MYGAs which are the annuity industry's version of a CD. These are all for principal protection, no annual fee, guaranteed interest rates for your chicken money.    "There is one annuity that you might have that will keep up with inflation and it's called Social Security." —  Terry Savage   Connect with Terry Savage: Website: https://www.terrysavage.com/  YouTube: https://www.youtube.com/user/TerryTalksMoney  LinkedIn: https://www.linkedin.com/in/thesavagetruth/  Twitter: https://twitter.com/Terrytalksmoney  Facebook: https://www.facebook.com/The-Savage-Truth-190870517609983/  New Book Link: https://www.amazon.com/gp/product/1119645441/ref=pe_2313400_441222210_em_1p_0_lm   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode of Protect Your Assets, host David Hollander unpacks the complexities of fixed indexed annuities amidst a soaring stock market. As the S&P 500 reaches unprecedented highs, listeners are eager to participate in the gains without risking their entire investment. David addresses the mixed sentiments surrounding annuities, often seen as a financial enigma, by separating myths from facts. He introduces five strategic ways to invest in the market, with a special focus on fixed-indexed annuities as a tool for protecting against loss while still capturing potential upsides.   Additionally, David explores the impact of interest rate changes, the concept of MYGAs (multi-year guaranteed annuities), and how annuities may be beneficial for your financial planning. Whether you're considering entering the market, seeking to protect your gains, or curious about annuities, this episode offers valuable insights into making informed decisions in a volatile market environment.  You can send your questions to questions@pyaradio.com for a chance to be answered on air.   Catch up on past episodes: http://pyaradio.com    Liberty Group website: https://libertygroupllc.com/   Attend an event: www.pyaevents.com   Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/  See omnystudio.com/listener for privacy information.

In this episode of Protect Your Assets, host David Hollander unpacks the complexities of fixed indexed annuities amidst a soaring stock market. As the S&P 500 reaches unprecedented highs, listeners are eager to participate in the gains without risking their entire investment. David addresses the mixed sentiments surrounding annuities, often seen as a financial enigma, by separating myths from facts. He introduces five strategic ways to invest in the market, with a special focus on fixed-indexed annuities as a tool for protecting against loss while still capturing potential upsides.   Additionally, David explores the impact of interest rate changes, the concept of MYGAs (multi-year guaranteed annuities), and how annuities may be beneficial for your financial planning. Whether you're considering entering the market, seeking to protect your gains, or curious about annuities, this episode offers valuable insights into making informed decisions in a volatile market environment.  You can send your questions to questions@pyaradio.com for a chance to be answered on air.   Catch up on past episodes: http://pyaradio.com    Liberty Group website: https://libertygroupllc.com/   Attend an event: www.pyaevents.com   Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/  See omnystudio.com/listener for privacy information.

