Search found 41 matches

by XDark_FenixX
Wed Sep 13, 2017 6:23 pm
Forum: Investing - Help with Personal Investments
Topic: Where to park house fund/cash?
Replies: 5
Views: 493

Re: Where to park house fund/cash?

With that short of a window, I'd just use a high-yield savings account. I went through this recently, and kept everything in a GS Bank account earning just over 1%. You never know when you're going to find the right place! This. I use discover online savings currently at 1.35% You can get about 2.0...
by XDark_FenixX
Wed Sep 13, 2017 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy for smartphones.
Replies: 31
Views: 2668

Re: Strategy for smartphones.

Back when there were carrier contract subsidies I used to be able to be able to upgrade my iPhone every year for essentially free by selling my previous model. Now that this is gone, I'm not sure what I'm gonna do.... I'm thinking I might just keep my iPhone 6s+ until/if by chance some great deal co...
by XDark_FenixX
Wed Sep 13, 2017 5:46 pm
Forum: Investing - Help with Personal Investments
Topic: Where to park house fund/cash?
Replies: 5
Views: 493

Where to park house fund/cash?

Hi, I was contemplating the possibility of purchasing a house within a year or two and have about $20k sitting in a non-optimal pnc growth account yielding very little (0.6%). What would be the best place to put money like this? A higher yield savings account? It doesn't have to be totally liquid so...
by XDark_FenixX
Fri Jun 16, 2017 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

That's great! Do you have any indication as to what turned it around? Was it the text and the state investigator that prompted this reversal or something else? I'm pretty sure it's the text. I technically did provide it to both the state investigator and guardian before but it appears to have been ...
by XDark_FenixX
Fri Jun 16, 2017 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Final update: VICTORYYYYYYYYYY. Guardian just sent me an email letting me know that they will be offering me a full refund. I wanted to thank everyone here for the advice and support, especially pintail and Benton, or I never would have even thought of trying to get a refund in this manner. I encour...
by XDark_FenixX
Tue Jun 06, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Wedding Ring repair
Replies: 5
Views: 641

Re: Wedding Ring repair

I recently bought an engagement ring, so I'm not an expert by any means but I do know some stuff about this. From what I can tell, as long as you select a rock of similar size (carat) they can probably adjust the prongs of the setting to fit the new diamond. If you go bigger or smaller, you will hav...
by XDark_FenixX
Tue Jun 06, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Small update. I provided the state insurance investigator with the text message from the agent and we're seeing if that goes anywhere. This might as well be a court case because it seems like Guardian and the state insurance department aren't going to help without hard evidence.
by XDark_FenixX
Mon Jun 05, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Update: I received Guardian's response today. Unfortunately it was not positive. In a nutshell, they don't think it is wrong to have sold me whole life insurance and they did not find any evidence of wrongdoing. I forwarded the response to the state investigator and he basically just said there does...
by XDark_FenixX
Mon May 29, 2017 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Ask for a copy of the final answer to the question, purpose of insurance. Did you sign off on the final answer? Big issue. Ask for a complete copy of your file including copies of presentation and all correspondence. He has the records, required by securities law. Unbelievable that they accepted yo...
by XDark_FenixX
Sat May 27, 2017 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Look at the application attached to the policy and see what was written down by the agent as to the purpose of the insurance. In addition, who is named a s beneficiary and what is their insurable interest. All my carriers look carefully at the reason and the insurable interest. Also, remember, Guar...
by XDark_FenixX
Thu May 25, 2017 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

For clarification, I have spoken to the agent's manager, who also happens to be the president of their financial company. In a nutshell he claims that they do not have the authority to rescind the policy or be able to provide a refund and subsequently forwarded my complaint to Guardian since my cont...
by XDark_FenixX
Thu May 25, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

If this life insurance policy was purchased in Pennsylvania as you implied by referencing the PA Code you will be eligible for a prorated return of unearned premium. The PA Insurance Department's Consumer Affairs section will confirm your right - call the Department. Guardian's review may likely re...
by XDark_FenixX
Tue May 23, 2017 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

updates: So I did send the letters to the "financial group", BBB, State insurance board, and Guardian. Guardian has been "reviewing" my complaint for almost a month now and don't seem to have much with regards to updates or progress. The financial group forwarded my letter to Gua...
by XDark_FenixX
Sat Apr 29, 2017 8:03 pm
Forum: Investing - Theory, News & General
Topic: Why aren't small cap indices a major portion of recommended stock allocations?
Replies: 49
Views: 4102

Re: Why aren't small cap indices a major portion of recommended stock allocations?

I just wanted to quickly say thank you to everyone for your responses. This has definitely been a very informative topic for me with regards to understanding risk/asset allocation investing theory. The quick summary of what I'm getting is that small cap is not necessarily a long-term winner and not ...
by XDark_FenixX
Sat Apr 29, 2017 6:52 pm
Forum: Investing - Theory, News & General
Topic: Why aren't small cap indices a major portion of recommended stock allocations?
Replies: 49
Views: 4102

Re: Why aren't small cap indices a major portion of recommended stock allocations?

