- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Northwestern Mutual - Should I?
Posted on 8/21/14 at 1:28 pm to GoCrazyAuburn
Posted on 8/21/14 at 1:28 pm to GoCrazyAuburn
quote:
quote:
Whole life, universal life, annuities, and other BS instruments are nothing more than smoke screens to hide excessive fees and commissions. Its a shell game that most people can't figure out. The products are sold exploiting individuals fear of the unknown and love for their family.
roll eyes is cute and all, but are you really going to claim that any of the abovementioned products are recommended by more than a handful of people who don't get paid a commission on them
you can roll your eyes all you like, but the VAST majority of unbiased financial experts agree with my view.
quote:
quote:
Also, the numbers the insurance company give you on market returns vs their returns over time are HIGHLY suspect.
You have any stats to back this up, or just your assumptions?
this is an assumption based on the reality that no insurance company or mutual fund is going to advertise time frames in which they did not beat the market...unless they only have data showing their poor performance, or they're morons...so no, I don't have anything to back it up other than common sense
quote:
quote:
these are the same guys that charged you 6% fee on a fund that sells at ZERO fee to everyone else.
Huh? Who is buying American Funds for no sales charge?
My mistake. I didn't realize that all American Funds had near criminal sales charges of from 2.5 - 6%. I thought they had some funds without the outrageous fees. So I'll edit my statement say:
One should NEVER trust anything that comes out of the mouth of a 'financial expert' that advised them to buy a mutual fund that was -6% the day they bought it. You OK with that?
This post was edited on 8/21/14 at 1:33 pm
Posted on 8/21/14 at 1:46 pm to Ole War Skule
quote:
you can roll your eyes all you like, but the VAST majority of unbiased financial experts agree with my view
The vast majority of actual financial experts would not deal in such absolutes. The vast majority of financial experts understand that there are places for such products in a portfolio, but not in everyone's portfolio. I've never seen a person criticize without lumping all of it into one category. Regardless of the vast differences in contracts, guarantees, companies, it is all looped into one blob of a product. That is not unbiased.
quote:
this is an assumption based on the reality that no insurance company or mutual fund is going to advertise time frames in which they did not beat the market...unless they only have data showing their poor performance, or they're morons...so no, I don't have anything to back it up other than common sense
So, using the past 20-30 years of data to argue a point isn't allowed? What metric should they be using?
quote:
One should NEVER trust anything that comes out of the mouth of a 'financial expert' that advised them to buy a mutual fund that was -6% the day they bought it. You OK with that?
No. Dealing in such absolutes is not wise, as I've already mentioned. There are benefits to mutual funds. To say otherwise is just folly. Can you beat them, sure. Can they outpace the market and make up for the fee? Yes.
Popular
Back to top
Follow TigerDroppings for LSU Football News