Summary In this episode of That Annuity Show, Bobby Samuelson, President of Life Innovators, discusses the current state of the annuity market and the challenges and opportunities it presents. He highlights the entry of new companies into the market and the different strategies they employ. Bobby also discusses the role of proprietary indices in annuities and the need for innovation in product development. He emphasizes the importance of technology in enabling advisors to tell the annuity story more effectively. Overall, Bobby provides insights into the changing dynamics of the annuity market and the evolving expectations of customers. Takeaways New companies are entering the annuity market, with many focusing on multi-year guarantee annuities (MYGAs) as an entry point. The annuity market is highly competitive, and companies need to differentiate themselves through innovation in product development. Proprietary indices have played a significant role in the annuity market, but there is a need for more innovation and a focus on the underlying product structure. The annuity market faces challenges in attracting and retaining customers, and companies need to adapt to changing customer expectations and preferences. Technology can play a crucial role in enabling advisors to sell annuities more effectively and reach new markets. Chapters 00:00 Introduction and Focus of Bobby Samuelson 03:45 New Entrants in the Annuity Market 07:43 Competition and Innovation in the Annuity Market 13:42 The Role of Proprietary Indices in Annuities 20:31 Challenges and Opportunities in the Annuity Market 27:12 Changing Customer Expectations in the Annuity Market 30:44 The Role of Technology in the Annuity Market 35:37 Conclusion and Closing Remarks Paul Tyler (00:03.644) Hi, this is Paul Tyler and welcome to another episode of That Annuity Show. Tisa, good to see you. Tisa Rabun-Marshall (00:09.89) Good to see you, Paul. Good morning, everyone. Paul Tyler (00:11.708) Yeah, we're having a lot of fun at work these days.  Paul Tyler (00:29.411) Ramsey Atlanta is like, I don't want to know. I'm not sure I want to know what Atlanta is like. Ramsey Smith (00:32.292) It's sunny. It's chilly, but it is bright sunny day. Can't complain. Paul Tyler (00:36.464) Okay. All right. Bobby, hey, listen, first of all, thanks for coming back. It's always good, you know, when guests, we have guests on once and they say yes to coming back. It's been a couple years, but we are lucky and fortunate to have Bobby Samuelson, President of Life Innovators, on our show. And Bobby, hey, just tell, it brings up the speed, you know, tell us, you know, what's your focus these days? Bobby (00:36.797) Same in Charlotte. Bobby (00:50.781) See you back. Bobby (01:02.789) Yeah, sure. So I've been doing, um, obviously worked at midlife Bright House for a few years. Less than 2017 started up a newsletter that I actually had done prior to going to Bright House. So I still do that called the life product review. That's, you know, three to 4,000 words every week on what's going on in the life insurance side of the world. Um, and then we also started up an annuity product development company. And so basically we serve as an outsourced chief product officer to small and midsize insurance companies. And so a lot of these newer entrants getting into the space. can't hire product talent, can't find product talent. And so they use us as their chief product officer effectively. And then we've also picked up, I'd say a few kind of insurance companies that are either doing other types of products and want to get into annuities or maybe are already doing annuities, but haven't done for example, an FIA or a RYLA or even a VA and they hire us to help them build those products. And then along the way with that, we kind of realized that wait a second, we're doing, you know the life product review, can we do something? on kind of what's going on in the competitive landscape on the annuity side of the world. And so we started a newsletter called the annuity edge. And that is basically a weekly digest of, you know, everything going on in the competitive side of the annuity world. And so we, we scan, we look at all the filings that come through the States and the compact, we look at all the stuff that comes through competitive scan. We look at stuff that comes through, you know, the various rate providers, plus the conversations we have with carriers. And we basically write all that up and sort of a, a narrative kind of format to try to tell the story of. What's going on every week in annuities. And, you know, look, we've had, we've had plenty to write about. Like there's tons of stuff having, it feels like every week there's something going on. New products, significant rate changes. We usually do like a market update every week because the rates have been changing so much. We also run every week a weekly index spotlight. So we go on and take, you know, there's 180, uh, engineered indexes. That's what we call them engineered indexes in the market. We take one every week and sort of dissect it. Talk about. why it worked well over a certain period of time, why it probably didn't work well in 2022, how it looks like the index is calibrated kind of going forward, and try to again, kind of tell the story. And so in our view, there's so many places in annuities where you can get rates, and there's places where you can get, you know, flyers, and there's places where you can get kind of raw materials, but our job is to craft all that into a story so that people can sort of digest it. And so we got six people on the Life Innovators team, we all kind of chip in different. Bobby (03:22.221) sections of the annuity edge. So I'd say most of what we've been working on these days, besides just product development, it's just cranking out that annuity edge, two or 3000 words every week on what's going on in the, in the, in the annuity market. And it's been, like I said, no shortage of things to write about. In fact, Nassau is going to be featured in next week's edition. The new income writer you guys released. Yes, we were just ripping it apart yesterday and we're going to write a little bit. So I'll probably, I'll send you a little draft before you, before we release that. So. Paul Tyler (03:45.44) Good. Paul Tyler (03:49.672) Oh, oh, tremendous. Well, yeah, first of all, thank you. And we, you know, we talk a little bit about the launch and kind of where this is headed. I'll lead off because wow, are there a lot of threads to pull in what you just talked about, but let's sort of talk about MyGa's new entrance. Like if I just stuck there, you know, and kind of look back at 2023. Man, do we have a lot of new entrants coming in here. I think, no, I think my guess, and it's not just about my guess, I think this was an easy entry point for new companies. You think we're going to see new names, a lot of new names this year, or will we see those new names now expanding into the FIA space? Bobby (04:15.31) Oh yeah. Bobby (04:31.973) Yeah, both. Um, you know, when we talk to companies that are not in our business, that are looking to get in our business, I'd say there's, you know, two or three different playbooks that they're all kind of executing on. Some of them are, are more asset oriented. Some are more operational oriented. They actually really want to run an insurance company. They like the insurance company economics, which, which makes sense to others are more liability oriented, they're trying to figure out, okay, if I take these assets on, for example, you know, longevity, mortality, morbidity, sort of the health. metrics side of the world, or even interest rate risk. Um, maybe they think they can do better with it. And so every, every new entrance has sort of a different angle on, on what they want to do in the insurance space. But for most of these companies, MYGAs is sort of seen as the natural entry point. And it's just such a commoditized market. If you come in with a hot rate, no one's going to, you know, people don't need to have like a 30 year relationship with an insurance company to sell a MYGAs product. You can kind of get in, sell a MYGAs, um, you know, call it a day. And so I think that's, that's. Ramsey Smith (05:26.348) Hmm. Bobby (05:30.481) the appeal of the market. I think it's also the danger of the market because it is so commoditized. So some of these companies have a hot rate and then all of a sudden it can flip to the other direction. And they end up kind of feeling the case usurped by other companies that get in the space. And so every company doesn't say most companies don't view my guy as their permanent strategy. They view it to your point as sort of like, get in, get the new business operations and tech kind of get the skids greased on that. And then once we get the get, get our Business sorted out, then we can start to pivot over to the real prize, which is, which is FIA and there's a variety of reasons why companies view that as the real prize. Uh, that pivot is really, really hard. So the joke that I make to insurance companies when they ask me about sort of how long do we need to wait until we go sell FIA, I said, well, listen, let me give you an example. So I can go out to this track in the school across the street from my house and I can, and I can run a 400. Okay. And you can run a 402. Okay. Neither of us are going to be in the Olympics. So even though we're doing the same activity as Olympians, we're not doing it to the same degree. So if you want to make the jump from my get an FAA, that's like you go into the track, my gets going to the track and running a pretty quick lab, selling up, you know, $8 billion a year of FIA is like being in the Olympics. And so every company comes in and says, Oh, well, we'll just going to do some my, and then we're going to sell a billion dollars of FAA. And it's like, yeah, that's like literally me going to the track and then trying out for the Olympics. Like that is a much harder, longer process. You know, then people think, so I think there is a little bit of realism now in the market on how hard it is to make that pivot from my God to FIA. That being said, when we get calls every week or an hour week, every month from some company that's either not in this business or it's kind of parallel ancillary to this business, looking to get into the space, buying a shell company, you know, buying one of the many companies that are on the block right now. And so I do think we will see more entrance getting in. Um, and I think that's generally a good thing. I mean, annuities are. Effectively a financial product. So more companies in more competitive rates, more competitive environments, probably pretty good for customers. Is it going to be great for all these companies and their own economics? That's to some degree a separate question. Like I think, I think the jury is still out on whether or not it's this playbook can be repeated over and over and over again, but, but there are plenty of companies out there trying to give it a shot and I think, I don't think that's going to change anytime soon. Ramsey Smith (07:43.616) So let me ask you this, and I've had the similar observation. I mean, my view is that the annuity market, MYGAs and FIAs, it's a pretty established market. It's very competitive. Leadership in the market sort of rotates as different companies decide they really wanna focus on it. So in some ways, it's a vibrant market, especially in the last couple of years, but it's, I guess, in sort of blue ocean, red ocean terms. Bobby (08:13.281) Yeah, it's red. Yeah. Ramsey Smith (08:13.32) Right? It's a place where there's already a lot of people. Yeah, it's very red. So I've been surprised as I talked to sort of aspirational players, I've been surprised at how many of them want to jump into this space. And I'm just wondering why you think that is, why they aren't looking for greener pastures. Bobby (08:33.957) think there's an established playbook, honestly set down by a theme that this can work. And by the way, I think NASAL is becoming another kind of proof point of if you stick with it long enough and you kind of are consistent enough, you can build a real franchise, you know, in this space, even though to your point, Ramsey, it's total red ocean. And so what I hear a lot of times, and this is kind of a joke, but it's not really a joke, is every time we talk to one of these guys and maybe you have the same experience. Ramsey Smith (08:44.405) Yeah. Bobby (09:00.945) They all say, well, yeah, but we do a great job managing assets. We're kind of better than everybody else and we've got some special stuff. And so there is, I think there's also a little bit of this. Maybe you call it arrogance, maybe call it optimism. Maybe you call it, you know, realist them that they've had a great track record. Some of these, especially as asset managers come in and sort of say, yeah, but we've got the secret sauce and our secret sauce works really well with, you know, annuity liability, uh, structures. And so, you know, we've got the raw materials and what we really need to do is just kind of package it up and cook the meal. And then everybody, all the diners are going to love it. And I think, and so I think everybody kind of has a view that they've got some sort of special ingredient that they're going to sprinkle into the, to the meal to make it work, but to your point, I mean, it's very much red ocean and that's why we, I try to communicate that to all of our prospective clients that this is really, really hard. And a lot of times I feel like I'm kind of the guy raining on everybody's parade in this conversation because everyone gets excited about the opportunity to be the next to theme. And my point is, yeah, but a theme was here 10 years before you were, and the world looked completely different back then replicating that playbook is going to take another 10 years. And so don't expect to show up and have success overnight. And by the way, you say you have special sauce. Everyone I talked to says they have special sauce. If they didn't think they had special sauce, they wouldn't be buying a life insurance company and trying to get into the space, because to your point, it is heavily commoditized. Ramsey Smith (10:13.862) Mm. Bobby (10:19.497) Over time, we'll find out who really has the right playbook. And by the way, I think it's a lot more than what most of these asset managers and private equity firms think they think we've got great raw materials, we're going to cook a great meal. Well, in order to do that, you've got to have a great chef. And what that means, and you know, Paul, from your vantage point is you got to have great distribution relationships. You've got to have compelling product. You've got to have a great marketing story. You've got to have great systems and processes. Your new business needs to be flawless. Your agent portal needs to be good. Your client portal needs to be good. There's branding. corporate story ratings. Like when you really think about it, yes, ingredients are a big piece of the puzzle, but the actual construction of the meal is where a lot of these firms, I think, kind of miss the importance of that. And so they come in thinking, well, I've got great raw ingredients. I'm going to be, even though it's Red Ocean, I'll make it work. Not realizing I've got to assemble a team to make this work. And that's where I think the jury's still out on some of these firms is do they have the staying power so that over the next 10 years, they'll figure out how to really come in. Kind of build that persistent business. Some will and some won't. And by the way, I mean, we've seen some fantastic examples of where this has worked recently. Like I would throw a speed out there. A speed is a great example of a company that kind of came out of nowhere and has built a brand and has fantastic processes, like they're sticking around very clearly. Um, I'd say, you know, I've Dex this is sort of showing signs of that too. Other firms are much more transactional and those are different paths, right? Those are different. They're making different choices. Paul Tyler (11:22.761) Yeah. Bobby (11:44.061) I think we're going to see that again, play out over the next few years and how that, how that stuff works out. Paul Tyler (11:49.784) Yeah, I've heard really good things about the speed of what Lew's doing there. I think it's a real interesting company. I think I saw it in some of our stats. I think they did like two billion dollars of sales or something last year. It's impressive. Yeah, Bobby, thanks for the high praise. It's hard. This business is a... It's a hard business. Now, I've had the opportunity to do this twice. Once with F&G when we rebrand, bought it from Old Mutual, took it to a certain point. team there has done a spectacular job taking it to the next level. Got the opportunity with TISA to do it a second time. And I think to your point, where are you starting from and when are you starting from it? Right? Like the starting point with F&G, you know, in 2011 was very different than, you know, Phoenix in 2016. And the market's changed, right? The distribution environment has changed. The product has changed a lot. Bobby (12:21.201) Yeah, they have. Paul Tyler (12:48.156) I do think the one thing that, you know, what remains constant, that's always a good opportunity, is to your point, it's persistence and consistency is incredibly valuable in this marketplace. Big splash, high rates, yeah. So, if we shift gears to product, maybe for a few minutes, you mentioned your focus on proprietary indices are a lot. We have a lot. We have quite a few in Bobby (13:00.217) Yep. Yeah, I completely agree. Paul Tyler (13:18.108) I would say the bloom came off the rose in the pandemic when we saw incredibly high volatility and then we started to see high rates, which allowed companies, yes, on the MYGAs side to offer high rates, but then also on the FII side, all of a sudden we could offer much higher participation rates on conventional indices like the S&P 500. Where are we headed this year? Bobby (13:42.349) Yeah, we, uh, we, as a firm draw a distinction between product development and index development. And those are two totally different things. Um, and so we, as a firm don't do much in the index space. We, we write about them. We watch them, but when our clients say, Hey, what indexes do you guys like? We go, we don't, whoa, whoa. That's not our business. You can put any index you want to into your FIA. And if you pick one that is optimized for back tests and is not going to work well in the future, that's. Kind of on you, right? We're not, we're not. So, so I think from our point of view, we're trying to be more agnostic. Unfortunately, I think a lot of people were not agnostic. I think there was a big story coming in really 2015 and kind of beyond, maybe even going back to 2012, this, this narrative that these indexes were going to completely change the economics of the product, illustrations, you know, kind of seemed to back that up when you got FIAs illustrating the top FIA right now illustrates at 33%. So when you think about a, a principal protected non-registered product, yes, that's real Ramsey. non-registered product illustrating at 33% returns. That is telling, we are very far away at that point from the traditional FIA story of downside protection, upside potential fixed income alternative. We have now stretched somewhere deep into this idea that FIA can be an equity replacement with no risk. And I think the FIA world effectively levered up on that concept. because of the illustration regulations and because of all the money to be made in those indexes and because advisors were looking for a new story to tell. There was a lot of reason. It wasn't just one cause where all these calls kind of lined up. And of course the banks and asset managers are more than happy to, to supply what is effectively an infinite number of indexes into the market. I mean, the joke I always make on stage is we've got 180 there in FIA and IUL products, what is the possible number of indexes that could be made? And the answer is what's infinite. You can create an infinite number of indexes. And so this is just a very small subset. The subset, by the way, that illustrates well and the back test well, and that, and that carriers felt like had a good enough story to put in there, put in their products. So I think, I think we as an industry levered up really hard on that. Um, and it worked great in a low rate environment because you could show the high par rates, even though people didn't realize, yeah, you get a higher par rate on an index that has very low intrinsic equity participation. And so the effective result is actually very similar to if you just got a true par rate on the S and P, but it was sort of gussied up and other, you know, the fixed income sleeve was adding some. Bobby (16:06.565) some alpha on the illustration. Like you kind of, your Sharpe ratio looks really high on these things. So anyway, we levered up on that. Yeah. 2020 was an issue for sure, but most indexes were actually positive in 2020. So at least, at least they sort of showed, okay, not compared to the West, where the S and P was, but they sort of showed, okay, 2022 to me was the year where everything sort of fell apart because all these indexes, most of them had pushed into long duration, fixed income that got crushed and then the equity component crap got crushed, you know, 21 comes around S and P has an amazing year. I'm sorry. Tisa Rabun-Marshall (16:17.422) Thank you. Bobby (16:35.729) 2023 comes around, S&P has an amazing year, but these indexes lag. Why is that? Well, because the way that it happened was you had a few stocks in the S&P that drove the return and a lot of these indexes were either multi-asset indexes or calibrated towards low volatility or maybe even equal market cap weighted exposure to equities, but that didn't work in 23. And, and at the same time we had rates going up for most of the year and most of them were allocated there and so they get crushed and so to me, 23, 23 is actually the year of like disillusionment. 