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
