[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
[00:00:18] Speaker B: You're tuned in to the Retirement Planning Pipeline, the show that helps you take control of your financial future. Whether you're five years from retirement or just getting started, we've got the strategies, tools and experience to help make the most of your nest egg. Retirement planning specialists David Pipes and Steve Zarek are two trusted voices in retirement planning with over 30 years of combined experience helping hard working Americans navigate 401k rollovers, income planning, tax strategies, and everything in between.
[00:00:49] Speaker C: Thanks for joining us. I am David Pipes and if you're wondering how to get yourself on the right track for retirement or how to turn your savings into steady income, you're in the right place.
[00:00:58] Speaker D: And I'm Steve Zarek. Each week we break down the complex world of retirement in plain English, no jargon, just smart strategies to help you retire with confidence.
[00:01:07] Speaker B: Now let's dive into today's show and start paving the way to your smooth retirement. Here are your hosts, David Pipes and Steve Zarek.
[00:01:16] Speaker E: Hi again everybody. Welcome inside to another edition of the Retirement Planning Pipeline, the show that delivers expert insights, actionable advice, and real world strategies to help you retire confidently and comfortably. This is the radio show and podcast that breaks down key topics like investment planning, tax strategies, Social Security optimization, estate planning, and much more, all with a clear focus on helping you build a secure retirement. Thank you for making our show a part of your weekend. Before we get things started, I want to encourage our listeners to go ahead and schedule your 100 complimentary consultation with retirement planning specialists David Pipes and Steve Zarek.
[00:01:56] Speaker C: Do that today.
[00:01:57] Speaker E: It's a free offering just for listening to the show so our listeners, they can meet with those guys regarding their own financial situation with their family or their business and there's no obligation. So give those guys a call at 251-236-4371. Again that phone number 251-236-4371 and visit the website as well. Retirement planningpipeline.com all right, well we have a fun show on tap for today, but first we want to tell you about our podcast as well. The Retirement Planning Pipeline is now available on our website retirementplanningpipeline.com or your favorite podcast app, Apple Spotify, Iheart, Pandora or any other podcast vendor of your choosing. Give US five stars. Leave a review. We would love to hear your feedback. Also our YouTube channel. We don't wanna forget about that retirement planning pipeline on YouTube. Go there to see videos and subscribe to the channel. For weekly highlights and more special content, hit the subscribe button so you get notified when more content is available. Just search Retirement planning pipeline on YouTube. And finally, please don't hesitate to contact us with any questions you may have. We want to help you. David and Steve would love to meet with you and discuss how they can help you reach your financial goals. They can guide you through the world of tax strategies, risk management and a whole lot more, including annuities, which we are going to be talking about here today. Building sound financial and estate plans for our listeners is what those guys do and they're the best at it. Pick up the phone, give them a call at 251-236-4371 or visit retirement planningpipeline.com all right, annuity Answers, Unlocking retirement income secrets, your guide to smart, secure and sustainable retirement planning. By the way, did you guys know that legendary baseball player, hall of Famer Babe Ruth purchased a lifetime annuity? Today's content is all revolving around annuities. Coming up, Annuities 101. What are they? The type of annuities. Plus, we'll clear the confusion surrounding annuities, how the guys can help you get a high performance annuity and the million dollar question, a question that's on a lot of people's minds when it comes to annuities. Can annuities outperform the market in retirement? Okay, but first let's kick things off with our financial wisdom quote of the week.
[00:04:13] Speaker B: And now for some financial wisdom. It's time for the quote of the.
[00:04:19] Speaker C: Week.
[00:04:22] Speaker E: And our financial wisdom quote of the week. Legendary author Jane Austen delivering our quote of the week, she goes on to say, quote, people always live forever when there is an annuity to be paid to them. And with that, let's dive into today's show. And since today's program, of course, guys in is revolving all around annuities, let's start by cutting through the financial jargon. David, I'm going to ask you first, what is an annuity? And Steve, what are some types of annuities that people can utilize successfully?
[00:04:53] Speaker C: Yeah, Jim, first of all, I love the fact that we are diving into this topic because this is for the last two or three years, this is something that we've been hearing about back and forth, right? T charts, comparison charts, the word annuity. We always Say it's the gorilla in the room.
[00:05:09] Speaker F: Right.
[00:05:10] Speaker C: It's always that, that big word that everyone's scared to talk about or bring up. What are they. Has definitely switched from what they used to be to now. And I think the mathematical formulas behind annuities, you have to understand how they work first before you actually figure out the types. And then also what types fit certain goals.
[00:05:30] Speaker F: Right.
[00:05:30] Speaker C: So the word annuity is so vague. There's over 3,000 of them in this state alone.
[00:05:36] Speaker F: Right.
[00:05:37] Speaker C: So you have to really dive down into what type of annuity that you have. Um, and they all have different goals in retirement. And that's one thing, and we're going to talk about that later. That, that really pushes towards a retirement field because people get into those wrong annuities, which we're going to go over that, you know, on, on the mistakes and topics. But, you know, if I had to put it in my terms, I would say a financial vehicle in retirement or out of retirement to be able to tax defer growth or income. And that, that's, that, that's the two goals.
[00:06:10] Speaker F: Right.
[00:06:10] Speaker C: And there are other riders, of course, that you can put on these for and other accumulation factors and other death benefit factors. But that's what the annuity was made for, was for income.
[00:06:21] Speaker D: Yeah, absolutely, David. I mean, if you look at the different annuity has a lot of definitions actually. At the end of the day, you know, it's, it's money that's placed with an insurance company. You know, they guarantee certain payments. And like he said with the, you know, with Babe Ruth, some of those payments could be a lifetime. Some people can use them for accumulation. So they have a lot of different types and we'll get into the types. But when it comes to retirement, I think the important part of it is learning how they fit the retirement piece. Because I, I think more and more, as we've seen over the last three, four, five years, all the deposit records that are being made into annuities is, is the fact that people are starting to understand them better.
[00:07:00] Speaker C: Yeah, I, I think that people are, you, you hit on the head. People are getting smarter. They want to get smarter.
[00:07:05] Speaker F: Right?
[00:07:05] Speaker C: We've got this, we always talk about it, the big, you know, the wave of boomers turning 65 and with the wealth generation and you know, the most assets in the whole entire world.
So when we see this, we're seeing a lot of people that want to figure out for themselves, right. They come to these seminars and they, they really want to go into the, the gist of it, in the insides of what an annuity is, the insides of how it can affect the retirement cycle, what it can do, what goals it can do. And I think that because it's such a heavy topic, you get into certain aspects where advisors don't recommend them at all or recommend them all the time. And I think personally, you know, and this is just a fact, from a straight standpoint, annuities have a huge part in retirement. I don't care what anyone says, Steve.