2022 is everything went down and so did these indexes. Oh, well, 2023 is like. Wait a second. You know, we were supposed to have a great year this year and we didn't. Why, why did that happen? So what I've seen this year is all the, all the banks and as a managers have been coming out with kind of next generation concepts that don't use long duration fixed income and have higher volatility targets or use volatility overlays for their, I mean, sorry, use the duration overlays for the fixed income sleep. Like they're trying to sort of, or they just get out of fixed income all together and just use cash. They're trying to sort of say, it's sort of like when my kids don't apologize, even though they're effectively apologizing. Okay. So it's like an effective apology of saying, we're sorry for all this stuff we gave you in the past, we're going to fix it in the future with this new variant, solving the problem of 2023 or 2022, you know, for 2024 and beyond. Okay. Well, that just means there's gonna be new problems that these new indexes aren't contemplating that will show up in the future. And so from a product standpoint, you know, if you were to say what, you know, what was innovative over the last 10 years, so much of it revolved around those indexes. And That I think what we're seeing is that was not innovation that was reshuffling and creating new trade-offs that now are showing their teeth. And people are going to your point, Paul, like, well, why don't I just go back to the simple stuff like SMP 500 or like you guys have a NASDAQ sleeve, like why not just go back to a NASDAQ. Let's go back to the basics. And what's interesting is for a lot of the new indexes that we track, a lot of those indexes are going back to simpler structures. I was looking at one yesterday that. The old version of it used to be sort of a long duration fixed income equity allocation. Now it's just pure equities and cash. So effectively all it is just a par rate on the S and P 500 stylized as an excess return index with a decrement on it as something different. Well, all that is, it's just exposure to the S and P with potentially a slightly more stable, you know, par rates. And so anyway, that being said, like. Ramsey Smith (18:40.512) Mm-hmm. Bobby (18:53.573) I think that's not innovation. I think where we need to go as an industry is, okay, what does the chassis of the future look like? And I think that's where it's really, really hard. So one of the things we tell customers, our name is Life Innovators. Theoretically, that means we should do innovative stuff. We have built some really innovative products. They have had trouble selling in the market because at the end of the day, most people who sell annuities just want to drop a ticket and move on. They don't want to explain, they don't want to learn something new, they don't want to go figure out a new story, they just want to do what they've been doing and drop the ticket and move on. So I think... Part of the reason indexes were so attractive as an innovation substitute was it didn't require the advisors to change their story at all. But real innovation requires a little bit of work. And so I think where's the blue ocean kind of back to your comment, Ramsey, like it is an innovative products, but the challenge in our business is agents and IMOs don't want innovative products. They say they do, but they're actually don't because it messes with the system and the system works really well. And so. You know, like give me innovation on the very fine little edges. Give me innovation that makes it illustrate better. Give me innovation that pays me more comp, but don't give me innovation that actually forces me to change my story and educate advisors because that takes time, energy and effort, and I'd rather just keep dropping tickets and move on. And I think that's a little bit of the challenge here is like the blue ocean's hard to get because everybody's making so much money in the red ocean and they don't really want to go shift over to the new stuff. So that's a little bit of where I think we're at a break point is like we, the world has changed. Our products need to change too. That is not just index development, it's product development. And yet that's the hardest thing, frankly, this industry has to do. And it takes a long time for that to work. Ramsey Smith (20:31.784) Yeah, you know, I think that, sorry, Tisa, let me just, I wanna, I'll come back. But this, in my view, this ultimately mirrors some of the same things you see in the mutual fund industry, right? Like, you know, active versus passive, versus passive funds, thematic funds. At the end of the day, like, the storytelling part of it is just part of the ethos of... Tisa Rabun-Marshall (20:32.063) Yep. Tisa Rabun-Marshall (20:36.462) Sure. Ramsey Smith (20:58.844) of personal finance, I would argue even institutional at times, certainly personal finance. And so I think that, I think it's not unique to this industry. I think you see it sort of, you know, across the board. I would ask, you know, so what do some of these, what do some of these chassis of the future look like? So what is it that, what are some of the things you suggested that you think are a better solution but are a little bit early because people need to... Because the people that sell them need to better understand how they work. Bobby (21:30.277) Yeah, great question. And by the way, I completely agree. I love the active versus passive analogy for engineered indexes versus like the S and P 500. And I actually make the joke that these engineered indexes aren't even active. They're algorithmic, right? You set them up and then you're hands off. So at least with an active manager, they can change their strategy along the way, as long as they stay within the fund mandate, but these indexes, like you set it up in 2011 or 2012, you can't go in and change the index rules. You got to create a new version of it, but you can't go in and like, Ramsey Smith (21:39.132) Yeah. Bobby (22:00.005) So it's sort of, it's almost like a different category, but I totally agree. It's it's we've got ebbs and flows on that product chassis, you know, they're tricky because we have these defined categories in the industry. So let me give you one that I think is kind of interesting that we've seen more of, uh, this sort of idea that you can do is across between a my go and an FIA. And this idea of like a, we, we haven't got a good analogy on this. Everyone's calling a mafia, right? Like a multi-year FIA, multi-year guarantee FIA, make FIA. No one knows what to call it. Ramsey Smith (22:06.613) Yeah. Ramsey Smith (22:27.649) Alright. Bobby (22:28.297) But if you think about it, it's a logical concept. So for example, what is a my go? My go is a marketing term for a fixed deferred annuity with guarantee option periods. Okay, well, what do you call an FIA product that has, for example, a five year or seven year or even a 10 year guarantee on the cap level? That's a my go. It's a multi-year guarantee annuity. We're just guaranteeing the cap. We're not guaranteeing a return, we're guaranteeing the cap. So that's an interesting concept. You can't do that when interest rates are super low, the yield isn't there for it. With. Tisa Rabun-Marshall (22:28.462) Thanks for watching! Ramsey Smith (22:48.748) Hmm. Bobby (22:56.133) The current environment, you can get away with that. We see more and more companies doing things like that or combining sort of base guarantees with some sort of guaranteed index exposure on top. American Life has done this, Ibexas has done this. We feel the companies out there that have kind of done this. That's a category that sort of fits between. On the variable side, think about like a contingent deferred annuity. CDAs have been the next big thing for years. And there's all the logic in the world for why CDAs make sense, right? You can have separately managed accounts when you can layer a guarantee on top of it. Like if you describe that to an RAA, they would all say, I'd rather have a CDA than to talk about variable annuities. And yet CDAs never go anywhere because it's a change in process. There are some new rules built around it. Like, and people don't ultimately want to make the, yes, you're going to say something. Ramsey Smith (23:43.268) Oh, well, I'm going to say that that's a battle over who owns the assets. Right. So if it's a, if it's a CDA, then the RRA keeps the assets. If, if it's not a CDA, then the carrier has the assets and, you know, just. Yeah. So this chair has company does. And so, and, and my, you know, my only, I like conceptually, I like the CDA, but from a risk management perspective, I mean, you're, you're selling, you're just selling pure tail risk. Right. And, and, and so. Bobby (23:47.288) Yeah. Bobby (23:53.921) Insurance company, yeah, totally agree. Ramsey Smith (24:12.454) I like it less from a risk management perspective. Just my two cents. Bobby (24:14.777) It's, you know, it's interesting. We have a client who's done, yeah, we've done clients who've done CDA or has done a CDA and I say, if you do it right, the pricing actually looks a lot like a VA. It's not, it's not, it's not as much of a crop. There's not as much of just tail as you think, cause you can actually set up some structures on the, on the fund. Um, and, and also if he has a lot of cross-pollination between like the M&E, the fund expenses and the rider fee, whereas you have to be very explicit with that on the CDA. But to your point, it's a different structure. It's a different owner. It's kind of a different ownership mentality. Ramsey Smith (24:28.529) Yeah. Ramsey Smith (24:37.347) Yeah. Bobby (24:42.673) So I say that's one, you know, RYLA versus VA, we're seeing blurred lines there too, like equitable, huge in the RYLA space, where they are now adding RYLA funds to some of their traditional VA contracts. Like, again, why do we have a separate category for RYLA? Really all that is just a subset of variable annuities. So those are the sorts of things there. And then on the income side, you've got all these ideas of like, how do you get work-side income type products? How do you get sort of the built-in defined income features inside of group plans? Like... That whole world is trying to get traction. There's all sorts of issues there. I'll give you one that's personal for me. We built an FIA product that effectively has a lot of the characteristics of a RYLA, but it's a non-registered product. And so it's an FIA that allows you to have downside exposure without piercing principle. We call it a FYLA, right? It's kind of a joke, because it's not really a category either, but it's somewhere between an FIA and a RYLA. There's no trade-offs. Paul Tyler (25:33.088) Hmm. Bobby (25:37.893) So if you're a producer and you want to sell, you know, 0% floors, just like a normal FIA, you can do it. If you want to have negative floors, you can have access. So it's a technological advancement in that it gives you all the features and benefits of an FIA with some of the features and benefits of a RYLA with no trade-offs. And yet people are choking on the fact that it's just a little bit slightly different than a normal FIA product. And it's like, Yes, but it gives you this ability to have these annual reviews with clients where you can talk about risk appetite and you can allow, you know, clients who've had great gains can put some of that at risk, get way more upside and allows you to look more and more like equities over time. Like it opens up this incredible conversation from a planning standpoint customers and in terms of real returns, we have two academic papers showing that these outperform FIAs all day every day because of the larger risk exposure does not matter. Agents who get it love it. Most agents are like it, this, this is a little bit different. Ramsey Smith (26:11.052) Mm-hmm. Bobby (26:33.853) And I'm a busy over here selling like my normal FIA with this, you know, index that I like talking about. And so like, don't, don't bother me with any different. I'm, I'm busy. I'm happy to do what I'm doing. And that's, I think the challenge in this space is there are clear. Chassis improvements we can make. Um, and again, I even argue this NASL income writer you guys came out with. It allows us sort of higher upfront with a lesson to tail. Like that's a chassis improvement. North American control X chassis improvement allows multiple income streams all at once. Whether advisors care about it is completely a separate question. And whether they're going to take time to learn about it. Again, completely separate question. Tisa Rabun-Marshall (27:12.534) Thanks, Bobby. I want to go back. So let me just say, I like this restaurant analogy that you were playing with, special sauce and the meals and all of that. So I kind of want to go back to that a little bit where you're talking about new entrants into the market and why they were coming in and what they think they can offer. There's no special sauce. We're innovatish who are not really innovating. And talk a little bit about the customer. So I'm going to call the customer the diner, right? And can you talk a little bit about what you're seeing changing there? We've talked about what's constant and what's maybe not changing, but I'm curious what you've seen, maybe what you're advising your clients on. If it's not going to be product-based, what are their expectations? Are they looking for the line cook to become the personal chef? Where are you seeing this shift in what the diners, the customers, investors are looking for from these carriers outside of product? Bobby (28:04.205) Yeah, great, great question. Um, great question. So, so who is the customer? I think is always the operative question here. And I'd love to say that people buying the annuities of the customers, but y'all know that's not the case, right? The customers are the advisors who are selling this stuff. And then, and then in a lot of ways, kind of, and especially in our world, right? The IMO channel, it's, it's the upline on what's the IMO and, and they're the ones who are really kind of consuming, if you will, the meals we're creating. And I want to be clear too, I'm a believer in product innovation. And I do think that's a piece of the puzzle, but it's, it's the way you build long-term market share, not short-term market share. So, so I think there is always and always must be an innovative product angle to what you're doing, not because you're going to sell a lot of it out of the gate, but because over the next 10 years, Paul, to your point on persistency and consistency in the business and stickiness, that's how you build long-term stickiness, but you can't, you can't expect mass adoption, you know, on, on day one. So what do they, what do they want? What they, what I think they want. So increasingly it's changing a little bit. What I think they want is they want simple processes. Like we, as speed is just a great example of this. They have a fantastic new business process and their advisors who just love doing. Working with the speed of because of the process. And so I think, I think simplification of the process is part of it. Um, I think it's a big piece of it. I think, I think a corporate story matters too. Tisa Rabun-Marshall (29:20.203) easily. Bobby (29:26.181) You know, feeling like they're connected to the company, feeling like there are people there that they like, like this is a thing today, a relationship business that matters and that counts for a lot. Um, and then I think they are looking for stories to tell in terms of product to fill niches that they may not fill. Today are kind of around the edges. Um, but look, that's not, that leaves a lot of open turf that I think is grabbed by the incumbents. And so that's why, even though yes, the top five are always trading share, the top five are pretty stable. Tisa Rabun-Marshall (29:32.59) Thank you. Bobby (29:56.633) Right. In the FIA world, it's, it's kind of a theme, Allianz American equity. Like, you know, those companies stay up there kind of for a re Sam and like, they stay up there for a reason, which is they've already got the mind share on all the, like all the main dishes are covered. We're, we're dabbling in the appetizers, the desserts and the cocktails, but, but they're sort of cooking the main dishes. And I think that's a little bit of where, you know, for a lot of companies, they kind of realize where they are in the meal. Um, and recognizing that going in and trying to say, like, don't sell Allianz is, is very, very difficult. versus having something that tells a nice story for the customers where Allianz is not a fit. And that's where I think most of these companies were kind of trying to say, okay, how do I work kind of work around some of this stuff? Yeah, competing heads up against Allianz and Athene is just exceedingly difficult, especially Athene these days, it's almost impossible, frankly. Tisa Rabun-Marshall (30:31.523) Thank you. Yeah, around that. Paul Tyler (30:44.004) Yeah. Well, Bobby, I know we're kind of close to the top of the time. We will not do this topic justice, but technology. And first of all, thank you so much for coming out to our Retar Tech event, April 8th through 10th in Las Vegas. This will be great. Great to see you in person and have you on our panel talking more about this. So people listening want to hear more about it, come out to Las Vegas, join us in person. We'll do a couple of shows out there live as well. We'll have to get people involved. So you mentioned process with Aspida. Now, where does technology fit in this process? Now, I'm not going to go deep into our product because I also want to make it easy for our compliance department, not to have to review this stuff, but we're doing something different. You kind of said that. Now, how do you get agents to do something different, make it real easy? I would say we've got a three-prong strategy here on the tech side. So we've got an interesting partnership with Life Yield. He's been sort of managing this where You've got an advisor who's more of a financial planner. We've got a tool where our product kind of plugs right in. You know, Sheryl Moore saw it. She really liked it. The other end, we've got these retirement checks. Like I can email you a check to Bobby Samuelson, show you viscerally, here are two checks you'll get. Higher amount on this date, lower amount on this date. And we've got something in the middle, which is a generative AI platform. Ties and I are having just a fun time working it through our risk management department, but... which will help you look, you're going to do a lot of emails and content. How do you position this and super easily sell a product? Where do you see tech fitting here? You know, for again, our looking, I'm going to look at our customers as agents for this conversation. Bobby (32:25.949) Yeah, yeah, yeah. I mean, what you just described are ways to help them tell the story more efficiently and more effectively. And I think that's a big piece of it. I think for a lot of companies though, it's just literally not screwing up the application process. Like, don't ever complicate it. It's having good EAP, it's having good reporting, it's having a way for them to go check in on a case status, it's having a way for them to see what's going on with the 1035 exchange. It's a lot of blocking and tackling, and that's where I think a lot of companies kind of. Like you got to get that stuff right first before you can do all the things you guys are talking about. Um, but that being said, yeah, I do. I am a big believer that tech is a part of the enablement process here. On the flip side of that, a lot of these agents are 55, 60 years old. Their clients are 55, 60, 65 years old. Like tech, you know, you gotta, you gotta kind of do tech on their terms. And I think that's a little bit of the dance here is like, how do you create tech that is attracted to them and that they can get their arms around without over, overburdening them to some degree. Um, With some of this stuff, what gets me excited too, is thinking about new markets for our products. And I see this on the annuity side and the life side too, like how does tech get you to new markets? And I think that's the part of the industry is just now starting to kind of figure, figure out. Um, and it is not traditional advisors. It's, it's younger advisors. And look, younger advisors do business differently than older advisors. When I talk to younger advisors, most of them have, you know, virtual practices that unimaginable to advisors that are 60 plus years old. to think about that back when they were in their thirties. And so there's just a very different feel for younger advisors. And I don't think most of those advisors are working with on the annuity side, annuity customers yet, right? Like if you're 35 years of working with people your own age, there's some exceptions to that. That's where we see, so on the life side, I see a lot more of this sort of tech sort of integration and enablement going on because it's younger customer, younger advisor that's coming for annuities. It's just going to be a few years out. And I think. The investments you guys are making and other companies are making is laying the groundwork for that going forward. I mean, if we pin our hopes on independence, insurance only agents, selling annuities forever, that is a kind of in the old school way, that is a shrinking market. It'll always be there, but it's a shrinking market. These are great products. These do fantastic things for families and for people. We need to get the story out. We can't be wedded to distribution that works a certain way. We've got to broaden that. I think. Bobby (34:45.285) You can't do that without thinking about tech enablement. Um, and so that does get me excited as a product guy. It's not really in my wheelhouse as much, but it does spur some interesting questions about, okay, if we know innovation kind of hits the wall, sometimes with traditional advisors. If you switch to more tech enabled, can you do things in product that used to be kind of unimaginable, but we'll work in these new environments. And I've got a couple of clients where that's exactly the market strategy is use tech with different products that would not fly in the normal space. Ramsey Smith (34:53.812) Hmm. Bobby (35:12.601) But will fly when you kind of go after new distribution, new customers, new advisors, new technology, and you can tell that story effectively. And we're seeing that, yeah, that works. Like they don't come in with preconceived notions. And when they come in without the preconceived notions, they're willing to hear new ideas and tell those new stories. And it's, it's very cool to see that kind of stick with some of these folks in a way that would not happen with traditional advisors. Paul Tyler (35:37.904) Bobby, this was tremendous. Hey, listen, we're at time. Thanks so much for coming. Ramsey, thank you. Tisa, Tisa. And I think we lost Bruno, unfortunately. I think the internet just did not cooperate with us. Blame it on the snow and the cold here. So we'll get him back next time. But hey, thanks so much. Hey, listen, and if you like this show, share it with your friends and be sure to tune in again next week for another... Ramsey Smith (35:46.176) Pleasure as always. Tisa Rabun-Marshall (35:49.45) Thanks, Bobby Yeah. Tisa Rabun-Marshall (35:55.71) Mm-hmm. Paul Tyler (36:04.849) episode of That Annuity Show. Thanks so much! Bobby (36:08.23) guys.  

