In this episode, The Annuity Man discussed:

• Why we should get rid of backtested numbers

• What an index annuity is and isn't

• Don't be the sucker at the table

Key Takeaways:

• Backtested numbers capitalize on some of our most unwanted feelings such as regret and the feeling of missing out. We have to see those as what they really are: backtested numbers are garbage and should be illegal.

• An index annuity is not a market product, and it's not a security. It is a fixed annuity and an efficient delivery system for an income rider guarantee.

• Don't be the sucker at the table. If you get pitched a backtested number plus a "generous" upfront bonus, that's how you know that they're in it to get a commission out of you.

"It could work in your favor, or It might not, but it's not free money. Annuities are for-profit businesses. Don't buy the dream because you're going to own the contractual reality." — Stan The Annuity Man.

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