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Re: Help with VAL policy, UTMA accounts, and EE/E Savings Bo

For the life insurance policy, id request an in force illustration. Id also compare the current surrender value to basis. if close then id just surrender the thing assuming you dont want to keep it until death (looking at the illustration may provide some guidance on that). If you surrender and have...
by dhodson
Sun Apr 26, 2015 7:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with VAL policy, UTMA accounts, and EE/E Savings Bonds
Replies: 9
Views: 645

Re: LTC premiums vs. Self-Insure resources

additionally long term care insurance doesnt guarantee the premium so you would also have to guess when and by how much premiums will rise. There are very few limited pay polices at this time.
by dhodson
Sat Apr 25, 2015 10:11 am
 
Forum: Investing - Help with Personal Investments
Topic: LTC premiums vs. Self-Insure resources
Replies: 3
Views: 239

Re: Taxes are killing me

My radar goes up when a first time poster talks about tax avoidance.
by dhodson
Sat Apr 25, 2015 7:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes are killing me
Replies: 21
Views: 2722

Re: 2 million dollar mistake meeting with MIL's financial gu

Thank you everyone for the replies. Quick follow up to some points - I have been refusing to meet with the guy for years. He contacted my wife and she agreed to it. We have 2 little kids and about 7 million in 10/20/30 year term policies to meet our life insurance needs. He came to our house and we...
by dhodson
Fri Apr 24, 2015 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2 million dollar mistake meeting with MIL's financial guy
Replies: 23
Views: 4901

Re: Self insuring for catastrophic risk in retirement.

The ones I've seen use your money first. There is no free lunch.
by dhodson
Thu Apr 23, 2015 12:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Self insuring for catastrophic risk in retirement.
Replies: 14
Views: 1443

Re: life and disability insurance question

Paying monthly has additional charges most of the time. As long as you are sticking with term, you should be fine for life insurance.
by dhodson
Thu Apr 23, 2015 9:59 am
 
Forum: Personal Finance (Not Investing)
Topic: life and disability insurance question
Replies: 3
Views: 319

Re: Semi forced retirement - SPIA ?

I'd spend down the 2 million and delay SS to age 70.
by dhodson
Tue Apr 21, 2015 1:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Semi forced retirement - SPIA ?
Replies: 26
Views: 1336

Re: What Guaranteed Return Would You Require to Move All Ass

Doesn't matter, wouldn't do it regardless of what was "guaranteed". If the number is too high then there isn't any way for whomever or whatever to really make good on the promise. There is no magic in this world. I can pretty much always invest better on my own bc of costs. If I am looking...
by dhodson
Mon Apr 20, 2015 8:07 am
 
Forum: Investing - Theory, News & General
Topic: What Guaranteed Return Would You Require to Move All Assets
Replies: 54
Views: 3143

Re: Trying to Help Parents - No EOI Life Insurance?

You need to look at the in force illustrations

Likely the WL will have cash values increasing more than premiums at this point. It maybe a reasonable return on his money at this point. Horrible to purchase WL but once its in place a long time, the return going forward can be "ok".
by dhodson
Mon Apr 20, 2015 7:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Trying to Help Parents - No EOI Life Insurance?
Replies: 22
Views: 1540

Re: Trying to Help Parents - No EOI Life Insurance?

im not seeing why he needs any term insurance unless there are items you have not mentioned. I also am not sure it is correct to cancel those old permanent polices. They are horrible purchases but maybe useful at this point. The upfront costs are sunk Id request in force illustrations on both. The W...
by dhodson
Sun Apr 19, 2015 12:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trying to Help Parents - No EOI Life Insurance?
Replies: 22
Views: 1540

Re: New HVAC

I'd take a practical approach to your electricity bill. Is it high? If you have lived in the area a while, you should have some idea on this or try to compare to neighbor with similar house but newer unit. Hard to guarantee how long a new unit would last so don't assume another 20 years for the inve...
by dhodson
Sat Apr 18, 2015 8:57 pm
 
Forum: Personal Consumer Issues
Topic: New HVAC
Replies: 21
Views: 1512

Re: what to do about variable annuities?

You should ask if there are any income riders are present or other guarantees besides the death benefit. If none then ask to see the annuitization schedule to see if it's very favorable compared to options available today. She has paid heavily if there isn't anything.
by dhodson
Sat Apr 18, 2015 8:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: what to do about variable annuities?
Replies: 16
Views: 1572

Re: what to do about variable annuities?