Jim and Chris discuss listeners questions relating to Social Security, Roth conversions, taxes, CRTs, beneficiaries, and MYGAs. (2:45) A Texan listener looks for clarification on a Social Security spousal benefit for someone not living in the US, marrying someone who is not a US resident. (10:15) George from Massachusetts asks about converting after-tax dollars and […] The post Social Security, Roth Conversions, Taxes, CRTs, Beneficiaries, and MYGAs: Q&A #2403 appeared first on The Retirement and IRA Show.

In this episode, The Annuity Man discussed:  Lifetime income and principal protection  Return of your money  Peeling of the interest to solve income needs    Key Takeaways:  Annuities aren't only for lifetime income, some products just protect the principal like a MYGA or a Fixed Annuity.  With lifetime income, annuity companies are on the hook to pay a return OF your principal plus interest as long as you are breathing.  Will peeling off the interest, never touching the principal, and getting a return ON your money solve your income needs? MYGAs give you the option to lock in interest rates for one year up to ten years.    "If you choose the return ON then all we're going to have to do at the end of the maturity of that MYGA is roll it to another MYGA and hope that rates are at a good level. If rates go down, we can always transfer that [MYGA] to an immediate annuity for lifetime income. So you can play both sides a little bit." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!   

The market landscape for annuities and insurance continues to evolve, driven by the current interest rate environment and the need for principal protection. As advisors find new solutions and strategies to provide value to their clients and secure better retirements, DPL's breakaway accelerator program and life insurance desk are game-changers for advisors who want to deliver a seamless transition for annuities and insurance assets.In this episode, Ross is joined by Blake Reitnauer, RIA Consultant at DPL. In his role, Blake is committed to working with RIAs to assist them in implementing better solutions for their clients to meet their objectives. He works with consultants to educate RIAs about commission-free insurance solutions that create better client outcomes and AUM growth for RIAs.Blake joins Ross to discuss the current opportunities and challenges in the annuities market. They highlight new solutions and strategies available through the DPL platform, including the breakaway accelerator program for advisors transitioning to fee-only models and the life insurance desk for comprehensive insurance solutions. Ross and Blake emphasize the importance of technology in streamlining processes and providing real-time updates on contracts and portfolios.Key Takeaways[02:05] - Common conversations Blake had with potential clients.[02:42] - How interest rates and volatility impact annuities.[04:40] - Utilizing fixed index annuities for principal protection.[06:18] - The benefits of multi-year guaranteed annuities (MYGAs).[07:55] - Why DPL's breakaway accelerator program is a game-changer.[09:29] - How to get involved in DPL's breakaway accelerator program.[11:32] - How DPL's life insurance desk helps serve advisors.[15:17] - DPL as a solution for firms acquiring new advisors.[18:16] - How DPL is changing the insurance game from a technology standpoint.[21:26] - Useful tools DPL offers to advisors.

In this episode, The Annuity Man discussed:  Why would you want to stop taking in income?  Three types of irrevocable income lifetime income teams  Light-switch Annuity Products   Key Takeaways:  There's a myriad of reasons why you would want to stop taking income, and there are annuity reasons that allow for this. One reason could be if tax laws change in the future and you want to shut down the income stream to not get taxed, or when you want the income to accumulate for your death benefit. The three types of irrevocable income lifetime income streams are Single Premium Immediate Annuity, Deferred Income Annuity, and Qualified Longevity Annuity Contracts.  A Multi-Year Guaranteed Annuity is the annuity industry version of a CD. It allows you to take out interest while keeping the capital intact, and it's a light-switch annuity product. Another light-switch product is an income rider attached to an indexed annuity.    "There are annuities that aren't light switch annuities: SPIAs, DIAs, and QLACs - but there are annuities that are light switch for income, MYGAS, and then income riders which are lifetime income products." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man and Michael Finke discuss:  Annuities are more attractive today  Protecting your future lifestyle  Cutting little slices on the birthday cake There's no perfect product to solve for inflation   Key Takeaways:  At the time of this episode's taping, near-retirees can lock in 5.2% on five-year MYGAs for the next five years; however, it may go up or down.  When buying an annuity, you're essentially buying yourself a minimum standard of living forever, no matter how long you live. You have to choose if you want to shoulder the risk or transfer it. Your future lifestyle is at stake.  It's not going to be easy, but you must first recognize that you're not going to live forever. You have to decide how you could spread out your savings to accommodate your lifestyle until you die or if you want to spend more money to have less worry.  If you can be more flexible, then inflation's impact won't be that big of a deal. Also, there's no perfect product to solve for inflation. There are options that could help you have some stability through it, like social security and I Bonds.    "If we model out 1000 different potential retirements, the ones who will have an annuity will, on average, be happier, but the ones with an investment portfolio might have a slightly higher probability of success. But there is no information about what failure means." —  Michael Finke.    Connect With Micheal Finke: Website: http://www.michaelfinke.com/  LinkedIn:  https://www.linkedin.com/in/michael-finke-8134808/  Facebook: https://www.facebook.com/mfinke  Twitter: https://twitter.com/FinkeonFinance    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

In this episode, The Annuity Man discussed:  What are MYGAs and SPIAs?  Annuities are contractual commodities  MYGA to SPIA    Key Takeaways:  A MYGA, Multi-Year Guaranteed Annuity, is the annuity industry's version of a CD. The good news about MYGAs is that the interest rate is locked in and non-callable. This means that when interest rates go down, you're going to be locked in.  Annuities are contractual commodities, meaning that when you're buying them for the contractual guarantees, you can shop all carriers for the highest contractually guaranteed payout for your specific situation based on how you structure them.  Through MYGAs, you can protect the principal, peel off interest, and retain liquidity. After the duration of the MYGA, we can then shop all SPIA carriers and transfer the MYGA to the SPIA.    "You can have your cake and eat it too, you can protect the principle, you can peel off interest if needed during that duration of the MYGA, and at the end of that term, you have full control of the asset." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, QLACs, MYGAs, and taxes. (13:30) A Mississippi listener asks if his wife will have to pay back her Social Security benefit after going back to work. (26:00) A Virginian listener asks about the latest possible dates he can use when filing […] The post Social Security, IRMAA, QLACs, MYGAs, and Taxes: Q&A #2348 appeared first on The Retirement and IRA Show.

