MYGA-2-SPIA for Full-Control Annuity Income: Shootin' It Straight With Stan

“Fun With Annuities” The Annuity Man Podcast

In this episode, The Annuity Man discussed:

• What a MYGA and SPIA is

• MYGA to SPIA Strategy

• Flexibility and Control

Key Takeaways:

• MYGA is the annuity industry's version of a CD, offering locked-in, non-callable interest rates annually. SPIA is the original lifetime income annuity, with a long history dating back to Roman times and used for pension payments.

• Use a MYGA to lock in a guaranteed interest rate for a specific duration, such as five years then take out interest or up to 10% penalty-free, depending on the specific MYGA. At the end of the duration, the Myga can be transferred to a SPIA, with a non-taxable event transfer.

• The MYGA to SPIA strategy takes advantage of the control and flexibility that these two products offer. MYGAs and SPIAs also do not have any annual fees, which makes them very cost-effective.

"You can have your cake and eat it too - just a few bites. You can protect the principal. You can peel off interest, if needed, during that duration of the MYGA, and at the end of that term, you have full control of the asset." — Stan The Annuity Man.

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