[00:07:56] Speaker D: Do you see that, David? I mean, more and more, I mean, it seems like in the last, I'd say eight months to a year, I think the advisors are starting to catch on and they're using them as a planning tool in retirement. If the advisor's not catching on, they're stuck in the old ways. Because I ran into, you know, with a client of ours not too long ago, you know, we were moving money from another advisor to our firm, and part of what we moved was went into annuities. And next thing you know, the advisor's sending articles from 2013, how annuities are bad. I mean, we're talking 12 years ago.
So I think that advisor that was telling them they're bad is still thinking the old ways and not catching up with what's going on today.
[00:08:33] Speaker C: Yeah, and I, and, and Steve, annuities, Annuities, you know, they were never bad. There was just ones that you don't want to be into for your goals.
[00:08:42] Speaker F: Right.
[00:08:42] Speaker C: When someone's biased about something like this, obviously there's something on the other edge.
[00:08:46] Speaker F: Right.
[00:08:47] Speaker C: And we're a company, we're a holistic company. So we've got every, every aspect in the book. Being able to have that, have your money in a stock market to grow is the whole point of the stock market.
[00:08:55] Speaker F: Right.
[00:08:56] Speaker C: It's not meant for you just to throw your money in and make 3 to 4%.
The whole point of risking your funds is to be able to, to accumulate that growth. And I think that that's where the annuity is coming out, because it's also used as a diversification tool.
[00:09:12] Speaker D: Oh, yeah. I mean, we've, I mean, in the income play with the interest rates, you know, people, I don't think people realize that, but when, when they get into an annuity, the entry point's very important.
And when they get into that annuity and you look at the rates right now, we've had some pretty high rates the last 24 months on the annuity side. So when the Fed starts talking about cutting interest rates, there's there's, you know, word out there they're going to be cutting rates 2, 3 times 50 basis points, 100 basis points. That's going to affect the annuity, you know, down the road. Now, will it be bad? No, but it's the opportunity. Right now, I think people have to understand if they're even interested in looking in an annuity for their retirement, and I call it a tool, it's a tool in retirement, then they need to be looking now because if the interest rates, they lock in, they lock those in for life, and that's big. Some of these people getting in annuities are living 25, 30 years or like Jane Austen said, they live forever, you know, but if you, if you think about that, you know, why not live forever when you got to get in this straight and you have a product that's performing the way you want to perform in retirement.
[00:10:13] Speaker E: Guys, let me ask you this, and you mentioned, David, you sort of alluded to it. Some advisors are for annuities and others steer completely away from it. Steve, let me ask you, with all of your years in the business, why do so many advisors either love or hate annuities? What's the big deal?
[00:10:31] Speaker D: Jim, that's a good question. If you think about the type of advisor, I think that's where it starts. If it's an advisor that all they want to do is have growth, growth, growth, amass the assets, they're getting paid fees, you know, they don't want to, they don't want to release any of the money, so they want it just to grow. And then when that person passes away, maybe they, they pass it on to a family member and they manage that money. So they're keeping the income for the advisors staying there.
A lot of advisors, I've realized, and I know a lot of them, personal friends of mine, they don't like the income piece of retirement. They don't like the payout piece, they don't like the income piece. So when you look at an annuity, ultimately it has a stream of income built into it and it fits that piece of retirement. And the brokers are rather leave it in the market and say, hey, why don't we just pull off your investments? And I think that's getting back to your question, Jim. I think looking at the different advisors over the years, plus they're, you know, annuities are complicated.
They are. I mean, there's so many different types, so many complications if they're not educated, if they don't write for certain companies and that's the one thing that's nice about what David and I do. We practically have every company out there, every annuity at our disposal, and we can do the due diligence of shopping them for our customers.
[00:11:43] Speaker E: And Steve, you're so right too. David, I have a question for you. So many people, and you again mentioned this, Steve, that they confuse annuities with investment products.
Are they or are they more like insurance? Let's clear those points up. David.
[00:11:58] Speaker C: Yeah, that's. Oh, Jim, great question. Honestly, I wouldn't even ask myself that because in my world, you know, I already, I already know that, that answer. Okay, so I'm glad that you asked that question because the one key thing that if I, if anybody could understand is an annuity is not insurance insurance in the actuarial world. The people that actually create the formulas behind the insurance world go in there and they create a cost of insurance. You're paying for something to be able to insure your risk and transfer your risk. Okay, Annuities are not transferring anything, right? They're just lowering your risk, period. Your funds don't have any risk at all. There are vehicles put inside of insurance companies, right? Life insurance or there's a lot of financial institutions out there that also, or banks have annuities. I mean, you know, so there's a lot of times that people misunderstand, say, well, there's a mortality cost. And I've heard that at two seminars in the past month.
And I have to sit down with someone and say, look, there is no mortality cost. There is none.
[00:13:02] Speaker F: Right?
[00:13:02] Speaker C: It's not, it's not something that you're paying for life insurance on a tax free benefit down the road, you're not paying a cost of insurance.
[00:13:10] Speaker F: Okay?
[00:13:10] Speaker C: And as easy as that can say, right? When you pay your premium. Okay, let's, let's break this down simple. If you're paying your premium towards a life insurance policy, some. Now if it's a term policy, the cost of insurance is just your premium, right? That's your mortality cost. Now if you go into something with a cash value, okay, part of that premium is your cost of insurance and part of that premium is your cash value that you're able to grow. That is not an annuity. Two separate things. So when you look at an annuity, it's more of a financial vehicle. Now they've, which Steve, kind of brought it up, we're transitioning into these things because the companies are figuring out how, how awesome they are for retirement. I mean, really, that's, that's really what's happening. I mean, these, these annuities and these companies are realizing, hey, look, if I can help a retiree and make them 7 to 8% with no risk, and they're pulling out that 7 or 8% for five or 10 years for income, or if I can guarantee income to a client, that if they live till 90 or 100 years old, they're still getting paid. That is something valuable that no one else has.
[00:14:17] Speaker F: Right.
[00:14:18] Speaker C: So they're meant for different things.
[00:14:20] Speaker D: As complicated as annuities are, they're simple for people that buy them for retirement if they put them in the right position in their retirement. Because if you think about the people we've helped, I mean, annuity simplifies things. If the market, you know, the S&P 500 goes up, they get a gain. If it goes down, they don't lose. If they want income, we know what the income is going to be for life. For a retiree, it's a very neat tool to put in their retirement plan, and it simplifies part of the assets.
