@resjudicata I am a fiduciary. But very few of my clients are in managed accounts. But funny you use swindle. Do you know how an SMA works?
Yes, swindle. You may be an exception but just about every fiduciary peddler out there just wants to gather assets and swindle people into the second biggest fee in life after taxes. Then among themselves, like in CFP subreddit, they high five those making more than surgeons while fiduching handful of hours a week. That the fiduciary standard is practically meaningless in protecting one's money is another matter.
Do you also know that returns include fees.
Even so, and? What doesn't have fee", $SPY or $VOO have no fee? Fee only matters if there is no value, and there is value when one is getting something that he can't get elsewhere effortlessly, get it at all, or get it cheaper. Dividend paying WL is a tax free compounding primarily long term corporate bond based returns that's also supplemented by institutional business profits of Fortune 100 companies. Do you know where else I can get that?
Do you know that whole life illustrations from top mutuals are net returns? Net of taxes, net of "fees", net of everything?
And don’t try to tell me permanent life insurance fees are less than .75%.
What does mutuality mean to you?
And I never said they should all of their eggs in those baskets.
Nor did I, i said for fixed income needs.
“Didnt come to ask for complete financial advice”. That’s very disingenuous. All finance is connected.
Yes, but none of it is complex enough that I need to assume someone who is asking about specific thing is not knowledgable enough to know of other things.
If someone asks me about bitcoin or NFT, I am not going to steer them into "Have you heard of S&P500?".
I actually teach my clients of the money they are saving to put 50% of it to fixed and no volatile products.
Great, then you should be in contact with a professional from top mutual insurers and learn about how well designed limited pay dividend paying life insurance is a great fixed income asset, and better than the life time hassles of swapping CDs and Treasuries to get taxed at ordinary income tax each year, like what your clients likely did. You'll learn things that are not available in some textbooks.
And not all retirement is locked up as you wanted to point out. That’s one of the beautiful things about Roth IRAs. Or did you not know that?
Gains are locked up.
I actually looked at one of those 6 months ago. It was not more than the client paid in when it was calculated out.
Hah, I dont know what you looked at but it sure isn't an illustration for a New York Life 5-pay or any other top mutual insurers. The illustration dividend projections were close to 5% compound net of everything return at life expectancy even when the fed rates were practically zero for 15 years, that's equivalent to around 7-9% taxable fixed income returns depending on one's income tax. Now that fed rates are 5.5% instead of 0%, you can use your imagination on the future dividends as the long term corporate bonds they primarily put money into are no longer rock bottom.
There's a reason why they can now give 12% on year 1 and 6% every year on prefunding, that's because they can get into 8% long term corporate bonds now, the gains from which can be passed back via tax free dividends.
What was the net rate of returns for your clients' fixed income returns for the past 15 years until recently?
Yes, swindle. You may be an exception but just about every fiduciary peddler out there just wants to gather assets and swindle people into the second biggest fee in life after taxes. Then among themselves, like in CFP subreddit, they high five those making more than surgeons while fiduching handful of hours a week. That the fiduciary standard is practically meaningless in protecting one's money is another matter.
Do you also know that returns include fees.
Even so, and? What doesn't have fee", $SPY or $VOO have no fee? Fee only matters if there is no value, and there is value when one is getting something that he can't get elsewhere effortlessly, get it at all, or get it cheaper. Dividend paying WL is a tax free compounding primarily long term corporate bond based returns that's also supplemented by institutional business profits of Fortune 100 companies. Do you know where else I can get that?
Do you know that whole life illustrations from top mutuals are net returns? Net of taxes, net of "fees", net of everything?
And don’t try to tell me permanent life insurance fees are less than .75%.
What does mutuality mean to you?
And I never said they should all of their eggs in those baskets.
Nor did I, i said for fixed income needs.
“Didnt come to ask for complete financial advice”. That’s very disingenuous. All finance is connected.
Yes, but none of it is complex enough that I need to assume someone who is asking about specific thing is not knowledgable enough to know of other things.
If someone asks me about bitcoin or NFT, I am not going to steer them into "Have you heard of S&P500?".
I actually teach my clients of the money they are saving to put 50% of it to fixed and no volatile products.
Great, then you should be in contact with a professional from top mutual insurers and learn about how well designed limited pay dividend paying life insurance is a great fixed income asset, and better than the life time hassles of swapping CDs and Treasuries to get taxed at ordinary income tax each year, like what your clients likely did. You'll learn things that are not available in some textbooks.
And not all retirement is locked up as you wanted to point out. That’s one of the beautiful things about Roth IRAs. Or did you not know that?
Gains are locked up.
I actually looked at one of those 6 months ago. It was not more than the client paid in when it was calculated out.
Hah, I dont know what you looked at but it sure isn't an illustration for a New York Life 5-pay or any other top mutual insurers. The illustration dividend projections were close to 5% compound net of everything return at life expectancy even when the fed rates were practically zero for 15 years, that's equivalent to around 7-9% taxable fixed income returns depending on one's income tax. Now that fed rates are 5.5% instead of 0%, you can use your imagination on the future dividends as the long term corporate bonds they primarily put money into are no longer rock bottom.
There's a reason why they can now give 12% on year 1 and 6% every year on prefunding, that's because they can get into 8% long term corporate bonds now, the gains from which can be passed back via tax free dividends.
What was the net rate of returns for your clients' fixed income returns for the past 15 years until recently?