Dustin Settle

P. A. McGavick and Associates, LLC

The Good News: The Longer You Live, The Longer You Live

The Longer You Live, The Longer You Live

“I have felt for a long time a sense of pride, a sense of victory, a sense of life achievement when it comes to our products and how they have evolved.” Bill Broich

The simple fact is this; our product guarantees its promises.

How many products that you use in your daily life can make that guarantee? Think about the benefits it will provide, the promises it will guarantee, and its effect on so many lives. The human body is a strange thing, and it can provide almost any success it desires, to accomplish nearly everything it thinks is important. A person’s ability to perform at a very high rate of accomplishment sets aside flaws, fears, and concerns over what others may feel.“Humans” can do things out of the ordinary, things that others might never even consider. Commitment, fearlessness, desire to help a fellow man, the desire to stand up and be counted, the willingness to give. Human beings like you, me, and your neighbor next door, almost all people on earth, strive for four things necessary for a happy retirement period: a happy home.





The four financial goals for retirement are lifestyle, longevity, liquidity, and legacy. How does working with our clients and prospects compare to these accepted goals? Here is a secret: retirement is not about how much money you have; instead, it is about your income. Income that cannot be outlived and comes regularly reduces Stress.

An annuity can guarantee a lifestyle.

What about longevity? I used to explain longevity with this term, “the longer you live, the longer you will live” The meaning behind that term isn’t meant to be silly; it is to establish a foundation; the longer you live, the longer you live. It means that the longer you live, the greater your life expectancy because at an older age, your longevity increases. Here is an example, a boy 10 has a life expectancy of 76. But when he reaches 76, does he die? At 76, all males in that group have a life expectancy of another 10.5 years. The longer you live.

As an infant, we are born with only two fears, the fear of loud noise and the fear of falling, but life gets in the way, and with that comes more and more fears.

The three greatest concerns of people as they age are:

  • Being alone and forgotten, no one to talk to.
  • No longer feeling relevant; no one cares what you think.
  • Running out of money, having your money die before you do.

None of us know how long we will live, but we know a few facts about living longer, not smoking, doing all things in moderation, exercising, eating well, and the big one:  Avoid Stress! The American Medical Association states that Stress is the number one overall cause of a lower quality of life and a shortened life expectancy. What is the number 1 cause of Stress for humans? Fear of illness, worry about kids? No, it is fear of running out of money!

Annuities can guarantee that a person will never run out of money!   Annuities provide longevity!

Liquidity? Do annuities provide that also? In a way, yes, but they also do not offer any capital gains tax benefits; all income from any gain in an annuity is taxable as ordinary income. There are numerous ways to reduce the tax hardship by removing funds over a period of time. Still, the answer is no; I would never consider an annuity an economical source of liquidity. Banks and bank products would work, any asset that qualifies for capital gains and has a withdrawal feature (mutual funds, selling stocks, etc.). What else is a lousy source for liquidity? IRAs and 401(K)S. You get the full brunt of taxation when you access these assets for liquidity.

Bank and bank products for liquidity.

How about a legacy for your heirs? Real estate, stocks, mutual funds, anything that qualifies for step-up in basis makes for a legacy consideration. The best one? I think life insurance is the ultimate legacy funder; the proceeds are tax-free, always paid in cash, and almost always paid immediately. Annuities come with tax liability to the heirs.

Life insurance for legacy. 

Then there is the mortality table secret. Remember the longer you live scenario? Each year built into the mortality table is a built-in payout factor of 3%. If you are (insert age) and with your deposit, you could receive $1000 a month, wait one year, and the same amount of money will pay you $1,030 a month. That is the secret of the mortality table, the longer you live, the longer you will live.

In summary, look at how powerful our products are; they reduce Stress, remove uncertainty, and help increase life expectancy. Wow!



Dustin Settle picture

Dustin Settle

P. A. McGavick and Associates, LLC

Boise, Idaho


(208) 585-7137

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