^I think the idea of not touching anything in 30 years is a poor idea. One of the major points of separate asset classes is to rebalance among them, so that one is automatically buying more of an asset class when it drops relative to other asset classes and that one is automatically selling more of...
by XDark_FenixX
Sat Apr 29, 2017 4:33 pm
Forum: Investing - Theory, News & General
Topic: Why aren't small cap indices a major portion of recommended stock allocations?
Replies: 49
Views: 4102

Re: Why aren't small cap indices a major portion of recommended stock allocations?

Ah ok, so the general idea I'm getting is that it comes down to risk tolerance and asset allocation. Would it be a poor idea to simply strive for maximal returns and have a larger allocation of small cap? With the intention of not touching anything in like... 30 years it theoretically shouldn't have...
by XDark_FenixX
Sat Apr 29, 2017 4:24 pm
Forum: Investing - Theory, News & General
Topic: Why aren't small cap indices a major portion of recommended stock allocations?
Replies: 49
Views: 4102

Re: Why aren't small cap indices a major portion of recommended stock allocations?

You see a lot of recommendations (not from everyone but it's far from rare) that include heavy small cap allocations. Certainly there's higher risk there. As with any tilt, it's not something everybody can own; if you have more than a proportional allocation to small caps, somebody else out there i...
by XDark_FenixX
Sat Apr 29, 2017 3:59 pm
Forum: Investing - Theory, News & General
Topic: Why aren't small cap indices a major portion of recommended stock allocations?
Replies: 49
Views: 4102

Why aren't small cap indices a major portion of recommended stock allocations?

I was making some VTSAX and VTIAX purchases on my brokerage account last night to build my 3-fund portfolio and the the above thought crossed my mind. If small cap stocks have historically performed better than large and mid cap, why arent they a larger percentage of our stock portfolios? Just becau...
by XDark_FenixX
Sun Apr 23, 2017 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 22126

Re: Any regrets living a frugal life for high income/high networth individuals?

This question gets asked periodically. As someone still in the infancy of my career, I can't contribute much. But reading responses has helped me shape my thoughts. Balance is key. One of the common reasons why folks have regretted being frugal because their spouse died in their 50-60s and they cou...
by XDark_FenixX
Fri Apr 21, 2017 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Single with no dependants generally means there is no need for life insurance at all, certainly not 3 million $. I think this financial "advisor" is almost a crook. I wonder if he should be reported to the state insurance board. As to keeping with because of sunken costs, I don't think th...
by XDark_FenixX
Fri Apr 21, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

So sorry to hear about this. I am a advisor but I only sell term. Whole life usually only makes sense in estate planning. Since you paid an annual premium you should be able to get back the pro-rated premium for the year. That's usually how it works at most of the companies I've seen. It does depen...
by XDark_FenixX
Thu Apr 20, 2017 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Could you define significantly? I have a relative whose parent took out a $500,000 whole life policy on them in 1984, and their death benefit has grown, but currently is only around $650,000 (dividends were not used to offset the annual premium) the death benefit, which has grown and will continue ...
by XDark_FenixX
Thu Apr 20, 2017 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

You really need to find out which office he works out of and try to reach the general manager. I will help guide you if you want at no charge, send me a PM. Sent you a PM, I very much appreciate the help! I filed a BBB complaint too. Disclosure: I like several aspects of whole life policies sold by...
by XDark_FenixX
Thu Apr 20, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

When was the policy delivered to you and you signed the delivery document? You might still be in the free look period. In any case you were absolutely an unsuitable candidate for the agents recommendation. If Guardian understands this and you respond that you might seek additional help in resolving...
by XDark_FenixX
Thu Apr 20, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Should I cancel my whole life policy?

Absolutely. Send a certified letter to the agent and the company telling them to cancel the policy effective immediately and refund all unearned premium. I would not recommend getting into a discussion with the agent, he will do everything possible to change your mind and keep from being charged ba...
by XDark_FenixX
Thu Apr 20, 2017 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Need help with whole life

Here is a blog I found by a person, Kitces, that has been referred to on Boglehead's for various investing topics. You might pick up a few ideas and consider whether you want to spend the $100 for an analysis by expert Hunt: https://www.kitces.com/blog/why-cancelling-an-existing-whole-life-or-unive...
by XDark_FenixX
Wed Apr 19, 2017 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Need help with whole life

Can you at least do a "1035" exchange to some much lower cost investment (like a low cost variable annuity at Vanguard) so at least the 12k loss reduces your basis in that alternative, and almost any alternative investment would better? Or if you have only had it for 2 months, could you a...
by XDark_FenixX
Wed Apr 19, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Need help with whole life

Since you paid an annual premium, you may want to look into cancelling/cash out after 11 months instead 2 months if there is no detrimental difference. That's actually what my "advisors" recommended. I'm not totally sure I can trust them though. I initially called Guardian directly about ...
by XDark_FenixX
Wed Apr 19, 2017 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Re: Need help with whole life

Sadly, you are going to need to read your policy and maybe even talk to a financial advisor about your options. Cancelling it is likely the best path, but if there's anyway to get some of your money back, you want to cancel it right. I would get help immediately in the hopes that the policy or some...
by XDark_FenixX
Wed Apr 19, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9381

Should I cancel my whole life policy?

