Do Annuity Owner’s Live Longer?
I made this comment in a podcast over a year ago and of course someone challenged me on it. People with guaranteed lifetime income live longer and it makes a lot of sense when you go through the reasons. The comment said something like, “I’d like to see your source for such a claim.” At the time I believe the IRS published a study on it no doubt to highlight the benefits of the social security system. Now it’s harder to find but the Wall Street Journal published a study years ago that is often cited but hard to find. Regardless I’ll stand by the claim and provide some quick reasoning but I’d rather relate this to a more personal story.
I thought about this a lot when I was recently in Alaska, remembering old experiences and gaining new ones. It made me appreciate the quality of life I’ve had and very grateful for a successful career in an industry with a low survival rate. Reduced stress because of consistent income and not worrying about market fluctuations, not to mention the simplicity of direct payments later in life when you probably won’t feel like making major financial decisions. Annuities make retirement easier without a doubt and I’ve shown many examples of them making things more profitable too. Streamlined finances and increased portfolio growth sure seem to be critical components of an enjoyable retirement.
This doesn’t mean you have to use an annuity and it’s not a suggestion to do so either. However you decide to structure your retirement, I hope it leads to a quality of life that you dreamed about during the long hard years it takes to get there. I’m lucky to be living it along the way and I credit that to the way I started and the things the men in my life taught me from an early age. I got a job guiding fishing trips in Alaska when I was 21 years old. At a relatively young age I was trusted with the safety of novices in some pretty remote and wild country. I would not have been confident enough to do it without having handled some serious outdoor situations well before that.
The people I guided were incredibly successful people and I learned a lot from them. There was only one minor mishap when I hit a rock in the middle of the river going wide open downstream in a jet boat. Nobody was happy about it but we were fortunate to get out of it with only some minor bruises. Other than that I spent long hours and full summers exploring some truly amazing places that most don’t ever see. Although I knew it wasn’t true, I often felt like I was seeing something no one else had ever seen. It fed a desire inside me to be different and always chase uncommon things.
If any of you have ever been to Alaska you know that it’s just a bigger experience. Tourism is big business there just like it is where I live in Montana. Tour buses and travel guides take you to the same spots and it’s all beautiful but I was fortunate enough to see what only a fraction of others see in both places. Watching successful people enjoy these things in Alaska gave me the motivation to pursue a career where I could keep doing it. I don’t spend much money doing it for the most part because of the lifestyle I have and the knowledge from doing it for so long. All those years a seed was unknowingly planted and I only realized it when I got back from an incredible trip.
Grizzly bears are on the endangered species list in the lower 48 but are seriously overpopulated in many areas of Alaska. Hunting one was always on my list of things to do but for the most part it felt like an unattainable goal. Some good friends had a contact that indicated last summer that it was well within reach. I booked the hunt and waited anxiously for about 14 months. During my summers guiding up there we saw bears all the time and I didn’t think it would be all that challenging but boy was I wrong. Those bears are very intelligent and always seemed to show up right after we left. It was a little creepy because it made me feel like they were watching us the whole time. Consistently crossing in front of our trail cameras so soon after we left would have to be one hell of a coincidence.
I was presented with the perfect opportunity on the third night. The first thing I thought was that I was so glad I didn’t have to spend all night out in the woods. The two prior nights we were out until very late and one night we didn’t get home until 8 am. My internal clock was really messed up. For anyone who doesn’t have the stomach for this kind of thing let me try to put your mind at ease. The end for the bear was as humane as possible. I have good gear and lots of experience with these things. We also used every part of it and I even had some bear meatloaf that wasn’t too bad. I consider it a good deed for overall wildlife management in Alaska and will never know how many baby moose I saved but probably several.
The final experience was surreal, almost as if it didn’t happen. It took some time to soak in but Alaska delivered on years of fantastic experiences with the latest being the best. I got to see a new part of the state and meet some legendary Alaskans who have more stories than time. New relationships with such wonderful people fill my cup even more. John Balmer picked me up from the airport and it all hit me when I saw him. I just got to do what I had dreamed of doing for 25 years, what I had helped so many other people realize all that time ago. It was the single biggest justification for working so dang hard in this career and being patient when the prospects were dim. I hope you all understand what it took and that I truly want it to benefit you no matter what it means for me.
A successful retirement or grand adventure takes the right kind of tools and gear. Nobody gets it right the first time without a guide. Just about everyone on their own will bring too much or not enough. The result is a less than optimal outcome. With the trip of a lifetime there may be another chance but you only get one shot at retirement. No one should buy an annuity just so they can live longer. It’s just a fun fact so don’t get too bent out of shape if you don’t think it’s true. Length of life may not be important to everyone but quality of life should be. I get inspiration from many of you and I hope you can get something from me. I want to hear your stories and I’ll keep sharing mine. It’s summer in Montana so there is definitely something good coming.
Have a great weekend!
Bryan
Watch Episode 182: Do Annuity Owners Live Longer?
Last Updated on June 19, 2025 by Bryan Anderson
