Search found 68 matches

by SuperSaver1975
Thu Jan 09, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: I need help understanding what to do with Whole Life Insurance policies
Replies: 15
Views: 1519

Re: I need help understanding what to do with Whole Life Insurance policies

They are worth either the stated policy amount if you die or the cash value if you cash them out but not both. This is one of the key deceptions with Whole Life. A financial advisor (cough, insurance salesman, cough) presented a Whole Life policy to me, and without explicitly stating it, lead me to...
by SuperSaver1975
Tue Jan 07, 2020 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Millennial Looking for Creative Alternatives for Loan/Mortgage
Replies: 77
Views: 5444

Re: Millennial Looking for Creative Alternatives for Loan/Mortgage

Before the 2008-9 crash, I had always thought that under our capitalist system that banks would be the experts at using time-tested scientific methods to determine how much of a loan that a borrower can have. I thought that "capitalism" meant that banks would rationally decide that making risky loan...
by SuperSaver1975
Tue Jan 07, 2020 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Millennial Looking for Creative Alternatives for Loan/Mortgage
Replies: 77
Views: 5444

Re: Millennial Looking for Creative Alternatives for Loan/Mortgage

Use a credit union if you want to avoid the evil big banks. If you are purchasing a home well within your means, and you can pay off aggressively, then a shorter loan term is better. My wife and I purchased a home well below our means and it was one of the best decisions we made in our entire lives....
by SuperSaver1975
Tue Jan 07, 2020 4:22 pm
Forum: Personal Investments
Topic: Whole life insurance!
Replies: 10
Views: 863

Re: Whole life insurance!

The premiums paid minus your cash value is approximately equal to the commissions that the insurance made in selling the product.
by SuperSaver1975
Tue Jan 07, 2020 4:17 pm
Forum: Personal Consumer Issues
Topic: Housekeepers
Replies: 32
Views: 3199

Re: Housekeepers

We hired a maid service, and the maid stole my wife's $10,000 engagement ring and sold it at a pawn shop for $500. She got busted because of the records kept at the pawn shop, but the ring was never recovered. Maid pled guilty in court. It took many years, but eventually she paid us the $10,000. The...
by SuperSaver1975
Fri Jan 03, 2020 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: demented mother's online spending
Replies: 126
Views: 11436

Re: demented mother's online spending

Compulsive buying online is about getting a dopamine hit to the brain. Find a substitute activity like video games. None of those will help depression though. My MIL is addicted to online spending. We just pieced together the fact that my MIL needs a second temperature-controlled storage space renta...
by SuperSaver1975
Fri Jan 03, 2020 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: trusting a financial advisor
Replies: 34
Views: 2613

Re: trusting a financial advisor

Last year my wife got a great recommendation for a financial advisor, from one of her co-workers. Her co-worker is a good friend, and very intelligent in a highly technical field. Her co-worker had been using this FA for about 20 years. My wife had been wanting to do an overhaul of our finances and ...
by SuperSaver1975
Fri Jan 03, 2020 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: 29 year old whole life insurance policy
Replies: 15
Views: 1636

Re: 29 year old whole life insurance policy

It's not a good idea to mix insurance and investing. It's great for the insurance salesman though. Cha-ching!
by SuperSaver1975
Mon Dec 16, 2019 2:06 pm
Forum: Personal Investments
Topic: Should I pay off mortgage or invest?
Replies: 25
Views: 1879

Re: Should I pay off mortgage or invest?

Earlier this year I paid off my mortgage early, which we decided to do vs. other possibilities. To me it's very satisfying to finally own my home. You can't put that in a calculation, but to me it has personal value.
by SuperSaver1975
Wed Dec 11, 2019 5:57 pm
Forum: Personal Consumer Issues
Topic: Re: Amazon Echo, Alexa, and privacy concerns
Replies: 41
Views: 2589

Re: Amazon Echo, Alexa, and privacy concerns

True story: I was visiting relatives with my wife. We met somebody's new boyfriend and were talking with him about his miniature goats that he keeps as pets. It was the first time in our lives that we talked about domesticated miniature goat house pets. Later that day, back at home, my wife went ont...
by SuperSaver1975
Wed Dec 11, 2019 5:49 pm
Forum: Personal Consumer Issues
Topic: Which iPhone would you buy today?
Replies: 102
Views: 7563

Re: Which iPhone would you buy today?

iPhone 6 because of the 3.5mm headphone jack!
by SuperSaver1975
Wed Dec 11, 2019 3:26 pm
Forum: Personal Consumer Issues
Topic: Blue Light Blocking Glasses?
Replies: 39
Views: 3479

Re: Blue Light Blocking Glasses?

