- 30,323
Yep, I've had a few $50K annuities at 8% that made for a nice chunk of change. I'd like to have one or two of those fall in my lap every week.
Million-dollar whole life!
- Thread starter JT Agent
- Start date
- 6,007
Yep, I've had a few $50K annuities at 8% that made for a nice chunk of change. I'd like to have one or two of those fall in my lap every week.
Yea - you get 3% on initial and each add on. Not much. Will trade for your 8% . . .
- 30,323
The $25 a month annuity will pay you 75 cents a month in commissions. You can about get a cup of coffee for that if you get a senior citizen discount. No thanks.
- 11,471
Better than $25/month in A-share mutual funds at a broker/dealer.
$25 x 5.00% = $1.25 paid to the broker/dealer.
Assuming a 35% grid = $.43/month GROSS.
$25 x 5.00% = $1.25 paid to the broker/dealer.
Assuming a 35% grid = $.43/month GROSS.
- 30,323
Damn, you'd starve to death selling that stuff.
- 6,007
I just see it as an option for the client and one that I am licensed to market . . .
There's a rumor people can retire on residuals, or at least find financial freedom. Results may vary tho.
- 4,907
Ding, Ding, Ding. This is why the average person really has no place to save money unless they are astute enough to get online through Etrade or Fidelity. With DOL type regs, SEC fiduciary standards coming soon. It is not worth the risk to the average advisor to take it on.
So, when everyone insistent on BTID(which I actually philosophically believe can be done) realizes real people of limited means really have no reasonable method, maybe they would give some credit to forced savings plans like WL, UL & IUL as a quality tool for a segment of our population.
My father in law died 2 months ago. You know what was left after they had emptied a small 401k, had no savings & still had car loan, house loan & personal loan? He had his rotten $100,000 WL policy that had 30k CV in it. They only paid premiums for 12 of the 20 years it was active. Had they not owned that, my mother in law at age 70 would have nothing & still have 60k in debts to try to pay at the same time her household income dropped from $5k per month to $3k after losing her SS check & a drop in his pension check. It saved her dignity. Had it been an investment or bank account, they would have drained it before to bail out a daughter.
I am proud of all the products we sell, but BTID advocates will have to live with the advice knowing that most never do the 2nd part & will outlive their term coverage by 30-50 years in many cases
- 11,471
- 6,007
Sorry for you loss Allen.
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