The retirement gamble

[SkisNH]

7 hours ago, Ez ryder said:

I am guilty of the first . But then I am not fooling my self to think I know Jack shit about investing . I don't have 8 hrs a day for a decade to acctualy learn the trade .  But I make my money delegating work to professionals masters of of there trade if you will . No diff than investing . Yes I can plumb a house and prob pass inspection but it will cost me more to do it and it won't look as good . Same with investing 

Que up go kill yourself Ben he fancied him self a investment guru 

I'm not an investment guru either, but I don't let my guy push an agenda.  I have him justify the decisions he's making and give the yes or no...I will not disconnect myself from my money, it's too hard to earn and very easy to lose.

[DriftBusta]

3 hours ago, SkisNH said:

I'm not an investment guru either, but I don't let my guy push an agenda.  I have him justify the decisions he's making and give the yes or no...I will not disconnect myself from my money, it's too hard to earn and very easy to lose.

Nothing wrong with that.  Its a pretty simple formula.  Systematically invest at least 10% of your income and let compound interest work for you over time.  Invest in a diversified mix of asset classes weighted properly, and rebalance regularly.  Don't watch it daily or panic if things get bumpy (like they've been lately lol)  If you can or want to do it yourself, that's fine too.  Some guys want to act like they know more than someone in the business who lives and breathes it, want to come in and pick my brain, I have little time for them.  Go get an e trade account.  Most benefit from professional and competent guidance and its worth every nickel.  Referrals are my #1 source for new business, and you don't get them if you're not taking good care of your clients.  Annuities have been given a bad rap, and mostly by being oversold by insurance agents and bankers, without taking a fiduciary responsibility.  You buy an annuity for 2 reasons only imo, to guarantee a future value, or a guaranteed lifetime income.  Even then, best practice is no more than 30-35% of your investible assets.  Indexed annuities should be banned.  The other problem with them, is the person who sold them didn't take an adequate amount of time to explain the moving parts within them.  I could go on about why having a universal whole life with a LTC rider is a good strategy too if you can afford it (to leverage protection of other assets), but some seem to think otherwise.

[teamgreen02]

2 hours ago, DriftBusta said:

I could go on about why having a universal whole life with a LTC rider is a good strategy too if you can afford it (to leverage protection of other assets), but some seem to think otherwise.

I would just buy the LTC policy separately at 60.  Many don't have LTC insurance and end up having one bankrupt the other spouse.  LTC definitely needed to protect assets until you have $10s of millions.

What I learned in business school was the more complicated financial products get, the worse they become.  Add in complicated financial lingo for pretty basic concepts and it is no wonder most people can't make heads or tails of how this stuff works.