Both blue and green wavelength of light stimulate wakefulness in your brain and suppress melatonin secretion. Blue light has the strongest effect, and green light has a lesser effect. I read a few books on sleep science and have put some thought into this. Just having your devices go into a night mo...
by SuperSaver1975
Fri Sep 27, 2019 4:10 pm
Forum: Personal Consumer Issues
Topic: Beyond Meat Burger? Do you like?
Replies: 119
Views: 10374

Re: Beyond Meat Burger? Do you like?

My SO uses ground turkey (or sometimes pork) for most meals you'd generally use ground beef for (spaghetti, meatloaf, tacos, etc.) and it's a good substitute. Not as much for burgers, but maybe I just haven't had the right recipe. Out of curiosity, why is it believed that ground turkey or pork is a...
by SuperSaver1975
Thu Sep 12, 2019 3:10 pm
Forum: Investing - Theory, News & General
Topic: Not market timing is hard
Replies: 31
Views: 3384

Re: Not market timing is hard

Decide an AA, then tune out all financial news.
by SuperSaver1975
Mon Sep 09, 2019 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Proposed LTD policy - please weigh in on associated Riders
Replies: 10
Views: 1010

Re: Proposed LTD policy - please weigh in on associated Riders

I am in the process of replacing my current LTD policy. I have a proposal from Guardian that includes the following in the base policy: True Own Occupation Elimination Period - 90 Days Benefit Period - To age 65 Optional Riders Enhanced Partial Disability COLA adjustment - 3% Future Increase Option...
by SuperSaver1975
Fri Sep 06, 2019 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance -- Clueless and want to educate myself
Replies: 20
Views: 1448

Re: Life Insurance -- Clueless and want to educate myself

I understand your thoughts on the product, but that still doesn’t make it a scam. Your agent may have been a slimeball but there’s no way he would make $25k on a whole life policy with $16k premium in the first two years. Even an agent with top compensation level probably gets around 85% of the fir...
by SuperSaver1975
Fri Sep 06, 2019 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance -- Clueless and want to educate myself
Replies: 20
Views: 1448

Re: Life Insurance -- Clueless and want to educate myself

Absolutely do NOT buy any insurance called whole life, universal life, or variable life. All are scams that make an insurance salesman rich for duping you. Stick to regular term life. Use one of the competitive sites mentioned in other's posts. Over the years, save up enough that you eventually won...
by SuperSaver1975
Fri Sep 06, 2019 8:49 am
Forum: Personal Consumer Issues
Topic: Wedding/Engagement Ring Insurance
Replies: 64
Views: 4504

Re: Wedding/Engagement Ring Insurance

My wife had an engagement ring worth about $10,000 thanks to my MIL giving me a family heirloom diamond to use in it. I bought the setting. When my wife and I bought our first townhouse, we put a rider in our homeowner's insurance to insure the ring. Later, when we moved to another state & bought a...
by SuperSaver1975
Thu Sep 05, 2019 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Do you have disability insurance?
Replies: 37
Views: 2133

Re: Do you have disability insurance?

I recently just went through the process of buying supplemental private long term disability on top of my employer coverage. The annoying thing about LTD insurance is the learning curve. Compared to a simple product like term life insurance, LTD policies are 20-times more complicated, with many poss...
by SuperSaver1975
Thu Sep 05, 2019 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance -- Clueless and want to educate myself
Replies: 20
Views: 1448

Re: Life Insurance -- Clueless and want to educate myself

Absolutely do NOT buy any insurance called whole life, universal life, or variable life. All are scams that make an insurance salesman rich for duping you. Stick to regular term life. Use one of the competitive sites mentioned in other's posts. Over the years, save up enough that you eventually won'...
by SuperSaver1975
Thu Sep 05, 2019 8:12 am
Forum: Personal Consumer Issues
Topic: Wedding/Engagement Ring Insurance
Replies: 64
Views: 4504

