In this episode, The Annuity Man discussed:
- Everyone goes through cognitive decline
- Considering cognitive strategies
- Transferring risk through annuities
- Why you should plan for cognitive decline
Key Takeaways:
- It doesn’t matter how sharp or healthy you are right now, everyone will go through cognitive decline eventually.
- Start considering cognitive strategies from a turnkey standpoint, whether it's for you, or whether it's for your spouse, or both, especially if you are already in the “slow-go” phase of retirement.
- Annuities are transfer of risk products. They sell for four things, principal protection, income for life, legacy, and long-term care. If you don't need to solve for those contractually, you don't need an annuity.
- We all know somebody who either had a stroke, an accident, or a fall, and suddenly they can’t make those kinds of decisions anymore. It’s a horrible thing to happen to somebody, don’t let it be your horror story. Plan for cognitive decline.
"Protecting the principle is a cognitive strategy. Lifetime Income is the ultimate cognitive strategy. Obviously, long-term care [is a] cognitive strategy." — Stan The Annuity Man
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: Stan@TheAnnuityMan.com
Book: Owner’s Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
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