That Annuity Show

22/03/2024

Jason Fichtner, Ph.D., Chief Economist, Bipartisan Policy Center & Executive Director, Retirement Income Institute, Alliance for Lifetime Income joins us today to talk to us about his latest paper. Jason recently released the 2024 edition of “The Peak 65® Zone Is Here – Creating A New Framework For America’s Retirement Security". On our show, Jason Fichtner discusses this paper, the retirement income challenge, and the need for protected income strategies.

He highlights the Peak 65 moment and the retirement challenges faced by the baby boomer generation. Fichtner emphasizes the transition from defined benefit to defined contribution plans and the importance of optimizing Social Security benefits. He also discusses the use of bridge annuities to convert retirement assets into a stream of income. The role of the workplace in retirement planning and the need for prescriptive advice are also discussed.

The conversation explores the need for protected income products in defined contribution plans and the role of defaults in retirement planning. It also discusses the importance of educational tools and calculators for retirement planning and the impact of narrative framing and behavioral elements in retirement decision-making. The narrative on retirement income strategies is changing, and there is a need to expand the message and address retirement security for multiple generations.

Listen here: https://nfg.link/496mG8g

15/03/2024

In this episode, David E. Czerniecki, CFA, Chief Investment Officer for Nassau Financial Group, discusses various economic topics, including China's economic slowdown, energy prices, inflation, and global conflicts. They explore the implications of these issues on the global economy and provide insights into potential future developments.

Takeaways:
- China's economic slowdown has implications for the equity markets, interest rates, and global growth.
- Energy prices have remained stable despite conflicts and disruptions in shipping lanes.
- Achieving the target inflation rate of 2% has been challenging due to sticky prices in the services sector.
- Global conflicts, while tragic, have had a muted economic impact so far.

Chapters: 00:00 Introduction
01:05 China's Economic Slowdown
09:01 Inflation
14:06 Global Conflicts

Listen and join the conversation: https://nfg.link/3VhILgQ

08/03/2024

Ron Gura, the co-founder and CEO of Empathy joins us today on our show. Empathy aims to provide support and guidance to individuals who have lost a loved one, helping them navigate the administrative and emotional aspects of the process. He shares his personal journey and the inspiration behind starting Empathy.

The conversation delves into the workflow and touchpoints of Empathy's services, the co-branded experience for carriers and producers, and the impact of Empathy's services on claimants. The episode concludes with a discussion on breaking the taboo around death and the value of experience over product in the insurance industry.

Listen and learn more: https://thatannuityshow.com/episodes/learning-about-empathy-with-ron-gura

22/12/2023

We can’t believe we’re near the end of the fourth quarter already. Today we sit down with David Czerniecki, Chief Investment Officer for Nassau Financial Group. We cover interest rates, geopolitics, inflation, and AI.

Interested in learning more? https://www.thatannuityshow.com

15/12/2023

It's hard to escape a news show, magazine, or newspaper without reading about AI. How will it affect our business? That's what we explored today with David Macchia, CEO and Founder of Wealth2K.

Listen to the full episode: https://nassaure.libsyn.com/204-the-not-so-mortal-threat-to-advisors-with-david-macchia

Learn more about David: https://www.wealth2k.com

Gain additional industry insight: https://thatannuityshow.com/episodes

04/08/2023

In the retirement industry, we're living through a lot of change. Who could be better to help us put the challenges in perspective than Jim Kerley, Managing Partner at Clearview Partners. Jim has played a leading role at startups, at carriers, and at industry associations over the years. Listen today to get great insight into what might happen next.

23/06/2023

The insurance industry has a tortured relationship with leads - we desperately need them but seem to rarely like what we receive. Maybe the problem isn't really about the lead, but rather about understanding the actual intent of the prospect. Today, Jay Wolff, Chief Revenue Officer of Kerv.AI talks about his company's solution to the problems that apply AI and dynamic QR codes to video on television and on the web to collapse our sales funnel and potentially change our conversion economics.

Listen to the full episode: https://thatannuityshow.com/2023/06/23/195-using-ai-qr-codes-to-collapse-lead-funnels-with-jay-wolff/

09/06/2023

We invite you to tune into our latest episode as David Czerniecki, Chief Investment Officer of Nassau Financial Group joins us again this quarter to provide his assessment of market trends and the overall economic outlook.


🎧: https://thatannuityshow.com/episodes/

02/06/2023

Two weeks ago, the Alliance for Lifetime Income held a summit in Washington D.C. for its members. Ramsey Smith and our guest today, David Macchia participated in the panel discussions. They give us a recap of the event and the insights they gleaned from the two days there.

