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Is Tony Robbins RIGHT About Annuities?!
What does Tony Robbins really think about Annuities and is he right? He says that your main objective is to create an income that you can't out-live. Income is the end goal, not saved money. Let's discuss how to solve longevity risk so you don't have to worry during your retirement.
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Пікірлер: 24
This was super helpful
I wish Tony would have clarified that the 7% guaranteed growth is on the income base and not the cash value And that there is a 10 year surrender period before the insurance company starts paying you the 5% payout . Im not saying that it is a bad product but i would only consider it after i delayed social security and i implemented a reverse mortgage. ...... Reverse mortgage because the opportunity cost is cheaper than the annuity .
@DavidMcKnight
Жыл бұрын
Thanks for your comment.
Great video David!!! Let's not forget about our friend the SPIA. Perfect for the guaranteed part of retirement.
@DavidMcKnight
Жыл бұрын
The SPIA can be great! I do talk about some of its drawbacks in Tax-Free Income for Life but it should definitely be in the conversation.
I'm just thankful that other people in the business think like I do...instead of some clown trying to put every client in the same product regardless of age, income and total financial situation
@davidmcknight8201
Жыл бұрын
Right!
@markcobb8253
Жыл бұрын
💯💯💯
Great video. You always are clear and accurate. This product seems similar to IUL. I am not against annuities or IUL if bought from an IRA which will be taxed at ordinary income at some point but I won’t be getting an immediate annuity because I don’t want any more forced income, as I have a pension and inherited IRAs that need to be emptied. As far as deferring, I guess that could work but with 10 year bonds at 4.5% and 20 year zeros at 5%, I am thinking I can get a similar result for my RMDs without turning the money over to an insurance company plus in case of emergency or if I die, the bonds can be sold.
Excellent stuff!
@DavidMcKnight
Жыл бұрын
Thanks Jeff!
Living that bulk of cash with the annuity company: what happens if the person dies 6 months later? does the insurance company keeps that chunk of money he deposited with them? or the beneficiary receives it?
@DavidMcKnight
7 күн бұрын
Depends on the type of annuity. If it’s a SPIA , the money is gone. If it’s any other type of annuity, the beneficiary receives the balance.
@financialstrategist1020
7 күн бұрын
@@DavidMcKnight Got it, thanks. So why would anyone buy a SPIA and not a FIA?
@DavidMcKnight
7 күн бұрын
Because they have higher payouts.
This one was “killer”…….I think I will be using a part of this for a video next week. Thank you
@DavidMcKnight
Жыл бұрын
You’re welcome!
Thank you. Great content. I thought Tony Robbins book “Money- master the game” was excellent. Along of course with other excellent books by owner of this channel like The power of zero and Tax-free income for life
@DavidMcKnight
Жыл бұрын
Thanks Dimitry!
This is a great video. I would like to know if you are open to becoming a guest speaker at a client appreciation day. How can I contact you directly for more details. Thank you in advance for your time and support
@DavidMcKnight
Жыл бұрын
Email Kelsey@powerofzero.com to check availability. Thanks!
Al always great content that everyone needs to listen to!
@davidmcknight8201
Жыл бұрын
Thanks Alan!