Do Rich People Buy Annuities? - YouTube

Do rich people buy annuities? Don't we hate the rich people? Are you

rich? I mean, evil? Are you the evil rich? I think we all are kind of, right? When they

start collecting taxes. Do rich people buy annuities? Hmm... Yeah.

Some do. Some don't. It really comes down to if they want to transfer a risk. Now,

the reason a lot of rich people are rich is because they're smart. And smart

people like to transfer risk. And annuities or contracts that allow you to

transfer risk. That doesn't mean that every rich person one-percenter

high-roller dude or dudette out there needs to buy one. But the answer is yes,

they do buy them. And I'll give you some examples during this video of the people

that do and and the types of annuities that they buy. So, hang in there with me.

This will be a fun one because we're going to talk about those evil

one-percenters. And you're probably sitting out there. Some of your going, "I

am the 1%." I like that. You've made it. You've busted. But you've made some money.

And you're doing your little annuity educational research to see if you, yes

you the rich person or you out there that thinks they're not rich but they

are. Do you need an annuity? Let's figure that out. And at the end, the full house

of annuity information... I'm going to send you all the books that I've written, the

annuity owner's manuals at the end of the video. Just hang in there with me.

Let's talk about rich people.

Alright. So, why do rich people do this? Why in the heck would they buy annuities?

Well, rich people like principal protection. Rich people like providing a

legacy to their beneficiaries. Rich people like transferring the risk for

long term care. Rich people like guaranteed income

streams coming in. And rich people like protecting their money from frivolous

lawsuits and creditors. You know what? Not just rich people like that. All the rest

of us like that too. Nod your head. You like that too, okay? But that's why they

buy them. So, one of the things that's interesting. I'll give you an example. One

of the places that I live is in Florida. And another place that I'd spend a lot

of time is in Texas. And both of those states. And there's a lot more but I'm

just giving you those as examples. Both of those in their state law protect

annuity owners from frivolous lawsuits and creditors and things like that. Now,

there's some rules. You can't be a criminal. Make the money then put the

money in the annuity. You can't do that. But what it's for is for the person

that's worked hard. You buy an annuity and then some idiot from left field

Sue's you frivolously for your money. If you have your money in an annuity and an

Non-IRA account, they cannot get to it. And in a lot of the states. So, a lot of the rich

people use annuities to protect themselves in the litigious world that

we live in from those people. But they also buy it for lifetime income streams.

A lot of people are buying annuities for their spouse or their kids or their

grandkids. A lot of people do that. One of the things that I see a lot in in the

state of Florida of state of Texas and also other states as well for rich

people is they like buying the multi-year guarantee annuity because in

a non-IRA account, the interest grows and compounds tax deferred. So, most rich

people in most normal people don't want to pay taxes. If you want to pay more

taxes then pay more taxes. But don't yell at me for not paying more taxes.

Okay, I digress. The point is that's where a lot of them use. And you

say, "Well... Well, Stan. The interest rates are really low and..." Of course they're low.

That mean low compared to what? I mean, right now, the United States still has

the highest interest rates even though Jimmy Carter's not in office and we're

not seeing 8 to 10 percent rates. We might not ever see that again. But rich

people come to me and they say, "You know what? I've got all this money. I don't

want to... You know, I don't want to lose a penny. I don't want to pay any annual

fees. I just want to interest rate and I don't want to pay taxes on the interest."

They say, "Well, Stan. Why wouldn't they buy a CD?" Well CDs are fantastic products.

FDIC-insured, etc. But in a non-IRA account, you have to pay taxes on the

interest annually. Most people that really don't like paying taxes, ie, right

people, they do not want to do that. So that's where the multi-year guarantee

annuities fit. Great story. A guy called me of the day. He was a like a future's

trader or something. And like a corn future's trader. I don't even understand that.

Anyway. Makes a boatload of money. So, he's so

rich. I mean he's multi, multi, multi, multi, multi millionaire. So, why would he buy an

annuity? So, he called me, he goes, "Hey, I do my thing. I'm a corn futures trader. But my

wife could give a rip about corn futures. So, I want to buy an immediate annuity or

deferred income annuity started a future day. So, that income stream is going to be

there when I'm gone. Because she's not going to obviously take over my corn

futures business, trading business." So, here's a guy, ultra rich doesn't need an

annuity. But he was using the transfer risk aspect and the guarantees for his

spouse. And she was very, very happy because all she gave a crap about was

seeing the kids and grandkids. So, you know, the question is a do rich people

buy annuities? Not all of them. But more and more do buy because they understand

that they're contracts, they understand their transfer of risk. They understand

they can protect from creditors in a lot of situations. We would just... I

just had an "Oops!" Sorry about that. So, that's... I mean to me,

that's fits everybody. Not just the rich because everyone needs an income floor.

And everyone needs to transfer risk. And everyone's looking for long-term care

confinement care situations. Everyone wants principal protection.

Everyone doesn't want to pay more taxes. So, everyone is pretty much the same as

those evil rich people. So, stop throwing stuff at their yachts as it comes by. But

that's the answer of the question. Okay, rich people. Future risk people, want

to be rich people, rich people. We made us an end of the video. Now, remember I just

talked about the MYGAs where the evil rich put their money so they don't

have to pay taxes on the interest? They just push the tax puck down the ice. I

did a video on MYGAs --best MYGA rates. we dig into that deeper and by the way, just

fortunately, I've written a book on MYGAs that I'm going to send to you with the

other 6 books. But before you do that, a couple things. Hit the subscribe button

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