🎧 Full episode: https://thatannuityshow.com/episodes/

24/04/2023

4 Reasons for a Retirement Hardship Withdrawal on U.S. News and World Report

“First of all, you’ll pay an effectively huge fee to tap into your account – usually 10% plus federal and state taxes,” says Paul Tyler, chief marketing officer of Nassau Financial Group in Hartford, Connecticut. “Second, you’ll lose the long-term compounding effect of every dollar you pull out of your account.”

For example, take a retirement savings account that grows at a modest 6% over a 20-year period. “Withdrawing even $100 is really like taking over $320 from your future self,” Tyler says.

Before you raid your 401(k) or IRA, learn the realities – and benefits – of taking a retirement plan hardship loan.

17/04/2023

Annuity Issuers Vie for Shelf Space as Small Distributors Are Rolled Up By Warren S. Hersch as seen on Life Annuity Specialist

[That has pushed issuers to make it easier for distributors to do business with them, said Scott Hawkins, head of insurance research at the global investment management firm Conning, who spoke at a retirement technology forum on Monday.

They must be able to serve increasingly larger distributors efficiently while continuing to cater to the many smaller firms.

“This means their wholesaling operations have to be top-notch,” he said, adding the carriers must establish relationships with independent marketing organizations that can effectively manage relationships amid the ongoing consolidation.

The Monday event, hosted by Nassau Financial, was held at the Applied Innovation Exchange offices of Capgemini, an information technology services and consulting firm.]

Read more:

Annuity issuers are operating in an increasingly concentrated marketplace, but also one where the ranks of the top sellers have been fluid recently.

14/04/2023

Returning guest Barbara Matthews, Founder and CEO of BCMStrategy, Inc. joins us for a timely discussion of the public financial policy and the ability of machine learning to separate signal from noise. We cover cryptocurrency intermediation, SVB, interest rates, COVID subsidies, and the early insight that her machine-learning model provides.

Links mentioned in the show:

https://www.linkedin.com/in/barbaracmatthews/

https://measuringpolicyvolatility.substack.com/

https://www.bcmstrategy2.com/

12/04/2023

How Much Should You Have in Retirement Savings at 65? by Gabriella Olay, featuring Paul Tyler on GoBankingRates

[Paul Tyler of Nassau Financial Group in Hartford, Connecticut, notes that calculating your ideal retirement savings amount can be quite complex.

“You first need a very clear-eyed view of your income and expenses in retirement,” he said.

Income includes Social Security, pensions, annuities and other sources of income, such as rental property. Expenses should include day-to-day expenses, healthcare costs and some financial cushion for unexpected expenses.

Once you know these numbers, use the “4% drawdown rule” to calculate the savings needed, Waggoner said.

“This is one of the oldest ‘rules’ in retirement planning,” he said. “The 4% drawdown rule states that you should be able to take 4% from your investments annually without touching your principal. This approximation is based on the historical 4% to 5% average growth rate that most financial advisors use to gauge growth in retirement investments.”]

Learn more:

At age 65, you may be retired or preparing to retire soon. It’s an age when you may be concerned about the size of your retirement nest egg.

10/04/2023

What Gen X Women Need To Know To Get Ready for Retirement by Gabrielle Olya, featuring Paul Tyler in GOBankingRates

“Women in particular need to recognize they will likely outlive their spouse or partner, and actively plan to build predictable income for later in retirement,” he said, “whether through an IRA, 401(k) or annuity.”

Read the full article:

Take the time to plan when you’ll collect Social Security.

31/03/2023

Volatility seems to be the word of the day. Volatility in fuel prices. Volatility in the market. And of course, volatility in interest rates. David E. Czerniecki, CFA, the Chief Investment Officer of Nassau Financial Group joins our show today. He discusses current events and explains the difference in risk profiles between banks and insurance companies.

Full episode: https://thatannuityshow.com/2023/03/31/episode-187-making-sense-of-the-state-of-the-economy-with-david-czerniecki/

24/03/2023

Sometimes very basic questions can be hard to answer when it comes to annuities. One example – How much exposure does a specific vol-controlled index actually have to the market? Josh Mellberg joins us today to show how to use simple match to estimate relative exposure across different indices at one given point in time. The question may become more common as clients looks for ways to make up for declines in 2022.

Full episode: https://thatannuityshow.com/2023/03/24/episode-186-simplifying-market-exposure-and-fia-indices-with-josh-mellberg/

17/03/2023

We know both consumers and agents want and expect a different buying experience today. The industry has made significant strides in the last few years. However, the journey isn’t over yet. Josh Elohim and Reid Tattersall from BackNine Insurance and Financial Services, Inc. give their recommendations for innovation that carriers should support.

