Search found 6 matches

by gogreengowhite92
Mon Sep 30, 2019 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: New to FI.. Suggestions on my personal finance breakdown?
Replies: 3
Views: 565

New to FI.. Suggestions on my personal finance breakdown?

Hey all! I am new to the world of FI, and have slowly been working on getting my finances in order and build up savings and built a better future. So far I've learned a great deal from the forums, FI podcasts and Rich Dad Poor Dad. I do, however, feel that I've heard too many suggestions, and that I...
by gogreengowhite92
Thu Jan 25, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1971

Re: Time to get out of my $1 million Whole Life Policy?

I would suggest to contact the insurance company directly and inform them of the situation, especially the details about you having no need for insurance and that the salesman talked you into cashing out your 401k and inform them of the amount of penalties/taxes that you paid to do so. Tell them yo...
by gogreengowhite92
Thu Jan 25, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1971

Re: Time to get out of my $1 million Whole Life Policy?

I would suggest to contact the insurance company directly and inform them of the situation, especially the details about you having no need for insurance and that the salesman talked you into cashing out your 401k and inform them of the amount of penalties/taxes that you paid to do so. Tell them yo...
by gogreengowhite92
Thu Jan 25, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1971

Re: Time to get out of my $1 million Whole Life Policy?

sumi wrote: Thu Jan 25, 2018 10:01 am As others said double check surrender cost schedule .
The surrender charge is $14,000, and the accumulated cash value is only half of that unfortunately.
by gogreengowhite92
Thu Jan 25, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1971

Re: Time to get out of my $1 million Whole Life Policy?

I appreciate all the thoughtful comments and remarks; I just recently started learning about personal finance and this was the first thing that hit me as an incredibly bad decision I made when I was 23. I am certainly learning from this. I am afraid that all the money I've sunk into this policy is g...
by gogreengowhite92
Wed Jan 24, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1971

Time to get out of my $1 million Whole Life Policy?

Good morning all, I obtained a $1,000,000 whole life policy about two years ago. I was 23 years old, had no children, mortgage or any dependents. Essentially, I was sold this policy under the notion that it would be an excellent way to supplement my 401k, as this would act both as an investment vehi...