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Re: Is my term life policy quote too high?

That's putting it too kindly.

There isn't any reason to believe Obomacare has changed life insurance rates.
by dhodson
Sat Jan 24, 2015 9:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 29
Views: 1580

Re: Pricing Insurance Risks

i think they have some historical but that it isnt as good as lets say life/death. Because the data isnt as good, there is some additional risk for them and they make an educated guess of pricing that in giving themselves more buffer. If they are wrong by a little bit then probably no big deal. If t...
by dhodson
Fri Jan 23, 2015 4:00 pm
 
Forum: Investing - Theory, News & General
Topic: Pricing Insurance Risks
Replies: 1
Views: 182

Re: 529 tax advantage may go away

As has been mentioned, no telling if this will ever pass but frankly it just helps to reinforce that one should save for retirement first. It probably though would also get people concerned about changes to Roths.
by dhodson
Fri Jan 23, 2015 9:51 am
 
Forum: Investing - Theory, News & General
Topic: 529 Plans in Danger?
Replies: 21
Views: 1476

Re: Terrible ? but...How hard is it to receive life ins payo

+1 on telling beneficiaries and having copies. In our case, she told us about the one from the employer. Otherwise, we could have missed it but we might have thought to check since my employer has one for me. The other policy that she forgot to mention we found the policy in her safety deposit box ...
by dhodson
Fri Jan 23, 2015 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 1776

Re: Buying life insurance online

I'm in the process of purchasing via an agent through select quote. It hasn't been bad, but having grown up in an amazon.com world, the amount of phone tag required to make this purchase is insane. I know legally buying through an agent is the only option, but eventually the industry is going to ha...
by dhodson
Fri Jan 23, 2015 9:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying life insurance online
Replies: 21
Views: 710

Re: Terrible ? but...How hard is it to receive life ins payo

Its very important to inform family or whomever would help you if you needed help of these contracts. Life insurance companies arent exactly looking to pay the claim. You have to make the effort. I would make a copy of the policy and have it kept with the will and other important documents.
by dhodson
Fri Jan 23, 2015 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 1776

Re: NYC Teachers' 403b: Fixed Annuity pays 8.25% guaranteed?

All guarantees are only as good as the entity making the claim ability to pay.
by dhodson
Thu Jan 22, 2015 1:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: NYC Teachers' 403b: Fixed Annuity pays 8.25% guaranteed?
Replies: 23
Views: 6662

Re: ANNUITY is unaccaptable & not a good word

Defer social security to age 70
by dhodson
Wed Jan 21, 2015 10:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: ANNUITY is unaccaptable & not a good word
Replies: 8
Views: 967

Re: Malware problem on new PC

Another vote for malwarebytes
by dhodson
Wed Jan 21, 2015 10:52 pm
 
Forum: Personal Consumer Issues
Topic: Malware problem on new PC
Replies: 42
Views: 2563

Re: Is a Traditional Annuity ever worth it?

Why lock yourself into the income stream now. Purchase a SPIA at a later date. Now of course you don't have to annuitize but that seems to be your reason to purchase an annuity now.
by dhodson
Tue Jan 20, 2015 9:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is a Traditional Annuity ever worth it?
Replies: 18
Views: 1367

Re: Are 529 plan withdrawals taxable in the future?

If these proposals happen, wouldn't that make 529 a little worse than taxable? If your investment in an index fund doubled in each place over 10 years, wouldn't taxable be due capital gains tax where as the 529 would be counted as income and added to your highest bracket? Pretty much. It would be t...
by dhodson
Tue Jan 20, 2015 2:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are 529 plan withdrawals taxable in the future?
Replies: 20
Views: 1670

Re: Continue to contribute to NQ annuity, or open Roth IRA?

Gains will be taxed as income with the annuity

Gains wont be taxed at all with the roth

Gains in a taxable account would be taxed at long term cap rates

The annuity is the worst of these and this doesn't even include the fees.
by dhodson
Tue Jan 20, 2015 2:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Continue to contribute to NQ annuity, or open Roth IRA?
Replies: 8
Views: 372

Re: urgent: how to identify top surgeons for a procedure

I don't work in a hospital

I realize how they get their data.
by dhodson
Tue Jan 20, 2015 12:19 am
 
Forum: Personal Consumer Issues
Topic: urgent: how to identify top surgeons for a procedure
Replies: 49
Views: 3947