I think you will find that the majority of customer service is geared to selling.

Most of the advantages discussed above would likely be riders. Are there any riders on this annuity?
by dhodson
Sat Apr 18, 2015 6:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: what to do about variable annuities?
Replies: 16
Views: 1572

Re: Trying to Help Parents - No EOI Life Insurance?

Sorry for your difficulties.

As mentioned,check to see if existing policy can be added to without evidence of insurability.

There is no magic in this world. Insurance companies price LI to make money. They just can't offer deals where they are sure to lose.
by dhodson
Sat Apr 18, 2015 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trying to Help Parents - No EOI Life Insurance?
Replies: 22
Views: 1540

Re: Life Insurance Taxable

Death benefits are income tax free. Estate taxes both federal and state could apply depending on amount.
by dhodson
Fri Apr 17, 2015 1:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Taxable
Replies: 1
Views: 285

Re: How Is UL Cash Value Growth Taxed

Depends on how the cash is accessed. If the policy is surrendered/lapse, then all gains are taxed as income. if the policy is kept in force until death then the death benefit is income tax free (not estate). Loans are never taxed (insurance likes to pretend this is something special). There is neve...
by dhodson
Fri Apr 17, 2015 9:27 am
 
Forum: Personal Finance (Not Investing)
Topic: How Is UL Cash Value Growth Taxed
Replies: 7
Views: 336

Re: How Is UL Cash Value Growth Taxed

Depends on how the cash is accessed. If the policy is surrendered/lapse, then all gains are taxed as income. if the policy is kept in force until death then the death benefit is income tax free (not estate). Loans are never taxed (insurance likes to pretend this is something special). There is never...
by dhodson
Fri Apr 17, 2015 8:56 am
 
Forum: Personal Finance (Not Investing)
Topic: How Is UL Cash Value Growth Taxed
Replies: 7
Views: 336

Re: Interesting article on improving LTC policies

while id personally be interested in such a policy, im not seeing it happen at least any time in my lifetime. As you mentioned, it might be tough for the actuaries to get it right (and so far they have done a pretty lousy job with LTCi). But even if they could get it right, im not sure there is enou...
by dhodson
Fri Apr 17, 2015 7:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Interesting article on improving LTC policies
Replies: 4
Views: 632

Re: How do I find a good local Financial Adviser?

Is there a good reason why you cannot do this yourself? Nothing you asked about requires a rocket scientist. Thanks for your reply but I asked how to find a financial planner that met my criteria...that's it. I didn't ask about retirement saving, life ins, etc. I feel like I'm a fairly well informe...
by dhodson
Wed Apr 15, 2015 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do I find a good local Financial Adviser?
Replies: 20
Views: 1486

Re: Buy new Acura? Nearest dealer service is 125 miles away

While acuras are pretty good in regards to limited issues, I wouldn't buy an Acura in this situation. I'd consider a Honda if you have a local dealer instead. I have a MDX and TL by the way.
by dhodson
Wed Apr 15, 2015 12:28 pm
 
Forum: Personal Consumer Issues
Topic: Buy new Acura? Nearest dealer service is 125 miles away
Replies: 23
Views: 1888

Re: How do I find a good local Financial Adviser?

I'd read the recommended books and then look in the mirror.
by dhodson
Wed Apr 15, 2015 12:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do I find a good local Financial Adviser?
Replies: 20
Views: 1486

Re: Can nursing homes evict Medicaid patients?

They don't have to keep you. I imagine some families think they do or they think of the rehab as a "nursing home" or don't realize that part of the building is rehab and you aren't guaranteed a switch to the other. The big problem is that people want a free lunch. Either people need to pay...
by dhodson
Wed Apr 15, 2015 9:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Can nursing homes evict Medicaid patients?
Replies: 19
Views: 2451

Re: Can nursing homes evict Medicaid patients?

Unfortunately you really can't get much from this article. I imagine people commonly think they are getting "kicked out" after rehab if the family really wants the person to stay in a nursing home. The rules on this are pretty clear and I doubt there is widespread breaking of the rules giv...
by dhodson
Wed Apr 15, 2015 8:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Can nursing homes evict Medicaid patients?
Replies: 19
Views: 2451

Re: Indicator of a bad advisor?