Laura Stover, RFC®, takes on the topic of interest rates today, and how they relate to your financial future. It is important to consider the historical context of interest rates. Over the past few decades, interest rates have been kept artificially low by central banks around the world. This was done in an effort to stimulate economic growth and prevent deflation. However, it was only a matter of time before rates began to rise. ​ If we look back to the 1970s, interest rates were much higher than they are today, even 19% at one point. This was a period of high inflation and economic instability, and the Fed's actions were aimed at cooling down the economy and reducing inflationary pressure. ​ In comparison, the current interest rates are still relatively low. While they may feel high for those who have only experienced the last 20 years of low rates, they are nowhere near the levels seen in the past.  ​ When the Federal Reserve raises interest rates, it aims to increase the cost of credit throughout the economy. This makes loans more expensive for businesses and consumers, leading to a reduction in borrowing and spending. The Fed funds rate, which is the rate at which commercial banks charge each other for short-term loans, has a direct impact on the cost of borrowing for individuals and businesses. ​ Higher interest rates can have a negative impact on the stock market, as businesses may amend or pause plans for growth due to the increased cost of borrowing. However, it is important to note that the relationship between interest rates and the stock market is not always straightforward. In some cases, rising rates can actually be a sign of a strong economy, which can be positive for stocks. ​​In light of the current interest rate environment, it is crucial to have a well-diversified portfolio that can weather different market conditions. This means having a mix of assets that can provide both growth and stability. One approach to achieving this is through the use of a bucket strategy. ​The bucket strategy involves dividing your savings into different buckets, each with a specific purpose and time horizon. The first bucket is for immediate cash needs and should be held in liquid accounts such as high-yield savings or money market accounts. The second bucket is for intermediate-term expenses and can be invested in low-risk assets such as bonds or CDs. The third bucket is for long-term growth and can be invested more aggressively in stocks or other higher-yield investments. ​By diversifying your portfolio in this way, you can take advantage of higher fixed rates for your liquid bucket while still having the potential for growth in your long-term bucket. This approach allows you to balance risk and reward and ensure that you have access to funds when you need them while also allowing your savings to grow over time. ​​In a rising interest rate environment, we also discuss alternatives to traditional bank products. One option is a Treasury Floating Rate Fund (T-Flo), which is a low-cost, fully liquid investment linked to U.S. government debt. These funds can provide a higher yield than traditional bank accounts while still offering the safety and security of U.S. Treasury bonds. ​Another option to consider is a Multi-Year Guaranteed Annuity (MYGA), which is a type of fixed annuity that offers a guaranteed interest rate for a set period of time. MYGAs can provide a stable source of retirement income and can be a good option for those looking for a higher interest rate than what is currently available in bank CDs. ​Structured notes are also worth exploring as a fixed alternative. These notes are linked to the performance of an underlying asset, such as a stock or index, and can provide a higher yield than traditional fixed-income investments.​ While it is impossible to predict the future direction of interest rates with certainty, there are a few key factors to consider. The Federal Reserve has indicated that it plans to continue raising rates in the coming months, although the pace of rate hikes may slow down. Additionally, inflation is currently at historically high levels but is expected to decline in the months ahead. ​It is important to stay informed and regularly review your portfolio allocation to ensure that it is aligned with your risk profile and financial goals. Working with a qualified financial advisor can help you navigate the changing interest rate environment and make informed decisions about your retirement savings. Rate, Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188 How to Connect: redefiningwealth.info lswealthmanagement.com Schedule a Review: https://redefiningwealth.info/schedule/ Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/

In this episode, The Annuity Man discussed:  Marrying the lifetime income Dating the rate  MYGAs are not callable   Key Takeaways:  Buying an annuity for lifetime income is like marrying a company. When marrying an annuity company for lifetime income, the company has to be A+ or better, except for a few exceptions.  A MYGA is the annuity industry's version of a CD. With MYGAs, you're locking in a guaranteed interest rate for a specific period of time that you choose. You control the money; it can all be sent back to you or be moved to another one.  Multi-year guaranteed annuities are not callable. This means the life insurance company can't call that money back in if interest rates go down. Check today what the rates are, and you'll see a lot of good yield numbers.    "You're dating the rate; you're marrying that lifetime income.”   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!   

In this episode, The Annuity Man discussed:  Making money from the sidelines The trifecta of principal protection  Nobody knows where interest rates are going to go    Key Takeaways:  In the past decade, you wouldn't make much money if you went to the sidelines. CDs, money markets, treasuries, and MYGAs weren't paying that much. However, until a few months ago, when interest rates moved significantly, you could now go to the sidelines and make money contractually.  The principal protection trifecta are CDs, treasuries, and multi-year guaranteed annuities. MYGAs are fixed-rate, not indexed nor variable. This means they give a guaranteed interest rate for a specific period of time.  Nobody knows where interest rates are going to go. Stop trying to thread the needle, stop trying to look for an arbitrage moment, and stop trying to wait for the bell to ring - it doesn't ring at the top or the bottom.    "If you want to go the sidelines, go! There's no reason to hesitate to go because you can get great contractual guarantees. And if you want to go back into the markets, go back in when your neighbor walks out the door and vomits after seeing the market losses." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

MYGA rates have done nothing but climb. In this episode, we'll re-examine when to use MYGAs and when to use FIAs in today's current market.

In this episode, The Annuity Man discussed:  Traditional laddering with MYGAs What is “reversing”?  Traditional laddering and reversing      Key Takeaways:  You do a traditional 3-year, 4-year. 5-year ladder if you are hoping that rates will go higher. It's a strategy you use when you want to have money as the rates are rising so that you can attach yourself and lock yourself in with those higher rates.  Reversing is the opposite of laddering; you lock in the MYGA for 10, 9, 7, or 10, 7, or 5 years because the rates are falling. This is also a great strategy to use with MYGAs since MYGAs are not callable, the rates are locked in.  If you are undecided whether you should ladder or reverse, you can put half your money in one and half in the other to get a more balanced outcome. What's important is that you should have some of your money be not callable.    "A lot of times when Powell raises interest rates, the annuity industry yawns. You can't time it; there's no sweet spot. There's no arbitrage moment." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man discussed:  What a MYGA isn't and what it is  What is a call feature?  Locking in interest in MYGAs   Key Takeaways:  A MYGA is the annuity industry's version of a CD. It's a Multi-Year Guaranteed Annuity. It's not an income annuity, and it's not annualization. It's when you give the money to the insurance company, and they contractually guarantee an annual yield for the duration you choose.  In simple words, a call feature is if interest rates go down after you purchase a high-yielding bond or CD; some provisions allow the issuing entity to call that money back when the banks cannot give you the interest you wanted to get.  If the duration you want to lock in is less than three years, then you probably should look at CDs and treasuries. If the duration you want to lock in is three years and more, MYGAs will offer a higher contractual yield.   "MYGAS are not callable. They are guaranteed for the term that you lock in. So if you lock in a 10-year term and interest rates go drastically down, the annuity company can't call that back in. They can't pull the rug out from under you contractually. They have to honor that contractual yield that you've locked in for that long term." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

Jim and Chris sit down to discuss listeners questions relating to Social Security, HSAs, MYGAs, and Roth IRAs. (5:15) George from Kansas asks for thoughts on his Social Security claiming strategy in relation to making health savings account (HSA) contributions. (20:30) A Colorado listener asks if he should be considering utilizing lower rated insurance carriers […] The post Social Security, HSAs, MYGAs, and Roth IRAs: Q&A #2328 appeared first on The Retirement and IRA Show.

Jim and Chris sit down to discuss listeners questions relating to Social Security, insurance, IRMAA, and MYGAs. (5:30) A listener from Florida looks for clarification on the rules regarding Social Security and having a disabled child. (28:30) The same listener from above asks for advice on cashing in an insurance policy or not. (1:07:30) A […] The post Social Security, Insurance, IRMAA, and MYGAs: Q&A #2327 appeared first on The Retirement and IRA Show.

In this episode, Stan The Annuity Man discussed:  Lifetime income with SPIAs DIAs are SPIAs that you defer What counts as qualified money in QLACs?  What an Income Rider is and what it isn't  Index Annuities are the annuity industry's version of a CD Variable Annuities, charitable gift annuities, and buffer annuities   Key Takeaways:  A Single Premium Immediate Annuity (SPIA) can be structured however you want that pension payment to function while you're alive and whatever you want the money to do when you're dead. If it's an Immediate Annuity, there are no moving parts, annual fees, or market attachments. It's a straight transfer of risk. A Deferred Income Annuity (DIA) is an Immediate Annuity that you defer. A Single Premium Immediate Annuity past 13 months turns into a Deferred Income Annuity. A Qualified Longevity Annuity Contract (QLAC) is a DIA that you can use with qualified money. Qualified money means IRA, not Roth IRA, but traditional IRA. Some 401k's are also now offering QLACs.  An Income Rider is not an annuity, it's an attachment to a Variable or Index Annuity that provides guaranteed income. An Index Annuity is the most cost-effective and efficient delivery system for an Income Rider. An Income Rider is non-transferable, cannot be cashed in, and can't be peeled off of, it also comes with a fee.  MYGAs are the annuity industry's version of a CD. If your time horizon is three years or more, historically, Multi-Year Guarantee Annuities give you a higher contractual annual yield than a CD.  Fixed Index Annuities were created In 1995, to compete with CD returns, giving you the potential to earn a little bit more than CD returns. If you do get a gain, it's locked in permanently and there is principal protection. But the bad news with a lot of Index Annuities at the time of this taping is that annuity companies can change the rules at their discretion every single year when the index option matures.  Variable Annuities are a security that is essentially a bunch of mutual funds wrapped with a life insurance wrapper, which means it would grow tax-deferred, and you could have tax-deferred mutual fund type growth.  A charitable gift annuity is a lifetime income stream typically either starting immediately or down the road. When you die, the charity keeps the money that's left in the account, and they get to hold it while they're paying you back the money based on your life expectancy.    "There's a lot of annuity products out there. Not all of them are great. Not all of them are perfect, but all of them are contractual. So you have to look at the contractual guarantees of the policy. I always tell people don't buy the dream, because you're gonna own the contractual reality." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!   

In this episode, The Annuity Man discussed:  How do life insurance companies price annuities?  Nobody knows where interest rates are going  Annuities are commodity products    Key Takeaways:  MYGAs, the annuity industry's version of a CD, has become very popular because the guarantees contractually are very attractive if your time horizon is more than three years. You'd be better off buying CDs and treasuries for less than three years.   Nobody knows where the interest rates are going, but right now, the interest rates are very fair and the highest that we've seen for a long time. The annuity industry does watch the interest rates but does not price their annuities primarily on it.  Annuities are commodity products, meaning that you have to shop all carriers for the highest contractual guarantee. Also, the guarantees change based on the capacity and the money coming into the carrier.    "Knowing that the bell doesn't ring at the top or the bottom, knowing that you can't time it. Are those guarantees… fair? Do they help you reach your goals? That's a yes or no answer." —  Stan The Annuity Man.   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!

Episode 6 opens with the conclusion of my interview with delightful sisters JJ Elliott Hill and sister Natalie Handy who share the complex realities of caring for an aging loved one. Their podcast series "Confessions of a Reluctant Caregiver" is advertised as a judgement free zone where caregivers can be their most authentic selves, confessing their truths without shame or fear of rejection. David Lau, founder, and CEO of DPL Financial Partners, returns to discuss the benefits of MYGAs which is a Multi-Year Guaranteed Annuity product gaining popularity especially following recent bank collapses. More information about MYGAs can be found at dplfp.com. LaDonna Koebel, Executive Director of the Office of Senior Protection and Mediation in the Kentucky Office of the Attorney General, discusses types of scams that pop up following natural disasters. She also shares prevention tips like how seniors can protect themselves from more popular scams focused on grandchildren.

