In this episode, The Annuity Man and Mr. FIA-X discuss:

• Annuity companies do not give free money
• Ways to know if you're dealing with a qualified advisor
• Sales pitches that you should watch out for
• Buying a product that you understand

Key Takeaways:

• Upfront bonuses are candy for the stupid. There are no philanthropists in annuity offices giving out free money to clients. They'll chip away at you in different ways to recoup those dollars. They haven't been around for hundreds of years because they gave money away.
• If your advisor says "guarantee your principal" and "rider" in the same sentence, that disqualifies them. They are not capable or qualified to be your advisor.
• Hypotheticals are hypotheticals for a reason. Zero is not your hero. There's no such thing as a hybrid annuity. When given a participation rate, ask the advisor what you're participating in.
• Do not buy a product if you don't understand it, and definitely don't buy it when you can see that even the agent doesn't understand it. Simple is always better.

"I think simple is better, I also think they need to be careful when they explain all these wonderful things that the annuity can do. Just because they can do these wonderful things doesn't mean there's not a cost for it. You're paying for it somewhere. If it does this wonderful thing, it means you have something less wonderful somewhere else for them to afford that one wonderful thing." — Mr. FIA-X

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