But the complicated part comes from the advisor. The advisor has to make sure they do their due diligence. And you and I have both seen this in the last six months. We walk into somebody, or they meet us at a seminar, or they come to our office and they show us what they have and they don't have the right one. It happens all the time.
And we go back to that advisor. Maybe he was cutting corners. Maybe he only knew one or two companies, maybe only knew four or five products. You know, maybe he wasn't shopping the right one for that client. And that's where I think the bad press comes. When you talk to people and they say, oh, that annuity was bad, it's because they didn't get the right one.
[00:15:26] Speaker F: Yeah, yeah.
[00:15:27] Speaker C: And when we talk to a client, Steve, that's the first thing a lot of them say is, man, you guys break it down so easy. I didn't know it was that simple, Steve. That really, it's baffling to me because why don't people, why do advisors want to make it complicated? Just make it simple. These people in retirement, they. They want to retire with simplicity, Steve.
Not, not, not complicated problems, not complicated formulas. They just want to retire and know their plan and know how it affects their plan and how their goals are going to be made. That's it. It's that easy.
[00:16:00] Speaker D: And they want to. And they want to get rid of the stress in their life. And, you know, that's one of These pieces that annuities can solve takes a lot of stress out of retirement.
[00:16:08] Speaker E: Yeah. And again, if you have any questions or concerns, we encourage you to reach out and give the guys a call today at 251-236-4371 or visit the website retirement planningpipeline.com coming up, later in the show, can annuities outperform the market?
But up next, clearing the confusion surrounding annuities as if we didn't do it in the first segment. We'll give you more in the second segment, coming up. Thanks for listening to the Retirement Planning Pipeline. We'll be right back.
[00:16:36] Speaker B: Helping you take control of your financial future. This is the Retirement Planning Pipeline.
Welcome back to the Retirement Planning Pipeline. Here are your hosts, David Pipes and.
[00:16:56] Speaker E: Steve Zarek, segment two of the Retirement Planning Pipeline. Thank you so very much for making us a part of your busy weekend. We're glad to bring you financial insights and information as we do every Sunday morning at 9am right here on Mobile's own NewsRadio, 710WNTM. And of course, we thank our podcast listeners from all over the country, all over the world for taking a listen to our show as well. And if you are listening, wherever you may be enjoying our show via the radio, the podcast, whichever platform form a reminder, a free no obligation consultation is right there for the taking. Visit retirementplanningpipeline.com for more information. Retirementplanningpipeline.Com to schedule your free no obligation consultation. All right, guys, as we explained in that last segment, we talked a lot about annuities. Today's show is centered around annuities. But in that last segment, an annuity is a fixed sum of money paid to someone each year, typically for the rest of their lives. Annuities, they offer downside protection, income for life and 100% reserve requirement products. So in other words, it's safe money. So let's move on now and let's dissect the common myths surrounding annuities. Myths like annuities are only for retirees. Annuities cost too much, things like that. Annuities aren't tax efficient. That's another myth as well. And those are just some of the myths that hang over annuities each year. So Steve, you've been a success, successful financial advisor for 30 plus years.
What are some common myths that you've run into pertaining to annuities?
[00:18:29] Speaker D: That's a good one, Jim. I mean, when you when it over the years of me in this business, I think some of the biggest ones we hear Quite a bit are, you know, I don't want to put my money in that annuity because I can't touch it. I'll never get my hands on it. I kind of give the money to an insurance company, and I can't ever get my hands on it. I think that's a big myth out there. The other thing, you know, we hear people talking about, well, I'm too old for an annuity, and kind of the opposite when you come to that myth, because first of all. Let me answer the first one. When it comes to you can't get your hands on your money. Annuities have several liquidity features.
And if you look at the root of an annuity, it's to pay somebody out over their lifetime. So it's. It's designed to give them money out of the contract. So, you know, if somebody's getting into an annuity and they can't. They don't have access to it, it's probably the wrong one because, you know, I can go through numerous ways these annuities give you access. And one of the neat things they've done over the last few years, most annuities out there, because people are retired that are getting into these annuities, they have liquidity features, such as if they get sick and go to a nursing home or. Or they need home health care, then the money's completely liquid, you know, no matter where they are in that contract.
The other one is, you know, there's no penalty on death.
So if somebody passes away a day after they get the contract, it's free and clear to the beneficiary. So those are some important things for people to understand.
You know, although it's a myth, it's not really true. And if you look at the other one I was talking about, they're too old.
The unique. The funny thing is, is when people come to us and they're 20 years old and they want an annuity, we kind of talk them out of it because they're really designed for retirement as they get older in their life, in their, you know, in their life. And they're looking to retire. They're looking to place some assets aside, keep them safe, get some growth, and then have opportunity for income. David, what. What are some of you can think of?
[00:20:20] Speaker C: Yeah, one thing. I want to hit on that, too, guys. And this is something that I think that we talk about. Enough with that. I don't stress to a lot of clients.
If you're hearing now and you just heard Steve say this, and there's something that you guys have in your mind or questions or liquidity features. If you think that you're just putting your money with an insurance company and then you don't have access to it, you need to meet us. Obviously you have things that you don't know and there's never going to be a lot of, you know, transparency with certain people that, you know, are biased on these things, okay? And that being us, right? We're literally the most unbiased people because we have access to everything.
So it doesn't matter to us whether you, you know, we position your portfolio and blank and blank. You know, you're our client. We do the best for the client. So when we sit down and go over these things, these myths I know pertain to many of you. If you have certain questions about these and you need more answers, please sit down with us. It's a free consultation. We can go over this with you. We pull out the whiteboard, we go over some numbers. We really want to help you guys out, you know, And I think right now in the retirement industry, we're seeing a lot of these myths become, will really become fake facts, right? We, we walk in and we see these people that they, they think they're smart enough and they think they did enough research, but they sit down and they, then what they actually tell us is about one certain type of annuity, right? Which A, A lot of the times we can, we can bring that up. A variable annuity, guys, is the total opposite of a fixed annuity. They are opposites in a lot of ways, right? They have similar, one or two similar traits. But I mean, one has downside risk, one doesn't, right? One has management fees, one doesn't.
So a lot of the times, you know, in, in these predicaments, we get these myths, but then they're, they're pointed at one certain direction, right? And I think that the one thing that we can do is understand that everything has different sides, okay? And I, you know, Steve and I both, we can tell you this. You know, the one myth of the liquidity, of course, is wrong, right? There are a lot of ways you can cut your money and you know, the income portion, the whole point of it is a lot of the time, Steve, we're using qualified funds, we're using IRAs or one case TSPs, right? 4, 3 Bs. So when you look at these qualified funds, these qualified plans, guys, you're never going to take. And if you do hold up, if you do take all your money out of your 401k or your IRA, or if you're thinking about it, you need to call us today. Call us today, sit down with us. We'll go over why you should not. That is the least tax efficient way you could ever use your money, first of all. And you can go to a CPA about that, and they will tell you that straightforward, too.