As retirement approaches, many individuals begin to consider their income streams for the future. While traditional retirement strategies often rely on pensions, Social Security, and personal savings, there are alternative approaches to ensure a more stable income stream throughout their retirement years. In this episode, Jonathan talks with Leslie Grant, Lead RIA Consultant at DPL Financial Partners. Prior to working at DPL, Leslie spent five years working for a prominent insurance carrier and four years with a boutique investment manager. Her comprehensive understanding of product construction, the insurance industry at-large, and her belief that all clients could benefit from the opportunity to retire with security shows in her work. Committed to helping Americans navigate and manage change in retirement, Leslie talks with Jonathan about alternative retirement income strategies. They dig deep into the unique ways to fund and diversify retirement income and what advisors can do specifically around pension buyouts. Key Takeaways[01:38] - Leslie's conversation with advisors about funding retirement income.[05:39] - How retirees can maximize their retirement income.[08:31] - Other rollover opportunities and unique ways advisors manage assets.[14:26] - The impact of rising interest rates on FIAs and RILAs.[18:08] - What the rising interest rate environment means for MYGAs.

In this episode, The Annuity Man discussed:  What does it mean to live off the interest?  Living off guaranteed interest  When interest rates go down  If you can't live off of the interest   Key Takeaways:  At the time of this taping, some money markets are 4, some CDs at five, and some MYGAs at five and a half. A lot of you out there have enough funds that whatever interests you can take off of those products is sufficient, and you never have to touch the principal.  There's no guaranteed return with index annuities, variable annuities, or buffer annuities. That doesn't mean they're bad products, but if you can live off of a guaranteed interest, why not do that?  When you lock in at a certain interest, it doesn't matter if the interest rates go down in the market - you'll benefit from what is contractually guaranteed.  Suppose we can prove mathematically that we can't hit your goal from living off of the interest. In that case, that's when we'll look for contractual guarantee products for lifetime income because they'll provide a higher payback of your money.    "You're going to ride that peeling off the interest as long as you can. You're gonna ride that train of never touching the principal and never paying a fee as long as you can, and if rates go down, then we will pivot " —  Stan The Annuity Man.        Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man discussed:  What are MYGAs? How MYGAs work  Locked in MYGAs    Key Takeaways:  MYGAs or fixed-rate annuities are the annuity industry's version of a CD. The advantage is that you have full control over it, and you can transfer it back to where it came from or roll it to another one.  There is no trigger function on MYGAs. The way it works is that you give the life insurance company that issues annuities a lump sum of money and they guarantee an interest rate for a specific period of time.  Some MYGAs allow you to lock in the money for a specific period of time, which is the better choice if you just want the interest to compound and you don't plan on touching it.      "A push comes to shove MYGA… Push comes to shove, it allows you to take money out if you need it but you don't have to. But if push comes to shove, you can." —  Stan The Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Interest rates have been a hot topic in the financial world for some time now. Financial advisors have been facing mounting stress and pressure to help their clients navigate this challenging environment. As the current interest rates continue to present challenges for financial advisors and their clients, what strategies and solutions can help advisors grow their firms and AUM and deliver greater benefits to the client's financial plan?In this episode, DPL's Regional VP Jonathan Barth talks with Nate Johnson, Consultant at DPL Financial Partners. Nate is passionate about helping member firms organically grow their AUM while creating the best possible outcomes for their clients through DPL's Commission-Free insurance platform.Jonathan and Nate talk about evaluating new solutions and strategies to help advisors grow their firm and AUM. They also speak about the current interest rate environment, its impact on annuities, and how advisors deal with some of the stress and pressure this environment brings.Key Takeaways[01:16] - Advisors' thoughts on the impact of the current rate on client portfolios.[03:20] - The misconceptions about the rising interest rate.[05:34] - How advisors deal with the current rate environment.[07:55] - Annuities with higher upside potential.[09:33] - How annuity fits into a 60/40 portfolio.[13:17] - Why DPL's Fixed Income Comparison tool can be very useful.[17:52] - Nate's key takeaways.

In this episode, The Annuity Man discussed:  The four words you must focus on  The difference between a CD and a MYGA Seize the day with these interest rates What should you do when the rates go down?    Key Takeaways:  In the current interest-rate environment that we're in, between CDs, treasuries, and multi-year guaranteed annuities, allow many of you out there to live off of contractually guaranteed interests.  MYGAs are the annuity industry's version of a CD. The difference between a Maiga and a CD is that in a non-IRA account, the Maiga interest grows and compounds tax-deferred. Also, CDs are issued by banks and brokerage firms, while MYGAs are issued by insurance companies that issue annuities.  Seize the day with these interest rates. No one knows where they're headed, but right now, at the time of this episode's taping, they're in a really good place.  Don't try to predict the future. Live for today and take the contractually guaranteed rates that are available. If they go down in the future, then you may think about how you could pivot by buying an immediate annuity to make up for that loss.    "if you have an asset base where you can combine annuities, MYGAS, CDs, and treasuries and live off the interest, why wouldn't you? Why wouldn't you do that?" —  Stan The Annuity Man. Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Mention the word “annuity” and most investors recoil. There seem to be so many hidden secrets and costs.  And high pressure sales tactics along with "free dinners." In today's podcast we unravel those mysteries – with the one man who has consistently worked to educate the public to the ins and outs of annuities – as well as some of the better uses of these insurance company contracts.  Stan Haithcock's website – www.StantheAnnuityMan.com -- is a great resource for free basic information and good advice on annuities.  And Stan is one of the most entertaining financial speakers you'll ever meet. So, sit back and enjoy our podcast.  We devote special attention to Multi-Year Guaranteed Annuities (MYGAs), now yielding over 5.5%.  They're the insurance industry's version of a bank CD, without the FDIC backing.  And they are a great way to improve yields either inside or outside your IRA. To read more about MYGAs, here's a link to Terry's column on the subject:  https://www.terrysavage.com/an-annuity-that-works-for-you-myga And if you'd like to listen to more of Stan's terrific approach to financial markets, both Terry and Pam have recently joined him on HIS podcast.  You'll find the links to these conversations here: Terry Savage: The Savage Financial Truth in 2023 https://www.stantheannuityman.com/fwa-terry-savage-january-2023   Pam Krueger: Your Wealthramp to Fiduciary Advice https://www.stantheannuityman.com/fwa-pam-krueger-february-2023

In this episode, The Annuity Man discussed:  Locking in for three years and over  The top three safest money  When to go for CDs and treasuries    Key Takeaways:  Ask yourself how long you want to lock the money in for. MYGAs provide the highest contractual guarantee if it's three years and over compared to CDs and treasuries.  The safest money out of all three would be treasuries, the second safest money is CDs, and the third safest would be MYGAs. Buy treasuries only from treasurydirect.gov.  If you're going to lock in money for three years and in, the better option would be to go for CDs and treasuries because if it's less than three years, MYGAs historically will not provide the highest contractual guarantee.    "Three years and in CDs and treasuries three years and out multi-year guarantee annuities." —  Stan The Annuity Man.        Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

As people live longer and healthier lives, the need for retirement income that lasts throughout one's lifetime has never been greater, but the traditional sources are no longer as secure as they once were. This has led many people to seek alternative sources, such as annuities. Annuities have become an increasingly popular means of generating retirement income as they provide many advantages over other solutions.DPL Consultant John Watson joins Tim Rembowski for another segment of Advisor Revelations. John brings over 25 years of industry experience and annuity wholesaling to DPL. For the last 18 years, John has used a holistic approach to planning with managed assets, annuities, income, and protection strategies at Fidelity Investments. Demonstrating a deep understanding of DPL's insurance and annuity products, John talks with Tim about interest rate movements, how that affects fixed annuities, and the solutions and strategies needed to address current challenges.Key Takeaways[01:45] - How advisors adapt to today's market environment.[04:29] - How multi-year guaranteed annuities (MYGAs) are creating positive results this year.[05:42] - The positive effects of annuities.[07:03] - John's outlook on interest rates.[09:03] - The yield curve for MYGA.[11:44] - What makes MYGAs so beneficial in today's market.

In this episode, The Annuity Man and Bob Carlson discuss:  Changes in 401k and IRA provisions  Why you should spend time on income taxes Generating guaranteed lifetime income  Be prepared to adapt your plan    Key Takeaways:  The Secure Act 2.0 gives provisions that are designed to make employer retirement plans more available and to get more employees participating in the plans. The required minimum distribution's beginning age has also been bumped to 75, and catch-up contributions are being increased for IRAs and 401ks.  People don't spend enough time on their income taxes. People shouldn't forget that not everyone pays lower taxes when they retire, some will be in the same bracket, and Congress avoids tax increases but has added provisions that, in effect, work like stealth taxes.  Accumulate as big of a balance as possible, then find a way to turn it into cash flow for your retirement phase. Generate guaranteed lifetime income through social security or employer pension, then start looking at putting money into SPIAs or MYGAs to generate that income gap.  Be prepared for change. Know that your retirement plan is not set in stone; it's something that you have to review regularly. See where your assumptions are wrong, where you've changed, where the tax law and other things outside your purview have changed, and adapt your plan to that.    "Anticipate change, be prepared for it. Know that your retirement plan is not set in stone. It's not a roadmap; it's something you have to review regularly. " —  Bob Carlson.   Grab a copy of Bob Carlson's, The Essential Guide To Retiring In the 2020s by clicking on this link: https://www.amazon.com/Retirement-Watch-Essential-Guide-Retiring/dp/1684513332    Connect with Bob Carlson:  Website: https://www.retirementwatch.com/  Facebook: https://www.facebook.com/RWcommunity  Twitter: https://twitter.com/RetirementWatch  Most Recent Book: https://www.amazon.com/Wheres-My-Money-Secrets-Security-ebook/dp/B0853F3R7R     Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man and Jay Zawatsky discuss:  The definition of good money  Why both fiat and bitcoin is bad money Retiring with gold and silver  Jay's personal investment strategy    Key Takeaways:  If you have money that can store the value of your labor and preserve its purchasing power over long spans of time, then it is good money. Throughout history, only one checked the box for both of those, and that's gold.  Any currency that can be created ex nihilo (out of nothingness) is bad money, and unfortunately, we're plagued with a lot of it. Bitcoin and other cryptocurrencies count as bad money, but it might surprise you that the U.S. dollar and other fiat currencies also count as bad.  Purchasing gold and silver is a good way to enter your retirement with good money. The ideal strategy is to own physical bullion in an offshore account held by a private entity, however, one can always start by owning silver coins.  Having at least 10% or 15% percent of your assets invested in gold and silver is a good practice if you want to protect yourself in the case of calamity or inflation. However, even if nothing catastrophic happens, gold still retains its value.  Jay's barbell approach has two sides: one is gold and silver, while the other is cash and cash equivalents. Meaning treasury bills and MYGAs.    "Good Money is money that acts as both a battery and a time machine." — Jay Zawatsky   Resources Recommended by Jay Zawatsky: Whatever Happened to Penny Candy? by Richard Maybury https://www.amazon.com/s?k=whatever+happened+to+penny+candy  The Law, by Frederic Bastiat http://bastiat.org/en/the_law.html https://cdn.mises.org/thelaw.pdf (FREE) I, Pencil, by Leonard E. https://fee.org/resources/i-pencil/ (FREE) video version: https://www.youtube.com/watch?v=IYO3tOqDISE    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Jim and Chris sit down to discuss listeners questions relating to Social Security, IRA contributions, spousal benefits, and multi-year guaranteed annuities (MYGAs). (Into) Chris follows up on a question from last week to clarify application of the Social Security earnings test for survivor benefits when the survivor full retirement age is different than the retirement […] The post Social Security, IRA Contributions, Spousal Benefits, and MYGAs: Q&A #2253 appeared first on The Retirement and IRA Show.

