Episode #10

Bryan Anderson, founder of Annuity Straight Talk, speaks with Ashok Ramji, a financial consultant with TOP Planning LLC, an independent asset protection and retirement income planning firm serving retirees and pre-retirees alike. In this episode, they weigh in on Nationwide’s Peak 10 fixed indexed annuity.

Bryan and Ashok start by sharing why they are including product reviews in the podcast. They highlight 2 things that help the Peak 10 contract stand out, following it up with a disclaimer about trade-offs. They use an illustration to show how the product would work for a single individual.

Bryan and Ashok then explain how powerful the product is in a joint life scenario, bringing up some possible downsides as well in terms of fees and residual values. Bryan also looks back on a newsletter that he wrote about the product.

What You’ll Learn in This Episode:

• [01:55] Annuity contracts issued are based on where they were signed, not necessarily where the client lives
• [04:55] On the “set and forget” strategy
• [08:15] About Nationwide and their Peak 10 fixed indexed annuity
• [09:27] There’s a 10% bonus and you can take paychecks as soon as you put the money in
• [12:08] How the money can grow inside an account with a high-income payout
• [13:40] On the Peak 10’s lifetime income withdrawal rate for single and joint payouts
• [17:52] The trade-offs in order to make the benefits happen
• [19:09]  How the fee for the guaranteed lifetime withdrawal benefit is calculated
• [20:48] What Bryan doesn’t like about the illustration
• [23:50] How Nationwide’s Peak 10 compares to other products

Key quotes:

• “What is most important for you?” ~Ashok
• “It’s nice to see money sitting there, but if you’re in it for lifetime income, then that’s just kind of a side benefit; but really focus on the maximum income.” ~Bryan
• “It’s a great product for immediate income, near-term income…” ~Bryan
• “Our recommendations are going to be rooted in what you are going to do and so, therefore, you might see different recommendations.“ ~Ashok

Links/Resources:

• Nationwide

Call Annuity Straight Talk at 800-438-5121 or schedule a call at AnnuityStraightTalk.com