[00:23:09] Speaker F: Okay?
[00:23:10] Speaker C: But on the other side of things, right, you're never going to want all the money at once, right? You're going to end up going in a higher tax bracket. You're going to end up paying more to the irs. No one wants to do that, Right? No one wants to say, hey, I have a million bucks and I want to pay off my house, so I'm going to pay $300,000 to the IRS.
No one, no one in the right mind wants to do that. I don't want to do that. And I know Steve doesn't need it.
[00:23:34] Speaker D: So, David, following along that thought process, and I know we're going to get back to the myths, but you know, you're talking about qualified funds, the 403s, the TSPs, really, you have to break it down to a client, don't you?
[00:23:46] Speaker C: What?
[00:23:46] Speaker D: That money's really designed for you do you do.
[00:23:49] Speaker C: And, and that's, you know, that's where it gets tricky because people are being brainwashed. We talk about this all the time, but people are getting brainwashed that IRAs are for the kids.
I mean, I don't know how to make it any more simple. Steve. What's an, what's an IRA stand for?
[00:24:09] Speaker D: Steve, that's your individual Retirement Account. Trust me. My three kids are in college right now, so they're getting their retirement.
[00:24:17] Speaker C: And the whole thing is this, man, the middle word, Individual retirement. It's for retirement. Okay? You're not plugging in your IRAs to give forward death benefit to your kids. Actually, the IRS is now saying, hey, when you pass away, your IRAs have to be, have to be distributed in 10 years now, right? So the whole time, of all the. That's a big myth that I think that's going around too, is, is that, oh, well, you know, the stock market will always. The 4% rule. That's a myth.
The 4% rule does not exist anymore. It just doesn't.
[00:24:52] Speaker E: Let me ask you this, David.
[00:24:54] Speaker C: What?
[00:24:55] Speaker E: When a client has come into you and they've had questions about annuities and maybe they dispersed a myth about an annuity, what has been the most ridiculous myth that you've heard from a client that you then turned it around and got them on board with annuities.
[00:25:11] Speaker D: Oh, man, that's a tough one.
[00:25:13] Speaker C: I, I definitely say fees.
Yeah, I'd say fees. That's the number one we get is, oh, well, there's high fees and annuities because some of the biggest corporations push that. Which actually. Quick little fact, and I've been seeing this a lot on social media.
Fidelity, everyone knows Fidelity, right? Fidelity, one of the biggest 401k companies, is now one of the front runners in telling retirees to look into annuities. There were two advertisements yesterday and last night that I looked at that said, how can annuities be positive for a retirement plan?
One of the largest financial brokerages in the whole entire country.
[00:25:55] Speaker F: Okay?
[00:25:56] Speaker C: This is something that is, it's. Guys, it's coming out, right? These annuities are being transitioned.
[00:26:02] Speaker F: Okay?
[00:26:02] Speaker C: So. But I think the one myth, Jim, to go back to what you were asking, you know, as far as the fees go, okay, There's. There could be fees on different things in an annuity. So I think that part is, is what confuses and brings the confusion out towards a lot of advisors and, and towards the clientele, right? Because there's fees on allocation methods which should never, in my opinion, you should never be in an allocation that has a fee.
[00:26:30] Speaker F: Okay?
[00:26:31] Speaker C: There's expense ratio fees, okay. Inside of variable annuities, things like that, or indexed index accounts. Number three is there's management fees. And those are mainly on.
[00:26:41] Speaker F: Right.
[00:26:41] Speaker C: Those RILAs or the, the variable annuities. Okay, you should. That there should never be a management fee. I don't think there even is that I've seen on a fixed index anyway, annuity ever.
[00:26:50] Speaker F: Okay?
[00:26:51] Speaker C: And last but not least, there's writer's fees.
And this is what we see the most of because people are always saying, hey, I'm paying a fee out of my account. I don't know what it's for.
Okay, but what was your goal of this contract?
Well, I just wanted some diversification. Okay, well, if you want diversification, you shouldn't have a fee. The fee is just going to be guaranteed an income, which is called an income rider, right? Because that company is guaranteeing you a big, a large payment, right? A lump sum payment every single year, every single month for the rest of your entire life.
[00:27:23] Speaker F: Okay?
[00:27:24] Speaker C: So there are certain fees that tie towards certain goals, right? If your goal is growth and accumulation or your goal was diversify, you should not have any fees come out of your account. There should not be one portion of risk. Steve, do you agree with me on that?
[00:27:37] Speaker D: Yeah, and I think that's where, you know, the, the people that come to us are really confused because there's so many moving parts with annuities, and if they sat down and they purchased one or they were thinking about purchase one, they somebody may throw out. Well, there's fees. Or you have this, you have that. Well, some do and some don't. And I think what you just said on a fixed index annuity, you know, it's just like any type of insurance. If you add a rider to it, there's going to be a fee. If I go out and buy life insurance and I want to double indemnity in case I get in a wreck and crash, you know, unexpectedly, and I want two times the money to go to my family, then I'm gonna pay a fee for that rider.
If you have an index annuity and you're looking to add different pieces to it, such as an income rider, then there's probably going to be a fee on there to give you a higher payout. But a basic core index annuity has no fees. And then, you know, we hear, well, how do they pay us? You know, how do they pay you, David? How do they pay me? You know, the fees, the contracts are built in where they pay us on deposit, and actually it pays to Amerilife. Amerilife pays us. So, you know, there are. But it's all built in and it's not taken off the customer's money. And I think that's where, you know, they come to say, well, I don't want to pay you a commission. You don't have to pay us a commission. The insurance companies have already calculated that on their investments, they pay us out of their money, not your money.
[00:28:56] Speaker C: It's basically a finder's fee. That's what it is.
[00:28:58] Speaker F: Right.
[00:28:59] Speaker C: We are advertising the. There's tons of companies. Whichever one that's best suits the client's goals and has the best rates and it has the best indexes at that time, or, you know, growth for clients or income for clients, we get paid a finder's fee from that company.
[00:29:13] Speaker F: Right.
[00:29:13] Speaker C: So there is no bias on that point. Now, what, what I will say that's super important, you know, Steve, that, that I think that many people miss the most out of.
[00:29:23] Speaker F: Right.