Re: urgent: how to identify top surgeons for a procedure

At any rate, there is no database. But you're talking about a CABG for crying out loud. This is bread and butter CT surgery not an exotic procedure. Actually, you couldn't be more wrong. Not all surgical sub specialties collect or publish such data, but cardiac surgery does: http://www.sts.org/qual...
by dhodson
Mon Jan 19, 2015 11:10 pm
 
Forum: Personal Consumer Issues
Topic: urgent: how to identify top surgeons for a procedure
Replies: 49
Views: 3947

Re: urgent: how to identify top surgeons for a procedure

As a physician, the best way is to ask other doctors in the area who they would recommend. I strongly advise you not to go by "best doctors in America" or other ratings. As a matter of fact, many of these physicians have paid money to be listed as one of these "top 50" etc. Ever...
by dhodson
Mon Jan 19, 2015 11:08 pm
 
Forum: Personal Consumer Issues
Topic: urgent: how to identify top surgeons for a procedure
Replies: 49
Views: 3947

Re: is the pitch for index-based annuities childish?

i know index annuities are a hot topic right now, but it really struck me: isn't the entire premise childish? you're hoping for equity-like returns with no risk and no volatility? isn't this the investing equivalent of buying magic beans? You are paying 1%-1.5% option fee. Total fees will be quite ...
by dhodson
Mon Jan 19, 2015 10:18 pm
 
Forum: Investing - Theory, News & General
Topic: is the pitch for index-based annuities childish?
Replies: 15
Views: 773

Re: Risk of Losing Principal of Annuity

Most of the time it is recommended to keep the total below the state guarantee association limits which range but typically for annuities is 100k. Keep in mind the state doesn't actual back this but taxes other insurance companies to come up with the money or gets them to assume the contract up to t...
by dhodson
Mon Jan 19, 2015 8:31 pm
 
Forum: Investing - Theory, News & General
Topic: Risk of Losing Principal of Annuity
Replies: 2
Views: 352

Re: Advice: Considering surrendering newer Midland National

You need a NEW independent agent to shop your case and find how cheap you could get term. You should request an in force illustration. It will show you the guaranteed costs to keep in force. Loans can easily sink a policy especially one not overfunded. They cost interest. All loans in this country a...
by dhodson
Mon Jan 19, 2015 2:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice: Considering surrendering newer Midland National IUL
Replies: 7
Views: 444

Re: is the pitch for index-based annuities childish?

These things produce almost the same results as any typical deferred annuity bc 98% of the money is in the company's General fund with like 2% in options. It will do slightly better or slightly worse than a vanilla deferred annuity.
by dhodson
Mon Jan 19, 2015 1:32 pm
 
Forum: Investing - Theory, News & General
Topic: is the pitch for index-based annuities childish?
Replies: 15
Views: 773

Re: Milevsky's got me thinking immediate annuity????

Lynette wrote:Does one pay tax on the income generated by a SPIA? After all it is simply a return of one's money.

Lynette


With all annuities, income level tax on all gains

Insurance company will tell you how much is return vs gain
by dhodson
Mon Jan 19, 2015 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Milevsky's got me thinking immediate annuity????
Replies: 28
Views: 2436

Re: Should I stop paying into my IUL policy?

Which of course he doesn't need.

You will notice the premium is a lot higher for that if you bother to look. The reason being is the rate can't be jacked up on you later on. It also won't have any value if you ever surrender it.
by dhodson
Sun Jan 18, 2015 11:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I stop paying into my IUL policy?
Replies: 7
Views: 596

Re: What do I have here? Metlife Var. Annnuity

you should call the company and ask those questions. Post what they tell you.
by dhodson
Sun Jan 18, 2015 12:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: What do I have here? Metlife Var. Annnuity
Replies: 21
Views: 1121

Re: Should I stop paying into my IUL policy?

You are not going to be happy. There is no free lunch with insurance. 1. Yes you can't lose more than you have paid. 2. Ask for an in force illustration and look at the guaranteed amounts to keep in force. 3. universal life has increasing insurance cost with age. If you don't fund the investment pie...
by dhodson
Sat Jan 17, 2015 10:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I stop paying into my IUL policy?
Replies: 7
Views: 596

Re: Tony Robbins & Indexed Annuities

Annuities serve a real purpose. Only way to get mortality credits, and if you care about making sure you have income throughout your lifetime and not leaving a legacy, they deserve serious consideration. Indexed annuities may well be pink slime. Don't think it's fair to paint all annuities with the...
by dhodson
Sat Jan 17, 2015 5:33 pm
 