That's what I was talking about
Not surprising at all
by dhodson
Sun Apr 12, 2015 9:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Indicator of a bad advisor?
Replies: 13
Views: 1662

Re: Couple of Term Life Questions

Also consider you are saving for 2 people for retirement. If one dies a few years before then the other may have more money in retirement.
by dhodson
Sun Apr 12, 2015 8:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Couple of Term Life Questions
Replies: 5
Views: 420

Re: RVU model new hire problem

It seems like you were paid appropriately for what you could bill for. Now what they did with the other encounters would be interesting to know. Did they collect?

Now they didn't treat you well. I'd find a new job fast.
by dhodson
Sat Apr 11, 2015 8:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: RVU model new hire problem
Replies: 14
Views: 967

Re: Jane Bryant Quinn: Prepay your mortgage

People in this situation with a mortgage problem in retirement either never had the resources to pay it down or weren't willing to save/invest extra they had.
by dhodson
Sat Apr 11, 2015 7:49 pm
 
Forum: Investing - Theory, News & General
Topic: Jane Bryant Quinn: Prepay your mortgage
Replies: 31
Views: 3689

Re: Long-term care hybrid insurance - is this a good idea?

Grabiner is correct. Most insurance companies use different morbidity and mortality assumptions for the hybrid products than for the stand alone ones. There are also human behavior aspects to it like hybrid owners tend to delay claims longer than stand alone LTC policy holders. And the hybrid makes...
by dhodson
Sat Apr 11, 2015 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-term care hybrid insurance - is this a good idea?
Replies: 12
Views: 1425

Re: Indicator of a bad advisor?

i guess it depends on what you mean as transactions. Wouldnt be surprised if the purchases were for loaded mutual funds.
by dhodson
Sat Apr 11, 2015 4:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Indicator of a bad advisor?
Replies: 13
Views: 1662

Re: Portfolio question. I have a captive insurance company.

Good luck with the captive. I looked into it and felt it wasn't worth the risk. If it's a real risk you are insuring against then you will need cross or reinsurance. If the premiums are outrageous for the risk or the risk isn't real then additional good luck. I always find people with these things a...
by dhodson
Sat Apr 11, 2015 12:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio question. I have a captive insurance company.
Replies: 14
Views: 854

Re: Long-term care hybrid insurance - is this a good idea?

Can still get two polices for cheaper or with more benefits.

When agents don't favor them such as bru,u know its bad.
by dhodson
Sat Apr 11, 2015 6:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Long-term care hybrid insurance - is this a good idea?
Replies: 12
Views: 1425

Re: Has Anyone had a Credit Card Cancelled for not Using It

They should cancel them if not used.

It protects both you and them.
by dhodson
Fri Apr 10, 2015 7:06 pm
 
Forum: Personal Consumer Issues
Topic: Has Anyone had a Credit Card Cancelled for not Using It
Replies: 51
Views: 3742

Re: Medically-underwritten annuity question.....

sorry for your difficulties. Given that most arent medically underwritten and that each person's medical condition is different who do get one, i think your best bet is just to apply and see if you are happy with the results. If not then dont take it. Do you have concerns that the lump sum will not ...
by dhodson
Fri Apr 10, 2015 9:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Medically-underwritten annuity question.....
Replies: 2
Views: 187

Re: Paid two co-pays to doctor for one procedure. Question.

Nothing "wrong" was done the 2nd time. You will actually find it to be the norm.
by dhodson
Wed Apr 08, 2015 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid two co-pays to doctor for one procedure. Question.
Replies: 7
Views: 603

Re: What should I do with this Whole Life 65 policy?

I believe the non guaranteed dividend info is supposed to be based on historical information - I don't think they can just publish any number. Here are the questions I would have: 1. Does the premium stop at any age. I would have guessed it would have stopped at 65 but the illustration data goes on...
by dhodson
Tue Apr 07, 2015 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: What should I do with this Whole Life 65 policy?
Replies: 17
Views: 1530

Re: What should I do with this Whole Life 65 policy?

To start with don't concentrate on the dividend number. The reason being is that insurance companies use a formula that doesn't correspond to actual returns you get. The only reason to look at it is to see if it is continuing to go down or is finally starting to go back up. If you want to know your ...
by dhodson
Tue Apr 07, 2015 8:51 am
 
Forum: Personal Finance (Not Investing)
Topic: What should I do with this Whole Life 65 policy?
Replies: 17
Views: 1530

Re: Do CPI-Indexed Single-Premium Deferred Annuities exist?