[00:29:24] Speaker C: Is we're not here to just say, hey, we're going to pitch an annuity.
[00:29:29] Speaker F: Right?
[00:29:30] Speaker C: That's. And I think people misunderstand that part of annuity.
[00:29:33] Speaker D: But, David, too many people in our business do that.
[00:29:36] Speaker C: And that's where, that's where, that's what hurt a problem is, is when you have annuities that are being pitched. And if you're out there, and I've said this in other, you know, other episodes, if you're out there and you do have an annuity or you have gotten new annuity and these things are happening to you and these things we're talking about is a big problem, please call us.
[00:29:56] Speaker F: Right.
[00:29:57] Speaker C: Steve and I sit down with clients. I probably sit down alone with the two clients every single day that have old annuities that I can help out, right? And it's, it's because of multiple reasons, maybe about, maybe an uneducated advisor, right? Maybe the wrong plan, maybe the plan switched, right? Maybe the person retired that was, was planning or that. Who knows what's going on. The whole point is this is if you have an annuity at all, you need to be looking into this stuff and understanding what's out there. And that's what Steve and I mean, a lot of our business is from that, guys. So please give us a call, sit down with us. Let us at least go over it with you and make sure that you're.
[00:30:35] Speaker D: Your goals are being met first of all.
[00:30:36] Speaker C: And second of all, your goals are being met with the best products in the entire country.
[00:30:42] Speaker E: And if you continue to be unsure about anything involving annuities, as David mentioned, we encourage you to give those guys a call. David and Steve, give them a call today. Don't guess. Get clarity. Reach out for a free no obligation consultation so you can reduce future taxes and again, keep what, what you earned and get all that clarity that you need, more importantly, of course, on annuities. So again, just go to retirementplanningpipeline.com that's retirement planningpipeline.com this is the retirement planning pipeline.
[00:31:14] Speaker B: 30 years of combined retirement planning experience.
Call David and Steve today at 251-236-4371. The retirement plan planning pipeline. We'll be right back.
[00:31:36] Speaker A: Do you want a steady stream of income for retirement? Then it's time to consider annuities. I'm Matt McClure with the Retirement Radio Network, powered by Amerilife. Gone are the days when most employers offered pensions with guaranteed lifetime payouts to their workers.
But what if I told you that you can build your own personal pension? It's possible with an annuity. An annuity is a financial product that provides a series of regular payments to an individual over a specified period of time, often for the rest of their life.
[00:32:05] Speaker G: There are several options for you to consider when choosing an annuity. Be confident in knowing that there is an annuity out there that can meet all of your needs.
[00:32:13] Speaker A: Ford Stokes is founder and President of Active Wealth Management and author of the book Annuity360. There are several different types of annuities and including fixed, variable and fixed indexed.
[00:32:24] Speaker G: A fixed annuity offers a specific guaranteed interest rate on their contributions to the account. A fixed indexed annuity is an accumulation based product offered by an insurance company. The growth of your fixed indexed annuity is dependent on the performance of a chosen stock market index, but your money is not actually invested in this index. This offers you great growth potential and exceptional protection from for your investment.
[00:32:49] Speaker A: While each can provide tax deferred growth and a lifetime income stream, variable annuities put your principal at risk in the market.
[00:32:56] Speaker G: If you are currently investing in a variable annuity, your funds could be in serious trouble if the market experience any downturns.
[00:33:03] Speaker A: With so many possible choices to consider, it's essential you speak to a financial advisor or professional to help you make the best decision for your future.
So are you ready to consider an annuity as part of your retirement plan? It's a key question to consider as you approach what should be your golden years with the Retirement Radio Network. Powered by AMERILIFE, I'm Matt McClure.
[00:33:23] Speaker B: Planning for retirement doesn't have to be overwhelming. Get expert insights, tools and personalized strategies to secure your future. Visit retirementplanningpipeline.com today. Your retirement, your plan, your peace of mind.
[00:33:40] Speaker E: You're listening to the retirement planning pipeline. If you missed any part of today's show or want to go back and listen to previous episodes, go ahead and subscribe and listen to the program in podcast form. Apple, Spotify or whichever platform you enjoy your podcast from. Leave a review as well. We would really appreciate that. Coming up, the million dollar question around annuities, but I want to take a moment to tell you about Smart Vision. What will your retirement look like in the future? Now, planning for your retirement years starts with a smart vision.
[00:34:08] Speaker C: Vision.
[00:34:09] Speaker E: What you will you be doing? Who you will you be spending time with? Who will you be taking care of? What are your goals? How do you plan to fund a 30 plus year retirement if you don't start with a clear vision and set goals for your retirement? A reminder, you could experience a lot of unknowns down the road. In fact, according to a recent study, 37% of Americans feel they need more education on retirement planning. Moreover, 52% of Americans wish they had More education on how to invest.
We recommend you sit down with your spouse, family and consider some important factors that will affect your golden years. But also of significant importance, David and Steve provide you with a complimentary consultation and a retirement plan Simply by calling 251-236-4371 or by visiting retirementplanningpipeline.com all right, let's continue on here with Annuities, our show today revolving around annuities. Guys, I want to ask you, with your 30 plus years of combined experience, what has been your process of getting people the right annuity that fits their retirement situation?
[00:35:13] Speaker C: Yeah, I think, you know, the first thing is the fitting part, right? You have to be able to, to understand the client's goals first. And we go over this a lot with, you know, a lot of clients, but we have to really understand what you need or what you want out of retirement.
When, when we sit down with you, it's really never about, hey, here's a certain product or here's a certain aspect of what, what you should do, or here's a, you know, a company that has these rates right now that never comes out of our mouth, right? Because the first, the first assessing goal is, is the client, right? The, the client's goals and needs.
Now, when that comes down to it, we've got multiple ways to really figure that out. The first is really having those questions. So really, Jim, to be honest with you, having those first questions with a client, asking what their goals are, feeling them out, having a really a comfortable standpoint of trust really with us or what we really want to do for them is kind of the first basis that we go.
I mean, and there's really two, well, really three sides of things, right? And we always say this. So I mean, if anyone out there, there's three sides to it. You have to have your legacy planning figured out, okay. If you want to give money to the kids, right? And I, we have a lot of clients that don't. We don't even talk about it.
[00:36:36] Speaker F: Okay.
[00:36:36] Speaker C: But if you do, that needs to be figured out. Number two is income, right? Income and expenses. We go over that in, in recent episode. But you have to go over income expense ratios. What are you spending compared to what you're bringing in?
[00:36:52] Speaker F: Okay.
