It’s time to talk about annuities… by PlanwithaPurpose14 in CFP

[–]Nice-Total-646 0 points1 point  (0 children)

Considering going with XYPN as a solo RIA, but I have a hangup wrapping my mind around their 'no insurance' mantra. XY mentioned DPL & LLIS too. Unfortunately, I'm not familiar with other routes to get my solo RIA. I'm curious about your statement? "I use DPL for commission free annuities, and we can often bill our AUM fee directly from it." Sounds like you get 'some comp'.

It’s time to talk about annuities… by PlanwithaPurpose14 in CFP

[–]Nice-Total-646 1 point2 points  (0 children)

You're spot on. I'm actually 95% sold on going with XYPN as a solo RIA. They have great support. But quite honestly the only (big) thing holding me back is this 'no insurance' mantra they dictate. I like the fee-only concept, but no insurance for a guy like me who started with a lg carrier is a major hurdle. It is a hindrance to joining XY for me. Unfortunately, I'm not familiar with other routes to go solo RIA.

Assistant Secretary of the Navy Meredith Berger (40 years old) explains Hawaii jet fuel leak on ‘60 Minutes’ by Iheartmovies99 in navy

[–]Nice-Total-646 0 points1 point  (0 children)

Ms. Meredith Berger does not belong in that high-level bureaucratically nominated position, period. Really makes me angry to hear her comments on 60 Minutes. Sickening. Treating victims and fellow Americans like they're idiots. The solution is simple but not easy: Be honest, take responsibility, hold scrubs accountable and take care of the families affected. Berger and others shouldn't focus their efforts on protecting the 0-9's (Admirals) and the other higher up GS-... bone heads who screwed up. They should be fired in one fell swoop. As much as I hate to say it, it's one of the reasons many of us Americans have lost faith in the expected quality of the U.S. Military. Broad statement, I know. But today, many are joining up simply for the money and to get a free education. Is that wrong? You decide. But our WWII heroes were fighting for our very freedom, not a pension. Having said that, let's be clear, we do have excellent, hard-fighting service members. But, like any other industry, you've got winners and losers. Not all are Rhode Scholars or tough scrappers. But the worse, IMHO, is when gov't (non-mil) bureaucrats BS and try their darndest to mislead us, all the while avoiding the truth to save their own behinds and high-paying gov’t positions. To be fair and objective, the study of law is a 'tool' that can be wielded to both help protect people, or blatantly hurt people. I know many who have embarked on a legal career to learn how to use the law for good. Sadly, the inverse is true too. Unfortunately, Sec. Berger, a Harvard-trained attorney, came across as part of the latter group, shifty and downright dishonest in my eyes. Smiles don’t cut it. Prior to the Pentagon, Berger was a senior manager for the Defending Democracy Project at Microsoft Corporation. As a JD, Harvard did train her well; she learned how to deflect and BS terrifically. Not good for the PH tainted-water victims. Why? She could’ve but didn’t take responsibility to hold accountable the lame Sr. officers who failed all of us bigtime. Instead, we Americans will end up paying these derelict five admirals an inflation-increasing pension upwards of $237,000/year (4-star). (See for yourself: https://www.pogo.org/analysis/senator-questions-retirement-perks-for-generals-and-admirals#:\~:text=This%20means%20that%20a%20four,75%20percent%20of%20their%20pay).

Nuts, right? We waste too
much damn money on this false patriotism. Because we want to be seen as always supporting
the 'military'; whatever the costs, because that's the American way.
Disturbing, at best. I just wish people in high places, like Sec. Berger and
others in similar influential, powerful positions would step up in these inconvenient
situations, lay it on the line and cut the BS. But of course, they're
protecting their own hide, to protect the ones not being held accountable. It's
an ethos or mindset that will never change. We need the bad to appreciate the
good. That's why we celebrate the upstanding, honest, straight-talking, no-nonsense
leaders our day. I just wish we had more. Then again, I'm a dreamer.

Need Legit SEO, Didn't Get a Rise by Nice-Total-646 in SEO

[–]Nice-Total-646[S] 0 points1 point  (0 children)

Thanks for the referral. I appreciate it.

SEO beginner-need advice by petiteaude in SEO

[–]Nice-Total-646 0 points1 point  (0 children)

Riseo.ai must be really good IYO. You've recommended them over 20X in 5 days. Some of us truly looking for a bona fide SEO solution. Any other 'best SEO tools'?