Hi everyone, I am relatively new to this board but spent some time doing the research and organizing my investments. Prior to this I met with a "financial advisor" who sold me 1.4million of whole life insurance and 1.6million of yearly renewable term (with their intention of converting it ...
by XDark_FenixX
Wed Apr 12, 2017 5:41 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Re: Allocation Advice

Bump, advice appreciated!
by XDark_FenixX
Tue Apr 11, 2017 5:51 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Re: Allocation Advice

Alright, so here is what I have set up so far in light of all the helpful posts: 1) do a traditional 401k which will be maxed to 18k 40% US bond index 0.11% expense 30% core equity (S&P 500) 0.09% expense 10% midcap index 0.12% expense 10% international equity index 0.13% expense 10% small cap i...
by XDark_FenixX
Fri Apr 07, 2017 8:54 am
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Re: Allocation Advice

After your Roth IRA is filled, do you have an HSA (High deductible health plan) at work? That is another $3,400 you can stash away pre-tax. HSA is triple tax advantage, tax free in, out and tax free earnings. After that, build Emergency Fund, Near term spending (Taxes, Trip, Car funds). Balance tha...
by XDark_FenixX
Thu Apr 06, 2017 2:11 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Re: Allocation Advice

OP, does your 401k have an after-tax 401k feature with the ability to take distributions from the after-tax 401k at least once per year? Be advised that I'm not referring to your 401k Roth option. I'm referring to an After-tax 401k option. It can be a way to get loads of extra savings from your a 4...
by XDark_FenixX
Wed Apr 05, 2017 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Re: Allocation Advice

Hmmmm well in that case maybe I'll just do 80/20. Any thoughts on the other questions?
by XDark_FenixX
Tue Apr 04, 2017 11:32 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Re: Allocation Advice

Thanks for the posts. So few questions 1) Roth vs traditional 401k. I thought Roth was preferred while young so your contributions grow longer/larger over time tax free? 2) I've heard 90-10 is a good start while young. I'm a little weary right now since I'm sort of expecting a market correction soon...
by XDark_FenixX
Tue Apr 04, 2017 6:39 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Advice
Replies: 18
Views: 1773

Allocation Advice

Hi, looking for some advice as i set up my investment accounts Emergency funds: $5k in the bank Debt: No debt Tax Filing Status: Single Tax Rate: 28% Federal, 3.07% State State of Residence:PA Age:24 Desired Asset allocation: undecided Desired International allocation: undecided Salary: 95k Taxable ...
by XDark_FenixX
Thu Mar 23, 2017 2:30 pm
Forum: Investing - Help with Personal Investments
Topic: Initial investment advice
Replies: 15
Views: 1008

Re: Initial investment advice

Thank you for the input so far. I bought it around early February and live in Pennsylvania, not sure if there's a timeframe to back out? I do not have any dependents at this time, but ideally will be getting married soon. I'll update the initial post with more info tonight. Since it has been over a...
by XDark_FenixX
Thu Mar 23, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Initial investment advice
Replies: 15
Views: 1008

Re: Initial investment advice

Thank you for the input so far. I bought it around early February and live in Pennsylvania, not sure if there's a timeframe to back out?

I do not have any dependents at this time, but ideally will be getting married soon. I'll update the initial post with more info tonight.
by XDark_FenixX
Thu Mar 23, 2017 10:28 am
Forum: Investing - Help with Personal Investments
Topic: Initial investment advice
Replies: 15
Views: 1008

Re: Initial investment advice

I did do a bit of research prior to just purchasing it and sort of decided that since I expect some sort of major market correction during my lifetime the guaranteed returns on some whole life might not be too bad. Total cost for 1.4 million whole and 1.6 million term was $14500 annually. I'm more w...
by XDark_FenixX
Wed Mar 22, 2017 6:12 pm
Forum: Investing - Help with Personal Investments
Topic: Initial investment advice
Replies: 15
Views: 1008

Initial investment advice

Hi, I'm a 24 year old pharmacist just beginning with my investments. I recently saw a financial advisor and wanted your opinions as to what is the best method of investment. The financial advisors basically advocated purchasing whole life insurance, disability insurance, and then opening a standard ...