[00:36:52] Speaker C: And last but not least is your accumulation without risk, right? If you're going to want some type of, you know, withdrawals of that money in the future or in the next year or two, but you don't want that, that money to a risk that, that, that's a Big one as well. So I think I start with those three first.
[00:37:09] Speaker D: Yeah, David, I think you made a good point. You know, if you think about it, when we sit down with people, it's like putting their money and their assets into different buckets and finding out what those buckets, what, what they need to look like. And the way we do that is when we sit down with our clients is just have a normal conversation of trying to get a picture of what they want their retirement to look like. I don't, I think a lot of clients don't even, you know, they come to us. Well, I kind of want to retire. I don't want to retire. I want to travel. I want to do this. So we really sit down and find out their goals and what they want their next 5, 10, 15 years to look like. And then we kind of carve out their retirement plan by using different buckets. Whether it's income, whether it's tax deferred growth with no risk, whether it's, I want to carve out a piece for their children or grandchildren, you know, and I want to do it the most tax efficient way. Those are the ways we kind of get into conversation with prospects and our current clients to find out how we can help them with their retirement goals.
[00:38:04] Speaker C: So as honesty comes straightforward. Steve, one question that I think we get a lot, and I know I get it a lot, right, is, is an annuity for just a retiree?
[00:38:18] Speaker D: I.
Not really. I think it could be part. I mean, I could. It's definitely pre retirement.
How early depends on the person and their assets and their income and what their plan is. But I think definitely rolling into retirement, it should be a big part of their retirement.
[00:38:36] Speaker F: Right, Right.
[00:38:37] Speaker C: I think we talked about all the time, three to five years before retirement. You, I mean, if, if you're not bringing an income or you're thinking you're not bringing any more income, three to five years of working, that's when the annuity becomes a topic, really. It does, you know, and I think that because of what these things have to offer, offer retirees is why, why the word is so. Is so out there right now. Steve.
[00:39:02] Speaker F: Right.
[00:39:02] Speaker C: Because, I mean, yeah, and if you.
[00:39:05] Speaker D: Think about that, I mean, a lot of the bigger companies are still providing pensions. They're using annuities for the pension.
[00:39:11] Speaker F: Right.
[00:39:11] Speaker D: So there's a reason for that. And, and I think when it comes to income, I had a friend of mine, he's over 50 and he's still working, he said, if I give you half a million dollars what can my payout be? I said, well, that's a, that's a loaded question because it's how old are you? When you get in, what interest rate are you locking in? And when do you want to attack it for income? All those come into play.
[00:39:29] Speaker C: Right, right. And that's all those factors that go into certain circumstances that advisors don't want to deal with. And I think a lot of the times it's a little more work on the back end. I mean, you've seen me, Steve, I, I sit back in the office and I do numbers and numbers and numbers. I mean, and because I care so much for the client and what they need, it all comes down to understanding, really, you know, where the plan is and how I can assess that plan. We, we call it a problem and solution. And I say this at the conference the other week in Miami, I, I brought this up to all the other agents. I said, look, if, if you're not understanding what the client's problems and issues are, then filling out how to solve them, then you're not doing your job properly.
[00:40:12] Speaker F: Right.
[00:40:13] Speaker D: And.
[00:40:13] Speaker C: And I'm not.
[00:40:15] Speaker F: Go ahead.
[00:40:16] Speaker D: That was a good point because again, it goes back to what we said earlier on this episode. Here is the fact that people are going out and pitching product. And I think that's you. To me, you can't be a good advisor, a reputable advisor, looking out for the best interest of your client. If you're just going out and pitching a product, you gotta uncover, like you said, go into the clients, talk to them, get to know what they're looking for, what the problems they may have, and then find solutions.
[00:40:41] Speaker F: Right, right.
[00:40:42] Speaker C: And the finding solutions part is, I think, one of the easiest parts. But the problem is, is you can't find a solution if you don't find the problem first, Steve.
[00:40:51] Speaker D: Correct.
[00:40:52] Speaker F: Right.
[00:40:52] Speaker C: So it's cause and effect. And I, and that's what's happening right now is you're seeing a lot of advisors and planners that don't want to find a problem, Steve. They don't want to, they don't want to initiate what the problem is because they don't want the client to feel like they have a problem.
And that's the biggest issue out there in the retirement cycle. You're transitioning from a literally accumulation phase to the distribution phase. That is an issue.
You have to change up things in retirement cycle. You cannot keep things the same.
Putting your money in bonds.
[00:41:26] Speaker F: Right.
[00:41:26] Speaker C: And can. It's not going to help you out. Stunning. Your growth is not going to help you, right? You have to be able to plan these assets accordingly.
People, over a million dollars, that money can go faster than you ever know. We had a client with 1.5 million. Now he's at 800 grand in a matter of four years, right? And Margaret had a little bit of dip. He took, he took some money out during April. Things happen. You can't just expect things to be the same over a short amount of period of time. That's statistics, folks.
[00:41:55] Speaker F: Okay?
[00:41:56] Speaker C: So if you look at the actual numbers and you look and you say I have a sample of data points, if I have 50 years and then I only have 10, you're decreasing those data points by a fifth, right? You only have a fifth of the data points. You can't be confident with that, right? Look at the dead decade, okay? Just, just imagine if that happened today with retirees. They'd be out of money in 10 years.
So you can't, you can't play the same, the same game that you were playing your entire life. You're not plugging in money anymore.
And that's one of the biggest things. If you're hearing us today, guys, and why you, why you really should sit down and understand these things and plan them is because things change, right? Plans have to change. Advisors have to change. Our plans for you.
Every year is not going to be the same, Steve. You know that the most. How many times are we changing allocations for clients? I mean, things have to be changed. They just, they just do, you know, and, you know, that's, that's one big thing that I think we're coming across of is people don't like change and they're scared to admit when change is needed.
[00:43:01] Speaker D: Yeah, well, if that's a good, good point. But the world around us is changing constantly, so.
[00:43:07] Speaker E: Well, if there's anything we shared on this week's show that makes sense to you and you could use some help with a free no obligation retirement consultation, don't hesitate to give us a call. We do this show to bring important information to people like you, and we love meeting our listeners as well. Visit retirementplanningpipeline.com or call 251-236-4371 for your personalized investment confidence checkup. Stay right there because coming up next, can annuities outperform the market in retirement? You're listening to the retirement planning Pipeline. We'll be right back.
[00:43:40] Speaker B: 30 years of combined retirement planning experience.
Call David and Steve today at 225-1236-4371. The retirement planning Pipeline. We'll be right back.
Missed part of today's show. The Retirement planning Pipeline is available wherever you get your podcasts
[email protected] welcome back.