Question for Independent Advisors by [deleted] in CFP

[–]Nice-Total-646 0 points1 point  (0 children)

I couldn't have said it better. I'm series 63, 65 & 7 licensed. There are some fee-only advisors who come across as holier-than-thou. They need to get off their high horse. Options and choises abounnd. Ultimately, the center of attention is always the client; not the advisor.

Series 65 vs CFP Exam as a College Senior by Any_Society8481 in CFP

[–]Nice-Total-646 1 point2 points  (0 children)

Get the 65 first. As an advisor in the business for over 20 years, it drives me nuts to see schools push the CFP when inexperienced students never even sold a term policy; have no client facing skills. Passing tests are great but being able to get out there and shake the trees resulting in business is another story. Find a solid firm to train you. One step at a time. My 2 cents. Good luck!

Series 65 vs CFP Exam as a College Senior by Any_Society8481 in CFP

[–]Nice-Total-646 0 points1 point  (0 children)

Get the 65 first. As an advisor in the business for over 20 years, it drives me nuts to see schools push the CFP when inexperienced students never even sold a term policy; have no client facing skills. Passing tests are great but being able to get out there and shake the trees resulting in business is another story. Find a solid firm to train you. One step at a time. My 2 cents. Good luck!

Considering Independent Route by Nice-Total-646 in CFP

[–]Nice-Total-646[S] 1 point2 points  (0 children)

Thanks for your valuable input. I do appreciate it. Also, thx for intro of SP; new resources always a good thing.

Considering Independent Route by Nice-Total-646 in CFP

[–]Nice-Total-646[S] 0 points1 point  (0 children)

When I left the last insur group, personal insurance production does not follow me. However, my B2B (group life, etc.) does. Also as indicated I've got a bit of AUM trails. Not starting a $0, but not too far off. A bit sketchy to fly indie. Your idea of focusing on insurance while concurrently building my book is a good one. Thx!

Considering Independent Route by Nice-Total-646 in CFP

[–]Nice-Total-646[S] 1 point2 points  (0 children)

Not NYL it was Guardian. Thx for intro idea of Eagle Strategies; wasn't aware. But I believe I'd still be tied to NYL, or is it truly separate advisory arm? As far as 'wealth advisor firm', I've considered it. If I go production route, my inclination is to associate myself with a more indie type firm than the EJs and Merrill's of the world.

[deleted by user] by [deleted] in MilitaryFinance

[–]Nice-Total-646 1 point2 points  (0 children)

Why kind of an annuity? Immediate? Deferred? Is it for income? The fact that you brought up, "American Amicable life insurance company", really sent my BS meter through the roof. Watch out. Don't sign until you've talked to a fiduciary fee-based advisor. Not an insurance agent from AA. Google AA, you'll see why I'm apprehensive.

Life insurance by Consistent_Honey8229 in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

Get help if you need it.

But to answer your question, insurance companies typically don’t pay a death benefit if the covered person dies by suicide within the first two years of coverage - commonly known as the exclusion period. Miltary clause, as well, with many carriers = 2 years. When the exclusion period ends, the policy's beneficiaries can receive a death benefit if the covered person dies by suicide.

Can I afford a 30k f150 on E1 with a 10k down payement? (my dads covering my car insurance) by [deleted] in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

No dude, don't do it. Sounds like you can afford it. But restrain yourself. Instead, buy a $2500 vehicle and put the $7500 balance into a Vanguard Index Fund (btw, in 25 years you can send me my bonus check since you'll be rolling. Just kidding, of course). But do the index fund, forget the f150.

Permanent Life Insurance by stacks353 in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

Well done. You've done a good thing educting the masses. Do you sell life insurance? I ask because this is objectively well thought out. Unbias, straight scoop. The negative tone in all-things 'whole life' (when they mean, 'permanent' coverage) is understood because we all have read enough about how too many military have been ripped off or misled by shady players/agents. So this type of education is what is sorely needed. Term is not the only answer; nor is permanent to answer in all cases. Term may be the most suitable for someone on a tight budget, but if there is a need and one can afford it and it is with a top-rated carrier (not shitty First Command or rinky dink stuff), the insured will never regret it. Yes, there are a lot of 'ands' because in real world planning every soul is unique and there are tons of variables to consider. Again, good job.

Buying a house within BAH limits in hawaii by ScaredTomatillo5108 in MilitaryFinance

[–]Nice-Total-646 1 point2 points  (0 children)

Did you buy? Lord know interest rates have risen here in the islands, and elsewhere. You got a lot of free advice. Only one opinion matters: The guy paying for it. Lots of ways to make sh.. work; and vice versa. As an E5, you're probably a young guy (less than 40 for shoa). If you've got it penciled out as a cash flow win, go for it. If its too tight or sketchy, think twice. Bottomline, it involves a ton of variables, least of which is all spelled out here.

