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Old May 13, 2015, 11:50 AM
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Default Re: I have term insurance

Originally Posted by Rob Yaggie View Post
No doubt there is a "financial literacy" problem and sometimes the right choice for a person isn't the best option but rather the best option for their discipline, resources and skill level.

I am able to live within my means, save for a rainy day, use tax favored investment vehicles (401k, 529, IRA, etc.) and non tax favored investments.

For me, insurance and investments are 2 different things and the insurance that makes sense for me is term life for a certain portion of my life (kids at home, wife and outstanding mortgage, etc).

I don't agree that "buy term and invest the difference" is the worst advice as a blanket statement but it is only good advice for a limited audience.

Rob Yaggie


Thank you for the reply. I believe it is the worst advice because of the alternative that exists. I also can prove it is the worst advice that exists. However this isn't the place for me to prove it so I won't.

I noticed the programs you list. They are forever taxed programs once you begin withdrawing your money. The program I talk about is a never taxed program once you begin withdrawing your money. This program is also IRS approved so that isn't even an argument or consideration.

By the way, if you should suffer a heart attack, cancer or stroke and live and can't work or see your income diminish how will your investments and term policy help you? Better yet, how long will they be able to support you? My product will support you for life. You can't beat that. Hence buy term and invest the difference is the worst advice I know of.

I believe you should always arrange your finances in the manner that is best for you and your family. I am not arguing with you or trying to convince you how smart I am or get you to change your mind.

It is my opinion a look at alternatives that exist and are proven to be superior to what we've been told in the past should be examined. That's it.

The only constant thing in life is change. And, that is exactly what has happened in the financial world. The people who control what we invest in figured this out and are now on to this product. It has already made a big difference to quite a few people.

I also believe all advice is good advice for only a limited audience. I can also prove that.

Again, thank you for the reply.
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