Forum: Investing - Theory, News & General
Topic: Tony Robbins & Indexed Annuities
Replies: 7
Views: 1185

Re: Help in Realizing the Value of a Variable Annuity

yes dont fall for the rate they quote you. Take a look at the actual payout and determine your return. Frankly i think it is purposefully deceptive that insurance returns dont also give you the real rate not including the return of principal. The nice thing about a limited pay (assuming you are okay...
by dhodson
Sat Jan 17, 2015 2:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help in Realizing the Value of a Variable Annuity
Replies: 12
Views: 800

Re: Benefits of Second Home

This board is mostly about making smart financial decisions. Buying a 2nd home would be difficult to quantify in this aspect as well as the risks involved. There are lots of things i purchase that dont make financial sense. I enjoy them and ive decided to pay for them regardless that they dont make ...
by dhodson
Fri Jan 16, 2015 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Benefits of Second Home
Replies: 35
Views: 3169

Re: Help with a variable annuity

yankeefan4065 wrote:Thanks dhodson. I know there is just the surrender fee if I transfer. Was asking would you sell it all and pay the taxes on the gains plus the 10% penalty to get out of the annuity


If it were me, yes.
by dhodson
Fri Jan 16, 2015 12:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Update...Help with a variable annuity
Replies: 30
Views: 1248

Re: Help with a variable annuity

Thanks all for the posts. Nedsaid, I agree that the fees are ridiculous and didn't realize I may have underestimated them. I think a transfer to Vanguard may be the way to go. Would you personally surrender it all and pay the penalty and taxes on the gains? (about 10k) There is no penalty with a 10...
by dhodson
Fri Jan 16, 2015 12:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Update...Help with a variable annuity
Replies: 30
Views: 1248

Re: Help with a variable annuity

I bought a small VA policy in my early 50s. It wasn't for the investments. It was for the death benefits (health issues) and for the step-ups. There are a lot of reasons for an annuity purchase; Do your know what her thinking was at the time of purchase? I have a lot of deferred annuities and think...
by dhodson
Fri Jan 16, 2015 12:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Update...Help with a variable annuity
Replies: 30
Views: 1248

Re: Help with a variable annuity

Just keep in mind that the taxes and fees are just on the gains If one keeps the annuity indefinitely then you will still pay income level taxes on the gains as opposed to long term capital gains rates. You also can't tax loss harvest within an annuity and you don't get the step up basis at death. I...
by dhodson
Fri Jan 16, 2015 12:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Update...Help with a variable annuity
Replies: 30
Views: 1248

Re: Help with a variable annuity

She can. The question is does she want or need any type of annuity? Just bc SPIAs are considered the "Good annuity" doesn't mean she should get one.
by dhodson
Fri Jan 16, 2015 11:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Update...Help with a variable annuity
Replies: 30
Views: 1248

Re: Help with a variable annuity

You can only 1035 into another insurance product. It just defers the taxes and keeps the cost basis. She would still pay the surrender charges if applicable.
by dhodson
Fri Jan 16, 2015 10:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Update...Help with a variable annuity
Replies: 30
Views: 1248

Re: Options for moving our pets across country

I've done all the above

I'd just take them with you in the car and get it over with.
by dhodson
Thu Jan 15, 2015 12:20 pm
 
Forum: Personal Consumer Issues
Topic: Options for moving our pets across country
Replies: 47
Views: 2429

Re: SPIA survivor payout

I don't know what your question is

You seem to understand the different payout options

They don't cost the same
by dhodson
Thu Jan 15, 2015 8:37 am
 
Forum: Investing - Theory, News & General
Topic: SPIA survivor payout
Replies: 4
Views: 475

Re: Disability Insurance

I doubt it since you can't really tell if the reason for claim denial is based on contract wording
by dhodson
Wed Jan 14, 2015 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 23
Views: 1333

Re: Disability Insurance

I did look at their site briefly but even on their site they tell you it isn't the same as a true own occupation. Now of course they spin it to sound better. At one time they did have true own occupation and removed the wording to make it a modified own occ. I don't know how recent that wording is o...
by dhodson
Wed Jan 14, 2015 12:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 23
Views: 1333

Re: Disability Insurance

True "Own-Occupation" is available to physicians and surgeons with Berkshire (Guardian), MetLife, Standard, Ameritas (formerly Union Central), MassMutual, Principal or Ohio National. Northwestern Mutual also has own-occupation for physicians. They do not and at least not currently. Its a ...
by dhodson
Wed Jan 14, 2015 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 23
Views: 1333

Re: Build your own inflation adjusted annuity?

