Planning vs. Management
The College for Financial Planning and the Certified Financial Planner Board of Standards, Inc. will likely object to the statement that their business is oxymoronic. They might be justified. Let me elaborate.
The Oxford Dictionary defines an oxymoron as “a figure of speech in which apparently contradictory terms appear in conjunction.” Claiming that financial [...]
I recently received this question from Christine:
Hi Jeffrey,
I hear those whole life policys have huge fees, what are all the fees?
Here’s my initial answer…
Great question, Christine!
Unfortunately your question implies a common misunderstanding so lets clarify that issue first. Clarifying things may be enough, but if it isn’t feel free to question or comment further.
Whole life insurance policies have [...]
Someone recently asked about FDIC insurance for the money in the “banks” suggested by the EUREKONOMICS’ Money for Life Modelfor creating wealth and managing personal finances, which recommends that each American should act as his/her own banker. (Some advisors refer to these as “family banks,” “infinite banks,” or “personal banks.” The use of the term “banks,” “banking,” and [...]
Preamble…
There are hundreds - perhaps thousands - of legitimate uses for participating (par) whole life insurance.
Thoughtful and creative insurance and financial guides recognize par whole life as the most powerful, flexible, and versatile financial tool in the US economy. These enlightened guides use par whole life for applications as simple as fulfilling basic family needs, [...]
In May of 2008 this blog awakened its readers to an idea that is now being recognized after decades of being dismissed. Fact is, if you had followed this practice through the ’80s and ’90s you would be well ahead of those that followed conventional wisdom.
Jeffrey Kosnett only implies the power, flexibility, and versatility of whole life insurance [...]
In 1974 the US Congress passed ERISA and began convincing Americans that saving money was a bad idea. The law they passed convinced us that investing [aka gambling] in an IRA or 401(k) was better than putting our money into guaranteed return savings vehicles. Americans listened. Wall Street and the IRS rejoiced.
In 1977 a high school coach [...]
ING To Review “Strategic Options” For U.S. Ops; May Shift Annuity Book
By ALLISON BELL
Published 4/9/2009, National Underwriter
“ING Groep N.V. wants to reduce the scope of its U.S. operations ‘over time and as market conditions permit’…”
Full article à http://www.lifeandhealthinsurancenews.com/News/2009/4/Pages/ING-To-Review-Strategic-Options-For-US-Ops-May-Shift-Annuity-Book.aspx
ING is a good company with a solid base in the U.S. It is not, however, a U.S. company. [...]
This post recounts an email exchange with a credentialed financial advisor. The content has not been modified but the name has been changed and the credentials eliminated to avoid implying that there is any relation between one advisors opinion and the position that might be taken by the credentialing body.
Stephen,
Thanks for your comments.
Although they do not [...]
Where do mutual insurance companies keep their money? Bonds are a staple of mutual insurance company investments. Opponents of whole life insurance from mutual companies say returns on bonds simply don’t compete with the equity [aka stock] market.
BUNK - AGAIN!
Below is an amazing chart extracted from John Maulden’s Weekly Letter that should make every “buy [...]
Ideas are strengthened when they are endorsed by informed experts. Gary Halbert has been proving for a very long time that the buy and hold strategy is flawed. Below is an excerpt from another of his brilliant articles on this topic.
Unspoken by Mr. Halbert but obvious from the article is the corollary that most Americans should not be [...]