[00:44:08] Speaker E: Inside the Retirement Planning Pipeline, the show that delivers expert insights, actionable advice and real world strategies to help you retire confidently and comfortably. Jim Taraboki here alongside retirement planning specialists David Pipes and Steve Zarek. Thank you for making this show part of your Sunday morning each week right here on Newsradio710WNTM. All right, guys, here we go. Time to answer the million dollar question. Can annuities outperform the market in retirement? Now this is where things get really, really interesting. We always hear that investing beats annuities over the long run. But guys, is that still true in retirement?
[00:44:47] Speaker C: I'm gonna let you answer this one, Steve.
[00:44:49] Speaker D: Yeah, that's a good question. You know, 30 years I've been doing this. I mean, if you look over 30 year period, annuities aren't gonna outperform the stock market. We're not trying to, you know, I think that's where if you look at these fixed index products that have come out, you know, years ago, they were to give a better interest opportunity for people in retirement. So when the market does well, they can do well without having the risk. And that's the perfect scenario for a retiree. I think one of the things that we've seen here in the last year or so David and I have seen is the accumulation of qualified assets.
And if you look at the qualified assets, people are actually saving for their own retirement.
And you know, we go out and I know David had somebody, I think it was in Fairhope not too long ago, says, well, I don't need income. Well, you have this asset sitting here, you saved for retirement, you saved it for income.
Why not draw the income off of it? And I'll let you continue that conversation, David, how you help that client.
[00:45:49] Speaker C: Yeah, yeah. And I think it's pretty simple. And to make it simple for the client, make it simple, you know, for the retirees out there, you built your portfolio for your retirement income. That's the entire, that's the entire aspect of saving money, right. I'm saving money and plugging into my SEP ira, right. To be able to live a life with from when I don't work for, to supplement my income.
[00:46:13] Speaker F: Right.
[00:46:13] Speaker C: However much that is. So for people to say, well, I have all this money and I have assets when I want it and I don't need it, I'll take it out when that's not the whole goal, right? You got to go back to where your original goal was, okay? Living on 40 grand a year and not doing everything that you want to do is not living the best retirement that you thought about 20 years ago, right? So I'm sorry to break it to you, but when I retire, my goal is not to live off what I need. My goal is to live off what I want. That's why I'm saving the money that I am now is to be able to live that retirement lifestyle that I want to live.
So like Steve was saying, met a client, great guy, pilot, and he's, you know, we sat down at his house and he said, hey, look, you know, I don't know, I only need about 20, 30 grand extra a year. Neat. But I might go out and go to a couple babe, you know, talk to his wife. Do you want to travel a little bit? She's. Of course, yeah, let's travel a little bit. You know, the wife always wants to. So we sat down and finally realized, hey, look, man, you've got $1.5 million in assets of just qualified funds. That's not your cash, it's not your checking, it's not your savings, it's not your money, Mar. It's not your brokerage accounts. That is just qualified funds, right? Ended up putting $750,000 away. Next year will give the guy close to $70,000 a year for the rest of his life.
[00:47:34] Speaker D: Okay, those are impressive numbers. And he was what, 65?
[00:47:39] Speaker C: Yes, yes, 65 year old. You know, and he's only going to. The crazy part is, Steve, he's probably only going to use about 40k of it, right? But what we talked about was in the end of the story was, look, if you don't use it, reinvest it, right?
The market's so high. He was worried about it. The market's pretty high right now. I said, well, wouldn't you love to buy more when it dropped? Yeah, if I had the assets to do that yet. Well, guess what? They got an extra $30,000 in.
And you know that it's a great time to buy.
Plug your money back in, right? So you have the advantage. The company's gonna give you these. This guaranteed income. It's actually right now, Steve, and you could say this with me, if anyone out there is looking at any guaranteed income and you guys are in the retirement phase or looking to go into the retirement phase, you need. Need to shop right now.
[00:48:29] Speaker D: Right now.
[00:48:29] Speaker C: Rates are going down next month, Steve.
There will be no more products like they are now. We've already seen them decrease a little bit, right. We're not, we're not going to have these in by next year or the year.
[00:48:42] Speaker D: It goes hand in hand. It's kind of like when mortgage rates were so low, everybody should have refinanced. If they, if they didn't refinance and they had a mortgage, they missed the boat. This is the time if you want the highest income opportunity. So if you're even, even five, six, seven years from retirement, if you lock those rates and now you're locking them in for 30 years, 40 years, you're locking them in for the rest of your life.
[00:49:02] Speaker C: You're thinking about a lifetime opportunity. We call it a financial phenomenon and people think it's a financial hurricane. It's not. It is a phenomenon right now. I speak in my seminars every time and I tell retirees this, you have the opportunity like no one else had you do. It's been a long time, I hope, Steve. I really. Well, Steve, not even a long time because these sticks index annuities weren't there 30 years ago, right.
[00:49:28] Speaker D: And they didn't have the accumulation they have now plus the income. They're just, it's a perfect, perfect scenario.
[00:49:33] Speaker C: The old annuity, you threw a purchase payment in and then you wouldn't see the rest. It would just be a payment pay off for life.
[00:49:38] Speaker F: Right?
[00:49:39] Speaker C: You've. We've never seen what we have now ever in the history of the United States, ever. And in the financial market, we've never seen it. There is no reason that if you are, have your mind on retiring or should retire and you are switching from that accumulation to distribution phase, right? So you're switching to taking money rather than making money at any time in the next three to five years that you should not be on the phone with a planner and figuring out how to plan your income down the road. There is no reason at all. Please give us a call. I mean, it is the easiest thing. Just sit down with us. It's completely free. You know, Steve and I are two people that really go side by side on simplicity.
We want to make it simple for you, but the only way we can do that and the only way you can really understand your income strategies and your income goals is to be able to go over this stuff and understand how you can do it. And trust me, guys, right now is the best time to get into these rates. I mean, we're not going to see them really ever. Probably not. I won't Say ever Steve, because we just saw them increase, but with the way that the market is right now and the way that the interest is going to be cutting and you know, the, the back office, we're not going to see them for a while.
[00:50:51] Speaker F: Right.
[00:50:51] Speaker C: So take advantage of the opportunities, guys. That's the one thing I have to say.
[00:50:55] Speaker E: David, let me circle back to something you said earlier in the segment. You talked about how couples living on $40,000 a year, a fixed income, if you will, is not really living comfortably in retirement. Steve, how do annuities help you avoid, if you're talking to a client about this, someone who's on the cusp of retirement, how do annuities help you avoid that fixed, that fixed income mindset?
