Jason Fichtner: Understanding a Changing Retirement Landscape (TAM Classic)

IN THIS EPISODE, THE ANNUITY MAN AND JASON FICHTNER DISCUSS:
Preparing for depletion
Preaching to a hurricane
Maximizing returns and minimizing risks
The real danger zone
KEY TAKEAWAYS:
There’s going to be depletion in combined trust funds in 2024. In response to this, you can delay claiming your social security until you absolutely need it, you can also save a little more - do anything to minimize the risk.
People want a personal pension and a guaranteed paycheck for life, but they don’t want an annuity. That’s absurd, because that’s exactly what an annuity is and people have it already in the form of social security, because it’s such a good thing, they would want to have another one.
We’ve trained people to be good investors, in that they must always ask how they can maximize returns. But there is no ROI in retirement, not until you die, so we need to keep talking about how minimizing the risks with annuities is the best way to go.
The danger zone is complacency. We need to keep reframing and educating people on the truth about retirement and finances. People right now are not too crazy for annuities, and that’s not a good thing - because that means that it’s not being represented factually.
"In retirement we're not trying to maximize returns, we're trying to minimize risks - ensure that I have enough income to last for the rest of my life." - Jason Fichtner
The Peak 65 Generation: Creating A New
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FUN WITH ANNUITIES (r)

[@christopherbilkey5237]

I was against buying an annuity. Now thanks to pod casts I just bought one at age 71. This was after I started SS at age 70.

[@funwithannuities]

That’s great to hear! If you have any questions, don’t hesitate to reach out:
www.stantheannuityman.com/book-a-call/

[@dgriffin6074]

Federal Income tax, State income tax, Social Security tax, Sales tax, Property tax, Carpet tacks.....they all hurt.

[@nellaikswokub139]

Ok Stan, when you say you can structure an annuity so a beneficiary gets the balance when you die, what does that mean? Why would someone want to structure it any other way? No one wants to give their money to the insurance company when they die

[@funwithannuities]

Great question! One reason is that they aim to achieve the highest possible monthly premium. If you have any other questions, feel free to reach out:
www.stantheannuityman.com/book-a-call/

[@nellaikswokub139]

Ok, that makes sense I think, just be completely clear about how these things work - so getting a greater monthly payout will result in less money remaining at your actuarial determined date of death and therefore also in the event you die earlier? And also there wouldn’t be a balance for your beneficiaries if you live longer than expected. Do I have that right?
I recently bought MYGAs through you guys to bridge from retirement at age 65 to planned social security withdrawal at age 70 and still wonder if I may be missing an important detail that I might regret. I hope they are as straight forward as they seem, I think so