069 Mr. FIA-X: More Index Annuity Secrets

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man and FIA-X discuss:

• Upfront bonuses on annuity and other bonuses to be wary of
• Looking for contractual guarantees in annuity contracts
• Uncapped products and other “modifiers”
• Monthly sum - what they’re actually saying

Key Takeaways:

• Buying an annuity for the upfront bonuses is like buying a car to get the stereo
• Stay smart out there. Companies are never a charity unless they state it, you’re never going to get free money. When someone is selling something for free, or saying they’ll give you money, be wary of that person.
• There’s no way you’ll find an uncapped product with 100% participation rate with no fees, where you put your money in them and just let it run. There is always a catch.
• Think about the downside. In a monthly sum, the downside is unlimited. They make it pretty, but you need to think about the facts.

"Think about a magician… with sleight of hand, they distract you while they’re pulling your watch off. That’s exactly what bonuses are that they wiggle for you to miss the other things" — FIA-X

 

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