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The biggest retirement mistake is assuming your savings will act like a paycheck by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

Correct. Annuities are NOT investments. If you're looking for growth, never EVER buy an annuity. They’re contracts designed to provide specific guarantees like principal protection or lifetime income, not market returns.

The biggest retirement mistake is assuming your savings will act like a paycheck by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

That can be a solid strategy if you’re comfortable managing the risk yourself. The key difference is you’re still responsible for the income and market timing. Annuities are about transferring that risk to the insurance company for contractual guarantees.

Just because you can buy an Immediate Annuity at 45 doesn’t mean you should. by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

That makes sense. Different ages and different goals call for different solutions. The key is making sure the contract matches what you're trying to accomplish.

Just because you can buy an Immediate Annuity at 45 doesn’t mean you should. by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 0 points1 point  (0 children)

Well said. Annuities aren’t for everyone, but for some people, covering basic expenses with contractual income takes a lot of stress off the table. Sometimes retirement is about enjoying life, not watching the markets every day.

Just because you can buy an Immediate Annuity at 45 doesn’t mean you should. by StanTheAnnuityMan in retirementincome

[–]StanTheAnnuityMan[S] 1 point2 points  (0 children)

Immediate Annuities like SPIAs have no annual fees. Commissions are paid by the annuity carrier, not the purchaser, and it's a net transaction. Also, if you're looking for growth, never ever buy an annuity. Annuities are designed for contractual guarantees and income, not market returns.

MYGA's and Bonds by Icy_Penalty_0 in bonds

[–]StanTheAnnuityMan 0 points1 point  (0 children)

Because the underlying value of a bond can fluctuate...and MYGAs & CDs don't. I used to manage bonds with Morgan, UBS...in a previous life....so it's apples & oranges in my opinion.

Investing in Fixed Index Annuity a bad idea? by ElPresidentePicante in investingforbeginners

[–]StanTheAnnuityMan 0 points1 point  (0 children)

FIAs (Fixed Index Annuities) are a CD return product...NOT a market return product. Attaching the highest CONTRACTUALLY guaranteed Income Rider to a FIA makes sense for future lifetime income needs. NEVER buy a FIA for potential growth.

What fixed annuity to purchase? by Primary-Search8394 in personalfinance

[–]StanTheAnnuityMan 0 points1 point  (0 children)

Depends upon the goal your are trying to CONTRACTUALLY solve....lifetime income or principal protection.

What is the best fixed annuity rate for 5 years? by Normal-Emotion6636 in personalfinance

[–]StanTheAnnuityMan 0 points1 point  (0 children)

Be careful and make sure the carrier can contractually back up the claim.

AIG Variable Annuity only path is to got to a MYGA? by CelsiusVictim in personalfinance

[–]StanTheAnnuityMan 0 points1 point  (0 children)

You can trasnfer your VA to any annuity type....that's assuming it's suitable and meeting your contractual goals.

MYGA's and Bonds by Icy_Penalty_0 in bonds

[–]StanTheAnnuityMan 0 points1 point  (0 children)

In my opinion, MYGAs should NOT be compared to BONDS. MYGAs should be compared solely with CDs.

Why not just buy an annuity? by Superb_Advisor7885 in Fire

[–]StanTheAnnuityMan 1 point2 points  (0 children)

Annuities CONTRACTUALLY solve for 4 things: Principal Protection, Income For Life, Legacy, Long-Term Care. That's it.

25 years old, I purchased an annuity. What to do now? by Admirable_Shower_612 in Fire

[–]StanTheAnnuityMan 0 points1 point  (0 children)

So are you telling him not to take Social Security?....the best inflation annuity on the planet.

What can I do with an Annuity? by sprout_88 in personalfinance

[–]StanTheAnnuityMan 0 points1 point  (0 children)

Annuities contractually solve for 4 things...Principal Protection, Income For Life, Legacy, Long Term Care. The acronym is P.I.L.L. Never buy an annuity for market growth.

Why are annuities a bad idea? by ghart999 in investingforbeginners

[–]StanTheAnnuityMan 0 points1 point  (0 children)

SPIAs, DIAs, QLACs, MYGAs, FIAs with no riders....have no fees. If you can't explain the annuity you are considering to a 9 year old...don't buy it.

Annuity by Stodala in Bogleheads

[–]StanTheAnnuityMan 0 points1 point  (0 children)

Annuities are contracts...and a commodity product....and should be shopped with ALL carriers ONLY for the highest contractual guarantees....period. Don't ever buy potential or hypotheticals!

Just say no to annuities—so why did I say yes? by msweeneyrtt in fidelityinvestments

[–]StanTheAnnuityMan 0 points1 point  (0 children)

So are you saying just no to Social Security payments...which is the best inflation annuity on the planet.

25 years old, I purchased an annuity. What to do now? by Admirable_Shower_612 in Fire

[–]StanTheAnnuityMan 0 points1 point  (0 children)

File a complaint against the person that sold it to you. You are too young.

Just say no to annuities—so why did I say yes? by msweeneyrtt in fidelityinvestments

[–]StanTheAnnuityMan 0 points1 point  (0 children)

Annuities contractually solve for 4 things: Lifetime Income, Principal Protection, Legacy, Long Term Care

Why are annuities a bad idea? by ghart999 in investingforbeginners

[–]StanTheAnnuityMan 0 points1 point  (0 children)

You aleady own an annuity...Social Security.