Retirement Calculator | How Long Will 1 Million Dollars Last? - YouTube

Hi there! Stan The Annuity Man. America's Annuity Agent, license in all 50 states

including yours. We're talking about retirement calculators.

This isn't a retirement calculator, producer. It's just a big darn calculator.

A BDC as they say. But i'm doing that to let you know that you need to look at

annuities. You need to look at contractual

guarantees, what you need for your specific situation.

We're going to go through all of that. We're also going to answer the question,

the burning question is "How long will a million dollars last

for retirement?" There's no good answer to that. But I'm

going to go into the details. As I say to everyone,

"There's no good answers, just bad sales pitches." And I don't do bad sales

pitches. But we're going to talk about a million

dollars. And if you have a million dollars, what that means

it might be enough, it might not be enough depending on your lifestyle. But

let's listen to the music first.

So, when it comes to a million dollars, it's not what it used to be, right?

Think about it. I come from rural North Carolina

where if you said a million dollars you could have said spaceship. But it made

more sense to me and my family. Still doesn't make a

lot of sense to my relatives and my mom and the

million dollars. But a million dollars, is

that enough to live on? I don't know. I mean that

the easy math is if you have 20 years of life expectancy you divide 20 into a

million and that's 50,000. Can you live off 50,000 a year

for 20 years with no interest? Blah, blah, blah. You could do it that statically.

But a lot of people want to have their cake and eat it too and a lot of people

buy products under the premise of having their cake

and eat it too which is unfortunate. Which means that

hey, you can get this income stream and at the very end you're going to have the

same amount of money even though you got the lifetime income

stream. That's called a bad sales pitch. That's called buying the sizzle not the

stake. If it sounds too good to be true, it is every single time.

Especially in the annuity world. But in the investment world in general,

so as a million dollars or half a million dollars or whatever your amount

is, is that enough? It really comes down to lifestyle. It

really comes down to what you want your income floor to be.

So, if you look at your income floor and the income floor is not some wood floor...

Even though my wife would like that. Income floor is the guaranteed

income stream that comes into your account every single month. Social

security, if you're so fortunate to have a pension.

You know, if you have dividend stocks or something like that, rental income,

whatever's coming in, then you need to determine what gap is

missing. If there's no gap missing, you can just live off that and you live

the lifestyle you want to live, fine. But most people and with 10,000 baby

boomers hitting retirement age every single day,

the biggest question that we're getting is about income, about lifetime

income. Annuities are the only product on the planet that can provide a lifetime

income that will pay you regardless of how long you live. The fact

that you don't know that is one of the biggest marketing blunders

of all time that the annuity industry just hadn't pounded into the floor. I

mean, you already own the best inflation annuity on the planet. That's social

security. If you own a pension, that's a great

annuity as well. Both of those pay for life.

You don't know the ROI until you die, return on investment. And you don't care

because all you want is income. So, when you're looking at the million dollar

lump sum or the half million dollar lump sum or the quarter million dollar lump

sum, whatever that lump sum is to you and you need income, then you need to

shop specific from a calculator standpoint.

Every single site seems to have one. And some have calculators and available

calculators that are so complex and you can quote so

many things. But as i say to people all the time,

annuities are kind of like the unknown. Most people just say i hate annuities

which is crazy because that means you hate social security.

But you don't know what you don't know. Meaning that

do you know the 40 ways to structure a single premium immediate annuity or 30?

Whatever you want to, 30 to 40? I mean, you can structure a myriad of ways.

Do you know those? Do you understand those? I hope not because I hope you have

a life. That's what... That's what I'm here for. I'm

here to explain those structures and how they work and

the good and the bad and the limitations. That's the reason we need to connect

one-on-one. Go to the annuityman.com and set a time with me.

You'll get me not some little underling. You'll get me. Not some agent farmed out

from Pakipski. You'll get me one-on-one. You need an expert at the

finish line. When you're talking about quarter million, million, half a million

dollars, you're just going to talk to the next 20

something year old on the phone and say, "What have you got?" Give me a break. You

don't do that when you go to the doctor. You like to go to the doctor. I mean, you

go to the mayor or you go to somewhere for a specific situation that's

big time. And I'm assuming a million dollars is big time to you. It should be.

You know, we need to have that conversation. Remember, you have 2

questions to ask --What do you want the money to contractually do

and when you want those contractual guarantees to happen? From those 2

answers, then I can determine what type of

annuity fits best. And then we go shop all carriers for the

highest contractual guarantee for your specific situation. Hey, just

remember with all lifetime income with annuities, it's all about life expectancy.