Re: Wedding/Engagement Ring Insurance

My wife had an engagement ring worth about $10,000 thanks to my MIL giving me a family heirloom diamond to use in it. I bought the setting. When my wife and I bought our first townhouse, we put a rider in our homeowner's insurance to insure the ring. Later, when we moved to another state & bought a ...
by SuperSaver1975
Fri Aug 30, 2019 9:03 am
Forum: Personal Consumer Issues
Topic: How to clean baked on "carbon" from corners of old cookie sheets
Replies: 27
Views: 2358

Re: How to clean baked on "carbon" from corners of old cookie sheets

I have the most efficient solution: Decide to not care about it. Problem solved. I have gunk/carbon on my cookie sheets. I wash them reasonably well each time they are used but the gunk builds up anyway. Who cares? If the gunk stays on the sheet after all that effort you put into taking it off, the ...
by SuperSaver1975
Fri Aug 23, 2019 8:21 am
Forum: Personal Investments
Topic: Trying to help a relative "see the light"
Replies: 36
Views: 2318

Re: Trying to help a relative "see the light"

When you get a chance, you should use a portfolio backtest analyzer such as this: https://www.portfoliovisualizer.com/backtest-portfolio to compare how the FA's portfolio would have compared to a 3-fund (or other low cost & simple) alternative. I almost got entangled with an FA who advised having 2...
by SuperSaver1975
Thu Aug 22, 2019 2:46 pm
Forum: Personal Investments
Topic: Trying to help a relative "see the light"
Replies: 36
Views: 2318

Re: Trying to help a relative "see the light"

When you get a chance, you should use a portfolio backtest analyzer such as this: https://www.portfoliovisualizer.com/backtest-portfolio to compare how the FA's portfolio would have compared to a 3-fund (or other low cost & simple) alternative. I almost got entangled with an FA who advised having 20...
by SuperSaver1975
Thu Aug 22, 2019 8:57 am
Forum: Personal Investments
Topic: 401k Rollover disaster
Replies: 31
Views: 2362

Re: 401k Rollover disaster

If you are about to retire, it seems very risky to have a large stake in a single stock, no matter how good the company seems to you. I'm no fan of financial advisors. You are smart enough to do this on your own without a blood sucker draining away your money. If you learn about the advantages of i...
by SuperSaver1975
Wed Aug 21, 2019 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Optional Life Insurance (through employer)?
Replies: 34
Views: 1509

Re: Optional Life Insurance (through employer)?

Artful Dodger wrote:
Wed Aug 21, 2019 2:57 pm
I would think at your age and in good health, you could get a 25 year $500K term plan for around $475 / month.
Did you mean per year? I got a $500,000 policy around the same age as OP, I think a 15 year policy, for less than $300 per year.
by SuperSaver1975
Wed Aug 21, 2019 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Optional Life Insurance (through employer)?
Replies: 34
Views: 1509

Re: Optional Life Insurance (through employer)?

Does every employee get the exact same rate, regardless of age or gender? Or is the rate tailored to your age & gender? What I'm getting at is: will the rate you pay stay the same, or will the employer increase the rate each year? Chances are you will change jobs at some point. Suppose you work ther...
by SuperSaver1975
Wed Aug 21, 2019 7:46 am
Forum: Personal Investments
Topic: Should I stay or get out of Index Universal Life Insurance
Replies: 14
Views: 931

Re: Should I stay or get out of Index Universal Life Insurance

SUMMARY OF ACCOUNT VALUES AS OF APRIL 8 2018. Beginning Account Value: $27,000. PLUS: Premium Payments: $2,920. Interest/Index Credit(s): $2,573. LESS: Premium Load: $0.00. Cost of Insurance: $240.00. Other expenses and charges: (2) $125.00. Rider Charges: $0.00. Withdrawals: (3) $0.00. As of April...
by SuperSaver1975
Wed Aug 21, 2019 7:28 am
Forum: Personal Investments
Topic: 401k Rollover disaster
Replies: 31
Views: 2362

Re: 401k Rollover disaster

If you are about to retire, it seems very risky to have a large stake in a single stock, no matter how good the company seems to you. I'm no fan of financial advisors. You are smart enough to do this on your own without a blood sucker draining away your money. If you learn about the advantages of in...
by SuperSaver1975
Fri Aug 16, 2019 6:37 am
Forum: Personal Consumer Issues
Topic: Kindergarten lunches
Replies: 59
Views: 5185

