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Buy term invest the rest. Not so fast!
Posted on 12/20/24 at 9:46 pm
Posted on 12/20/24 at 9:46 pm
quote:
Permanent life insurance and deferred income annuities with increasing income potential outperform investment-only approaches in our analysis.
Ernst and Young Analysis
9
Posted on 12/20/24 at 10:04 pm to La Place Mike
Insurance salesmen and accounting firms find that whole life out performs everything else for generating fees for their clients
Sounds right
Sounds right
This post was edited on 12/20/24 at 10:05 pm
Posted on 12/20/24 at 10:25 pm to La Place Mike
I’m not reading that article.
I can guarantee it’s bullshite
.
Actual investments will ALWAYS ALWAYS ALWAYS beat permanent life insurance products.
I can guarantee it’s bullshite
. Actual investments will ALWAYS ALWAYS ALWAYS beat permanent life insurance products.
Posted on 12/20/24 at 10:27 pm to TDsngumbo
I barely know jack shite about investing and even I got myself a 34% rate of return in 2024 doing investments on my own. Anyone with half their brain tied behind their back and their eyes closed with one less chromosome can invest and have that investment perform better than what a permanent life product will perform.
Posted on 12/20/24 at 10:35 pm to UltimaParadox
quote:
Insurance salesmen and accounting firms find that whole life out performs everything else for generating fees for their clients
What do accounting firms have to gain? Can you link to any research that disputes EY's analysis? I would like to read it.
Posted on 12/20/24 at 10:41 pm to TDsngumbo
quote:
I can guarantee it’s bullshi
Okay prove it's bull shite. Should be easy if you can guarantee it.
If you read the articleyou wouldn'thave made this statement.
quote:
Actual investments will ALWAYS ALWAYS ALWAYS beat permanent life insurance products.
Posted on 12/20/24 at 10:45 pm to La Place Mike
quote:
What do accounting firms have to gain?
EY specifically sells specific products like EY Nexus to insurance businesses.
EY Nexus
Posted on 12/20/24 at 10:59 pm to UltimaParadox
quote:
EY specifically sells specific products like EY Nexus to insurance businesses.
Fair enough.
Can you provide research the contradicts EY's analysis? I would like to read it.
Posted on 12/20/24 at 11:19 pm to La Place Mike
quote:
Okay prove it's bull shite. Should be easy if you can guarantee it.
I don’t have to prove anything to you; my entire 15 year career in the industry is all the proof I need for myself.
NOTHING beats consistent monthly investing for 30-40 years. Nothing.
I’ve seen every way possible for this industry to try to brainwash the public into thinking these high internal fee insurance products are magic wands that create wealth and every single time I’ve been presented with a different idea by my colleagues, I’ve done simple math that shows investing is the better option.
Insurance products and investment products should never be mixed. It ALWAYS diminishes the wealth created for the customer when compared to what they could have obtained had they just invested instead.
Posted on 12/20/24 at 11:26 pm to TDsngumbo
quote:
I don’t have to prove anything to you; my entire 15 year career in the industry is all the proof I need for myself.
Oh so its the because I said so defense. That may work on your children. I will need to see your published white papers and documented research or at least someone elses. Can you provide a link? I sure would like to read it.
Posted on 12/20/24 at 11:30 pm to La Place Mike
How bout this motherfricker, show me where it works and I’ll poke ethical and regulatory holes all through your work. I don’t give a shite if you believe me or not. My money is invested and my assets are protected by life insurance. If you feel your money is better off in high fee products that won’t give you as high a return as the market then go for it. I’ve seen enough professionally to not be a believer in permanent products.
Get some rest, I’m sure you have appointments to get to in the morning for your Northwestern Mutual, NYL, or State Farm clients.
Edit: I just read the article and I still stand by my comments 100%. There’s so much that article is not divulging in an attempt to make their strategies appear more beneficial.
Get some rest, I’m sure you have appointments to get to in the morning for your Northwestern Mutual, NYL, or State Farm clients.
Edit: I just read the article and I still stand by my comments 100%. There’s so much that article is not divulging in an attempt to make their strategies appear more beneficial.
This post was edited on 12/20/24 at 11:41 pm
Posted on 12/20/24 at 11:42 pm to TDsngumbo
quote:
How bout this motherfricker, show me where it works and I’ll poke ethical and regulatory holes all through your work. I don’t give a shite if you believe me or not.
You sound butt. Go ahead and poke ethical and regulatory holes through EY's analysis.
You can't back up what you preach. That sounds unethical.
quote:
Get some rest, I’m sure you have appointments to get to in the morning for your Northwestern Mutual, NYL, or State Farm clients.
You AUM guys are so fricking pompous
Seriously, you should read the article and the accompanying pdf file because you look really foolish right now.
Posted on 12/20/24 at 11:45 pm to TDsngumbo
quote:
Edit: I just read the article and I still stand by my comments 100%
You arev really close the admitting you over reacted. Read the pdf file included in the article. You should apologize for calling me a mother fricker. There was no need to get personal.
This post was edited on 12/20/24 at 11:46 pm
Posted on 12/21/24 at 1:33 pm to La Place Mike
Can't get the PDF to open, but I can say that no 25 year old should start in a moderate glide path portfolio. It also seems highly unlikely they'd have figured out their financial plan for the next 50-60 years with only 3-5 years of actual life experience as an adult. Because of the likelihood of changes in circumstance over time, locking people into contracts that only work under very specific assumptions and removing any flexibility over large portions of their financial plans is pretty unethical. I don't care if the pdf says it could work.
Posted on 12/21/24 at 2:17 pm to La Place Mike
As best as I can tell from the article and the PDF, the "Morningstar's moderate glide path" it follows for the "equities and fixed income" analysis puts an absolutely obscene 50% allocation in bonds. Assuming I'm reading that accurately, the EY Analysis is less "a mixed portfolio with PLI outperforms an investment only portfolio" and more "a mixed portfolio with PLI outperforms an extremely poorly constructed investment only portfolio".
Posted on 12/22/24 at 11:34 am to La Place Mike
I agree because this is an accurate assessment. This doesn't diminish the use of investments, so don't be team anything or ostracize based on opinion.
Posted on 12/22/24 at 8:02 pm to La Place Mike
Properly set up whole life has its place. If you are self employed, max out deferred, and make too much to Roth.
Posted on 12/23/24 at 9:57 pm to TDsngumbo
quote:
NOTHING beats consistent monthly investing for 30-40 years. Nothing.
Why does it have to “beat it?”
Why can’t it be a hedge? Money in an insurance product cannot be touched by creditors. Surely your 15 year career has taught you that?
What about the market crash right before your retirement?
Can I borrow against my brokerage account?
Surely you can answer these questions?
I hope you aren’t an advisor because your clients are getting screwed.
Posted on 12/24/24 at 6:13 am to La Place Mike
So when they compare they substitute BONDS with annuities? Of course it looks better.
Posted on 12/24/24 at 8:39 am to TDsngumbo
You don't belong here. Go back to the Rant.
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