Life expectancy drives the train. It's the primary pricing mechanism

to lifetime income. Meaning that the older you are, the higher the payment.

It's just like social security. So, people are always trying to time

annuities and say is it the right time. You know, interest rates are low. Interest

rates play a secondary role to the annuity pricing process for lifetime

income. Now, yes if Jimmy Carter rates were here and they were

sky high, it'd be... It would be a higher amount for you. But that's not

going to happen. Doesn't look like it's going to happen for a long time.

So, it's all about life expectancy. And you cannot time it.

You just can't. Don't try. Got a call the other day guy said, "Hey, I want to buy an

immediate annuity but I think rates are low so i'm going to wait 5 years." And

I said, "That's fine. You can do what you want.

But if you wait the 5 years then you have to factor in the payments that you

missed during those 5 years and how long

it's going to take you to make those up after you turn on the income stream in

5 years." In other words, it's math. And you're not

going to beat the annuity company at their own gain,

period. Don't try. I got a question the other day, "What's the average

amount that a retiree spends during retirement?"

I thought that was the broadest... I mean. That is a broad answer. If you're living

in Manhattan it's different than if you're living in

St. Augustine, Florida. It's completely different. Because the

lifestyle is different, the rent's different, the cost of living

is different. So, it really comes down to your lifestyle and the amount

that you feel comfortable spending. Now, one thing that always comes up when I

have these conversations about using retirement calculators,

how to use retirement calculators and when we run quotes for you. We'll run

quotes showing cost of living

adjustment increases for inflation, etc. The one thing

you'll find we do that is that the annuity company does not give that away.

Any agent or advisor that says that they have the annuity product or product in

general that adjust for inflation perfectly,

they're lying to you or they just don't know or they're just trying to sell

something. There's no product like that. If there

was a product like that, then all of my videos would be

on that product. Annuity companies don't give that away.

Visually, here's the annuity without a cost of living adjustment rider.

Visually, hears the same annuity with. So, all the annuity companies do is they

lower the initial payout when you attach a cost of living type increase to the

income stream. It's common sense. Now, social security, the reason I say

that's the best inflation annuity on the planet because it is. Because

politicians they just vote for that increase. And then they just print more

money and send it to you. Annuity companies don't do that. They

they look at your life expectancy. If you want the increase, then they are

going to lower that payment. Doesn't mean you don't buy one but it

means that you have to understand that if it sounds too good to be true, it

is. Same thing for people that are pitching index annuities that have index

increases that will increase your your income stream. They do the same

thing. They lower the initial payment to make up for that

potential increase to your income stream. So, what does a retiree spend?

How do you coordinate the annuity purchase based upon what the average

return? You don't because you're not average. It's all about you.

Forget everybody else. Forget the stats, forget the articles,

forget everything. You know, from the calculator standpoint, I want you to go

to our site and use the calculator at the annuityman.com.

But as a inroad to us having a conversation. Because

our calculator is in my opinion the best one out there. But it doesn't let you go

100,000 different quotes because you'd just be all over the board.

You don't know. You know, I need to get from you during

our conversation. What are you trying to achieve? Tell me about the family. Tell me

about the spouse and partner. Tell me about the other investments. Tell me

about where you live. Tell me about what you're trying to do.

Tell me about the lifestyle you want to live. Tell me about the income stream

goals. Tell me about that. Everybody's different.

Nobody. No case is the same every time with me. And I've got thousands of

clients in all 50 states. America's Annuity Agent. You've got to...

You've got to break it down confidentially to me and let me put

together a customized plan using our retirement calculators. So,

retirement calculators as a whole, they're great. They're on every site.

Everybody seems to have one. You know, everyone's got their formula.

But understand there is no formula when you're customizing something. There is no

formula when you're trying to achieve a specific goal

like for you. So, just remember that. So, remember,

big darn calculator, BDC. Retirement calculators. Everybody has one.

It's great. It's a good starting point. Use them all. But understand at the end

of the day, it's a customized quote. And buy the steak. Not the steakhouse. Buy the

contractual guarantees. Don't buy the sizzle, buy the stake.

Because you're going to own the contractual realities. Don't buy the

dream. And go to my site to use our retirement

calculators, our annuity calculators for all types. And I hope to speak with you

one-on-one just schedule call. Also too, sign up for me to ship you my books. I

have 6 owner's manuals on all annuity types. I'll ship you for free under no

obligation. They'll come in to you in the mail in this really neat

gold foil bubble mailer. You'll be the talk of the street.

But it'll start you in the process of understanding how these products work.

So, click the subscribe button and i'll see you on the next

Stan The Annuity Man video.