Re: Kindergarten lunches

The best thing I ever did to help my kids eat healthy was I made an iron-clad rule at one point: "Every meal MUST have at least one whole, unprocessed plant food". Obviously that's vegetables and fruits, but also nuts & seeds, like almonds or pumpkin seeds. The meals we can control well, breakfast a...
by SuperSaver1975
Fri Aug 16, 2019 6:16 am
Forum: Personal Consumer Issues
Topic: Kindergarten lunches
Replies: 59
Views: 5185

Re: Kindergarten lunches

Jmh04j wrote:
Fri Aug 16, 2019 3:40 am
Veggie Straws or some other type of healthy(ish) option.
Those are just another highly processed food. You could say twizzlers are veggie straws because the ingredients are all from plants. It's better to view those as pure junk food & candy.
by SuperSaver1975
Thu Aug 15, 2019 5:04 pm
Forum: Personal Consumer Issues
Topic: Brown Bag Lunch Ideas
Replies: 70
Views: 5312

Re: Brown Bag Lunch Ideas

I’ve read hundreds of books on nutrition and this is what I do: Instead of a paper bag, I use an insulated lunch bag with ice packs, because some of the food needs to be refrigerated. I believe the best diet is a modest amount of quality meats (e.g. grass-fed beef, eggs), with lots of leafy greens, ...
by SuperSaver1975
Thu Aug 15, 2019 1:46 pm
Forum: Investing - Theory, News & General
Topic: GE shares tank more than 13% after Madoff whistleblower calls it a ‘bigger fraud than Enron'
Replies: 101
Views: 11570

Re: GE shares tank more than 13% after Madoff whistleblower calls it a ‘bigger fraud than Enron'

There are so many laws about insider trading and other things involved with knowledge about how a stock could go. How could it be legal for a company to take a short position and then publish information that might make the stock tank? I read this guy's book on the Madoff scandal. He's a very good ...
by SuperSaver1975
Wed Aug 14, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Friend Being Offered Variable & Indexed Universal Life for Tax-free Retirement Income
Replies: 46
Views: 2945

Re: Friend Being Offered Variable & Indexed Universal Life for Tax-free Retirement Income

So what other ammo can I use besides just saying they are crappy products? Here's one way of thinking about it: Start with the life insurance aspect. Plain ol' term life insurance is the way to go. It's simple, easy to understand. Lots of competition, so you know you are not getting ripped off. Onc...
by SuperSaver1975
Wed Aug 14, 2019 8:57 am
Forum: Investing - Theory, News & General
Topic: Treasury 2-10 year yield curve has inverted!
Replies: 116
Views: 12404

Re: Treasury 2-10 year yield curve has inverted!

Tdubs wrote:
Wed Aug 14, 2019 7:33 am
It's un-inverted!
The Re-Un-Inversioning is upon us! I can hear the hoof beats of the Four Horsemen of the Economocalypse! RRRRUUUUUNNNNNN!!!!
by SuperSaver1975
Tue Aug 13, 2019 11:26 am
Forum: Personal Investments
Topic: Is index life insurance a good investment?
Replies: 11
Views: 1485

Re: Is index life insurance a good investment?

Welcome to this forum. There's a lot of great advice here. Just about any financial question you have probably has a hundred threads you can search for and find answers. I've learned a lot here. I'll pass this along:

Never mix insurance and investing.
by SuperSaver1975
Tue Aug 13, 2019 11:17 am
Forum: Personal Investments
Topic: Is this insurance policy a good deal?
Replies: 21
Views: 1052

Re: Is this insurance policy a good deal?

Keep in mind that if the death benefit is paid out, the cash value that accrued will magically disappear. At least, that's how these products usually work.
by SuperSaver1975
Tue Aug 13, 2019 10:25 am
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1805

Re: Life insurance, is it a good deal?

This sounds like a "whole life insurance" scam. The broker is going to pocket 6 figures and rip her off. She won't get the "investment" part AND the death benefit. Scenario 1, as life insurance: Pay $500,000 for a $2.5M life insurance policy. If she dies, the "investment" principal and interest dis...
by SuperSaver1975
Mon Aug 12, 2019 5:18 pm
Forum: Personal Investments
Topic: Life insurance, is it a good deal?
Replies: 35
Views: 1805

Re: Life insurance, is it a good deal?