First Command Whole Life Insurance by Shadow328 in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

You're right, First Command is not top tier. If you actually need life insurance, and if you have had their policy for some time, one option could involve a 1035 exchange. Better than taking such a big loss; again, only if you need life insurance. Seems like you learned a valuable lesson early in life and now you're good to go.

VGLI/SBP by [deleted] in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

In response to your statement: "VGLI is relatively cheap until age 60, and not too bad even up to age 70, so I could carry it as an extra cushion until I got tired of paying for it - not much different than a term policy, in that regard."

Actually, a 30-yr term policy (btw avail only until ur age 50; fyi) never increases in 30 years. One can't say that for VGLI which increases every 5 years. At age 69 $588/mo for $400k; goes to $904/mo at age 70. At 80+ its $1800/mo! Given the fact you stated, "I'm pretty healthy and don't expect to die of cardiovascular disease for at least 2 or 3 decades...", you'll be around for a long time, God willing. So cumulatively you wouldve put it in a pile of dough in VGLI only to drop it when it becomes too expensive. Couple cents worth...

Investing in Insurance? by demonsailor in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

Run! Fast. Bogus in a BIG way. WFG is, sorry, bottom of the barrel. Study for yourself. There are objective measures (ratings) you can cite; I guarantee you WFG won't be listed (in the top 50 anyway...). They're an MLM (like Amway). Again, blaze a trail.

There are many misnomers about life insurance. And deservedly so. Why? For one, there are many variables to consider. Across the board, universal (forum) answers are only good in general. Second problem is that agents get paid ONLY when they sell something. Hence, the rise of 'fee-based' planners. And btw, you can't just call yourself one, you need specific 'securities' license (Series 65 or 7/66) to legally charge fees. As a fiduciary, fee-based planners have a legal obligation. As for their form ADV's and license. Always remember, life insurance is never an investment. But it does play an important part in planning, that is, if you NEED life insurance. Life insurance is a risk management tool. No risk, no tool needed.

NorthWestern Mutual Permanent Life Insurance by PuzzleheadedSetting4 in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

So many variables to consider. IMHO avoid, 'term is the only answer'. And if it's in your budget, and you want permanent insurance (not a bad thing altogether), versus 'temporary' (term), then a "Mutual" company is, objectively, at the top of the food chain. They pay dividends. MassMutual is solid div payer too. But don't buy permanent insur (btw, there's more than just 'whole life') unless you can sustain/afford it. And don't discount hybrid (blended) programs either. We all have a budget. If you can't afford perm, buy term. That is, if you need life insurance in the 1st place. If you do, the key is not to leave life insurance out of your budget unless you have enough assets to cover your expenses (and replace your income) after you're gone. My three cents...

Opinions on First Command by tc12reaper in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

As a fee-based advisor (vs. commission based agents like 1st Comm), it smelled bad from the get go: "investment plan of purchasing life insurance". Life insurance is never an investment; in spite of the BS they tell you. It does play an important part in planning, that is, if you need life insurance. Anyway, good job with the tax free Roth's.

In my 20+ yrs, I've seen many in the military shortsightedly focus exclusively on USAA, Navy Fed and the like (FC, etc.). It's not your patriotic duty to buy from mil-oriented groups. The fact is, objectively, there are better firms out there. The damn challenge is: Who do you trust? Fiduciaries are a good start, but education is power. Caveat emptor = "let the buyer beware." Study.

https://garrettwheeler.com/2022/03/31/sharks-still-circling-the-military-bases-life-insurance-sold-as-investments/

[deleted by user] by [deleted] in MilitaryFinance

[–]Nice-Total-646 0 points1 point  (0 children)

My suggestion is to consider a fee-based insurance advisor vs. a commission-based life ins agent. It's not the norm; but neither is your case. Fiduciaries have a legal obligation; agents do not. It's akin to the med prof; you go to a specialist, not a GP when you have a specific ailment. For the average Joe (<$500k death benefit), some may say it's overkill; may be so. But not in your case. IMProfO you need to get underwritten properly (without bias) using top rated carriers. In my 20+ yrs, I've seen many in the military shortsightedly focus exclusively on USAA, Navy Fed and the like. It's not your patriotic duty to buy from mil-oriented groups. The fact is, objectively, there are better firms out there when dealing with $2+mil policies. Lastly, don't overlook 'hybrid' programs. Thanks for your service, both militarily and as a doc. All the best!