[00:51:23] Speaker D: Well, Jim, you know, good question, good point. I mean, and again, it kind of leans back to and it doesn't just have to be the qualified funds, the IRAs, 401ks, it could be other assets as well. We, I had somebody that sold a house, didn't want to get back into the housing market but wanted to supplement his income and the annuity, you know, talking about the annuity, when you go into these fixed index accounts and you add the income rider, you can build the, the income to whatever they want. So if they're making 40,000 and they have an asset sitting here and they tell you, hey, you know, I want to get this X amount out of this money. Then we plug it in and we try to find them the best thing. I think one of the neatest things that I ran into here in the last about eight months year a client came to me was retired nurse and wanted her income higher until she hit the age because she said I've been a nurse all my life. I've seen how people decline. I want to get out and make things happen for the next 15 years. Can I get a higher upfront payment and then have it decrease as I get older? And there's vehicles out there now that do that. So if people say, hey, I call it the go go years, they want to get out there and they want to go travel and they want to go see the world and go visit their grandkids and and you know, buy things, new cars and they want a front loaded income, you can do that and then you can set it to drop a little bit later on when you maybe you're slowing down.
So the annuity piece is a perfect, perfect retirement piece when it comes to income, getting more income, spendable income and.
[00:52:55] Speaker C: That'S the difference and that's the Difference, Steve, between us and other. I mean, I, I can't stress that enough and I love that you said that.
[00:53:02] Speaker F: Right.
[00:53:03] Speaker C: Those of you out there listening, when is a financial advisor ever came to you, right, and found out your goal and not pitched you something that they can grow? Hey, I'm going to grow. I'll make it most money. I do better when you do better. And that's all they ever say, right? It's, it's never about, hey, what do you want to do in the next 15 years?
[00:53:22] Speaker E: Years.
[00:53:22] Speaker C: What do you want to do next year?
[00:53:25] Speaker F: Right.
[00:53:25] Speaker D: Well, the neat, the neat thing is too, David, I know you did this recently as you took somebody's qualified asset, their IRA turned on income because they wanted to buy stocks with that income, right? So why not? You know, hey, they want to be, every month they want to get an income in just to buy stocks. Let's turn that income on from that qualified asset, right?
[00:53:44] Speaker C: And then it gives them money that every year they can play around with and be able to buy whatever they want. The most important thing, though, is being able to diversify the portfolio and plan towards the client's goals. Steve's client was a nurse. She needed, she wanted, not needed, wanted more income up front.
[00:54:03] Speaker F: Okay.
[00:54:03] Speaker C: Steve found that solution for her, right. The entire goal of that would not have been the same thing if she would have walked into a big corporation office. It would have been, we're going to put your portfolio into this model because this is what it states.
Whenever you want money, you can pull it out. If you want an extra 20 grand, you can pull it out when you want it. There would have been no plan, Right. Or portfolio designed for her specifically. There's just not, it doesn't go like that anymore, guys.
And it never did. These advisors never do that, right? So that's where I think we really, we pull out the unique situations that I, I, that I, I have a passion for this because I love, you know, the people that I work with. I love the career that I'm in. I love, you know, being able to help people in retirement and, you know, having a partner like Steve because we really do care about the client and their goal.
[00:54:54] Speaker D: David, David. To brag on you, you love using that math mind to find solutions for a client that makes you happier than I've. I mean, when you're at your happiest is when you're on that grease board at Whiteboard and you're cranking numbers out and you're doing spreadsheets and then you come back to the client and you show them what you found. And not a lot of advisors do that. I'm happy to work with you. I'm telling you, advisors go in, they learn a product, they pitch a product and it stops.
[00:55:21] Speaker C: And to be able to do that, though, Steve, with the client in front of their face, figure out their goals right with them and have that light bulb turn on for them. And for me, it's just another experience. And I think that's why I love the business. And that's why I think for the rest of my life, even if I wanted to retire early, I don't think I could. STEVE I mean, you know, as far as you go, like, you know, you love the business so much you can't get out of the face to face. You love clients, right? I mean, you know, you just got a big promotion, but it doesn't matter. You love to come back. You love to be able to do these things. You stay in touch with clients. You want to be involved in the face to face, helping a client personally. And that's what I, that's what really I think our clients appreciate the most and why we're growing so fast. STEVE.
[00:56:07] Speaker E: All right, well, we are out of time. But before we sign off for this week, a quick reminder. If your current plan feels a little too fragile for today's markets, now's the time to strengthen that plan. Visit retirementplanningpipeline.com retirementplanningpipeline.Com or call 251-236-4371. And a reminder, if you've missed any part of today's show, don't forget to subscribe to the program in podcast form on Apple, Spotify or wherever you get your podcast. Subscribe to the show on YouTube as well. Search Retirement Planning Pipeline on YouTube for clips and special content. Right there for you again, YouTube.com search retirement planning pipeline this is the Retirement Planning Pipeline for David Pipe, Steve Zarek, Jim Tarabokia. Have a great week, everybody.
[00:56:52] Speaker B: Thanks for listening to this week's episode of the Retirement Planning Pipeline Pipeline, the show that helps you take control of your financial future. Whether you're five years from retirement or just getting started. Retirement planning specialists David Pipes and Steve Zarek have the strategies, tools and experience to help you make the most of your nest egg. Take control of your financial future and get started today by visiting retirementplanningpipeline.com and if you missed any part of the show today or want to catch up on on past episodes, be sure to subscribe to the Retirement Planning Pipeline wherever you get your podcasts not affiliated with the United States Government, Amerilife agents do not offer tax, legal or investment advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or specific result. All copyrights and trademarks are the property of their respective owners. Amerilife assumes no responsibility or liability for the content of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness, or the results obtained from the use of this information. Charles David Pipes and Steven Zarek are individually licensed and appointed agents. Learn more at retirementplanningpipeline.com fixed annuities, including.
[00:58:24] Speaker A: Multi year guaranteed rate annuities, are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer not affiliated with the United States Government. The agent does not offer tax, legal or investment advice. Consult with your tax advisor or attorney regarding specific situations. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. This information is intended to be educational in nature and does not provide a guarantee or a specific result. All copyrights and trademarks are the property of their respective owners. Amerilife assumes no responsibility or liability for the content of this message. The information contained herein is provided on an as is basis with no guarantees of completeness, accuracy, usefulness, timeliness, or of the results obtained from the use of this information. Any bonuses mentioned may be subject to additional restrictions and regulations based on the offering Annuity company. You may not receive the bonuses if the contract is fully surrendered or or if traditional annuitization payments are taken. And if the policy is partially surrendered, it could result in a partial loss of bonuses. Because these are bonus annuities, they may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don't offer a bonus feature.