I'm not sure what you feel will be actuarially fair but in essence your return is based on the following: 1. Investment returns from the insurance company 2. Mortality credits IMO, investment returns are always going to be a bad deal over the long haul since the insurance company doesn't have any ma...
by dhodson
Mon Apr 06, 2015 8:04 pm
 
Forum: Investing - Theory, News & General
Topic: Do CPI-Indexed Single-Premium Deferred Annuities exist?
Replies: 27
Views: 2154

Re: What should I do with this Whole Life 65 policy?

I requested illustration a few weeks ago, but I'm not entirely sure what's most important. Example...dividend is 5.6% based on 2015 scale Non-guaranteed dividends used to reduce premiums [NO PREMIUM] 2015-16, Net Insurance $75k, Cash Surr Value of $20k 2024-25, Net insurance $88k, Cash Surr Value o...
by dhodson
Mon Apr 06, 2015 7:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: What should I do with this Whole Life 65 policy?
Replies: 17
Views: 1530

Re: Do CPI-Indexed Single-Premium Deferred Annuities exist?

I don't believe this allows you to take more equity risk. If anything less. Let's just say stocks tank, you can't access your annuity period. You are stuck. I suppose I was taking the view that you build a safe floor out of conservative investments and/or annuities to generate enough income for bas...
by dhodson
Mon Apr 06, 2015 8:57 am
 
Forum: Investing - Theory, News & General
Topic: Do CPI-Indexed Single-Premium Deferred Annuities exist?
Replies: 27
Views: 2154

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

Google unmet promises life insurance

You will see your odds are about 10% of performing as illustrated and that article was written by insurance folks.
by dhodson
Sun Apr 05, 2015 8:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1358

Re: Do CPI-Indexed Single-Premium Deferred Annuities exist?

I don't believe this allows you to take more equity risk. If anything less. Let's just say stocks tank, you can't access your annuity period. You are stuck.
by dhodson
Sun Apr 05, 2015 7:50 pm
 
Forum: Investing - Theory, News & General
Topic: Do CPI-Indexed Single-Premium Deferred Annuities exist?
Replies: 27
Views: 2154

Re: Do CPI-Indexed Single-Premium Deferred Annuities exist?

Better to have the annuity payouts begin "soon" after paying the premium. Of course, the sooner the payments begin, the smaller they are. Gill My point is that if you want an income to start 20 years from now, then wait 20 years to buy a SPIA. I don't think it's a good idea to have a long...
by dhodson
Sun Apr 05, 2015 9:53 am
 
Forum: Investing - Theory, News & General
Topic: Do CPI-Indexed Single-Premium Deferred Annuities exist?
Replies: 27
Views: 2154

Re: Do CPI-Indexed Single-Premium Deferred Annuities exist?

id want my money to grow at a rate greater than inflation prior to the payout period.

i currently plan to purchase a non inflation protected SPIA at age 80 for basic needs (assuming good health).
by dhodson
Sat Apr 04, 2015 1:04 pm
 
Forum: Investing - Theory, News & General
Topic: Do CPI-Indexed Single-Premium Deferred Annuities exist?
Replies: 27
Views: 2154

Re: Do CPI-Indexed Single-Premium Deferred Annuities exist?

You are likely over estimating mortality credits since only healthy people but these things. The insurance companies know this and use tables accordingly.
by dhodson
Sat Apr 04, 2015 10:40 am
 
Forum: Investing - Theory, News & General
Topic: Do CPI-Indexed Single-Premium Deferred Annuities exist?
Replies: 27
Views: 2154

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

No it won't

You can reduce the death benefit but there is some money thus then thrown away on a higher death benefit
by dhodson
Fri Apr 03, 2015 2:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1358

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

Usually you can also request these numbers
by dhodson
Fri Apr 03, 2015 1:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1358

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

frankly the history isnt important when making decisions on these bc those costs are sunk but i know what you mean. this is why you should likely get the in force every year. sort of like a free credit report request every year. the insurance companies hate to give you past information which in my v...
by dhodson
Fri Apr 03, 2015 10:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1358
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