For anyone else who wants to do some calculations, these are the annuity cashflow rates that immediateannuities.com quoted me for a male at ages 65-90: 65 6.64% 66 6.82% 67 7.01% 68 7.21% 69 7.44% 70 7.67% 71 7.91% 72 8.18% 73 8.48% 74 8.82% 75 9.16% 76 9.54% 77 9.95% 78 10.37% 79 10.94% 80 11.00% ...
by dhodson
Wed Jan 14, 2015 12:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Build your own inflation adjusted annuity?
Replies: 41
Views: 3337

Re: Milevsky's got me thinking immediate annuity????

As mentioned, you already have two annuities (SS and a pension). Most SPIA products are not inflation adjusted and those that are typically but not always have caps and give significantly less money early on as their way of inflation adjusting. If you do this with the rest of your funds then you hav...
by dhodson
Wed Jan 14, 2015 8:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Milevsky's got me thinking immediate annuity????
Replies: 28
Views: 2436

Re: Build your own inflation adjusted annuity?

There is definitely a lag. How long is hard to know. With insurance if you look at dividends, they seem to lag by about 6 years the interest rate environment.
by dhodson
Tue Jan 13, 2015 3:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Build your own inflation adjusted annuity?
Replies: 41
Views: 3337

Re: Should pension plans be relied upon for retirement?

I have to disagree with that last statement. It all depends on how much the company is contributing to the plan vs what you are contributing. One always needs to weigh all benefits (salary, retirement, medical, anything else) and put a dollar to it and compare. IF the amount contributed for the def...
by dhodson
Tue Jan 13, 2015 8:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Should pension plans be relied upon for retirement?
Replies: 35
Views: 3087

Re: Build your own inflation adjusted annuity?

In any case all "build your own annuities" ignore the fact that insurance company annuities are designed around a concept of pooled risk. In this case the risk is outliving ones money and one pools the risk by allowing those who live longer to do so by using the money of those who do not ...
by dhodson
Mon Jan 12, 2015 10:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Build your own inflation adjusted annuity?
Replies: 41
Views: 3337

Re: Build your own inflation adjusted annuity?

One thing in particular is you are assuming no spouse.
In the A example, the money wouldn't disappear if the annuitant died early.
The numbers are of course different if you chose a 2 person annuity.
by dhodson
Mon Jan 12, 2015 10:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Build your own inflation adjusted annuity?
Replies: 41
Views: 3337

Re: Should pension plans be relied upon for retirement?

1. Every company that I have seen that offers retiree health care has a clause which allows them to discontinue it at will. So no, I would not count on healthcare coverage. 2. In most parts of the US employment is at will, and pension plans can be discontinued any time. This means that only vested ...
by dhodson
Mon Jan 12, 2015 10:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should pension plans be relied upon for retirement?
Replies: 35
Views: 3087

Re: Physician owned building versus rent

I have several colleagues who owned their buildings and now cant unload them at retirement (i also have several still in practice who are very happy with their purchase). They also werent able to get new younger docs to take over their practice for any money which has become common in medicine at th...
by dhodson
Sat Jan 10, 2015 4:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Physician owned building versus rent
Replies: 16
Views: 1422

Re: One Person Defined Benefit Plan

I use alliance pension consultants in Illinois

Schwab referred me to them bc I had a complicated situation

I'm satisfied with their work
by dhodson
Fri Jan 09, 2015 8:23 am
 
Forum: Personal Finance (Not Investing)
Topic: One Person Defined Benefit Plan
Replies: 57
Views: 6192

Re: Novice needs help understanding ING Annuity

accumulated value that other value has no implications except with their payout. As mentioned prior, you can see how good that appears by comparing it to a SPIA purchased with the walk away value. 1035 is only useful IF you are going to purchase another annuity. As I mentioned before (and again im j...
by dhodson
Thu Jan 08, 2015 7:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Novice needs help understanding ING Annuity
Replies: 19
Views: 1623

Re: Novice needs help understanding ING Annuity

Well I woukdnt do it that way if u are thinking of buying another annuity the you want to 1035 exchange and not surrender and buy another
by dhodson
Thu Jan 08, 2015 10:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Novice needs help understanding ING Annuity
Replies: 19
Views: 1623
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