Second Opinion on Annuities
One service I offer is to evaluate an annuity you already own or are considering purchasing. Just because I won’t make any money is no reason for me to deny the opportunity to help. This whole business is a service and I don’t get paid for about 90% of the work I do. There are opportunities for me everywhere so I am very generous with my time. If you ask me to do this then you must understand that I need to limit how much time I spend doing it. So I made this list of things to consider for anyone who wants a second opinion before making a commitment.
When you make an appointment with me, you get a chance to write down some notes that let me know ahead of time what you want to talk about. Probably half the people that make appointments either have an annuity they don’t understand or have been pitched a contract and want a second opinion. I’ve consistently demonstrated the fact that most advisors don’t conduct deep research in the market so just about all of these people have only seen one thing. If you base your opinion about annuities on a single product then someone didn’t do his/her job.
An annuity is meant to alleviate your concerns.
Advisors and consumers alike come to me for advice. It is certainly not because I’m the only one who knows these things but I do approach it like nobody else does. I take what I know about the entire industry and compress it down into one simple question: What are you trying to do? Some want to get out of an annuity while others are trying to decide if they should get into one.
We can certainly divide the group into those who have an annuity and those who don’t. Many people who already have an annuity don’t understand it and anyone looking for an annuity wants to avoid the same fate. It’s not as hard as everyone thinks and I started this website to help. This newsletter and podcast are a marketing tool but more than anything are a way to compress my time. I don’t have time to talk to everyone but I can help everyone. First you have to be able to help yourself. Keep reading and ask yourself the questions below…
Whether you own it or are thinking about buying it…
- Do you understand the contract?
- Do you believe the contract will help you meet your goals?
- Is there mutual respect and trust between you and the person you’re working with?
If you understand the contract, know it will meet your goals and like the person who showed it to you, then why are you asking me? Sure I might have a better idea or something I like more but that doesn’t mean you have to take my word. In fact, in most of the situations where I have proposed something that I thought to be a better idea, the person I’m talking to didn’t take my recommendation. When I give you a solid reason why you shouldn’t buy something, don’t complain to me when it doesn’t work out. That has happened to me a lot.
I’m never going to lie to you. If a contract works for you then you don’t need my advice. If I tell you it doesn’t then you should listen to me. I’m not here to make a dollar off of everyone that comes looking for information. Most people I meet know next to nothing about annuities, and that includes those who already own one. You should almost never surrender a contract early and if you have doubts about one you are ready to buy. If anyone tells you otherwise you should give me a call. Chances are I’ll tell you just what is written above.
Call or email any time…
Bryan
Watch the Second Opinion on Annuities Episode
What You’ll Learn From This Episode:
[3:44] Changing your perspective and opinions on annuities.
[4:40] Half of the people who make appointments either have an annuity that they don’t understand or want a second opinion about their contract.
[5:21] Is the marketing organization telling you this is what they want to sell?
[5:58] An annuity is meant to alleviate concerns.
[6:41] When we’re building a retirement plan, we are cultivating relationships and discovering some things.
[9:00] Three questions that you should ask yourself before dealing with annuities.
Key Quotes:
“If you base your opinion about annuities on a single product, then you’re dealing with someone who doesn’t do his or her job.”
Resources:
Second Opinion On Annuities Newsletter
Last Updated on October 22, 2023 by Bryan Anderson
Again, another informative podcast.
I appreciate every posting you provide and have learned to look a little deeper before committing to purchase. Question: Almost bought Allianz 222 and a little later Athene Agility7 and performance elite 7 the last 6 weeks. I have held off and instead purchased 3 month and 6 month Cd’s thinking the above annuities may lower next years %’s, therefore CD’s may generate more income. Any insight to what I am doing?
Thanks, Ed