How To Get $2,000 A Month For Life From $300,000 | Michael Finke

Learn how a 65-year-old can turn $300,000 into roughly $2,000 a month of guaranteed income for life. In this interview, Caleb Guilliams sits down with Dr. Michael Finke of the American College of Financial Services to break down how to cover fixed retirement expenses with annuities and Social Security before investing the rest.

Connect with Michael on Linkedin: https://www.linkedin.com/in/michael-finke-8134808

Are You a Financial Advisor or Agent? Further Your Education Here: https://www.theamericancollege.edu

Chapters:

00:00 Introduction and Trailer

02:02 Why Savers Also Eat Healthier

05:05 Investing In Health Before Retirement

06:40 Why He Studies Retirement Income

09:12 The Economist View Of Retirement Risk

11:38 Where The 4% Rule Came From

13:37 Why Dave Ramsey's 8% Rule Fails

15:19 Sequence Of Returns Risk Explained

17:09 The Case For 5% And Flexibility

18:31 Bucket vs Annuity Strategies

21:29 Using Home Equity And Reverse Mortgages

23:38 Why Advisors Resist Annuities

25:26 Why Annuity Payouts Are So Generous Now

27:18 Cover Fixed Expenses With Annuities

28:07 How Insurers Pool Longevity Risk

30:18 $2,000 A Month For Every $300,000

31:33 How He Builds His Own Retirement Plan

33:15 The RMD Effect And Underspending

37:01 Ants vs Grasshoppers In Retirement

40:43 Die With Zero And Giving While Alive

42:38 Can Annuities Help You Live Longer?

45:02 Permanent Life Insurance Tax Benefits

48:26 Life Insurance As A Permission Slip

51:16 Will Longer Lifespans Break Annuities?

55:03 Private Equity Owned Insurers Risk

57:58 What To Do Before Retirement Age

59:01 MYGAs: A CD In An Annuity Wrapper

59:55 Mindset: The Best Retirement Predictor

Learn More About BetterWealth: https://betterwealth.com/home/yt/YsJyaQrPByY

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*This video is for entertainment purposes only and is not financial or legal advice.

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