This sounds like a "whole life insurance" scam. The broker is going to pocket 6 figures and rip her off. She won't get the "investment" part AND the death benefit. Scenario 1, as life insurance: Pay $500,000 for a $2.5M life insurance policy. If she dies, the "investment" principal and interest disa...
by SuperSaver1975
Mon Aug 12, 2019 10:27 am
Forum: Personal Consumer Issues
Topic: Beyond Meat Burger? Do you like?
Replies: 119
Views: 10374

Re: Beyond Meat Burger? Do you like?

I need to limit my red meat consumption for health reasons but I like burgers, so I've tried both Impossible and Beyond Meat Burgers at local/non-chain restaurants. Unfortunately I was not able to try both made by the same restaurant for a true comparison, but Impossible (2.0) was a much better tas...
by SuperSaver1975
Wed Aug 07, 2019 5:01 pm
Forum: Personal Investments
Topic: My "Timing the Market" Experiment
Replies: 55
Views: 5695

Re: My "Timing the Market" Experiment

What you are doing is simply gambling on a whim. Since it is gambling, you can't (or shouldn't) risk any meaningful amount of money on it. If you were to scale up the size of the gambling to substantial amounts, you'd end up obsessed with the moment by moment blips on the stock market and therefore ...
by SuperSaver1975
Wed Jul 31, 2019 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: What should I do about my father's stock market speculation/gambling problem?
Replies: 22
Views: 2739

Re: What should I do about my father's stock market speculation/gambling problem?

Make sure you mom knows how to handle the personal finances and make it impossible that your dad does something like taking out a HELOC on the house to gamble that so he can make up his losses or something equally as stupid. Same goes for cash advances on cc's and access other sources of cash. This...
by SuperSaver1975
Wed Jul 31, 2019 4:31 pm
Forum: Personal Consumer Issues
Topic: Beyond Meat Burger? Do you like?
Replies: 119
Views: 10374

Re: Beyond Meat Burger? Do you like?

The ingredients list says canola oil is one of the top 4 ingredients, which is a deal breaker for me. Canola oil is not fit for animal consumption. The Beyond burger is just another processed food. My daughter is a vegetarian and I periodically look into meat substitutes. I always end up with the sa...
by SuperSaver1975
Wed Jul 31, 2019 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Does the cost of children actually go down once the daycare comes off the books?
Replies: 35
Views: 2052

Re: Does the cost of children actually go down once the daycare comes off the books?

Absolutely YES! the costs go down. My kids are 3 years apart. Once they both got out of daycare, we were able to make much larger mortgage payments, etc.
by SuperSaver1975
Fri Jul 26, 2019 12:51 pm
Forum: Personal Investments
Topic: Reaction to market correction
Replies: 19
Views: 2310

Re: Reaction to market correction

You have decades until retirement. You shouldn't care one iota about last December's correction. I'm a decade older than you, and I didn't spent one moment worrying about that correction. I barely noticed it.
by SuperSaver1975
Fri Jul 26, 2019 6:42 am
Forum: Personal Consumer Issues
Topic: Long commute: how to manage?
Replies: 110
Views: 7925

Re: Long commute: how to manage?

Audiobooks! I've gained a huge amount of knowledge listening to non-fiction audiobooks while driving. When driving the commute is almost automatic and you don't have to think very much, it's not a bad environment for your brain to absorb some information. I also like adjusting the playback speed, I ...
by SuperSaver1975
Mon Jul 22, 2019 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: When family members fight over the check when out to eat
Replies: 103
Views: 8905

Re: When family members fight over the check when out to eat

I'm probably the unusual one, but in situations where someone is insisting on paying, I just let them pay. I might indicate a willingness to pay, but if they really want to, it has always worked out fine to back down and let them pay. When my mother stays with us for a couple weeks, she usually offe...
by SuperSaver1975
Thu Jul 18, 2019 8:51 am
Forum: Personal Finance (Not Investing)
Topic: How unpleasant is the home buying/selling experience??
Replies: 40
Views: 4164

Re: How unpleasant is the home buying/selling experience??

I did Option 1. By dumb luck, it worked out well. As graduate students, we bought a townhouse and stayed in it for only 18 months. We sold at a profit, even after paying the real estate agent. The profit turned out to be equal 18 months of our mortgage payments, meaning we had pretty much lived ther...