In September we did a Podcast titled "Why choose FIAs when MYGAs are so high?". Since that episode MYGA rates have done nothing but climb. In this episode, we'll re-examine when to use MYGAs and when to use FIAs in today's current market.

In this episode, The Annuity Man discussed:  Think again, would more money change your life?  Peeling off the interest Are you really affected by inflation?  Live your life now    Key Takeaways:  Why do you still keep money in the markets when you've won the game? Think about it, would more money really change your life? If the answer is no, then why are you putting your money at risk?  Treasuries, CDs, Fixed-Rate Annuities, and MYGAs are at a level where you can just peel off the interest, never touch the principal and never pay any fees.  60% of adults have less than $400 to their name. Those people are the ones really affected by inflation, not millionaires like you.  If you need more money, go get it. But for those who don't need it, why are you still trying to chase more? You don't need to put your resources into volatility, what you need to do is to live your life now.    "Why are you putting all or a portion of your hopes and dreams in potential returns? Keyword: ‘potential.' The only potential in your life should be the potential for you to live your life on your own terms because you've earned it. The potential is doing things for you." —  Stan The Annuity Man      Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Deciding whether to delay filing for Social Security is a hefty decision. Waiting to collect Social Security until age 70 will increase your monthly benefit by 32%, but that doesn't mean much if you don't live long enough to reap the rewards of being patient.  In today's retirement headlines segment, I'll share an article written by Jeffrey Levine from Kitces.com that discusses a workaround to the seemingly all-or-nothing decision of whether to collect Social Security benefits at full retirement age or to delay filing until age 70. If this decision has been weighing heavily on your mind, you won't want to miss this episode.  Outline of This Episode [1:22] If you are a do it yourself investor you are your own financial advisor [5:30] Retroactive payments are granted as a lump sum payment [7:03] Use the nudge strategy [9:00] Drawbacks to the 6-month nudge strategy [12:48] Using QLACs and MYGAs to enhance a bucket strategy DIY investors need plenty of tools in their retirement planning toolbox Jeffrey Levine, the author of Getting Comfortable Delaying Social Security with Six Month Reversible Delays, has a way of explaining complex financial concepts by breaking them into understandable bites. You can follow him on Twitter @CPAPlanner if you are looking for another go-to financial resource.  Although today's retirement headline was written for financial advisors, it contains valuable information for the do-it-yourself investor. As a DIY investor, you need to recognize that you are your own financial advisor. Kitces.com offers a wealth of information and is one of my favorite retirement planning resources.  Nudging your Social Security claiming decision can lessen the worry of making the wrong choice The biggest question that you probably have about Social Security is how big will your benefit be? The answer hinges on two factors: your earnings history and when you choose to take your benefit.  By the time you get ready to retire, there isn't anything you can do about your past earnings history, but you can control when you decide to collect your benefit. The longer you wait to collect, the larger your monthly check will be. Each year that you choose to wait your payment will increase by 8%.  With lifespans continually increasing it can make a lot of sense to delay filing for Social Security. However, not everyone will live long enough to reap the rewards of delaying their monthly benefit.  Many people see the decision to delay taking Social Security until age 70 as an all-or-nothing endeavor, but that is not the case. In fact, as Jeffrey Levine explains, this decision can actually be broken up into a series of 8 smaller decisions.  By using the strategy of nudging the decision forward every 6 months, you can break this seemingly all or nothing choice into 8 separate, independent, reversible decisions which will lessen the fear of an all or nothing approach. Challenges to using the every 6-month nudging approach As with every financial strategy, there are drawbacks to using the nudge approach every 6 months. The most obvious is that if you happen to die during your wait, you won't be able to collect the benefits. The author makes an important side note for married couples to consider this drawback. Listen in to hear what it is.  Another downfall is that retroactive applications can reduce your lifelong benefits. Something else to consider is that if you file retroactively, you will receive retroactive benefits in a lump sum which could lead to a spike in your marginal tax rate for the year.  Breaking down the decision of when to claim your retirement benefits into many smaller, less drastic decisions can give peace of mind to the decision-maker especially when they understand that the decision is reversible.  Resources & People Mentioned Getting Comfortable Delaying Social Security with Six Month Reversible Delays Kitces.com Jeff Levine on Twitter @CPAPlanner Connect with our Sponsor Boomer Benefits Boomer Benefits Facebook Page Boomer Benefits YouTube Channel Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

Jim and Chris sit down to discuss listeners questions relating to spousal benefits, investing, Roth conversions, trusts, and MYGAs. (7:45) Georgette from New York looks for clarification on the possible reduction of spousal Social Security benefits. (15:30) A Californian listener wonders if it makes sense to sell some of his bond funds that are currently […] The post Spousal Benefits, Investing, Roth Conversions, Trusts, and MYGAs: Q&A #2247 appeared first on The Retirement and IRA Show.

In this episode, The Annuity Man discussed:  How different your life could be with more money  Retiring from work and the markets Investing safely and smartly  Living off of guarantees    Key Takeaways:  People in the news and most financial advisors will tell you always to keep money in the markets, but you have to ask yourself this: will more money make your life any different?  If you love the ups and downs of the markets and treat it like a passion or a hobby, then it's alright to stay in it, but most people out there should be retiring both from work and the markets. When you invest money in the market, invest an amount that you won't care about, something that won't keep you up at night or upset your plans if you lose.  Remember the trifecta of safe money: MYGAs, CDs, and treasuries, which you can get at treasurydirect.gov. These three provide guaranteed annual interest rates, and you can live off of these guarantees.    "Retire from your job, retire from the markets. Live your life. There are no U-Hauls behind hearses; you can't take it with you." —  Stan The Annuity Man.         Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man and Michael Finke discuss:  Annuities are more attractive today  Protecting your future lifestyle  Cutting little slices on the birthday cake There's no perfect product to solve for inflation   Key Takeaways:  At the time of this episode's taping, near-retirees can lock in 5.2% on five-year MYGAs for the next five years; however, it may go up or down.  When buying an annuity, you're essentially buying yourself a minimum standard of living for ever, no matter how long you live. You have to choose if you want to shoulder the risk or transfer it. Your future lifestyle is at stake.  It's not going to be easy, but you must first recognize that you're not going to live forever. You have to decide how you could spread out your savings to accommodate your lifestyle until you die or if you want to spend more money to have less worry.  If you can be more flexible, then inflation's impact won't be that big of a deal. Also, there's no perfect product to solve for inflation. There are options that could help you have some stability through it, like social security and I Bonds.    "If we model out 1000 different potential retirements, the ones who will have an annuity will, on average, be happier, but the ones with an investment portfolio might have a slightly higher probability of success. But there is no information about what failure means." —  Michael Finke.    Connect With Michael Finke: Website: http://www.michaelfinke.com/  LinkedIn:  https://www.linkedin.com/in/michael-finke-8134808/  Facebook: https://www.facebook.com/mfinke  Twitter: https://twitter.com/FinkeonFinance    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

In this episode, The Annuity Man and GUEST discuss:  CDs and MYGAs I-bond no-brainer The safest product in principal protection  How safe are MYGAs?    Key Takeaways:  Here's how CDs (Certificate of Deposit) work: you give the bank money, they protect the principal, and you don't have to pay any fees. You can take the interest if you want to at the end of the term and do what you want with your money. MYGAs are basically the annuity industry's version of a CD.  Treasury bonds are a no-brainer. Go to treasurydirect.gov to buy them for yourself. The only downside of treasury bonds is that there's a limitation on how much money you can put in it.  Of these three safe principal protection options, treasury bonds are the safest because the government can tax or confiscate money in order to pay it, and they will. The second safest one is CDs since they are government-based as well.  MYGAs are safe products to invest in, and their safety is based on the annuity company's ability to pay. They are commodity products, and the money you'll get from them can be used to buy another MYGA from another company. However, you can't put all your money on annuities; you got to spread it around.    "This trifecta is a contractual guarantee:  CDs, Treasury's, Multi-Year Guarantee Annuities. You're owning these because of what they will do, not what they might do. You're buying the yield. The yield is contractual." —  Stan The Annuity Man.        Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Most agents (who don't focus exclusively on annuities) have opportunities where they could help the client and grow their business if they took advantage of cross-selling annuities. In this episode, we'll cover when and how to cross-sell annuities.

In this episode, The Annuity Man discussed:  Dating your annuity company  Marrying your company for lifetime income What do you want your money to do contractually?  Dating MYGAs to peel of interest    Key Takeaways:  Dating a company means that we're only going to be there for a specific duration. With multi-year guarantee annuities and fixed-rate annuities, you give the annuity company your money for a specific period of time, If you're signing up for a lifetime income product with an annuity company, you'll be there for life, so you have to make sure they can back up the contractual guarantees they claim.  If you're marrying the annuity, get lifetime income products where the annuity company will pay you a guaranteed amount as long as you're breathing.  If you have enough money to peel off the interest and never touch the principal, then you can date the MYGAs and ladder them into a two-three-four year ladder or three-five-seven year ladder.    "We're either marrying or dating the annuity, and it depends on the type. With the lifetime income products, we're marrying them. With short-term, multi-year guarantee annuities, we're dating them." —  Stan The Annuity Man.   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

We've had an increasing number of agents talking about clients wanting MYGAs right now, but why do FIAs still have a place? In this episode, we'll cover the different times when you should be selecting a MYGA vs. a FIA

In this episode, The Annuity Man discussed:  Short term options available in MYGA's  There's no garbage in MYGAS's MYGA's and CD products  Making yield great again    Key Takeaways:  There are good contractual yields available in MYGAs. They're available in short term options of two year, three year, five year, or even seven year locked in periods.  In MYGAs, there's no annual fees, no market attachments,no moving parts, no upfront bonuses, and no participation rates. In other words, there's no garbage.  MYGA's offer a higher contractual guarantee than CD's. Why? It's because life insurance companies that issue annuities have multiple pricing mechanisms to price off of.  Multi-Year Guarantee Annuities or the annuity industry's version of a CD is making yield great again. If you've already won the game, then you have the option to put your money in a MYGA, never touch the principal and peel off the interest for the income that you need.    "Yield is back! Yield can provide the comfort, security, the interest, the income needed - without touching the principle. It's MYGA." —  Stan The Annuity Man      Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!   

In this episode, The Annuity Man discussed:  Should you purchase I Bonds?  Treasuries are as safe as it gets  Five places to put your money  Inflation is personal    Key Takeaways:  Purchasing I Bonds is a no-brainer. Go to treasurydirect.gov to buy direct from the treasury I Bonds.  Treasuries are as safe as it gets because they can tax us and confiscate our money to pay them off, and that would happen if we needed to do that. The downside to I Bonds is that they don't allow you to put as much money in them.  There are only five legitimate places to put your money that protects the principal and that you're not going to lose a dime, and you're going to get an interest rate. Those five are money markets, CDs, fixed-rate annuities - also called MYGAs, treasuries, and Triple A-Triple A insured municipal bonds. Inflation is personal. Don't get too caught up on inflation because most people in retirement will not be affected that much by it. Ask yourself if you're being affected by it, or are you overplanning?    "If it's a no brainer, then it's a no brainer, and I Bonds are the ultimate no brainer. You can do it every year so why not put it on your calendar and do it every year? It just makes sense. " —  Stan The Annuity Man.   Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator! 

