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!