Full episode: https://thatannuityshow.com/2023/03/17/episode-185-pushing-the-frontiers-of-digital-insurance-with-josh-elohim-and-reid-tattersall/

13/01/2023

We covered a lot of topics in 2022 with many of the leaders of the retirement and annuity business. We thought it would be worthwhile to take a look back at the shows that stood out last year. And at the same time, think about what issues may be very important to discuss in 2023. As we plan our schedule for the coming year, please reach out and give us your suggestions for guests and topics.

Full episode: https://thatannuityshow.com/2023/01/13/episode-178-looking-back-at-2022/

06/01/2023

Our emotional relationship with money is complex. How we feel about it often shapes how we spend and how we save it. Joining us today is Jamie Hopkins, Managing Partner of Wealth Solutions at Carson Group and co-author of “Find Your Freedom – Financial Planning for a Life on Purpose”. Jamie talks about how advisors and clients need to rethink goals and processes for a successful planning outcome. We also sneak in Jamie’s great perspective on the recently-passed SECURE Act 2.0.

Full episode: https://thatannuityshow.com/2023/01/06/episode-177-finding-the-emotional-side-of-financial-planning-with-jamie-hopkins/

30/12/2022

Indices continue to proliferate within the fixed indexed annuity market. Yes, choice is good for the client but it can create a complicated environment for the agent or advisor. Laurence Black, Founder of The Index Standard and Branislav Nikolic join us again to talk about how their company makes providing good information easier.

Listen here: https://thatannuityshow.com/2022/12/30/episode-176-thoughtfully-recommending-indices-with-laurence-black-and-branislav-nikolic/

23/12/2022

Dementia presents a growing risk for all of us as we age. Research shows that even mild cognitive impairment makes it hard for people to manage their money on their own. Today we speak with Marti DeLiema, Naomi Karp, and Steve Vernon about a project designed to help. It's called the Thinking Ahead Roadmap. It's free on the web and intended to start important planning conversations today.

Full episode: https://thatannuityshow.com/2022/12/23/episode-175-thinking-ahead-of-older-age-with-marti-deliema-naomi-karp-and-steve-vernon/

16/12/2022

Today, we catch up David Czerniecki, Chief Investment Officer for Nassau and get his perspective on the economy. We continue our discussion from last quarter about inflation, interest rates, market volatility, and the supply chain. In addition, we discuss of the current state of the digital currency market.

Listen here: https://thatannuityshow.com/2022/12/16/episode-174-gas-prices-inflation-interest-rates-and-digital-currency-with-david-czerniecki/

09/12/2022

In part 2 of 2 Michelle Richter lays out her proposal for revamping the web of state and federals rules and laws to make in-plan annuities a vibrant market in the future.

Thanks to our sponsor, The Index Standard!

Listen here: https://thatannuityshow.com/2022/12/09/episode-172-making-in-plan-annuities-a-reality-with-michelle-richter-and-mark-chamberlain-2-of-2/

02/12/2022

The SECURE Act reinvigorated interest in expanding the market for in-plan annuities. However, we need to make many more changes to really drive adoption. In part one of a two part series, Michelle Richter and Mark Chamberlain of the newly renamed firm, Annuity Research & Consulting, share their roadmap for future success.

Thanks to our sponsor, The Index Standard!

Listen here: https://thatannuityshow.com/2022/12/02/episode-172-making-in-plan-annuities-a-reality-with-michelle-richter-and-mark-chamberlain-1-of-2/

18/11/2022

Can a mutual fund create new income potential for investors by sharing mortality risk? The answer is "yes", starting in Canada. Fraser Stark, President of the Longevity Retirement Platform for Purpose Financial joins us to talk about his company's novel product.

Watch/listen here: https://thatannuityshow.com/2022/11/18/episode-171-helping-canadians-retire-from-work-not-life-with-fraser-stark/

Thanks to our sponsor, The Index Standard!

16/11/2022

What will the future of face-to-face distribution look like in the coming years? Today, we talk with Paul Blanco, LUTCF, Founder and CEO of Barnum Financial joins us to talk about the future of advisors, insurance agencies, wealth management and technology.

Listen here: https://thatannuityshow.com/2022/11/11/episode-170-the-future-of-advice-with-paul-blanco/

28/10/2022

Many people will experience shock when they open their 401(k) statements this year. Will the growing awareness of market risk open the doors for more in-plan annuity offerings in 2023? Today, we explore the challenges and opportunities of creating income protection inside 401(k) plans with Matthew Wolniewicz, AIFA, President at Income America.

Tune in here: https://thatannuityshow.com/2022/10/28/episode-168-the-year-of-in-plan-annuities-with-matt-wolniewicz/

Thanks to our sponsor, The Index Standard!