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re: Whole Life Insurance, etc
Posted on 4/17/24 at 9:25 pm to Hou_Lawyer
Posted on 4/17/24 at 9:25 pm to Hou_Lawyer
quote:
It’s $450/month. I have about $20k in cash value now.
For fun.
1) Since inception, if you went 70% in something like a S&P500 or Total Market and 30% in bonds over the same time, what would that cash value be?
2) pick any time period (inception til now) over the last 100 years at random and run the same calculation.
3) what’s the payout upon death?
4) if you aren’t planning on knocking on the door of an estate tax problem as part of using this as an investment, you may want to question the motivations of the person selling you an underperforming investment with a smaller payout than a conservative stock/bond mix.
1
Posted on 4/17/24 at 9:45 pm to Hopeful Doc
The "beauty" of whole life insurance and cash value life insurance policies appears in a 30 year window.
The examples in the illustration "sell" what the life insurance companies want to sell.
The problem is that you should treat the plan like a marriage. Because she (the plan) is a bitch if you break up early. She (the plan) leaves no flexibility for success without staying true for the full 30 years.
What kind of "plan" is it if it only has merit if you stick to it for a full 30 years?
Everyone selling whole life insurance knows this to be true.
It isn't a coincidence that the individual was 35 years old with a retirement date 30 years later.
It is funny seeing people get excited about a 360 month "plan" that has a chance to outperform the market.
The examples in the illustration "sell" what the life insurance companies want to sell.
The problem is that you should treat the plan like a marriage. Because she (the plan) is a bitch if you break up early. She (the plan) leaves no flexibility for success without staying true for the full 30 years.
What kind of "plan" is it if it only has merit if you stick to it for a full 30 years?
Everyone selling whole life insurance knows this to be true.
It isn't a coincidence that the individual was 35 years old with a retirement date 30 years later.
It is funny seeing people get excited about a 360 month "plan" that has a chance to outperform the market.
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