Mr. FIA-X: The Truth About Fixed Index Annuity Returns

“Fun With Annuities” The Annuity Man Podcast

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

• Questions to ask your annuity agent
• Backtested numbers are garbage
• Index Annuities are not bad products
• When building for accumulation

Key Takeaways:

• Ask what the participation rate is and when it can change. Annuity companies can change the rules, as they need to have some way to protect themselves. It’s important to know those rules. Next, ask the agent to explain the index, what’s in it, and the math behind it.
• You need to know when the index rate went live or when it can be tracked. Everything prior to the live date is BS; your annuity will not function like the back-tested illustration they show you.
• Index annuities hold contractual guarantees too. However, agents make a lot of money from selling index annuities, so some will say anything they need to to get clients to buy.
• If your goal is accumulating wealth, invest in the S&P500, never look at it, and keep contributing.

"[On backtested numbers] You know the old saying ‘past performance is not indicative of current results’. They didn't even have a past performance. It was a made-up performance." — Mr. FIA-X.

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