Why I Like Annuities
There may seem to be an obvious explanation but then again maybe not. It’s not at all because of how much money can be made, although more than one person has declined to do business with me simply because each thought I would be making too much money on the deal. Being able to make a living justifies the effort but the reason I like annuities goes much deeper.
Many of you know I went on an elk hunt a couple weeks ago. It’s been quite a while since I really took a break and this is the time of year I like the most. Getting the mules out on the trail and exploring a beautiful and remote part of this state is about my favorite thing to do. If I can fill the freezer it’s all the better. My wife lives on organic food and there’s nothing cleaner than grass-fed elk meat from the Rocky Mountains. Annual success gives me all the hall passes I could ever want.
It can be hard to leave for extended periods of time because this business is a one-man show. Nothing gets done when I’m not here so most of the time I take a vacation, the computer comes with me and I leave my calendar open and keep working. But that’s not possible with elk hunting when I need to stay out of sight, downwind and quiet at all times. Talking on the phone is forbidden.
If you are ever able to get deep into the mountains and high in elevation you’ll often find a pretty decent cell signal in some of the more isolated areas of the country. Each morning we would start the climb out of camp and after the first 1000 feet of elevation I’d be able to check my email as the sun came up. Then the phone would be turned off and I’d check it one more time before dropping back down to camp for the night.
If anyone needed something I’d be able to quickly answer questions or just let them know I’d take care of it in a few days. Aside from those emails and a few text messages I was cut-off from the outside world. I watched no TV and read no news. When we got out of the woods I learned that I had been gone at a pretty good time. The DC soap opera was running hot and economic indicators had continued to trend toward the negative.
None of that mattered and that’s why I like annuities. In spite of all the accusations, finger pointing and negative reports not a single one of my clients was negatively affected. While I was never as available as usual, nobody was in a worse position than before I left. Monthly income payments continued to flow and account balances were protected regardless of all the noise and drama.
Isn’t that more or less what you all want? There are all sorts of ways to use annuities and the greatest benefit is that annuities are probably the most consistent asset available. I’ve not seen even one fail to deliver on a promise, no matter how bad things may seem. Annuities do what they are supposed to do so I and my clients don’t have to talk about the negative. We talk about why we are both glad they don’t have to worry about the same issues as lots of other people.
I like annuities because my business is protected just like a client’s portfolio. In turn I get to spend more time testing creative strategies to find ways of getting more yield. I like annuities because I spend zero time putting out fires. It’s a much more positive experience and in my opinion leads to greater health and happiness. Whether that works for you is a personal decision.
As you all continue to search for the right approach to retirement, always keep in mind the most important benefit of annuities. Regardless of politics or economics, annuities are safe and allow you to focus on your passions and hobbies in retirement. Contract details and all options aside, consider what you’d rather spend your time doing. Those who don’t care for financial stress might find the annuity to be a pretty reasonable choice.
Enjoy the rest of your weekend…