- 14,809
so what are your creds?
Real price of WL insurance?
- Thread starter Carol
- Start date
- 242
- 242
Ok, I'll bite, not sure why this matters, but here goes.......
I am 50 and my clients range in age, across the board. I guess if I had to average their age, it would trend in the 40's. I do a lot of work with closely held corp's and smaller business owners.
I hold a securities license, NAHU Golden Eage, LUTCF, when we had the designation wars I was a Registered Financial Planner (fee based) and a Certified Investment Specialist. Graduate of Perdue University Insurance Mangement Institute. Past DEA agent and FBI negotiator........
I have been trained under Jack/Garry Kinder, LEAP, Larry Wilson and countless others...... started my career in life insurance with Life of Virginia (I was one of the original seller's of UL when it was introduced).
I built the first Medicaid HMO in Georgia, and have built and run 3 HMO's in Georgia, built the largest PPO in Georgia and have had as clients the following: The State of Georgia, Vanderbilt University, Augusta National (opps, wasn't supposed to say that one)..... JC Penny, ConAgra, FEHBP, 12 Hospitals in Georgia and numerous small group clients....
I am debt-free and have a wildly successful mutual fund portfolio and individual stock accounts.... along with numerous savings/money market and checking accounts.
BTW: I use Crest toothpaste in case that has a bearing on this conversation!
So..... where does that information get you? $2.95 and a venti-coffee at Starbucks?
G
Guest
Guest
It tells me that you obviously know what you are talking about and that I should pay more attention to you.
Al
- 14,809
Wow NHS - with those creds, arguing with most of these life agents on the board is like a Downs Syndrome kid arguing physics with Stephen Hawking
pebble head
Expert
- 52
Oh yea, well I stayed at a Holiday Inn Express last night ...
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- Thread starter
- #48
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Buy term, invest the diff. lol. Do you really expect her to put the difference into a mutual fund? Great stock market. Buy term and invest the difference in classic car?I expect that the likely outcome is the cost savings will go to living expense.
A nice thing about a wl policy is the forced savings plan. ...
Padthaiforlunch,
thanks for your advices, I'm listening to them.
But... may I say, you underestimate me, just a little bit? If I would be non-thinking, passive type, I probably would not be here, having honor and pleasure to talk to you, all respected professionals, right? I would just go with a flow and do whatever my agent told me to do, without questioning it and without trying to analyze it myself and come up with my own decision.
Yes, as I said I did not max out my 401 k, as I should do, but there is a reason for that too. I am investing certain percent in it, but in addition to that, this year I opened small Roth Ira. Why? Because the way our economy goes, I think in long perspective taxes will increase. In 401k math your future taxes is a variable, X, you don't know today. So it would be nice to have second retirement source, from with you can get your money tax-free. So I think I'm enough responsible and disciplined.
Here is what I'm trying to accomplish... Having only one, limited source - my paycheck - I am trying to build something, that combines, in balance, effectiveness (read: numbers... there is safety in numbers, remember?
) and safety. Therefore, because I still in the very beginning of building myself financially, I simply cannot afford to spend significant money on something that is not effective, especially via "forced" saving.
I have little, I'm trying to save everywhere, including my daily expences. Therefore I'm trying to be thinking, effective and cover my basics first. And from your discussion I get this feeling thath WL does not belong to "basics", it's for "big numbers" I don't have.
Thank you all, thak you so much. I didn't expect so many thoughtful responces. It helps a lot.
- 14,809
The perm life agent's worst nightmare - an intelligent client
- 3,384
Good for you, Carol. You, like all single mothers, are heroes to me. You do so much with so little and often and go unappreciated for it.Padthaiforlunch,
thanks for your advices, I'm listening to them.
But... may I say, you underestimate me, just a little bit? If I would be non-thinking, passive type, I probably would not be here, having honor and pleasure to talk to you, all respected professionals, right? I would just go with a flow and do whatever my agent told me to do, without questioning it and without trying to analyze it myself and come up with my own decision.
Yes, as I said I did not max out my 401 k, as I should do, but there is a reason for that too. I am investing certain percent in it, but in addition to that, this year I opened small Roth Ira. Why? Because the way our economy goes, I think in long perspective taxes will increase. In 401k math your future taxes is a variable, X, you don't know today. So it would be nice to have second retirement source, from with you can get your money tax-free. So I think I'm enough responsible and disciplined.
Here is what I'm trying to accomplish... Having only one, limited source - my paycheck - I am trying to build something, that combines, in balance, effectiveness (read: numbers... there is safety in numbers, remember?
Therefore, because I still in the very beginning of building myself financially, I simply cannot afford to spend significant money on something that is not effective, especially via "forced" saving.
I have little, I'm trying to save everywhere, including my daily expences. Therefore I'm trying to be thinking, effective and cover my basics first. And from your discussion I get this feeling thath WL does not belong to "basics", it's for "big numbers" I don't have.
Thank you all, thak you so much. I didn't expect so many thoughtful responces. It helps a lot.
There are some good sites online to give you tips on cutting expenses and and maximizing your daily purchases. No doubt you have already gotten quite good at that.
Protection is important but it must fit our budget. Most quality term life insurance (stay away from the majors on term, they have very uncompetitive products) has conversion options, so you can always, at a later date, change your position with the term and convert some or all of it to permanent cash value life insurance.
For house savings you should always take a bullet on return and choose stable, lower interest vehicles to store your dollars. Bank CDs, Money Market Mutual Funds and so on will keep your money safe.
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