Hans and Robby are back again this week with a brand new episode! This week's show is all about revisiting MYGAS, aka multi-year guaranteed annuity. Hans and Robby go over the details and help you decide if this is what you need. Don't forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

In this episode, The Annuity Man discussed:  You can't hate all annuities  Who invented PIGs?  The four PIGs  Adding to your income floor    Key Takeaways:  Just to recap, you already have an annuity, and there's no way you could hate all annuities when there are a lot of kinds out there.  The Romans invented the original portfolio income guarantee. The government provided an annual payment to soldiers' families for their service.  There are four PIGs in the annuity world: single premium immediate annuities, deferred income annuities, qualified longevity contracts, income riders attached to index annuities, variable annuities, or sometimes MYGAs as well.  If you need additional income to add to your income floor, check out the SPIA calculator and run a reverse-engineered quote solving for that contractual amount you need to fill in that gap or inflation.    "The income floor is that amount that's gonna hit your bank account every single month regardless of what happens in the world… it doesn't matter; it's gonna hit that bank account every single month." —  Stan The Annuity Man.      Click on this link to check out Stan the Annuity Man's SPIA Calculator: https://www.stantheannuityman.com/spia-calculator 

In this episode, The Annuity Man discussed The two primary functions of an annuity  Don't time it; ladder it  Annuities are based on life expectancy When life expectancy tables change against you   Key Takeaways:  There are two primary functions for an annuity: principal protection or income for life. Never buy an annuity for market growth.  Don't time it; try laddering instead. If you have $300,000, put $100,000 each in a three-year, four-year, and five-year plan. That way, you'll have money coming due at different intervals, hopefully attaching to rising interest rates.  Lifetime income is primarily based on your life expectancy when you take the payment. Interest rates play a secondary role, and that's why laddering is the best strategy for squeezing yield out of annuities.  Keep your maturity short and ladder it. Lifetime income is all about life expectancy, not interest rates. When you're squeezing annuity yields, remember that because lifetime expectancy dries the pricing train, there's a risk that the life expectancy tables will change against you in the future.    "Squeezing yield out of MYGAs really comes down to not trying to time it, not trying to pick a specific duration, and laddering those maturities." —  Stan The Annuity Man.      Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today:  https://www.stantheannuityman.com/annuity-calculator!   

The basics of annuities and details about Multi-Year Guaranteed Annuities ("MYGAs")Links in this episode:YouTube video - Understanding AnnuitiesYouTube video - What is an Income Annuity?YouTube video - What is a Variable Annuity?YouTube video - What is an Indexed Annuity?YouTube video - What is a Fixed Indexed Annuity with Income Rider?YouTube video - What is a Qualified Longevity Annuity ContractFacebook group - Taxes in RetirementYouTube channel - Retirement Planning DemystifiedNewsletter - Retirement Planning Insights

In this episode, The Annuity Man discussed:  What does Inverted Annuity Yield Curve mean?  An opportunity in current events  Are A++ companies too big to fail?  Annuities are not bonds    Key Takeaways:  An Inverted Annuity Yield Curve is when the two-year treasury rate is higher than the ten-year treasury rate. Typically when that happens, that's a pre-determinant of a possible upcoming recession. The big carriers are popping to the top of the MYGA fees. A month ago, A++ carrier MYGA fees were way down the list, 50 or 75 basis points lower than the highest lead for that duration.  The only scenario in which we will see A++ companies failing is if the world goes into apocalypse-esque or anarchic conditions.  Annuities are not bonds! The only product comparison between bonds and annuities is in Multi-Year Guaranteed Annuities or MYGAs because they both have a guaranteed coupon.    "Where these A++ companies are being competitive is at the three-year and five-year level - oh my goodness, pound the table, take a look, don't hesitate!" —  Stan the Annuity Man.    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today - https://www.stantheannuityman.com/annuity-calculator!   

How are your clients affected when the market is down, strategies are down, but rates are up? In this episode, Caleb and I talk about Index allocation and MYGAs and reference episode 167 "Selecting Index Strategies and Renewal Rates".

In this episode, DPL's Tim Rembowski and Leslie Grant, Lead RIA Consultant at DPL, discuss DPL's solution to rising interest rates, leading advisors to “ah-hah” moments on annuities, having the hard insurance conversation with advisors, the impact MYGAs have had on clients and advisors alike, and the financial challenges many have yet to solve. Learn more at https://www.dplfp.com/series/advisor-revelations-podcast. Anytime there's a change, humans are naturally inclined to reject it. Especially when that change goes against our standard way of thinking. Unless they were in the insurance business, many advisors have advised clients against purchasing products like annuities. More recently, annuities have evolved, and so has their value. Six months ago, interest rates were already on the rise and the road ahead looked far from promising. To address these rising interest rates, the MYGA (multi-year guaranteed annuity) became a simple solution, and the moment for changing minds on annuities had arrived. With interest rates skyrocketing and planning software backing the product, the value of annuities was simply impossible to ignore. One of Leslie's advisors even described recommending annuities as his “fiduciary duty.”Key Takeaways[00:21] - A brief introduction to Leslie. [01:24] - How Leslie and her team have successfully addressed rising interest rates. [03:39] - How Leslie convinced advisors to value annuities. [06:33] - What Leslie says to advisors who have no faith in insurance companies. [07:41] - How advisors reframed annuities to their clients after advising against them. [11:49] - How the shift to embracing annuities has impacted advisors. [13:01] - Why advisors decided to charge a fee. [13:59] - How clients responded to the annuity push. [15:13] - Why the MYGA marketplace is incredibly valuable. [17:03] - Why there's a cost to waiting on annuities. [21:21] - What challenges Leslie's ready to tackle next.

Deciding whether to delay filing for Social Security is a hefty decision. Waiting to collect Social Security until age 70 will increase your monthly benefit by 32%, but that doesn't mean much if you don't live long enough to reap the rewards of being patient.  In today's retirement headlines segment, I'll share an article written by Jeffrey Levine from Kitces.com that discusses a workaround to the seemingly all-or-nothing decision of whether to collect Social Security benefits at full retirement age or to delay filing until age 70. If this decision has been weighing heavily on your mind, you won't want to miss this episode.  Outline of This Episode [1:22] If you are a do it yourself investor you are your own financial advisor [5:30] Retroactive payments are granted as a lump sum payment [7:03] Use the nudge strategy [9:00] Drawbacks to the 6-month nudge strategy [12:48] Using QLACs and MYGAs to enhance a bucket strategy DIY investors need plenty of tools in their retirement planning toolbox Jeffrey Levine, the author of Getting Comfortable Delaying Social Security with Six Month Reversible Delays, has a way of explaining complex financial concepts by breaking them into understandable bites. You can follow him on Twitter @CPAPlanner if you are looking for another go-to financial resource.  Although today's retirement headline was written for financial advisors, it contains valuable information for the do-it-yourself investor. As a DIY investor, you need to recognize that you are your own financial advisor. Kitces.com offers a wealth of information and is one of my favorite retirement planning resources.  Nudging your Social Security claiming decision can lessen the worry of making the wrong choice The biggest question that you probably have about Social Security is how big will your benefit be? The answer hinges on two factors: your earnings history and when you choose to take your benefit.  By the time you get ready to retire, there isn't anything you can do about your past earnings history, but you can control when you decide to collect your benefit. The longer you wait to collect, the larger your monthly check will be. Each year that you choose to wait your payment will increase by 8%.  With lifespans continually increasing it can make a lot of sense to delay filing for Social Security. However, not everyone will live long enough to reap the rewards of delaying their monthly benefit.  Many people see the decision to delay taking Social Security until age 70 as an all-or-nothing endeavor, but that is not the case. In fact, as Jeffrey Levine explains, this decision can actually be broken up into a series of 8 smaller decisions.  By using the strategy of nudging the decision forward every 6 months, you can break this seemingly all or nothing choice into 8 separate, independent, reversible decisions which will lessen the fear of an all or nothing approach. Challenges to using the every 6-month nudging approach As with every financial strategy, there are drawbacks to using the nudge approach every 6 months. The most obvious is that if you happen to die during your wait, you won't be able to collect the benefits. The author makes an important side note for married couples to consider this drawback. Listen in to hear what it is.  Another downfall is that retroactive applications can reduce your lifelong benefits. Something else to consider is that if you file retroactively, you will receive retroactive benefits in a lump sum which could lead to a spike in your marginal tax rate for the year.  Breaking down the decision of when to claim your retirement benefits into many smaller, less drastic decisions can give peace of mind to the decision-maker especially when they understand that the decision is reversible.  Resources & People Mentioned Getting Comfortable Delaying Social Security with Six Month Reversible Delays Kitces.com Jeff Levine on Twitter @CPAPlanner Connect with our Sponsor Boomer Benefits Boomer Benefits Facebook Page Boomer Benefits YouTube Channel Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

There was a time when index investing was considered to be un-American. Now, trillions of dollars are iunvested in indexes as the weight of evidence shows that few investors will consistently beat the market after all of those extra expenses.Don shares a new phone scam and we have a "leaf-blower" update.Then we hear from listeners:With fixed income questions about using TIPs (treasury inflation protected securities) and where to place bonds.Wondering if MYGAs (multi-year guaranteed-rate annuities) have a place in a portfolio?Curious as to why we bash speculating?Wanting advice on finding 100% fiduciary advisors.

Jim and Chris sit down to discuss listener questions about Social Security survivor and spousal benefits, MYGAs, Conflicts of Interest, the Minimum Dignity Floor, QLACs, and RMDs. (6:00) Cousin George from Delaware asks a question about claiming Social Security survivors benefits. (16:30) A Floridian wants to know if claiming Social Security spousal benefits will affect […] The post Social Security, MYGAs, Conflicts of Interest, the Minimum Dignity Floor, and QLACs: Q&A #2134 appeared first on The Retirement and IRA Show.

Can we learn what may lie ahead for our industry from regulatory changes in Australia? Will RILAs and MYGAs prove to be the winning products of 2021? How must we change how we explain our products to consumers? We discuss answers to these questions and more this week with Harry Stout. Harry has headed carriers in the U.S. and Australia. He has worked for IMOs and investors in the U.S. This year, he released a series of books on savings, investing, retirement and annuities titled The Financial Verse. You can learn more about Harry and order his books at https://www.financialverse.com/annuity-agent. Also, do you want to get regular updates on news from Harry and other guests of our show? Go to https://thatannuityshow.com and subscribe to our newsletter. We hope you enjoy our conversation.104 Adapting Our Annuity Business to Changing Regulations, Markets, and Consumers

Reinventing The Market for MYGAs.   Must annuities be sold not bought? Deirdre Woodruff, SVP and Megan Duty, VP of Puritan Life talk about the launch of Canvas Annuity and direct marketing of fixed annuities. So far, their effort shows that this old rule may be broken. In this week's episode, we talk about simplifying products, reinventing way to connect with consumers, and, of course, building trust in a digital age.  Connect with Deirdre Woodruff: Website: https://canvasannuity.comLinkedIn: https://www.linkedin.com/in/dierdre-woodruff-b05b67127/ Twitter: @CanvasAnnuity Connect with Megan Duty: Website: https://canvasannuity.comLinkedIn: https://www.linkedin.com/in/megan-duty/ Twitter: @CanvasAnnuity Connect with Nassau Re/Imagine: Join Our Incubator Program Website: Imagine.nsre.com LinkedIn: https://www.linkedin.com/showcase/nassau-reimagine Instagram: Follow Us